CARFAX Helps Used-Car Buyers Get The Most Accurate Price Based On A Vehicle's Accident History

CENTREVILLE, Va., May 20, 2021 /PRNewswire/ -- Used-car inventory is in short supply and used-car prices are at record highs. As market conditions change daily, CARFAX continues to help used-car shoppers make sure they aren't overpaying for their next car. CARFAX has launched a new national television ad campaign with three different commercials that show how using accident and damage history can ensure accurate vehicle pricing. Accident history is the number one thing used-car shoppers look for in a vehicle's history, and with good reason. CARFAX research suggests consumers overpay for used cars by about $500 on average if they don't know about damage information reported to CARFAX. Tens of thousands of dealers use CARFAX History-Based Value as well to help them determine the most accurate pricing.

"We know vehicle history is critical when determining value," said Joel Bassam, Director of Marketing at Easterns Automotive Group. "The CARFAX History-Based Value tool helps us determine value at a VIN-specific level. It's never been more important to understand a vehicles history than in this unprecedented used car market. A vehicles history is critical to know and be confident in, it's something we consider at every step of the vehicles journey, from auction to the customer driving home. Listing our vehicles on CARFAX.com has been hugely successful for us, and we attribute that to the work we put in to consider a vehicles history before we purchase and recondition it. On CARFAX.com and on our own site, easterns.com, customers can look at both the CARFAX Vehicle History Report and History-Based Value to help them make informed decisions. Transparency is key to providing the customer as much value as possible."

The new ads were made in collaboration with Oscar-winning creative studio Framestore. Each one features CAR FOX showing how two cars that look alike can have very different accident histories. CARFAX can help determine how a vehicle's history impacts its value.  

"CAR FOX continues his mission of helping used-car buyers avoid overpaying," said Tracey Holupka, CARFAX Director of Brand. "Our hope is these ads convey that there's more to a vehicle than meets the eye. Every used car has a history that determines its value. CARFAX has the most accident and damage information, so we're well positioned to help used-car shoppers understand what they should be paying for any specific vehicle."

The spots humorously show used-car shoppers trying to tell the difference between two vehicles that look identical - but have very different values - based on their individual history. The ads, titled 'Car Fox & Twins', 'Car Fox & Dad', and 'Car Fox & Miss Jane,' began airing this month on network and cable TV stations nationwide. 'Car Fox & Twins' is a :15 second ad. 'Car Fox & Dad' and 'Car Fox & Miss Jane' each have a :15 and :30 second version.

Buying a car is the second largest purchase most people make. At CARFAX.com, consumers start their search by requesting vehicles with specific vehicle history. The search results show cars that match their choices based on information reported to CARFAX, along with the CARFAX History-Based Value that helps determine which cars are a "Great-", "Good-" and "Fair Value" compared to the asking price. Every vehicle listed comes with a free CARFAX Vehicle History Report provided by the dealer.

Watch all the versions of the new Carfax ads at:
https://www.youtube.com/user/Carfax/videos

About CARFAX
CARFAX, part of IHS Markit (NYSE: INFO), helps millions of people every day confidently shop, buy, service and sell used cars with innovative solutions powered by CARFAX vehicle history information. The expert in vehicle history since 1984, CARFAX provides exclusive services like CARFAX Used Car Listings, CARFAX Car Care, CARFAX History-Based Value and the flagship CARFAX® Vehicle History Report™ to consumers and the automotive industry. CARFAX owns the world's largest vehicle history database and is nationally recognized as a top workplace by The Washington Post and Glassdoor.com. Shop, Buy, Service, Sell – Show me the CARFAX™. Based in London, IHS Markit is a world leader in critical information, analytics and solutions.

About Framestore
Framestore is an Oscar-winning creative studio that uses innovative talent and technology to create high-end images for every platform. Framestore partners with clients ranging from Hollywood studios through to advertisers, ad agencies, production companies and video game developers. In addition to being recognized for its globally celebrated visual effects, Framestore has more recently made its name as an innovator in the digital space by focusing on the immersive engagement potential of interactive visual effects.

SOURCE CARFAX

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