How Accurate is Carfax?

This year alone, I have heard from almost ten different car buyers that purchased cars relying on Vehicle History Reports (mostly Carfax) stating a lack of accident history, only to discover a prior accident history shortly after purchasing.  In most cases, the selling dealers heavily emphasized the inaccurate reports even when the repairs were easily discoverable.  I have often mentioned that it was only a matter of time before someone filed a class action lawsuit against Carfax.  Well, today I learned that 400 dealers have filed a $150 million suit against Carfax.  The pressure didn’t come from the direction I expected.  But at least someone is beginning to hold Carfax accountable for misleading consumers. Take a look at this ABC News report:

http://abcnews.go.com/WNT/video/investigation-completeness-carfax-reports-20173271

Share this post to social media...