Why Get a CarFax Report?
When buying a used car, it’s wise to do some homework. Making an informed decision rather than taking a shot in the dark can save you money and give you piece of mind. An essential part of this research is to obtain a CarFax report on any vehicle you’re serious about purchasing. Here are 5 ways a CarFax can help you make a more informed decision.
“The legal right of a creditor to sell the collateral property of a debtor who fails to meet the obligations of a loan contract” is the definition of lien on investopedia.com. You want to be sure the vehicle you purchase has a clear title with no liens, otherwise you’re completely wasting your money. A clear title means you will legally own your car and be able to sell it to someone else in the future if you so choose.
Know What You’re Getting
You can confirm a vehicle’s year, make, model and VIN number. It’s important to know the information presented by the seller is the same as the information on the CarFax. This way you can be certain you’re buying the car as it has been presented to you by the seller.
A CarFax report also shows how many people have owned the car. If a car has had a number of owners, it could be a red flag that something is wrong. A vehicle with one owner is more likely to be reliable in contrast to one that’s been passed on to a number of owners.
When a vehicle has been involved in an accident, the damages reported will show up on its CarFax report. It’s important to know what type of damage the vehicle sustained prior to purchasing. You don’t want to get stuck with a lemon.
A CarFax also tells you what repairs, if any, have been made on the car. This can sometime highlight a recurring problem there may be with the automobile. If a car has had many repairs in a number or areas or in one particular area, it may mean more repairs to come in the future.
There are a number of resources and checklists to study before purchasing a used vehicle. A CarFax isn’t the only resource you should base your decision on, but it does provide valuable information. Make an informed decision. Read a vehicle’s CarFax report before purchasing. You’ll be glad you did!