The 8 Most Important Things You’ll Find on a Vehicle History Report

Are you in the market for a used vehicle? Perhaps you want a reliable second vehicle. Maybe you have a teenager or a new driver in the family. Thompson Sales has a wide selection of used and certified pre-owned vehicles for sale at our lot in southeast Springfield on Independence Street. 

When you select one of our used vehicles, it comes with a CARFAX vehicle history report. You can inspect the report directly on our website before you contact our team to take a test drive. 

Read more with our guide to the six most important pieces of information you’ll see on a CARFAX vehicle history report. If you have any questions, reach out to our team or call (417) 763-6811. We’re happy to help in any way we can!

Vehicle Value Based on Its History

First and foremost, CARFAX showcases what the vehicle’s value could be based on the history alone. It takes into account the service history, the vehicle’s usage, and if there has been any damage. CARFAX also looks at title concerns, open recalls, past accidents, and the number of previous owners.

For example, a vehicle that is maintained properly, has a normal amount of wear-and-tear on the engine based on its usage, and has no damage from accidents will have a higher value. 

CARFAX shows you this very easily. When you peruse our used vehicle inventory, you’ll see colorful banners. These banners indicate the value of these vehicles compared to similar models in the region.

These badges  will say one of three things:

1. Great Value: The price on our lot is generally $1,000 lower than the CARFAX history-based value report. For example, the CARFAX history-based value is $10,000, and our price is $8,800. This badge is dark green.
2. Good Value: The price on our lot is generally $0 to $999 lower than the CARFAX history-based value report. For instance, the CARFAX history-based value is $15,000, and our price is $14,500. This badge is light green.
3. Fair Value: The price on our lot is generally more than the CARFAX history-based value report. For instance, the CARFAX history-based value is $20,000, and our price is $20,100. This badge is light blue.

So, you can easily assess which used vehicles are great deals. Not all vehicles will have these exact standards.

Another badge you’ll see is the 1 Owner badge. 38% of used cars have had one owner. This means the vehicle has had only one owner before it landed for sale on our lot. One-owner cars are more likely to have complete maintenance records. 

A car will have a higher value, in general, if it has had:

• Zero accidents
• All of its oil changes and maintenance
• Just one owner
• No unfixed recalls

Keep these in mind when looking at the top part of the CARFAX vehicle history report.

Vehicle Overview

This is a quick summary of the current status of the vehicle before it goes into more detail. If you’re reading a book, this would be the summary of the plot on the back.

This section includes the model year, make, model name, trim level, vehicle identification number (VIN), body style, and powertrain. You’ll also see the dealer’s name providing the report. 

Then, it summarizes the main history of the vehicle:

• If an accident has been reported and what kind (minor, moderate, severe) of damage it had
• The number of service history records recorded
• Number of previous owners
• Types of owners, including personal owner, personal lease, rental, or commercial
• Last reported odometer reading.

Keep in mind that you’ll only find this information if it has been reported to CARFAX. If you get your vehicle serviced at a dealership or repair shop that has a relationship with CARFAX, chances are good that the repair will appear on the history report. 

The sections after this one dive into more details about various aspects of the vehicle’s history.

Accident & Damage History

If there is an accident or any damage, it will appear toward the top of the report because an accident is one of the biggest ways to drive down the value of a used vehicle. A car’s value can decrease anywhere from 10 to 50% after an accident, depending on the severity of the damage. You can see more details on this using Kelley Blue Book’s detailed formulas.

The accident summary notes the severity and location of the damage. When you look at more details of each accident, it can have more details such as if the car was drivable after the accident and if the vehicle was declared a total loss. Some states have disclosure laws in these cases, and others do not.

• Minor damage may be only cosmetic, and it only damages the outer surface of the car, such as a fender or bumper, without damaging the frame or internal parts. The vehicle’s operation is generally not affected by minor damage.
• Moderate damage means multiple systems have been affected. It may impair the vehicle’s ability to operate, such as it might not be able to turn correctly, the headlights are out, or the trunk won’t open.
• Severe damage likely means the vehicle’s operation and/or safety has been compromised. You might think twice about buying a vehicle that had severe damage at one point in its past.

Additional History

Next is the Additional History section, which shows a summary of important details you need to know for each owner of the vehicle:

• Whether or not a total loss was reported to CARFAX
• Any structural damage
• If the airbags deployed
• If any odometer rollback has been reported
• Any accidents reported
• Any open manufacturer recalls that haven’t been resolved
• If any part of the original manufacturer’s warranty is still attached to the vehicle

So, if there are any other major issues or red flags with the vehicle, you will see them in the Additional History section.

Title History

The Title History section lets you know if there are any issues with salvage, junk, rebuilt, or fire title statuses. It also notes any potential odometer issues.

CARFAX generally guarantees these things in its official report.

Ownership History

Next, you will see some excellent information to help determine how the vehicle was used and how many miles per year it was driven. Miles per year is important because it can tell you how much wear and tear was put on the vehicle. Anywhere from 12,000 to 15,000 miles is the average miles per year. Anything lower than that, the engine is likely in better shape. Anything higher than that, and the engine is likely in worse shape.

The Ownership History highlights:

• Year purchased for each owner
• Type of owner (personal, personal lease, etc.)
• How long did each owner keep the vehicle
• Where the vehicle was owned/bought/sold
• Miles driven per year
• Last reported odometer reading for each owner

Detailed History

If you want more specific information on various milestones, the Detailed History section lists things by date, with the earliest date shown first. For example, one of the first entries usually states that the vehicle was sold to its first owner. Every date entry also includes the mileage.

Other aspects of the Detailed History report include:

• Damage reports (if any)
• Types of vehicle service include oil changes, tire rotations, system inspections, fluid checks and changes, new tires, new brake parts, exhaust system checks, a new battery, new wiper blades, and more.
• Financial information, such as any loans or liens placed on the title

This section also has a link to the vehicle’s regular maintenance schedule.

Warranty Check

This section shows you the original factory warranties that came with the vehicle and whether those warranties are still in place. The goal here is to give you peace of mind with your purchase.

Thompson Sales Is a CARFAX Lifetime Dealer

We are a CARFAX Lifetime Dealer, which means we provide full access to CARFAX products whether you’re buying a vehicle, getting service, or trading in a vehicle. Do you have more questions about what to expect with a CARFAX vehicle history report? Contact us or call (417) 763-6811 to speak to us.