I would have to say that it is worth the money BUT you really need to understand the limitations of CARFAX so you don’t get burned. CARFAX operates like any other database: garbage in, garbage out. It is only as good as its source of information. If you look at a CARFAX and it does not show an accident that does not mean that the car was not in an accident. It only means that the CARFAX database does not show an accident.
CARFAX does not have access to CLUE (Comprehensive Loss Underwriting Exchange), which is a huge database maintained by the insurance companies of all claims paid on autos – both property damage and bodily injury.
CARFAX is good to see what states in which the car has been titled and how many times the car has been sold. These are RED FLAG items that can help you spot possible title or damage issues. If the car has been sold many times or at auction you need to be very careful in buying the car.
If you are worried about whether the car has been in an accident just hire a mechanic to inspect the car for you. This is the best type of information.