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vinrock · May 10, 2010

Dan P., the simple car owner who had tried to trade in his used vehicle for a new one, is the only commenter to this article who properly capitalized the word "CARFAX".

He has also concluded from this single experience that "more often than not... these reports... create a monster... that must be corrected...".

May 9, 2010

I am not a dealer, but just a simple car owner who has tried to trade his vehicle in for a new one. Here is my take on this new history impact feature. Sure, its new and no one at CARFAX wants to share how they are coming up with this impact number. If it truly were an accurate reflection of what the vehicle history impact had against the trade in value or retail value, I think it would seriously help to correct the biggest flaw with these type of reports. These type of reports, more often than not, create a false value of a vehicle. Take for instance the SUV I want to trade in. It was involved in an accident 6 months after I bought it new.(I rear ended a car doing about 5 MPH, after almost stopping)I needed a new hood,radiator,grille, lights, etc. There was no frame damage and the car has driven perfect from that time almost 3 years ago. Yet, I go to the dealer and they want to heavily penalize me because the CARFAX report says there was an accident? Because the buyer of a used car wants the car heavily discounted for an accident? The car drives perfect! I paid the deductible, the insurance paid for the car to be repaired, I have been and will keep paying insurance surcharges and now a hefty "accident deduction" off my trade in? This is the true problem here. Everyone is trying to heavily discount the vehicles value, not on the "impact of the vehicles accident history" but on the word "accident". I am not saying that this impact value that CARFAX has come up with is a true indicator of the vehicles +/- value, just that something like this needs has to be done to correct the monster that these reports create.

May 4, 2010

I posted this in the other thread about "CARFAX - What are you thinking?" but one of their sales guys sent me a .pdf of this release, and with "what dealers are saying" about the product, and it quoted Troy Shields from 'unknown dealer' comments from that other thread as some of the great things dealers are saying about the product.

They're aware of this feedback, but aren't addressing it at all - at least not publicly. A little interesting that the person's comments they're using are from an unknown dealer - has Troy Shields been active on here outside of the Carfax comments before?

May 3, 2010

Great point Brian, perhaps using the other more traditional forums, such as 20 groups and state associations.

May 3, 2010

How's that go again Brian, "Don't piss off an SEO guy"?
http://www.prlog.org/10661258-carfax-ignores-used...

May 3, 2010

It would seem from the tone of the press release that CarFax is betting against the 5% of dealers who MAY engage in online forums like DealerRefresh.

Their lack of direct response tells me that they believe that you (members here) have no ability to make enough noise to impact their business model.

The question at hand is how do we make the other 95% hear and particpate in this discussion?

andwrig · May 3, 2010

Carfax definitely does not belong in the price dictating game. The whole concept is awfully subjective. Provide the history report and be done with it. The market dictates the price. Just like one owner cars bring more money than non one owner cars. How much is up to the market. It's putting the cart before the horse. They are trying to add features to their product so it doesn't go stale I guess. Sometimes one just needs to leave well enough alone.

May 3, 2010

Carfax seems ill equipped to deal with this situation in a transparent manner. It certainly is a telling sign regarding their respect for the dealers they claim to represent. Autocheck will be getting a call in short order.

If we as dealers buried our heads in the sand when one or in this case several of our customers had complaints we would be finished. I am very surprised that Carfax can claim a position in the automotive digital world and be so naive to its scope.

Anyone care to explain reputation management to our friends at Carfax.

tomwhitejr · May 3, 2010

Dealers do NOT want anyone in the "pricing game" unless said entity could actually bring some clarity and accuracy to the market.

NADA and KBB are already providing data that finance companies, floor plan providers, et al, are using to make lending decisions with little regard for the true actual cost of the inventory acquisition. I can deal with that; however, adding yet another valuation tool, with no idea as to the method of valuation is simply ludicrous.

Nothing more than a company on the verge of extinction moving into another vertical in which they have little expertise or experience to keep the revenue stream flowing... Kudos to them for creating a product paid for by the dealers and then using that product to screw the dealers right back... The Press Release is laughable in its arrogance and ego...

I have been an AutoCheck user for over three years now and have been very satisfied with the service and support. I have had NO negative feedback from customers requesting CarFax branded history reports when provided an AutoCheck...

I would recommend any dealer concerned about this latest CarFax initiative to look into AutoCheck.

Just sayin'

May 3, 2010

I simply don't see this feature as a win / win type of value added feature. It is one sided and that is not what we as dealers are paying for.

Carfax should back away from the window sticker and continue doing what it is good at, Vehicle History Reports.

I have asked our rep to explain deductions on certain cars and have heard no response. (email) The feeling that regardless of whether they know "what book" or not, the company line is to stand behind the press release and try not to get any on you.

Brian Pasch · May 3, 2010

From what I have been hearing, car dealers do NOT want Carfax in the pricing game. Is this how you feel?

May 3, 2010

I just wish CarFax would say where these values are coming from.

May 3, 2010

O.k well, better late than never I guess. So now that we have the press release, how does this address the previous conversation.

Does Carfax belong in a position of pricing automobiles and should dealers be forced to have this new feature on their websites?

Alex Snyder · May 3, 2010

Is this what you wanted to hear?

FOR IMMEDIATE RELEASE

CarFax launches new history impact tool

CENTREVILLE, Va. (April 30, 2010)

Carfax has enhanced its Vehicle History Reports with a new tool – the Carfax History Impact. Every used car has a unique history that differentiates its value from other like vehicles. By analyzing market pricing and millions of used car transactions, the Carfax History Impact reflects the amount consumers have adjusted a vehicle’s retail book value based on the information in Carfax Vehicle History Reports. Dealers are using this tool to better determine the right price for their cars.

“Before putting any car on our lot, it’s important for us to know what a customer might expect to pay for that car,” said John Donnelly of Findlay Automotive Group. “The Carfax History Impact gives a clear understanding of how information reported to Carfax adjusts the retail book value that our customers already use in their research. We’re confident that our vehicles are priced competitively in the market and we’re holding gross on each sale.”

Dealers have long considered vehicle history as a key factor when evaluating and pricing used cars for their inventory. The Carfax History Impact gives dealers new insight about the market value to help stock the right cars at the right price. In addition, used car shoppers have more confidence during the buying process knowing how much the market value is adjusted based on vehicle history.

“We have an unlimited Carfax account, so we’re running a Carfax on everything prior to acquisition,” said David Perrin, Pre-Owned Sales Director at Fairfax Honda. “Whether at auction or on trade, it helps us ensure we’re paying the right price for cars our customers want. In addition, we’re not unknowingly purchasing or trading cars with hidden problems, which saves us money and builds customer confidence. Our sales staff gives every customer a Carfax Report and reviews it with them, reducing our days turn and getting us top dollar for our inventory.”

Carfax worked with thousands of dealers to develop the Carfax History Impact. For the past several months, the Carfax History Impact has appeared on all Carfax Vehicle History Reports run by subscribing dealers.

“For years used car shoppers have asked for help determining how vehicle history affects value,” said Larry Gamache, communications director at Carfax. “The Carfax History Impact shows you how much more or less than retail book value other consumers pay based on the reported history, taking the guesswork out. Having more information about what the customer expects to pay at retail helps dealers acquire vehicles at the right price and ultimately make more money.”

Carfax subscribers are encouraged to contact their Carfax Account Manager for more information.
For Press info Contact: Christopher Basso
Carfax Public Relations
Phone (703) 934-2664

Apr 3, 2019

Dealers should stop using services like this all together. These "reports" have single handily ruined used car pricing. If there is "mechanical" or "maintenance" history available, this could be useful (but what about the "mechanical" or "maintenance" that is not posted/listed?)

The body damage/accident information is an absolute joke, yet,this is the information that most people seem the most concerned about. This information comes almost solely from police reports. Insurance companies do not report crash information as the auto "check" companies will have you believe. I respect all law enforcement officers, but last time I checked, these guys are not experts in analyzing auto damage and auto damage repair.

Carfax and companies like them are solely responsible for the diminished value placed on vehicles just because they happen to show up on one of their reports. Just because the car was in a crash does not mean that it was not repaired properly. What about the cars that were in a crash (or suffered other damage) and do not show up on a report. Some of these repairs are done "improperly", but some how a car with an improper repair is now worth more than a car with a "proper" repair.

Dealers: Stop using these services! Instead, learn how to appraise cars with excellent repair work vs. poor repair work. (oh, and stop using "lot jockey's" to repair damage....this does not help either)

Jul 7, 2013

As a consumer I think it's useful to see what has happened to a car in its history because 90% of the time a sales person isn't going to say this car has been in an accident. Plus carfax only has reported incidents on it. The car could have been through more than anybody knows about. Plus there are tons of appraisal tools out there for figuring out prices for used cars, I don't think this is really a big deal. Edmunds has an app that I think is pretty amazing but I'm curious what the sales people think about it.

Jun 7, 2013

and if its any consolation, after that 09 Mercedes was sold 2 years later, it now has a +500 price adjustment lol

Jun 7, 2013

I have a carfax report on all of my vehicles, and never once has a customer even brought this up. Its not a big deal. Is it stupid? Very. But their price evaluations mean absolutely nothing. Ive had 1 owner vehicles with 15 service records that had the same 'price adjustment' as wrecked vehicles. So yes, its a dumpsterfire for Carfax to be doing, but it hasn't affected anything with my sales.

Apr 7, 2012

I'm an Auto Appraiser, I specialize in Diminished Value, I'm in the process of negotiating a settlement with another appraiser using the carfax price adjustment as fact. This is simply outrageous! The value on Crafax for a 10K wreck is minus $450.... this makes no sense whatsoever! http://www.diminishedvalue.co

Apr 7, 2011

NEED TO FNOW RETAIL PRICE

Apr 7, 2011

WHAT IS IS THE VALUE OF MY2008 DODGE GRANDE SE VIN 1D8HN44H688137246 SPORTS VAN 3.3L V6 SFIOV FRONT WHEEL DRIVE

May 24, 2010

It seems we car dealers are once again circling the wagons. i'm fed up with it. I will not be dictated to by these arrogant bastards. I canceled my car-fax account. Imagine if every dealer in America did the same thing.

May 12, 2010

Dale, Thanks for the clarification on the fact that you now have the ability to adjust for low ball listings. My assumption was based on a conversation I had in a vAuto training class over a year ago where I kind of stumped the trainer with that low ball scenario. I will also pass this info to our Used Car Managers and please accept my apology for assuming this issue was not addressed in a timely manor or at all.

Gerald · May 10, 2010

Rob-

Amen- It isn't about the pricing objections. But what I can't stand is how these vendors are constantly trying to win influence of consumers (Autotrader's trade-in value and the new Carfax fiasco) illustrate to me their marketing departments may not be hitting on all cylinders. The dealers are the ones who pay their bills, and they need to be finding ways to strengthen those relationships, not trying to win over customers (I realize Carfax's success is largely predicated on being branded as the de facto vehicle history check).

I have been with dealers who have used either system, and for me, the Autocheck scoring system is probably the strongest argument for a premium price for your vehicle when it scores higher than the average vehicles.

As one earlier comment pointed out, customers may ask for the Carfax, but when showed Autocheck, and the differences explained, I have never had a customer decline the Autocheck.

May 5, 2010

The price of a used car is impossible to be determined by some nation wide service. However, due to the massive amounts of people who try to provide this service the validity of what they are saying, even in the customer's eyes, is being extremely diluted. Market conditions including availability and demand consistently effect the price of used vehicles far more than many of the things that these companies use to determine the price. I had thought of carfax as a company trying to protect the consumer but I don't believe that this new product falls upon those lines. CarFax should stick to what they are almost good at.

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