Tips to Avoid Scams in a Buyer's Market

    FAIRFAX, Va.--(BUSINESS WIRE FEATURES)--Feb. 11, 2002--CARFAX(R), an industry leader and creator of the vehicle history report, warns consumers that a recent glut in the used car market means a greater opportunity for scam artists to take advantage of unassuming, unsuspecting buyers and offers tips on how to avoid their scams.
    Following the events of September 11th and fueled by concern over a shaky economy, automobile manufacturers successfully pumped up sales with zero-interest incentive offers for new car buyers resulting in record-breaking sales months.
    While good for the ailing U.S. economy, the result of this boom is a glut of used--pre-owned and leased--vehicles on lots across the country. CARFAX warns bargain hunters that while deals seem good, some may be too good to be true.
    "No one wants to buy someone else's problems," says consumer advocate and vice president of CARFAX, Scott Fredericks. "CARFAX reports, with their $5,000 clean title guarantees, protect dealers and consumers alike from problem cars and questionable people looking to cash in."
    One of the most common scams used car buyers face is odometer fraud. Recent studies estimate that up to 50% of used cars may have had their odometers rolled back. Industry experts put the cost of odometer fraud at 10-cents per rolled back mile with an average rollback (per vehicle) around 32,000 miles. This means odometer fraud may cost car buyers up to $10-million a year, according to the National Highway Traffic Safety Administration.
    "Now the old scam of rolling back odometers has gone high-tech," says Fredericks. "Almost as soon as odometers joined the digital age, scammers were finding ways to alter them," he continues. For this reason, CARFAX offers bargain hunters the following advice to avoid becoming a victim of odometer fraud:

--	Do the math. Industry standard say the average vehicle accumulates about 12,000 miles per year. If the mileage seems excessively high or low in comparison - find out why.
--	Ask to see maintenance records. Compare them with the mileage on the odometer itself.
--	Examine the vehicle for telltale signs. Note whether wear on the vehicle's pedals, tires and seats are consistent with the miles displayed on the odometer.
--	View CARFAX report - either ask the seller to see one or purchase one online using the car's 17-character vehicle identification number. CARFAX tracks the vehicle's mileage history through title changes, registrations and vehicle inspections; the report then flags potential rollbacks.

    "Car buyers shouldn't gamble on whether or not an odometer has been clocked," says Fredericks. "A little investigation now can save them money and headaches down the road."
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