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NEED HELP - Diminished Value

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Old 01-11-2016, 08:01 AM
  #31  
Michael_s
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Originally Posted by alpha motoring
I have a paint meter sitting right in front of me that will read aluminum. Higher end ones will read multiple materials.
Mines does as well.... reads everything but painted plastic surfaces.
Old 01-11-2016, 08:12 AM
  #32  
PatrickC23
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Is there a difference in respraying a plastic bumper versus a metal panel like a hood or fender?

I feel like many people respray bumpers, especially those that choose not to use clear bra at some point. Seems ridiculous you would get a 10% hit for doing something like that.
Old 01-11-2016, 10:49 AM
  #33  
Michael_s
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Originally Posted by PatrickC23
Is there a difference in respraying a plastic bumper versus a metal panel like a hood or fender?

I feel like many people respray bumpers, especially those that choose not to use clear bra at some point. Seems ridiculous you would get a 10% hit for doing something like that.
In my experience, various dealers have no issue with bumpers that are painted assuming the work is good. Resprayed panel (one) with a clean carfax they typically ask questions but don't hit it too much... dirty carfax, look out... it's all about resale and making money. Again, this is just my experience, but as long as the carfax is clean and the car is in decent shape, including not having multiple panels painted, you should be okay.
Old 01-11-2016, 03:06 PM
  #34  
alpha motoring
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Originally Posted by PatrickC23
Is there a difference in respraying a plastic bumper versus a metal panel like a hood or fender?

I feel like many people respray bumpers, especially those that choose not to use clear bra at some point. Seems ridiculous you would get a 10% hit for doing something like that.
Bumpers are common repaint items. Rock chips, dings, it happens more common without clear bra.

A lot of dealers repaint bumpers on used cars or CPO cars as well.

Metal panels are a different story. Cars with multiple repaint panels will and cannot be CPO'ed. Was it repainted due to a chip, scratch or accident? How well was it done?

Obviously no paintwork cars are top dollar, if it's a good repaint, then it's up to the buyer but dealer will still ding you to cover their overhead.

Accident on carfax or autocheck will deduct significantly at a dealer. Buyers get scared off. Usually you're better of selling privately so you can explain the extent of the damage and provide invoices if applicable.

Watch out though, sometimes accident appear only on carfax or autocheck and not both. Best bet is to invest in a paint meter. Can't tell you how many cars I've seen with paintwork not on either vin checks.
Old 01-11-2016, 03:08 PM
  #35  
alpha motoring
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Originally Posted by Michael_s
No, didn't miss that at all. I got it 100%... I'm just having a hard to understanding why then this originally happened and you received an estimate to fix it, the decision wasn't made to pay it yourself and avoid a "bad" carfax which in turn saves 10% reduction in loss of value and the time you are going to spend on a DV claim.... at the same time seeing what you can get from the person to avoid them putting a claim in. If they refuse and only want to go insurance, then you just pay and they get off easy.

Don't understand pursuing 1500 in damages... but it's your car do what you want. I would have paid cash and moved on with a "clean carfax"...
I don't get this either. $1,500 in damage is light for a Porsche.

Once you have an accident reported on your cars record buyers will automatically assume $15,000 in damages. You're better off paying out of pocket and saving invoices and disclosing the minor damage to buyers.

You'll spend more time and aggregation trying to get DV and then the headache of selling down the road.
Old 01-11-2016, 04:01 PM
  #36  
gbree
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Go to the other driver and ask to settle it without going to his insurance. You can get money (probably not $1500) and it won't increase their insurance. Win win

Unless you're at fault.
Old 01-11-2016, 04:10 PM
  #37  
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[QUOTE=alpha motoring;12917791].........................sometimes accident appear only on carfax or autocheck and not both. .........QUOTE]

Same company now.
Old 01-11-2016, 04:33 PM
  #38  
MJBird993
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Best of luck. Getting a diminished value claim paid will be difficult on such a minor accident. Take lots of pictures, get a statement from the paint shop, etc. to document the extent of the damage.
Old 01-12-2016, 01:14 PM
  #39  
MerlinsGarage
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A couple of observations.................

* While insurance companies don't (want) to recognize the fiscal impact of DV some in fact aggravate the predicament by mandating the use of parts that are salvaged, sourced overseas or the existing parts refurbished.
I believe this practice alone contributes to the negative perception that repaired vehicles are not returned to their OEM pre-accident condition.

* Insurance companies save too many vehicles from "Salvage" branding just to save a few dollars in net-out money. This is clearly evident when the repair "estimate" is at 70ish percent of the total vehicle value and the final bill is over 80%+ TVV.

Anyway you do get a...... "Parts and labor has a lifetime guarantee"........hehehe.


Bret.
Old 01-12-2016, 01:33 PM
  #40  
CDH911C2S
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Default get the $

I realize it may seem excessive to some people that a $1,000 repair could cost a carrier 10-12K...don't feel to bad about demanding the money---


Your car will be worth much less at resale--that is a fact. If it was leased, maybe you could make sense of not requesting the additional money.

Many buyers and dealers will not purchase a car with any carfax accident reference....As a buyer of a new to you used car---pick a 911 with an accident or without an accident history?

One point---This car could represent a great buy opportunity for a buyer that knows the type of accident (minor)---great way to save 10-12K for a car that will drive the same....

Cheers
Old 01-12-2016, 01:45 PM
  #41  
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Originally Posted by YYZ
Yeah, you missed the part where the $1500 in repair takes 10% off of my market value for the sake of a "VIN report".
He didn't miss it and like a lot of others on this thread he gave you the good advice to pay the relatively small repair bill to avoid the DV. It's good advice. If you have the car, I assume you have the money. Claiming small repairs on insurance only leads to higher insurance costs for you. Insurance companies are in the business to make a profit. Save your claims for those times when you really need them like when you have $50K in medical expenses.
Old 01-12-2016, 03:17 PM
  #42  
alpha motoring
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Originally Posted by CDH911C2S
I realize it may seem excessive to some people that a $1,000 repair could cost a carrier 10-12K...don't feel to bad about demanding the money---


Your car will be worth much less at resale--that is a fact. If it was leased, maybe you could make sense of not requesting the additional money.

Many buyers and dealers will not purchase a car with any carfax accident reference....As a buyer of a new to you used car---pick a 911 with an accident or without an accident history?

One point---This car could represent a great buy opportunity for a buyer that knows the type of accident (minor)---great way to save 10-12K for a car that will drive the same....

Cheers
I personally don't think an insurance company will pay out even close to $10-$12k DV on a $1,500 claim.
Old 01-12-2016, 04:21 PM
  #43  
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Originally Posted by alpha motoring
I personally don't think an insurance company will pay out even close to $10-$12k DV on a $1,500 claim.
You may be right. But if you can prove the fact that your car is now worth 10K less because of an accident report etc, or 10K less on a trade, it's worth it to try. Just saying!

Unless the deer that ran into your car didn't carry insurance and he claims it was your fault lol
Old 01-12-2016, 04:27 PM
  #44  
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......not willingly.
Old 01-12-2016, 05:49 PM
  #45  
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I agree with everyone that said pay cash and forget the insurance claim.

My 991 was parked on the street and someone hit and run, caused a huge dent and paint damage in the hood and front bumper. So I paid cash to have a local shop fix it, then traded to a dealer for a new car. They never noticed or questioned it and ended up having the car CPO'd...

Also never buy a CPO'd car!


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