A couple yrs ago I bought an '03 X5. I ran it’s VIN thru a CarFax competitor called AutoCheck and it’s history was clean. I’ve had the X5 for sale for a couple weeks now. Yesterday I learned that the X5 had rec’d minor damage 4 months before I bought it. So there I was having bought a car with a good history yet was selling a car with damage on it’s record. It sold last night for less then I’d hoped, unsurprisingly.
I checked out the guarentee’s at both AutoCheck and CarFax and there’s a dozen ways for them to wiggle out of responsibility. And it’s not like they can tell the DMV to move papers faster.
Ways to cover yourself:
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You have to “register” your purchase with the Internet VIN outfit to be eligable for any coverage. Also, apparently when you run a VIN thru various services there are often additional guarentees that you can buy to protect yourself from surprises. So if you have decided to buy that '74 Pinto, you might look at whether or not you can throw another $20 at the company and buy some history change protection.
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Write into the sales contract something to the affect of “if damage shows up on the history, you buy the car back from me at the same price”. Then you can either go thru with that or use that as a negotiating lever to have them pay you a couple grand or something.