Recently Diane Lade, a reporter for the South Florida Sun-Sentinel, wrote a story doubting the validity of data contained in CarFax reports. Most car dealers will gladly run a free CarFax report on a specific car you are considering buying. The problem?
“I’ve found CarFaxes to be accurate less than 60 percent of the time,” said Tim Blake, a Miami attorney specializing in auto fraud.
CarFax reached a settlement to a nationwide class action lawsuit charging that the reports were not as accurate as CarFax had led consumers to believe. Under the settlement terms, individuals who purchased a CarFax vehicle history report prior to Oct. 27, 2006, are eligible to participate in the settlement. Don’t expect to receive any money, however, as consumers who file claims are eligible for free or discounted CarFax reports, or a 20% discount on a vehicle inspection.
Those interested must file a claim form by May 27. The form is available at www.westcarsettlement.com.
The articles goes on to mention that “If consumers don’t opt out of the settlement in writing by March 13, they lose their right to sue CarFax if they are injured because of defects in a previously damaged car that a CarFax report claimed was clean.”
The best way to protect yourself is by having a certified mechanic or collision expert inspect the vechicle before you buy.
More than 29,000 dealers have CarFax accounts.
[tags]carfax, used cars[/tags]
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