Rear ended by a pickup
05-13-2012, 11:41 PM
#46
Nordschleife Master
Thread Starter
Update. Got the car back yesterday. Impossible to see the difference before the wreck and after the repair. Amazing work. I paid the most reputable auto appraiser in the area $175 for his assessment and he agrees. He has 30 years in the business, much of it in a body shop dealing mostly with high end stuff. His assessment is in writing in the form of a letter addressing diminished value which I can use in dealing with the insurance company.
I'm pretty disappointed in the low amount he came up with. Looks like there's an established formula being used which relies heavily on the cost of the repair and less on the perception that a car with collision damage history suffers from. To many buyers and certainly to all dealerships, if the Carfax isn't clean, it's a big hit, no matter how slight the damage. This repair came to just over $4,000 which really isn't much for a rear end hit. Seems like I would have been better off with a much harder hit and a larger repair bill. The repair would have been equally good and the collision history would have looked the same to most observers but the diminished value compensation would have increased in direct proportion to the repair bill.
I'm tempted to try a different route on this before submitting the appraiser's letter. Comments and opinions are appreciated.
I'm pretty disappointed in the low amount he came up with. Looks like there's an established formula being used which relies heavily on the cost of the repair and less on the perception that a car with collision damage history suffers from. To many buyers and certainly to all dealerships, if the Carfax isn't clean, it's a big hit, no matter how slight the damage. This repair came to just over $4,000 which really isn't much for a rear end hit. Seems like I would have been better off with a much harder hit and a larger repair bill. The repair would have been equally good and the collision history would have looked the same to most observers but the diminished value compensation would have increased in direct proportion to the repair bill.
I'm tempted to try a different route on this before submitting the appraiser's letter. Comments and opinions are appreciated.
05-13-2012, 11:54 PM
#47
Drifting
Sometimes Carfax will not capture all incidences properly. With my prior M3 it had flood damage ($14k in repairs) and a wreck ($15k in repairs). I assumed the worst and just kept her for 10 years... when I sold her last year for the 997 I discovered that I had a clean Carfax even though everything was covered by insurance. In fact, the wreck was documented by an undercover APD officer who happen to be onsite and was a witness. He confirm that the other driver ran the red light. The other driver wasn't so willing to admit fault at 1st.
05-14-2012, 12:42 AM
#49
Nordschleife Master
Thread Starter
Sometimes Carfax will not capture all incidences properly. With my prior M3 it had flood damage ($14k in repairs) and a wreck ($15k in repairs). I assumed the worst and just kept her for 10 years... when I sold her last year for the 997 I discovered that I had a clean Carfax even though everything was covered by insurance. In fact, the wreck was documented by an undercover APD officer who happen to be onsite and was a witness. He confirm that the other driver ran the red light. The other driver wasn't so willing to admit fault at 1st.
05-14-2012, 03:28 PM
#53
Track Day
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I have a story for you; I purchased a brand new M3; day 6 a beatup pickup truck slams in to my rear when I'm standing at a red light. After his airbag deflates and I step out, he takes off!! $8k of damage and driving a Jetta for a month... The cop found the guy, as during his grand escape, he slammed in to another lady's car and hislicence plate dropped off!!
05-14-2012, 07:32 PM
#54
To many buyers and certainly to all dealerships, if the Carfax isn't clean, it's a big hit, no matter how slight the damage.
That's my experience too. The best you'll get from dealerships is what your car will sell for at an auction which isn't very much. A friend of mine had his 997 damaged in an accident in 2007 and the Carfax showed damage to left side of car. Although Porsche Dealers weren' t interested in his car, Carmax gave him top dollar since the repairs were performed perfectly.
That's my experience too. The best you'll get from dealerships is what your car will sell for at an auction which isn't very much. A friend of mine had his 997 damaged in an accident in 2007 and the Carfax showed damage to left side of car. Although Porsche Dealers weren' t interested in his car, Carmax gave him top dollar since the repairs were performed perfectly.
05-14-2012, 07:56 PM
#55
Drifting
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Well, you have pictures of the damage, which was extremely minor, documentation of the repair done right, and a qualified appraiser's opinion on minimal diminished value.
Not much else to be done. Just enjoy the car and deal with any fallout if and when you need to.
Honestly, a knowledgeable buyer wouldn't let that little ding keep them from buying the car if that's what they wanted. They might haggle with you a little on it, but that's about it..
Not much else to be done. Just enjoy the car and deal with any fallout if and when you need to.
Honestly, a knowledgeable buyer wouldn't let that little ding keep them from buying the car if that's what they wanted. They might haggle with you a little on it, but that's about it..
05-15-2012, 04:15 AM
#57
Nordschleife Master
Thread Starter
Well, you have pictures of the damage, which was extremely minor, documentation of the repair done right, and a qualified appraiser's opinion on minimal diminished value.
Not much else to be done. Just enjoy the car and deal with any fallout if and when you need to.
Honestly, a knowledgeable buyer wouldn't let that little ding keep them from buying the car if that's what they wanted. They might haggle with you a little on it, but that's about it..
Not much else to be done. Just enjoy the car and deal with any fallout if and when you need to.
Honestly, a knowledgeable buyer wouldn't let that little ding keep them from buying the car if that's what they wanted. They might haggle with you a little on it, but that's about it..
