Used car buying and leasing have gained footing in the manufacturing industry. With its advent comes the popularity of a major source of information for this transaction: the Vehicle History Report.

Of course, like anything happening for the first time, questions swarm people’s minds about what on earth is a vehicle history report. To help you keep your peace of mind, here are some answers:

A vehicle history report is your greatest source of information from CarFax about the history of a used car you want to purchase or lease. It includes the car’s insurance and DMV records. It’s where you can see if your car had major accidents, flood damages, or simply if the car is a lemon.

There’s simply a need for you to avail of the vehicle history report to know if your car has no issues regarding title and test passes for safety and emissions. You can also track if the car had accident history, too much mileage or anything that can pass off as evidence for heavy usage, and other valuable information that may have an effect on its functioning later on.

You need the vehicle history report, whether you’re selling or buying the car. In selling, you have to know the vehicle history report of your car to know the marketable price for it, based on usage and its standard market price. Buying, on the other hand, requires you to know possible problems the car may have due to some factors like heavy usage, accident history, and others. CarFax also offers a title guarantee. If in case there are some discrepancies on the car’s report or the title itself, you can ask for a payout.

And hey, the good thing is, all vehicle history reports go back to late eighties. Its database is that huge. If ever you wanna check on a car older than that, try to run the VIN anyhow.