Carfax Questions and Answers PDF
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Uploaded by ConsiderateAmericium
Schoolcraft College
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Summary
This document includes a series of questions and answers about car loan applications and the requirements for a Carfax report. It covers topics such as conditions that prevent loan closure, Carfax report costs, and additional documents needed when emailing.
Full Transcript
What conditions prevent a loan from closing on a used auto loan? A. If the vehicle has been totaled, rebuilt, or salvaged B. If the vehicle\'s Carfax report is more than 30 days old C. If the vehicle has a NADA value under \$5,000 D. If the vehicle has never been driven more than 100,000 miles...
What conditions prevent a loan from closing on a used auto loan? A. If the vehicle has been totaled, rebuilt, or salvaged B. If the vehicle\'s Carfax report is more than 30 days old C. If the vehicle has a NADA value under \$5,000 D. If the vehicle has never been driven more than 100,000 miles ANSWER: A How much is the cost for a Carfax report as required by ACCU? A. \$10.00 B. \$20.00 C. \$15.00 D. \$25.00 ANSWER: B What must be done with the Carfax report if there is an application for the vehicle? A. Provide a verbal summary to the member only B. Scan the report under the loan application C. Store it in a physical folder for six months D. File it away without further action ANSWER: B What is the lifespan of a Carfax report from ACCU? A. 60 days B. 90 days C. 30 days D. 120 days ANSWER: A In addition to the Carfax report, what else must be included when emailing? A. A screenshot of the vehicle B. A customer satisfaction survey C. The NADA value D. A printed invoice ANSWER: C
