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I had a buddy buy a car, clean carfax, and then 6 months later it updated with some accident/repair from the past. Carfax was completely unwilling to honor any of their supposed guarantees or confirm authenticity of the revision. My friend just got stuck paying full market value for a car with no crash history and then magically one day it has crash history in the report. I have zero faith in that system.
Similar to my experience. I purchased a low miles used Macan Turbo from a Porsche dealer. It had a clean Carfax at the time of the sale. 1 1/2 years later I traded it in on a used Mercedes AMG C63 S at the same Porsche dealership. Dealership told me the Macan's Carfax showed moderate collision damage from an accident before I purchased it and my trade in value needed to be adjusted.
Really sorry for you on this. Glad you are OK though - I drive up and down I-70 all the time between Denver and Vail and there are six or seven spots where something like this is very statistically likely to happen. I think about it all the time.
I'll weigh in optimistically about the repair. Your insurance will cover it and the repair work will be done immaculately. Chances are your front end was not in perfect shape anyway from normal road wear, and after this it will be as good as new.
This is considered frame damage by insurnace and you can get your car totalled. At the car auction this repair will lead to a frame damage disclosure on a repaired car. Resale value is greatly deminished.
Porsches with less damage than this get totalled and you can find them at insurance auctions.
As the owner, all you need to say to your insurance are the magic words: Frame damage. They will totall the car and you'll have money left over after you buy another one. Insurance always overpays.
This is considered frame damage by insurnace and you can get your car totalled. At the car auction this repair will lead to a frame damage disclosure on a repaired car. Resale value is greatly deminished.
Porsches with less damage than this get totalled and you can find them at insurance auctions.
As the owner, all you need to say to your insurance are the magic words: Frame damage. They will totall the car and you'll have money left over after you buy another one. Insurance always overpays.
Owners have no influence over how the insurance company treats claims.
This is considered frame damage by insurnace and you can get your car totalled. At the car auction this repair will lead to a frame damage disclosure on a repaired car. Resale value is greatly deminished.
Porsches with less damage than this get totalled and you can find them at insurance auctions.
As the owner, all you need to say to your insurance are the magic words: Frame damage. They will totall the car and you'll have money left over after you buy another one. Insurance always overpays.
Originally Posted by WJGreer
Owners have no influence over how the insurance company treats claims.
To WJ's point, I have no influence on this case. They have predetermined values they set that dictate whether something is considered a total loss dependent on repair value vs. market value. As far as "frame" damage goes, I was under the impression that the 911 was considered unibody It is unibody which, is still considered a type of frame. With that being said, the tub has no effect on the overall integrity of the vehicle, it's a housing for the frunk. Now, if the bolts that lock the tub into the unibody were damaged and the entire tub needed to be replaced, then that would be a concern; not the case here. As far as resale goes, take a look online at other GT3s with accidents reported. I've seen some in the $160's still. I'd say that's pretty good for "diminished". Guess we'll have to wait and see.
Im not sure what happened in your court case but i was their director of data aquisition for the southeast.
Carfax claims 14k sources of data and that may be close to true. They buy your data from every state, oil change places and other sources. They may even buy your data from lexus nexis but thats the most expensive route. The more unique the data the more we would pay.
Originally Posted by HardRider
99.99999% of carfax records are from police reports. I took Carfax to court, I am very familiar with their business practice. Why would anyone volunteer information to carfax? Carfax doesn't pay anyone for any information, they rely on incorrect, not admissible in court police reports. The damage will be covered by his insurance the diminished value loss will not as he was the "at fault driver". This is a collision not comprehensive. Comprehensive would be stolen tires,........
By the way on a 2020 Ford F150 with zero damage and no proof of accident the carfax report indicating "accident" diminished the value from $52K to $45K (Before and after carvanna offers) as soon as Judge helped carfax understand and the carfax report was corrected value shot back to $54K. The majority of people will not buy a car that shows accident, you won't have the chance to convince them it minor.
Im not sure what happened in your court case but i was their director of data aquisition for the southeast.
Carfax claims 14k sources of data and that may be close to true. They buy your data from every state, oil change places and other sources. They may even buy your data from lexus nexis but thats the most expensive route. The more unique the data the more we would pay.
Makes sense, thanks for chiming in. This thread so far is a parade of people talking out of their asses.
Makes sense, thanks for chiming in. This thread so far is a parade of people talking out of their asses.
Yeah the hyperfixation on this CARFAX topic really needs to just die out. Never was really a concern of mine. Car will be perfectly fine and anyone who buys it in the future will know the history. There’s not really much more to it.
Im not sure what happened in your court case but i was their director of data aquisition for the southeast.
Carfax claims 14k sources of data and that may be close to true. They buy your data from every state, oil change places and other sources. They may even buy your data from lexus nexis but thats the most expensive route. The more unique the data the more we would pay.
So selling data to Carfax is just an additional revenue stream for workshops?
Would it be plausible to take your car in for a service with the contingency they will NOT report it to Carfax?
So selling data to Carfax is just an additional revenue stream for workshops?
Would it be plausible to take your car in for a service with the contingency they will NOT report it to Carfax?
plausible? yeah, I'm sure some podunk shop that doesn't report to begin with will do it on that contingency, but not before they make you feel real important like they're doing you a huge favor, perhaps for a small fee
They would be willing to work something out. Most of the relationships are done through their POS systems which will give automatic exports of the data for every invoice. Their largest revenue stream is car dealerships. They spend the most with states.
Originally Posted by mtuomi
So selling data to Carfax is just an additional revenue stream for workshops?
Would it be plausible to take your car in for a service with the contingency they will NOT report it to Carfax?
Just got my estimate in from Geico. They'll be covering the entirety of the repair, thankfully, and I'm sure this estimate will fluctuate once rates are adjusted and any supplemental parts are added from the repair center. Funny enough, the "tub" panels and labor were cheaper than most, if not all, the items listed. Thankfully it only looks to be the flooring and will be fairly quick and easy to repair. The real shocker is the price of a new bumper.... The saga continues but, at least we have a number!
Oh, and they provided a supplemental post-incident vehicle value based on market research. Figured I'd share that too.
The $89 dollars for suspension alignment is indicative of the accuracy of the estimate. Last I checked Porsche wanted $300, Local Indy shop $200. Most $89 alignments include only front toe adjustment. Porsche 911 has 4 wheel toe and camber. To even adjust the front toe is a special wrench unless you want to remove the brake ducting and turn your arm into a pretzel.
The $89 dollars for suspension alignment is indicative of the accuracy of the estimate. Last I checked Porsche wanted $300, Local Indy shop $200. Most $89 alignments include only front toe adjustment. Porsche 911 has 4 wheel toe and camber. To even adjust the front toe is a special wrench unless you want to remove the brake ducting and turn your arm into a pretzel.
Without a doubt, both parties agreed the number would go up. That's between the adjuster and the shop though. Just happy it wasn't worse than originally reported. Small wins is all I'm looking for
05-17-2023 | 11:27 AM
