CARFAX – Leveraging Life – Friday Favorite

Most Fridays I feature a website or a blog that for me has become a favorite. It maybe a favorite resource, a source of inspiration, or just some distraction I frequent. Give the Friday Favorite a look, read, or listen, and please feel free to comment about mine and share a favorite or two of your own in the comment section. Who knows maybe we will feature one of yours as a future Friday Favorite.

 

Friday November 12, 2010

 

While CARFAX is not a free service, it is a service that I wholehearted endorse. Not only do we use it in all three of our new car dealerships, but I used it when I owned my own dealership, and have referred family and friends to CARFAX for personal use prior to purchases made outside our dealerships. In a typical month we pull over 100 CARFAX reports as we appraise trade-ins and evaluate purchase opportunities and would not consider trying to make those decision without first consulting a CARFAX report.  

-Who They Are-

In 1984 Carfax was founded initially as a resource for state to combat odometer fraud. By working closely with the MissouriAutomobile Dealers Association, in 1986 the company offered the early version Carfax vehicle history report to the dealer market. The broad appeal of the service now being used by all 50 states and most new car dealers along with the greater access to the internet facilitated universal appeal when CARFAX incorporated insurance accident reports along with titling documents in every vehicle report.   

-What They Do –

Every vehicle produced has a unique vehicle identification number (VIN) that tells a story both before and after the sale; and the story continues sale after sale, and incident after incident. Think of the VIN as if it was a vehicle’s DNA, which offers a glimpse of where it was created, what components original went into it, who owned it, how and where it was maintained, and if anything happened noteworthy along the way. CARFAX ultimately became an enormous clearinghouse of information by utilizing all the information that was processed by companies who use the VIN as a means of tracking data.

State Titling Agencies: Odometer and Ownership data.

Insurance Companies: Accident reports, Claim history, Salvage sales records.

Manufacturers: Production dates, Recall notices, Buyback and lemon law settlements.

Fleet, Rental, Leasing Companies: Sales & Service records, Maintenance history, Odometer records 

FEMA: Disaster area designations with alert status on area vehicles-Flood alerts etc.

Dealers: Sale history (new & pre-owned), Service records, Odometer records

Auctions: Finance company to dealer and dealer to dealer ownership transactions with odometer records

-CARFAX and You-

By choosing to use CARFAX, the history in no longer a mystery, and you have postioned yourself to leverage all the information provided in the report to make a purchasing decision you won’t regret later. 

~Tom

trusting God period!!

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