CarFax Car Values and their NEW Price Calculator

[jsherrell]

I cant believe what carfax has done to just say vehicles are worth below book with now explanations whatsoever and tanking their dealers!!!!!

This BMW is in GREAT shape only 2 owners no accidents NOTHING but they say it is worth $220 LESS than book value WTF!!!!!

CARFAX Vehicle History Report on WBSNB93566B582767=

[Jeff Kershner]

Ok, so who has seen this BS CarFax NEW Price Calculator?

CarFax - what are you thinking? Could you slice your own throat any deeper?

CarFax decides to take it upon themselves to determine how a CarFax history report "should" effect the price of your inventory.

Why even go there? Stick to your core product - History Reports NOT Pricing!!

What do you guys/ladies think of this??

carfax_value.jpg

[Matt DoCampo]

We noticed this a few months back. It was one of the reasons why we contemplated switching to AutoCheck. But we felt CarFax is the household name in used car history reports and would end up having to provide a CarFax along with the AutoCheck anyway.

[JoePistell]

For those that may consider switching, we've always used AutoCheck, not carfax. Customers ask for the "CarFax" like someone asks for a "Kleenex".

[Jerry Thibeau]

Another alligator all grown up.

[mattwatson81]

Perhaps if they only make it show a positive adjustment it would be fine. Just hide if it shows a negative value.

Then would it be a great new feature?

[Alex Snyder]

Matt - there are many instances where a car is valued higher by CarFax. In that case, it does help, but the question has nothing to do with positive or negative values. I have three questions:

1. Why is CarFax dictating Used Car values at all?
2. How are they coming up with these numbers?
3. How can they launch something like this without giving all of their dealer customers a heads-up? If they did give us a heads-up then they didn't make it loud enough. This has been quite surprising.

[Stefan]

Accident Report ? Lets ad $30.00 ... Got 2 Owners ? Lets deduct $250.00.

[Jerry Thibeau]

2. How are they coming up with these numbers?

I am betting they are getting these numbers from one of three companies. Can't wait until this cat is out of the bag. This is on par with New Coke!

Who are the idiots that come up with this stuff? I would love to see somebody from Carfax come on here and explain their reasoning.

[ECURB]

I want to play devils advocate here.... (and I may or may not agree with what I post...lol)

This feature is a closing tool and really hurts nobody smart enough to use it that way...

Lets say it says a vehicle is worth $350.00 less than book value.

How does that hurt you at all?

Unless you own the vehicle for way too much $$$ it is not going to hurt to sell the vehicle for $350 under a book value that does not even exist.

I think this was implemented as a closing tool to get people into a buying mindset and out of a shopping mindset. It assures them it is a safe bet and a good deal to purchase that vehicle for $x.xx +/- "book value".