Wednesday, March 12, 2008
[auto] More Damaged Cars Being Sold
A new Carfax.com study shows that the
number of "salvaged" cars checked by the company's customers increased 50% in five years.
This is big news and worth any consumer's time.
A salvaged car is one that has essentially been damaged to a point related to its value. That percentage varies from state to state and the calculation methods used vary from company to company. It obviously benefits some companies, such as an insurance company, to avoid declaring the car as a salvage vehicle and instead repair the vehicle.
But even when cars and light trucks were reported to the state as salvaged, they were often transported to other states where reporting requirements or other technicalities allowed someone to sell the car without disclosing the extensive damage. This practice is called "title washing", and while still seen today, companies like Carfax that pioneered the concept of national vehicle history, have surely cut down on the number of such vehicles.
Those salvage cars are out there, however, and the volume surprised Carfax, which eats, breathes and sleeps vehicle history information.
"This problem is more widespread than we previously thought," said Larry Gamache, Carfax's communications director in a statement. "Based on our data, the number one concern consumers should have right now, even above flood damage, is unknowingly buying a used car that was badly damaged in an accident. Buying a salvaged car may not be a bad investment, but you must make sure you're aware of any prior damage and, more importantly, see that the proper repairs were made.
Labels: autos, carfax, safety, vehicle
Friday, December 21, 2007
Saturn Now Requires CARFAX
Saturn has announced that checking a CARFAX Vehicle History Report is required before a Saturn dealer can "certify" a used vehicle.
Certified pre-owned programs (CPO) are becoming an industry norm as manufacturers with late model inventory seek to remove the stigma of a used vehicle and bolster prices. Saturn, like pricier European models, is known for reliability and durability, but that doesn't necessarily mean that a specific vehicle is safe or roadworthy.
Using a CARFAX report along with a mechanic's inspection remains the company's mantra, and the advice is sound. Meanwhile, part of the work will already be done for Saturn buyers now that dealers are required to check the CARFAX report before selling the vehicle as "certified".
The majority of certified used vehicles sold in the United States must now be checked through CARFAX.
Labels: carfax, saturn
Thursday, August 09, 2007
Flood Vehicles Showing Up For Sale, Carfax Warns
After weeks of heavy flooding in the Midwest, used car shoppers everywhere need to be on high alert as vehicles damaged by floodwaters may be sold - knowingly or unknowingly - by dealers or individuals.
A recent study by vehicle history leader Carfax shows that the number of flood cars discovered by their customers' reports has doubled nationwide in only five years. Thousands of waterlogged wrecks from Hurricane Katrina and Rita already have made their way back onto the market. The Virginia company also warns that ore are still showing up around the country.
Carfax continues to offer a
free Carfax Flood Check to help consumers avoid unknowingly buying a flood-damaged car. Under the Carfax Buyback Guarantee, cars purchased with Carfax Vehicle History Reports that do not contain DMV-reported incidents (salvage, flood damage, lemon, odometer problems) may be eligible to be bought back by Carfax.
Labels: carfax, cars, vehicle
Monday, May 07, 2007
Free Airbag Deployment Goes Live At Carfax
Industry experts estimate that as many as one out of 25 previously damaged vehicles may have non-functional air bags. Con men purposely replace deployed air bags with anything from packing peanuts to stolen units. This growing scam is threatening the lives of used car buyers everywhere. To help consumers protect themselves, Carfax now makes the air bag deployment information in its database available for
free.
“No question, air bags are a lifesaver,” said Larry Gamache, communications director at Carfax. “To best protect yourself, follow these two important steps: Use the free Carfax air bag check and always have your mechanic test the air bag system to ensure it’s functioning properly before you buy. Do not assume your car’s air bags will deploy when you need them, because most victims of this scam may never know until it’s too late.”
According to the National Highway Transportation Safety Administration, nearly 20,000 lives have been saved by air bags deploying in an accident. As the height of used car buying season quickly approaches, consumers need to be on the lookout for scams like air bag fraud that can threaten their safety.
“While we don’t know about every air bag deployment, we want consumers to have access to what we do know,” added Gamache. “We also encourage all of our customers who have information about a previous air bag deployment not currently in our database to tell us so we can further help consumers steer clear of this scam.”
Consumers can log on to
www.carfax.com/airbag to access the free Carfax air bag check and can report air bag deployment information using the “Tell Us What You Know” link on all consumer-purchased Carfax Vehicle History Reports.
Labels: autos, carfax
Tuesday, March 27, 2007
Cadillac and Hummer Join Carfax To Promote Vehicle History, Provide Free Carfax Reports For Buyers
Carfax has been named the vehicle history provider of choice by Cadillac and Hummer for the brands’ respective Certified Pre-Owned (CPO) programs. Cadillac and Hummer now require all their dealers to run a Carfax Vehicle History Report on any vehicle submitted for certification. Used car shoppers interested in purchasing a Certified Cadillac or Hummer will receive the full Carfax Vehicle History Report for free.
“A survey by
BusinessWeek just found Cadillac’s customer service performance to be the best in the entire auto industry. This is another building block in our quest to offer an outstanding purchasing experience,” said Jim Taylor, Cadillac General Manager.
Both Cadillac and Hummer offer 6-year/100,000 mile warranties on all CPO vehicles, which also will come with the industry-leading Carfax Buyback Guarantee.
Labels: carfax
Thursday, February 22, 2007
Carfax Study Shows Number of Flood Damaged Vehicles Doubled
A new study by Carfax shows that waves of flood damaged cars are washing up in areas all across the country. Over the last five years, the number of waterlogged wrecks revealed by Carfax Vehicle History Reports has doubled nationwide. Furthermore, massive increases have occurred in numerous states. Individual state results can be found in the table below.
“Our data shows a clear pattern of growth for those states within close proximity to the Gulf Coast or that have large populations and sprawling urban areas,” said Larry Gamache, communications director at Carfax. “Flooded cars are indeed on the move and consumers everywhere are at risk. However, using the information gathered in our database, and new resources like Carfax Xpert, used car shoppers can uncover some of the nasty secrets a car may be hiding.”
Water can fatally damage a car’s most important features – like the electrical and safety systems – causing airbags and antilock brakes to malfunction and effectively turning the car into a ticking time bomb. Under the Carfax Buyback Guarantee, cars purchased with Carfax Vehicle History Reports that do not contain DMV-reported incidents (salvage, flood damage, lemon, odometer problems) may be eligible to be bought back from Carfax.
With used car sales expected to top 44 million this year, consumers should be on high alert for signs of hidden damage and potential fraud.
“In the aftermath of Hurricane Katrina, an unprecedented effort was made by the auto industry to identify, process and report these vehicles, as well as warn consumers about the dangers of flooded cars,” added Gamache. “We are ever-vigilant in making sure our customers have the information they need to protect themselves. We urge anyone buying a used car to get a Carfax Vehicle History Report that qualifies for the Carfax Buyback Guarantee and have a mechanic thoroughly inspect the vehicle prior to purchase.”
Flood Damage Growth By State (2002 – 2006)
| AL– 374% |
| DE– 112% |
| KS– 151% |
| MN– 173% |
| NH– 30% |
| OR– 57% |
| UT– 7% |
| AR– 122% |
| FL– 96% |
| KY– 102% |
| MO– 170% |
| NJ– 46% |
| PA– 161% |
| VA– 189% |
| AZ– 84% |
| GA– 159% |
| LA– 343% |
| MS– 633% |
| NM– 27% |
| RI– 40% |
| VT– 39% |
| CA– 25% |
| IA– 28% |
| MA– 26% |
| MT– 172% |
| NV– (-4%) |
| SC– 63% |
| WA– 47% |
| CO– 77% |
| ID– 32% |
| MD– 136% |
| NC– 47% |
| NY– 35% |
| SD– 86% |
| WI– 108% |
| CT– 6% |
| IL– 23% |
| ME– 127% |
| ND– 131% |
| OH– 99% |
| TN– 52% |
| WV– 44% |
| DC– 8% |
| IN– 62% |
| MI– 162% |
| NE– (-12%) |
| OK– 231% |
| TX– 68% |
| WY– 54% |
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| *excludes Alaska and Hawaii |
Labels: carfax, vehicle
A new Carfax.com study shows that the number of "salvaged" cars checked by the company's customers increased 50% in five years.
