03-16-2014, 08:53 AM | #1 |
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Accident - Need advice
So was rear ended while sitting at a red light by a lady texting and not paying attention - hit me doing about 10-15. The bumper is done and the trunk lip is dented in. I have the body shop that I trust to do the work and will have it taken care of.
My question to this group is how does this impact the value of the car? I always trade in cars early and now that this will show up on CarFax I know it will impact the value. Any opinions or experience on how this will hurt the value and where I need to start negotiating with the insurance company? Thanks in advance for your help! |
03-16-2014, 09:16 AM | #2 | |
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03-16-2014, 09:28 AM | #3 |
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That damage doesn't look that bad. Definitely not bad enough to cause any diminished value. If you are worried about it, take a lot of pics both before and after so you are able to reassure any potential buyer.
As for Carfax... I had an accident in my E46 M3 back around '05. Some kid made a left turn directly in front of me (traveling from the other direction) and I t boned him. Totally his fault. Final repair bill was north of $23k. It never showed up on Carfax.
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03-16-2014, 09:55 AM | #4 |
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^This^. Relatively minor with no structural damage. Shouldn't radically affect value. It'll be good as new.
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03-16-2014, 10:02 AM | #5 |
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It doesn't look like there's any structural damage underneath. Just that the bumper did its job. If you can get the lady who hit you to pay for the damages with cash you can avoid car insurance contacting Carfax entirely.
Also here's your new T-Shirt.
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03-16-2014, 12:25 PM | #7 | |
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03-17-2014, 02:12 AM | #9 |
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I had exact same scenario first week I owned the car. $6500 in repairs. Looks perfect now. It DID appear on carfax sadly.
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03-17-2014, 02:26 AM | #10 | |
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03-17-2014, 06:33 AM | #11 |
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The body shop that does all the dealer work doesn't typically report the issue but there was a police report completed and the person who hit me was cited. So that should do it right there.
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03-17-2014, 09:02 AM | #12 |
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In my situation, the other driver was sited by the police and found to be at fault.
His insurance company was involved and I know the bodyshop didn't do anything under the table. Yesterday, I went to look at a Porsche for a member on another board who lives in a different state. Carfax says that the convertible top is fully operational. The car is a coupe.
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03-17-2014, 10:30 AM | #13 |
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BTW, you can collect for the depreciated value of the car in addition to the actual losses. Not worth it for inexpensive cars but once you're in the $100,000 range, it is certainly worth it.
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03-17-2014, 11:10 AM | #14 |
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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.
Further if you sell the car privately you should be disclosing material facts like whether or not it has been in an accident. Obviously if you keep the photos and if no VIN body panel has been replaced then the impact on value is minimal. Replacing a bumper is no big deal - people do that all the time because of chips, scratches or because of aero upgrades. However if the trunk is replaced or even straightened and repainted, then this will affect value.
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03-17-2014, 11:37 AM | #15 | |
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it was a pain the ass to get this sorted and the claim to fix it was significantly more, but the body shop did an awesome. it was reported to carfax and his insurance paid for it. i didn't have an issue selling it in a private sale and got better than market value at the time. it also helped that it was low milage and looked like i just drove it off the dealer lot... good luck.
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03-17-2014, 12:25 PM | #16 |
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[QUOTE=GNALUZU;15616428
Yesterday, I went to look at a Porsche for a member on another board who lives in a different state. Carfax says that the convertible top is fully operational. The car is a coupe.[/QUOTE] |
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03-17-2014, 06:20 PM | #17 | ||
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It took me over a year to finalize my DV claim with my accident. Quote:
I didn't sell that M3 privately because I didn't want to deal with the issues of discussing the repairs with every potential buyer. I traded it to a dealership and they were told that it had front end damage. They looked at the car and made me what I considered a fair offer (without any significant inspection). Sure, I could have gotten more on the private market, but it just wasn't enough to make it worth the time to find the buyer.
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03-17-2014, 08:22 PM | #18 |
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I agree. The the above is really insignificant. Simply an FYI.
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03-17-2014, 09:00 PM | #20 |
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03-18-2014, 06:49 PM | #21 | |
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