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Thread: Due Diligence

  1. #21
    Richard,

    I agree that Carfax is not accurate as my brother was looking into buying a Dealer Certified car with clean Carfax. When his insurance checked what is called a " Clue Report " it showed it was involved in 3 accidents, 2 with property damage of well over $ 6,000. This report is used to check on the personal claims including home damage reported or disputed.

    Brian

  2. #22
    Senior Member
    Join Date
    Oct 2010
    Location
    Florida
    Posts
    1,580
    A lot of the "Dealer Certified" cars are loaners.

    Once a dealer rotates a new car into being a loaner they get credit for "selling" that vehicle. After a few thousand miles they move it over to the used car lot where the big profit margins are.

    A decent size dealer may have 100 to 150 loaner cars. It's a very profitable business.

    Richard Newton

  3. #23

    Damage History

    Quote Originally Posted by bliebler View Post
    Richard,

    I agree that Carfax is not accurate as my brother was looking into buying a Dealer Certified car with clean Carfax. When his insurance checked what is called a " Clue Report " it showed it was involved in 3 accidents, 2 with property damage of well over $ 6,000. This report is used to check on the personal claims including home damage reported or disputed.

    Brian
    Not addressing accuracy per se, my experience.....most body damage is paid through insurance claims and it is surprising gaining a Clue Report as insurers don't normally share claim information except with other insurers. However, in my opinion any buyer should have access at the time they are considering purchasing/insuring a vehicle....it won't hurt to ask in any case. Most mechanical damage is not insurance claim business; at dealers and independents. Perhaps some body shops cooperate in providing information on body damage; most provide mechanical information. The best information comes from an informed buyer.
    Roy Smalley
    member 877

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