Many consumers are not aware of how easy it is to make safer purchases. The market place for used vehicles has changed drastically over the last decade, yet the process of how we buy a car has remained largely the same: we see a vehicle we like and can afford; we request information, take a look in-person, see if the vehicle functions properly and, finally, make our buy. By the end of the process, we hope we have purchased a vehicle that is durable, cost-efficient and reliable.
The introduction of the internet, however, has shifted this process significantly and has increased the ability of buyers to make safer and more knowledgeable purchases. Unfortunately, many consumers are not aware of how easy it is to do so. With “The Modern Way to Check a Used Car”, CARFAX Europe shows used car buyers how to reduce the risk of costly mistakes, optimize searches and save valuable time.
Today, many used car shoppers look for and compare the same criteria when researching used cars. After they have defined the vehicle category and price range, the following factors are usually used in the research process to compare vehicles online:
First is the date of first registration
The date of registration often indicates what the current and residual value is of the vehicle. With exception of old-timers, the value of cars depreciate every year, so an earlier date of registration often means a higher mileage reading and consequently a lower price.
The mileage on the vehicle is another important factor
The mileage says much about the value, but even more about functionality and durability. The higher the mileage, the higher the risk and probability of future reparations.
The “extras” of a vehicle is equipment tailored to the wishes of the consumer
The equipment is meant to increase the comfort of the driver and therefore increases the price. Usually, these “extras” are listed in the car’s online ad.
The car inspections
Thorough inspections can be a main influencer in the decision of which car to visit. Did the vehicle pass the mandatory inspections for road safety? Failure to research inspections brings uncertainty on whether the vehicle will pass or not, which in turn may lead to costly repairs.
After research and analyzing the factors above, we would usually plan the next step: scheduling the visit. Having found a vehicle with the right price, make & model, date of registration, mileage, and value added equipment that has passed its inspections; it’s time for the test-drive. Valuable time is invested in order to review the car and gain confidence before making a purchase. Still, the discovery of scratches, evidence of accidents, odometer fraud or other hidden information may still ruin the purchase. But we have to give it a shot.
And this is exactly the part where the traditional research should develop into ‘a modern way of researching’. While on the spot inspections are vital, consumers can save time and gain insight into the car before scheduling a visit.
Wasted trips, costly mistakes can be prevented and better purchase decisions can be made. This modern way focuses on learning more about a car’s history instantly simply from your computer or smart phone.
The CARFAX Vehicle History Report is a carefully summarized report that provides detailed information about the vehicle history that is compiled from trustworthy sources such as inspection companies, governmental agencies, road administrations, and many more. Not only can buyers save valuable time, but they also get to explore the unique history of their vehicle.
Now with the modern way, consumers may discover so much more about a vehicle such as the following factors:
Odometer fraud. An age old-scam that significantly reduces the value of a car and leads to costly reparations. The CARFAX Vehicle History Report indicates whether a car’s odometer reading is consistent with mileage data reported to CARFAX. Cars with inconsistent mileages were mostly subject to mileage rollback. Consumers can discover if the car they want to purchase is one of them.
High or low mileage? It’s difficult to determine whether the mileage of a car is ‘high’ or ‘low’, because to what would you compare it? CARFAX can tell you whether your car as a high or low mileage compared to the average mileage of that make & model, age and fuel type. Even when a car has a generally longer lifespan, you can still determine if its mileage is high or low.
Was the vehicle in private or commercial use? As with electronic exhibition models in shops, cars that were in commercial use may be less functional as hoped for. Normally, these cars also have a lower value. Find out with a Vehicle History Report if a car has a history as a taxi or rental vehicle. Don’t underestimate it, these cars are just as much part of the used car market as any other!
Ever thought about import status? Check now if the car was ever imported or exported, and, from where. A car that was imported from an eastern European country may give you a completely different picture, than one that was only in domestic use. Cars that were exported from the United States to Europe have a high probability of containing “negative history.” Not knowing the import history can lead to unforeseen costs. It’s all available in the Vehicle History Report.
Find out if the car is registered as stolen. Every year, the police tracks used cars that were stolen and sold to unsuspecting consumers.
Check for clones. VIN-Cloning is a serious and frequent crime in Europe. Criminals steal the unique vehicle identification number (VIN) from supposedly scrapped cars and use the identity for other cars. It’s the things you don’t know that may hurt you. Discover it through the CARFAX Report.
See salvage and scrapped titles. Such titles usually stem from heavy accidents and severe damages. Find out if a car is reported as “scrapped” or “salvaged” with a CARFAX Report.
Find out the number of previous owners. The number of previous owners influences the price of a vehicle significantly. Usually, the higher the number of owners, the lower the price.
Service & repair history. Knowing the service & repair history of a car helps to assess whether the car is well maintained. CARFAX has millions of service records, which can help lead to better purchase decisions.
All this information helps used car shoppers get a better overview about the vehicles they are interested in. It saves time and money to review these facts before incurring the expense and hassle of viewing a car in-person. This increased level of knowledge can likewise lead to more confidence when buying a used car.
Using the CARFAX Vehicle History Report to get important information about a car is nothing new: millions of consumers in the US and Europe have already used CARFAX Vehicle History Reports to make better purchase decisions.
More and more used car dealers are also providing free CARFAX Reports online to give used car shoppers more information. Check on carfax.eu for your own Vehicle History Report or ask at your CARFAX Advantage Dealer