Is CARFAX Report Worth the Price? All You Need To Know

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Buying a used car can be a good deal, but there are many considerations to keep in mind when shopping for one. You should pay close attention to a vehicle’s reliability, safety features and operating and maintenance costs. 

But it’s also helpful to assess a car’s current condition, check all its functioning components, and know a bit about its previous ownership. Having a good sense of a car’s past ensures you spend your hard-earned dollars on the best deal you can find. This is where a CARFAX report comes into play.

What Is a CARFAX Report?

A CARFAX report is a comprehensive document that provides crucial insights about a car’s history. Digging deep into thousands of databases that maintain information related to used vehicles, this report can unveil critical facts that might not be immediately visible to the naked eye or revealed on the seller’s disclosures.

A CARFAX report provides a window into the car’s past, equipping a potential buyer with essential data to inform their purchase decision. Whether you’re looking to buy from a dealership, an independent car seller or even a friend, getting a CARFAX report can provide invaluable peace of mind, helping you feel more confident that you’re making a smart, well-informed purchase.

Is It Good To Get a CARFAX Report?

Getting a CARFAX report can significantly reduce the risks associated with buying a used car by alerting you about any issues that may require special attention. Though minor accidents that have been repaired don’t frequently affect a car’s resale value, more significant events can indicate problems that make a used car a good one to avoid.

A CARFAX report can do more than help you avoid risky vehicles. It can help you find some of the best used car deals available. A CARFAX report provides necessary, detailed information about a car’s past, including the following:

• Ownership history
• Service records
• Any accidents or damage the vehicle might have suffered

This report lets you better gauge the real value and condition of the car beyond its physical appearance or the seller’s assertions.

What Will a CARFAX Report Show?

A CARFAX report will provide a wealth of information, such as:

• The number of previous owners
• Accident or damage reports
• Service or maintenance records
• Recall notices
• Odometer readings
• Other potential issues like salvage titles or “lemon history” which shows the car has needed frequent repair for recurring problems
• Can also show if a car was used as a taxi, police vehicle or rental car

This broad background data can offer valuable insights into a car’s long-term reliability and overall condition. The report details past ownership, including whether the vehicle had been privately owned or used commercially, and other used car red flags like whether the car was involved in any serious accidents or incurred damages from events like floods or fires. A CARFAX report will even contain information about the vehicle’s maintenance history.

Is There a Better Report Than CARFAX?

CARFAX is one of the most popular and trusted vehicle history report providers, but it’s not the only option. AutoCheck, a service offered by Experian, is another reliable alternative. AutoCheck uses a different rating system, leading to slight differences between AutoCheck and CARFAX reports.

Some buyers prefer AutoCheck because it offers a numerical “AutoCheck Score” for each vehicle, making it easier to compare multiple cars. However, CARFAX provides a more detailed and complete vehicle history, though it does come at a higher price. While AutoCheck reports are available for as little as $24.99, CARFAX reports are a bit more expensive at $44.99.

Other options, like the ad-supported Kelly Blue Book car pricing service, offer a range of prices based on a car’s make, model, year of manufacture and condition. While CARFAX reports show specific pricing details based on a particular car’s history, Kelly Blue Book derives its valuations from historical pricing data. In other words, the service is more of a price trend tracker.

Should You Check CARFAX Before Buying a Car?

Getting a CARFAX report is a good idea whenever you’re considering purchasing a used vehicle. The details in a CARFAX report can be vital to evaluating a vehicle’s real condition and actual value.

Think of it as hiring a detective to delve into a vehicle’s past. While a seller or dealer may provide specific information about a car, a CARFAX report helps verify those claims, which ensures a complete and accurate view of a car’s value. For instance, a claim about the vehicle having never been in an accident can be quickly verified through the report. 

Having this in-depth historical report can dispel any uncertainties you might have regarding the vehicle’s history, provide proof of a used car’s true value, and help you make a well-informed choice in purchasing a used car.

Does CARFAX Give You the Value of a Car?

CARFAX offers a history-based value that gives you a distinct price for every used car, taking into account its specific history. This tool uses details such as previous accidents, service records and the number of prior owners to calculate a precise, VIN-specific price for every vehicle in the United States.

The CARFAX value is automatically included in every CARFAX report at no additional cost and can provide a solid price basis for negotiating with a used car dealer or other seller.

Final Take

A CARFAX report includes pricing information specific to each vehicle along with all the essential facts that influence a car’s value, such as its accident history, ownership records and any lurking maintenance issues. Though there are other services like AutoCheck and Kelly Blue Book, CARFAX provides detailed, reliable data and is a trusted service in the used car market.

Cynthia Measom contributed to the reporting for this article.

Information is accurate as of Oct. 20, 2023. 

Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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