What does accident reported on Carfax mean?

If an accident has been reported, Carfax’s Vehicle History Reports can tell you where the damage was on the car and, in many cases, the severity of the damage. Read this to learn more about how to read accident damage on the VHR.

Does an accident devalue a car?

If you are involved in a car accident, this number can get way lower. Following a car collision, your vehicle will depreciate 10\% to 25\% more than the average rate. Factors that can influence this depreciation percentage include the car’s age and its condition after the accident.

Do dealerships take cars that have been in accidents?

Unfortunately, even if your vehicle was repaired to its original state after an accident, its trade in value is likely to decrease. Many buyers do not feel comfortable purchasing a vehicle that has been in an accident, so the dealer will adjust price to resell the vehicle.

How bad is an accident on Carfax?

In many cases, the Carfax Vehicle History Report not only details where on the car the damage occurred, but also the severity of the damage. In fact, of all the used cars for sale now (whether through dealers or private-party sellers), about 1-in-4 have sustained damage.

How much value does a car lose after being in an accident?

Another report from Carfax that the average vehicle loses $500 in resale value in depreciation if it has an accident on its record. The number spikes to an average of $2,100 in depreciation if the vehicle sustained significant damage.

Should you buy a used car with an accident history?

However, buying a used car with an accident history is understandably a little more contentious. A dealer might not know the full extent of a car’s damage history, or how severe the reported damage was. And the actual damage itself can lead to unpredictable issues down the road.

Would you buy a car with minor damage from an accident?

If a car as “accident reported” , or “minor damage” look for when this happened in the CARFAX report and physically look for the repaired damage on the car, in person be Yes, I would if the parameters of the price are in line with fair market value for vehicles that have similar CARFAX reports.

What should you look for when buying an accident car?

A car that was hit in back and lost its emblems may be a sign that the body shop cut corners on the repair. Maybe the biggest thing to consider when you’re thinking about buying an accident car is its title status. In many states, a salvage title is issued to a vehicle in which the cost of repairs exceeds its present value.

How important is a Carfax report when shopping for used cars?

Shoppers looking for used cars need not turn up their noses simply because there’s damage reported. In fact, smart shoppers can dig a little deeper and save themselves money by investigating the severity of any damage using a Carfax Vehicle History Report. Damage from accidents and other causes is common.