A study done by CarGurus shows that almost 16% of used cars for sale have at least one accident on record.
According to the study 22% of used car listings were former fleet vehicles, which means they are more than twice as likely to have an accident on record then cars owned by individuals. That is why CarGurus advise used car buyers to attentively check the car’s history and see if it worth the price.
CarGurus checked the history of 2 million used cars to be sold by dealers or private sellers, and it discovered that 8% of the 2009-2011 models had an accident on record, with 35% of them being formerly fleet vehicles. A past accident on the car’s record can make its price drop between 3% and 12%.
“There is great savings potential in buying a used car, but there’s also the potential to get burned if you don’t do your homework,” said Langley Steinert, founder and CEO of CarGurus in a press release. “A minor accident or prior fleet ownership does not have to be a deal breaker, but it is information you absolutely need to know as you consider the purchase and the price.”