CARFAX-DIMINISHED-VALUE-CALCULATORCARFAX-DIMINISHED-VALUE

CARFAX AND DIMINISHED VALUE CLAIMS

Carfax reports have no bearing on DV claims as their price calculator is known to be inaccurate and would be inadmissible in court for the following reasons:

  • No one at Carfax examined the damage estimate nor was aware of the extent of the repair
  • The Carfax document is not a vehicle appraisal as it did not indicate the vehicle’s cash value
  • The Carfax price calculator combines several factors including mileage, number of owners and maintenance records, these items are not directly related to the accident or the claim
  • The Carfax appraisal was a mass appraisal and therefore not USPAP compliant
  • The Carfax appraisal did not have a person’s signature (appraisals need signatures)
  • The Carfax appraisal did not cite an appraisal method or any valuation data
  • Carfax will not appear in court as an expert witness to defend its report
  • In its patent application for the valuation calculator Carfax concedes that an actual appraisal would supersede their calculator
  • In their patent application for the valuation calculator Carfax concedes that they are not aware of the actual damages as insurance claim data is never recorded by Carfax
  • The Carfax report does not meet the Daubert Standard as codified in Georgia, O.C.G.A. Section 24-9-67.1