Wholesale Mercedes

AUTO VALUE GUIDE ..BEFORE WE LOOK UP..CLEARING UP SOME CONFUSION AND SOME DEFINITION OF TERMS!

THERE ARE MANY DIFFERENT "VALUES" BANDIED ABOUT WHEN TALKING ABOUT A CAR'S VALUE!.

Vehicle History

The history of your vehicle has become more important than ever.

Only a few years ago Carfax and other similar vehicle history databases were used only by car nuts and people buying expensive collector cars.

It is at the point now that it is hard to sell a car without a Carfax report

There are several things to know about carfax

The database goes back to around 1980 and starts to deteriorate in the 81 82 83 84 years back.

The database relies on data purchased from outside suppliers such as DMVS,Emissions Stations,repair shops,Police Departments,Auto Auctions,Salvage Auctions,Insurance companies.

With this volume of data and so many sources there are a lot of errors and omissions

But there are a couple of problems:

1]There is no way to correct these errors .

2]People accept Carfax as the word of god.

What this means is all the better databases to appraise your car incorporate deductions for negative history

You should be aware that this will be used "against" you when you trade in your car if anything turns up just like the consumer browbeats sellers with Carfax when they are negotiating a purchase and the Carfax shows a discrepancy

Since most of these history items are beyond your control as a car owner I won't spend time on them

But much like a black mark on your report card can affect your college career; you should think hard if you have a decision that will end up on your "transcript"

What I mean is this: lets say you are driving your 2009 Camry in a supermarket parking lot and someone backs into your car and damages the bumper.

you have collision insurance ,so your first impulse is to call the police and make a routine accident report to insure a payment for the repair

But is this a good decision?

Two things are likely to happen whether you ever get money for the repair or not 1] the police database will tell Carfax you reported a accident and 2] the insurance company database will report to carfax on the accident.

The details are often recorded by the database in such a way that they look worse in the report than they actually are

If someone reported a stiff neck the police database will show "personal injury accident".

when someone orders the report years later this small $400 insurance payment can lob thousands off the resale value of your car

So was it a good idea to report it or would it have been better to suck up the damage yourself ? ..looking at the big picture?

One of the problems that results from a example like this is the lack of understanding of the difference between "Damage History" and "Salvage History" on the part of the public

Worse still;Carfax also does not break down salvage cars with hail damage or theft recovery from say cars that rolled over and caught fire : just "salvage history"

The supermarket example above will result in huge red letters on the CARFAX report stating "WARNING: DAMAGE HISTORY FOUND !Caution !"

... damage history because the accident was reported to the police and the insurance company paid the claim...

I can tell you from experience that people are so nervous in a used car deal that they will never believe the supermarket accident and subsequent "Damage History Found" is not the exact same thing as a Salvage car- crashed -totaled and rebuilt

This phenomenon is such a problem that even the car dealer auctions require disclosure of Damage history when the car is auctioned

So be aware of the History as a major factor in the cars value and act accordingly to not make it worse than it has to be

Whoever is buying your car or taking it in trade is sure to pull a report before they negotiate a price

I recommend at the least taking and keeping detailed photos of the damage for when you sell the car after the repair

Start Here .

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Appraisal Databases

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