Negotiating a great price on a used vehicle should be the starting point in the purchase process. While an inspection by a qualified mechanic can identify problems with the engine, transmission, drivetrain, and extras, only a vehicle history report can provide important details about the car or truck’s past.

When prospective buyers locate an appealing used vehicle, they usually have no idea as to how well it was maintained, how many people have previously owned it, or whether it has been in any accidents. Without a vehicle history report from a company such as Carfax, there is no easy way to establish if the vehicle has been rebuilt or is unsafe. Cars that have been in serious accidents can have defective steering mechanics, bent frames, wheel misalignment, or faulty air bags. Even if the vehicle has only been in a minor accident, its value will be diminished when compared to a car or truck with a clean title.

Vehicle Scams

Vehicles that have experienced catastrophic events such as serious accidents, fires, or exposure to flooding are often written off or “totaled” by insurance companies. This essentially means that the vehicle has no appreciable value. Sometimes these cars and trucks are purchased for junk value and restored to operational condition by mechanics. The success of this type of restoration can vary, leaving the buyer with a car that may structurally collapse on impact or rust prematurely because of water damage. In the best-case scenario, the vehicle will have only a fraction of its original value.

State laws regarding salvage titles vary widely. For example, Minnesota law will not assign a salvage title to a vehicle worth less than $5000. Florida considers that a car is salvaged when the extent of the damage is at least 80% of its previous value. This creates an opportunity for unscrupulous resellers to engage in “title washing.” In this scenario, the seller relocates the vehicle to a state with more lenient salvage title laws and registers it there.

Carfax Reports

Vehicle history companies such as Carfax, AutoCheck, and CarChex collect data from literally thousands of different sources on virtually every vehicle with a valid VIN number. Information is gathered through state DMV divisions, police and fire departments, vehicle auctions, and collision repair facilities. The level of detail provided is extensive and includes critical items such as:

• Accident damage reports
• Stolen vehicle reports
• Certified odometer readings and ownership transfers
• Collision repair history
• Lemon titles
• Service and maintenance history

Order a Vehicle History Report

A vehicle history report provides assurance for the buyer that a car or truck has the same value that is reflected in the purchase price. A Carfax report will identify every major event in the vehicle’s past and also help the buyer avoid predatory salvage title scams.

Receive a FREE Car Fax Report when you choose Wayne Westland Federal Credit Union for your auto loan financing. Members who are not getting an auto loan from WWFCU can still receive a car fax for ONLY $15. That is a savings of $19.99.

Call us, or simply stop in to take advantage of this special offer!