Total Loss - An insurance company declares a vehicle a total loss when paying a claim for the full value of the vehicle. Insurance companies typically take possession and obtain the title of such vehicles. Just ask the seller to give you the VIN number and enter that into the computer. Date Vehicle Damage Reported - Refers to the date when the transaction occurred. Fleet Management Company - Fleet Management Companies provide the management of financing, insurance, maintenance and repair of fleet vehicles owned by other businesses.
Fleet companies are typically self-insured.
Vehicles that have sustained varying degrees of damage have been reported to Carfax , however not all fleet management companies report information to Carfax . Vehicle Lien - A lien is an ownership right to a piece of property. When a financial institution loans money to someone purchasing a vehicle , the financial institution has a lien on the vehicle. Other types of liens include mechanics' liens and child support liens. Use the terms and definitions below to help explain a CarFax report .