I bought a 1984 Eldorado convertible a few years from a dealer friend. They don't use Carfax and i bought the car based on my examination of the car.
I am convinced based on the total condition of the car that the odometer reading of 34,000 miles is accurate. I tried to sell the car and we agreed on a price of $12,500. Buyer ran a Carfax and it showed that the car had 105,000 miles years ago. It also reported that the car was green in color at that time.
The car still has the factory blue color on it, and there is no way that the car has 139,000 miles on it. It is too good of an unrestored shape. That sale fell through and I'm not accepting a price of $5,500 for the car. I have no recourse against Carfax.
I've talked to other car collectors and have heard plenty of similar stories. I'm sure that someone in the past saw 05000 on the 5 digit odometer and just assumed that it had turned over. This is a nice collector car that has been driven very little.
Carfax is bad news.
Monetary Loss: $7000.