MT. ARLINGTON, NJ - The International Automotive Remarketers Alliance (IARA) announced the results of its recent Vehicle History Reports (VHR) survey conducted by the IARA Standards Committee.

"The survey results are in and have been analyzed. The Committee was able to determine a great deal of helpful information from the 83 respondents," according to Matt Marks, executive director for the IARA. "The IARA Standards Committee is especially pleased about the participation from representatives of companies across the industry.  Input from companies like those who are members of the IARA, both consignors and auction companies, and many other notable companies make these responses that much more valuable. The time and thoughtfulness that went into these responses is appreciated."

The IARA VHR survey focused on two main topics: improving the data correction process, and standardizing the wording on the VHR's.  Listed below are the conclusions that were drawn from these responses:

Improving the data correction process

1) A reasonable time to correct an error is 24 hours.

• Over 69 percent of the respondents believe it should be 24 hours or less.

2) State and auction information should take precedence over a third party report.

• Third party mileage information should be removed when proven incorrect.

3) State errors are hard to correct and should be handled as a separate issue.

Standardizing the wording on vehicle history reports

4) Inconsistent odometer readings should use the wording “data discrepancy in mileage,” according to 62 percent of the respondents.

• If the error is verified, the record should be cleared.

5) Stolen/Recovered disclosures should only be disclosed if verified from a reliable source.

• If the error is verified, the record should be cleared.

6) Accident reporting should include severity indicators and airbag deployment from a reliable source.

7) Accident information based on a police report should be amended or deleted upon third party verification.

For more information about the report or the Alliance, visit www.iaraonline.org.