You Should Check Your Vehicle’s History Report Regularly (Even If You’re Not Selling It)
With prices for new and used cars still at sky-high levels, buying and selling a car has become much more difficult than before. High costs have also made the trade-in cost of your existing car a critical aspect of any deal. Getting the most out of an old car is increasingly becoming the only way to make buying a new car possible, and many people go to a car dealership expecting that trade-in. At the same time , the rising cost of used cars has encouraged people to view them more as an asset and expect a good price when they decide to sell them.
These days, a common step in any car transaction is to check Carfax’s Vehicle History Report (VHR) (or Autocheck ), which will show you how many owners the car has had, possibly maintenance records, and any accidents the car has been involved in . These reports also often indicate whether the vehicle was ever listed as “totaled” by the insurance company, which may indicate major damage that has been repaired. If you’re looking to buy a used car, VHR issues are a very good reason to pass up or reduce your offer, and if you’re a car dealer, VHR red flags will definitely lower your trade-in value. car.
That’s why you shouldn’t wait until you ‘re trying to sell or trade a car to check the VHR—just like your credit reports, you should check the VHR on your car once a year.
Common Inaccuracies Found in VHR
Just as the worst time to discover an error on your credit reports is when you’re sitting at the bank applying for a loan, the worst time to discover that your VHR contains inaccurate information is when you ‘re sitting at a dealership or negotiating with a Private buyer of your used car.
And VHRs can be very inaccurate. Problems include:
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Missing information. Companies like Carfax rely on reports from a wide range of government agencies, insurers and repair shops, but not everything is reported correctly or through the right channels. Failure to know the specific details of an accident or repair can make it seem like a more serious problem or turn a minor fender bender into serious damage.
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Fake information. VHRs may incorrectly report lack of maintenance (due to missing reports), incorrect odometer readings that can undermine your vehicle’s perceived value, or even report ghost accidents that never happened – and it is usually impossible to figure out where the false information came from. where it comes from (Carfax, for example, does not disclose the sources of any specific details about VHR). One journalist reported Carfax video showing his car’s airbags deployed, indicating a serious crash. The only problem? His car did not have airbags.
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Fake information. Another problem that may be lurking in your car’s dash cam is data that is technically correct but incomplete. Most VHRs list a vehicle as a “total” (considered a total loss by the insurance company) without context—insurers used the term “total loss” to indicate that the cost of repairing the vehicle exceeded its value. . This is not a description of the level of damage. But many buyers and dealerships will see a “total loss” and assume the vehicle was severely damaged and then repaired, which can lead to low offers or denied trade-ins.
Understanding that VHR is wrong is one thing. Fixing them is a whole other battle.
VHR fix
Another reason to regularly check your vehicle’s VHR is the time and work required to correct these errors and inaccuracies. Both Carfax and Autocheck have simple web forms you can fill out if you find an error in your VHR, but it’s not as easy (or as quick) as filling out the form, and it’s nearly impossible to find a phone number so you can talk. to anyone. You will also need to provide some evidence that the VHR is faulty, which could include things like
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Competing VHR – For example, if there is an error on the Carfax report that is not reflected in the Autocheck report, it may be worth paying for a second VHR. They cost from 25 to 40 dollars .
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A police report or other documentary evidence of an accident that contradicts the VCR data.
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Inspected by a reputable mechanic or dealer to ensure there is no damage.
Carfax and Autocheck say they will respond to disputes within a few days, but there is no guarantee it will be that effective. You may be asked to provide even more documentation, or you may not hear back from them at all – if you’ve ever disputed something on your credit report, you know how long it can take and how frustrating it can be.
And that delay can be costly if you’re trying to sell or trade in a car. Delays can impact financing if you’ve locked in the rate and cause all sorts of ripple effects in your financial life, so it’s far better to resolve any discrepancies in the VHR when you’re not selling the car and can move closer to resolving the issue calmly and at your own pace.
Vehicle history reports are useful tools when purchasing a vehicle, but ensuring their accuracy often depends on the vehicle owner. If you want to avoid unnecessary delays and hassles in getting the full value of your vehicle, get your VHR today and make sure it’s accurate.