Opinions please: Diminished value
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Racer
Joined: Nov 2020
Posts: 279
Likes: 104
Opinions please: Diminished value
Say an otherwise pristine 2021 Carrera S Cab with 20000 miles would go for $130,000 (number may be high or low, but they are still scarce). You look at the CarFax and see that it has been recently hit in the rear end, and repaired by a Porsche certified body shop. No frame damage. $10k in parts and labor.
How much would you knock off the purchase price, assuming you would be otherwise willing to pay the $130K for the car?
How much would you knock off the purchase price, assuming you would be otherwise willing to pay the $130K for the car?
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Say an otherwise pristine 2021 Carrera S Cab with 20000 miles would go for $130,000 (number may be high or low, but they are still scarce). You look at the CarFax and see that it has been recently hit in the rear end, and repaired by a Porsche certified body shop. No frame damage. $10k in parts and labor.
How much would you knock off the purchase price, assuming you would be otherwise willing to pay the $130K for the car?
How much would you knock off the purchase price, assuming you would be otherwise willing to pay the $130K for the car?
Pro
Joined: Mar 2010
Posts: 589
Likes: 402
From: Milton, WA
Thats way too low. For that price tag its not a bumper replacement by the body shop. Id expect a 20-25% reduction in value. My previous car was a 997.2 RS and it had slight rear end damage by previous owner. It took me awhile to find a buyer who wasnt scared of what could be with what was just a bumper replacement. Like the other guy said being hit in the rear for a 911 is not good
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With modern electronics behind the bumpers, 10k in damage was like yesterday's 1k in damage.
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Thread Starter
Racer
Joined: Nov 2020
Posts: 279
Likes: 104
Say the only damage is actually to the rear bumper (replaced) and lights. No engine damage. Does CarFax specify such info? Does that make any difference to your willingness to buy, and how much discount?
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Hard to say re: cost. Bumper cover itself is probably around $2500, but if you start getting into bumper support bar and reinforcements, trim panels, heat shields, brackets and rear taillights and the cost of paint, then yes $10k is likely.
For me it’s not necessarily fear of structural damage issues (though that fear is not unwarranted). It’s the headache of selling the car afterwards. Not to mention that I would be paranoid about the circumstances of the accident and repair. It’s too much trouble when there are perfectly good cars out there without a story.
For me it’s not necessarily fear of structural damage issues (though that fear is not unwarranted). It’s the headache of selling the car afterwards. Not to mention that I would be paranoid about the circumstances of the accident and repair. It’s too much trouble when there are perfectly good cars out there without a story.
Pro
Joined: Jun 2007
Posts: 507
Likes: 56
Can you get a copy of the work order from where it was repaired or from the owner? If the bumper shocks were replaced it might give you an indication of how hard it was hit. It doesnt take much to compress them so my theory is likely flawed. If a light was replaced then it seems to me that was a hard hit.
point made in previous post that you dont want to buy/sell a story car.
point made in previous post that you dont want to buy/sell a story car.
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Joined: Oct 2004
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From: Lakewood Ranch, FL
I was just rear ended in my 2014 CRV at 10-15mph and to replace the rear bumper only without light or glass damage was $5,000. So $10,000 on a 911 is not a large claim. Depends on the deal you get. Would have to be a 20%+ discount for me to even consider it on a newer car if you have a PPI done and everything else is fine. Likely not worth the headache for resale in the future.
Drifting
Joined: Jun 2014
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From: some where nice
DV before Covid crazy car market was 10-15 % off retail and trade in After Covid and till recently, because of the rarity of cars , people started looking the other way and price adjustment was minimal
now the market is getting closer to normal , so the adjustment is heading back to before Covid though this is model dependent . On the cars that are still rare I will say adjustment is still minimal
but the cars that are not rare, adjustment is at pre-covid level
911 is still a rare car , so doubt you will get the 15-25 % people are talking about
and by the way 10 k in damage is minimal , but if you can get repair order , then you will have better clarity
also recently car fax started rating damage on a scale , and most dealers don't pay much attention to minor damage , but will ding price for moderate or above damage
now the market is getting closer to normal , so the adjustment is heading back to before Covid though this is model dependent . On the cars that are still rare I will say adjustment is still minimal
but the cars that are not rare, adjustment is at pre-covid level
911 is still a rare car , so doubt you will get the 15-25 % people are talking about
and by the way 10 k in damage is minimal , but if you can get repair order , then you will have better clarity
also recently car fax started rating damage on a scale , and most dealers don't pay much attention to minor damage , but will ding price for moderate or above damage
Last edited by pitt911; Apr 19, 2023 at 01:12 PM.
Instructor
Joined: Apr 2013
Posts: 104
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From: Fort Pierce, FL
The diminished value due to the repair history would be 10%-15% of the pre-market trade-in value.
Should you be involved in another accident that is the fault of someone else and causes severe damage to your car, filing a diminished value claim on a previously wrecked car will result in an immediate denial. You'll likely need to litigate. Most people don't recognize this secondary concern. Structural damage on a $100,000 car can result in a loss of about $40,000 in value - which you will have to fight for.
Should you be involved in another accident that is the fault of someone else and causes severe damage to your car, filing a diminished value claim on a previously wrecked car will result in an immediate denial. You'll likely need to litigate. Most people don't recognize this secondary concern. Structural damage on a $100,000 car can result in a loss of about $40,000 in value - which you will have to fight for.
Last edited by DIMINISHEDVALUE; Apr 19, 2023 at 03:12 PM.