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Carfax Introduces Clean Title History Guarantee

24 August 1998

When We Say It's Clean, It's Clean; Carfax Introduces Clean Title History Guarantee Worth Up To $1,000

    FAIRFAX, Va., Aug. 24 -- Used car buyers can now rest a
little easier.  Carfax Vehicle History Service, the country's leading provider
of vehicle history reports, announces a major product redesign to improve its
already popular Carfax report.  Over the next three months more than 12
million used cars will be sold.  Unfortunately, one out of ten of these cars,
that's nearly 1.2 million, has some hidden problem in its past, including
salvage history, flood damage and odometer rollbacks.  While Carfax has proven
its effectiveness in ferreting out these potential problem cars, what about
the millions of used cars without problems?  Starting today, Carfax will be
offering a Clean Title History Guarantee worth 10% of the value of a
consumer's vehicle up to $1,000.
    "No other company can offer consumers this level of assurance when buying
used vehicles," said Dick Raines, president of Carfax.  "Recently the National
Highway Traffic and Safety Administration announced that odometer fraud alone
costs consumers nearly $4 billion a year.  If you add to this the cost of
unknowingly buying a lemon vehicle, or the danger of buying poorly repaired
salvage vehicles, the cost to consumers is incalculable.  With over 750
million records from all 50 states, Carfax is the leader in protecting the
investment and safeguarding the lives of used car purchasers."
    The Clean Title History Guarantee is offered at no additional cost to
consumers who purchase and receive Carfax reports that confirm a clean title
history.  Reports can be obtained on the Internet at http://www.Carfax.com for $19.50
or by phone at 1-888-4-CARFAX (1-888-422-7329) for $29.50.  Carfax can provide
a computerized vehicle history report on virtually every registered used car
and truck by using the 17-character vehicle identification number (VIN).  The
Carfax database contains records with information collected from state
departments of motor vehicle, emissions inspection stations, and auto
auctions.
    The Clean Title History Guarantee is just one part of a major overhaul to
the Carfax Internet site.  Based on feedback from consumers, Carfax has
upgraded to improve processing times for reports, to expand capacity to avoid
slowdowns associated with increasing demand, and to make the entire site more
consumer friendly.
    Founded in 1984, Carfax pioneered the concept of a used car history
report. Starting with 10,000 vehicle records, consumers running Carfax reports
today have access to over 750 million vehicle records.  Nationwide, consumers
and businesses - car dealers, auto auctions and financial institutions - use
Carfax Vehicle History Reports to make sure they know as much as possible
about the history of a used car before they buy, sell or finance.  Carfax
reports can indicate if a used car has been totaled, in a flood, classified as
a "lemon" or had its odometer rolled back.  Carfax reports are available from
participating used car dealers.  Consumers can also purchase Carfax reports,
and obtain the Clean Title History Guarantee, directly from the company at
http://www.Carfax.com or by calling 1-888-4-CARFAX (1-888-422-7329).