Diminished value due to accident...
#1
Diminished value due to accident...
Hi everyone, I'm wondering how you all perceive an RL that has been in a minor accident. Would you consider buying one? How much of a discount would you expect on the price?
Here's the background...BTW this happened about 4 months ago.
I was stopped at a red red light (for over a minute). A large pickup was stopped behind me (for over a minute). Out of nowhere, a minivan rear ended the truck, who in turn rear ended me. The minivan was a complete loss with airbags deployed. The truck had structural damage throughout the frame behind the cab (crumple zones), and bumper cover damage from where he hit me. I was the luckiest with a cracked rear bumper cover and minor damage to the bottom of the trunk lid. No issues with the taillights or rear quarter panels.
I had the car repaired using all OEM parts and paint. It has a new trunk lid, a new bumper cover, and some foam underneath it. No steel behind the bumper cover was damaged and I have pictures from the repair shop to prove it. The paint matches perfectly, and there are absolutely no driving issues, vibrations, pulling, transmission, etc problems. The vehicle got a full check out from the dealer that sold it to me and has since performed all maintenance, so they are relatively familiar with it.
So, now that I'm putting it up for sale (not related to accident, but simply time for something different), how much of a hit should I take on it?
Thanks!
Here's the background...BTW this happened about 4 months ago.
I was stopped at a red red light (for over a minute). A large pickup was stopped behind me (for over a minute). Out of nowhere, a minivan rear ended the truck, who in turn rear ended me. The minivan was a complete loss with airbags deployed. The truck had structural damage throughout the frame behind the cab (crumple zones), and bumper cover damage from where he hit me. I was the luckiest with a cracked rear bumper cover and minor damage to the bottom of the trunk lid. No issues with the taillights or rear quarter panels.
I had the car repaired using all OEM parts and paint. It has a new trunk lid, a new bumper cover, and some foam underneath it. No steel behind the bumper cover was damaged and I have pictures from the repair shop to prove it. The paint matches perfectly, and there are absolutely no driving issues, vibrations, pulling, transmission, etc problems. The vehicle got a full check out from the dealer that sold it to me and has since performed all maintenance, so they are relatively familiar with it.
So, now that I'm putting it up for sale (not related to accident, but simply time for something different), how much of a hit should I take on it?
Thanks!
#4
Senior Moderator
There aren't any critical parts located where the accident occurred, so I imagine the hit would be minimal. What does the Carfax say, and what is KBB?
#5
I had Altima with relatively minor "carfax accident" on the report and dealer counted $1000 less for the trade-in which I was fine with ... I offered all of the paperwork and everything but still they told me that... now it could have been a gimmick to pay me lower price for my car but I did not care (fell deeply in love with my current RL at that time) ... anyhow if the dealer is cutting $1000 - there should be no problem in offering $500 off due to minor stuff as you explained...
Advice: I think you should really hit on marketing and describe in short what happened with the car when you put it up for sale... every item has its buyer - therefore, people that do not care will buy it for sure... have paperwork ready and state in the advertising that you have proof of what was done...
Note: You can try and ask Carfax to add details of the "traffic accident" with the correct amount of cost... I did this and they just asked that I fax over paperwork so they can edit existing content on it... that way carfax will prove your story!!! PS I did this myself so if you have any questions, feel free to ask!
Good luck!
Advice: I think you should really hit on marketing and describe in short what happened with the car when you put it up for sale... every item has its buyer - therefore, people that do not care will buy it for sure... have paperwork ready and state in the advertising that you have proof of what was done...
Note: You can try and ask Carfax to add details of the "traffic accident" with the correct amount of cost... I did this and they just asked that I fax over paperwork so they can edit existing content on it... that way carfax will prove your story!!! PS I did this myself so if you have any questions, feel free to ask!
Good luck!
#6
with a car like an RL you're taking a hit either way, if the buyers don't ask, simply don't tell as there's nothing serious to report and legally unless it's a salvage/total loss you don't have to say a thing.
my advice...don't even mention it unless asked and downplay if so. Good luck with the sale.
my advice...don't even mention it unless asked and downplay if so. Good luck with the sale.
#7
Thanks for the advice guys. Yeah, I tried the diminished value claim but the at-fault insurance company denied it no matter what I argued. The truth is, the repair looks phenomenal and is probably better than before the accident given the new paint on those parts. And yes, the new parts have OEM stickers on them.
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