Devaluation due to accident
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Instructor
Joined: Jan 2009
Posts: 225
Likes: 3
From: Cape Girardeau, MO
Devaluation due to accident
I was looking at a 2009 Cayman S - Launch vehicle - PDK, Sport Chrono, Full Leather, 28,000 miles. It has a few blemishes - significant drivers bolster wear from entry/exit, a scrape on the passenger side behind the door, a scrape on the driver's mirror and a scrape on the rear bumper over rider. According to the owner, all of these will buff out and are not dents but IDK. The big thing is he was creeping into an 4 way stop intersection with a large SUV to his left and a car coming from that direction hit him in the front left. It was low speed because the other car was just leaving the stop sign. This was over 3 years ago. Receipt was for just over $5000. Repaired by John Espozito in LA. Replaced front bumper cover and impact bar, inner and outer grills, left headlamp assy, left fender and some paint work on the drivers door. How would you account for this in pricing? Is it enough of a knock that the car isn't one you'd even consider? Asking was $34,500 but he reached out to me and wants to talk about a lower price. I've pretty much decided on another car, but curious about thoughts on how this kind of accident effects value. Also, he just took it in to the dealership and had an inspection done that gave it an all clear.
Rennlist Member
Joined: May 2008
Posts: 1,517
Likes: 323
From: Tennessee
I'd guess it would devalue the car $3k-$4k, but the bigger factor is a smaller pool of buyers when you go to sell since many won't touch a car with accidents reported, particularly Porsches.
Racer
Joined: Jun 2011
Posts: 256
Likes: 65
From: The Netherlands
Yet zo many porsche have an accident history...
if the repair bill of the damage is specified to the nut and bolt, and it shows no damage to the sturcture of the car or the wheel assembly, and the car alligns properly and it passes a inependent ppi I would consider buying at the right discount.
if however one of the above flaws I would walk.
a well documented car with detailed history will convince any buyer as an honest car.
Other damaged cars usually have no detailed report of the repairwork done so that is a big plus on this one.
if the repair bill of the damage is specified to the nut and bolt, and it shows no damage to the sturcture of the car or the wheel assembly, and the car alligns properly and it passes a inependent ppi I would consider buying at the right discount.
if however one of the above flaws I would walk.
a well documented car with detailed history will convince any buyer as an honest car.
Other damaged cars usually have no detailed report of the repairwork done so that is a big plus on this one.
Advanced
Joined: Jan 2015
Posts: 93
Likes: 1
From: Georgia
I have bought several Porsches from insurance clearance auctions. I have a 2011 BS now that was "flood" vehicle. The flood was owner failure to clean the drip pans and the rear control module got wet, broke the plastic ball sockets off the top linkages. Repair parts were about $400. Resetting dead battery induced faults and now it's running great. Only the radio is not putting out sound. I've seen 911s with just cracked bumper covers but apparently "totaled". One CS I have was the owner blew up the engine in D.E. State Farm insurance sticker says "collision" on it, but barely a scratch on the entire body. Insurance Fraud? Wish I could have had my worn out 1966 GTO totaled when the engine was blowing all the oil out the valve cover when I had owned it about 2 months. My appraisal is in the driving and appearance. NO FEAR!
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Joined: Jul 2004
Posts: 16,015
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From: Temecula, CA
I think much of the purchase decision comes down to intended purpose of the car for the buyer. If the car is going to be taken to the track and or daily driven in inclement weather then a minor accident won’t really matter as long at there’s no frame damage. But I also agree that the price should reflect the accident history and the amount should depend on the level of damage and the quality of the repair.
