Accident - Need advice

stealth.pilot · 03-18-2014, 07:05 PM

Quote:

Originally Posted by doug_999

Quote:

Originally Posted by stealth.pilot

Whether the accident goes on Carfax or not is irrelevant. Any dealer evaluating a trade-in will determine based on physical inspection if the car has been in an accident, as will any discerning private buyer. They will have somebody inspect the car with access to a lift and look for clamp marks, assess paint depth variations, etc.

I disagree. If it shows up on Carfax he is toast. Had a friend that sustained $1K in door damage on his car when a lady misjudged her parking ability. She pulled out and parked in a new spot - but the cameras caught her. The door is perfect - you can not tell anything is up with it. Still, each and every dealer said the CarFax was either a dealbreaker (they would not even look at it) or took 10-20% off the trade due to the Carfax. Ultimately, having one of those on your VIN is the kiss of death these days.

Agree that carfax is a problem. I'm just saying that it's a problem even if it isn't on carfax.

DukeCapitalM3 · 03-18-2014, 08:39 PM

I would assume this will go to Carfax and that of itself will cause some dollar losses at trade-in.

You should look in to filing a diminished value claim against their insurance. You just need to get an expert opinion regarding the potential dollar value loss even after the car is fixed. This will probably not be very high in your case but worth pursuing. Expert estimates and letters can cost ~$500 in my experience, but can be worth their weight in gold. Their insurance may come back and ask for an authorized dealer letter that states you would indeed lose money in such a trade-in because of the wreck. This can be tough to get, but if you know anyone with a dealer license that is willing to vouch for this you are good. BMW dealerships don't want to risk getting called into court so they usually will not write a letter stating the dollar loss, even though they will hit you when you trade in.

Best of luck, good thing is your car is fine. My brand new ///M was destroyed 2 weeks after I took delivery and it took 2 years to get everything settled. I did get 12 grand of diminished value from the drunks insurance co. though.

doug_999 · 03-18-2014, 10:31 PM

Quote:

Originally Posted by stealth.pilot

Agree that carfax is a problem. I'm just saying that it's a problem even if it isn't on carfax.

Totally agree - and you are correct ,that problem (a real one) can be just as bad if not worse than a Carfax!

03-18-2014, 08:39 PM	#24
DukeCapitalM3 Private 1 Rep 83 Posts Drives: E93 Join Date: Mar 2014 Location: NOLA iTrader: (0)	I would assume this will go to Carfax and that of itself will cause some dollar losses at trade-in. You should look in to filing a diminished value claim against their insurance. You just need to get an expert opinion regarding the potential dollar value loss even after the car is fixed. This will probably not be very high in your case but worth pursuing. Expert estimates and letters can cost ~$500 in my experience, but can be worth their weight in gold. Their insurance may come back and ask for an authorized dealer letter that states you would indeed lose money in such a trade-in because of the wreck. This can be tough to get, but if you know anyone with a dealer license that is willing to vouch for this you are good. BMW dealerships don't want to risk getting called into court so they usually will not write a letter stating the dollar loss, even though they will hit you when you trade in. Best of luck, good thing is your car is fine. My brand new ///M was destroyed 2 weeks after I took delivery and it took 2 years to get everything settled. I did get 12 grand of diminished value from the drunks insurance co. though.
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