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Pricing used vehicles involved in accidents/reconditioned

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  • cccompsoncccompson Posts: 2,388
    I'm presently considering an '01 Nissan Pathfinder being privately offered at $8800. Carfax reports that it sustained "moderate" damage when hit in the rear a year ago. The owner says the crash only impacted the bumper (which was replaced). Cosmetically, the vehicle looks fine without evident visible evidence of the repair.

    How much, if any, does the Carfax report itself diminish the value of the vehicle?
  • greanpea68greanpea68 Posts: 1,996
    How much, if any, does the Carfax report itself diminish the value of the vehicle?

    If the vehicle had frame damage ands was reproted it will say it on car fax... But there always the ones that slip through... Moderate damage can be just a bumper though. If you are that worried bring it to a mechanic or a nissan dealer. I know my store would charge $90 to inspect the vehicle for you. Most independent shops charge about the same.

    I would rather have a dealer look at it though because would notice frame damage right away. That is all you have to really be worried about.
  • volvomaxvolvomax Posts: 5,274
    there is no hard and fast rule.
    Partly it depends on the car, the damage and what the report actually says.
  • cccompsoncccompson Posts: 2,388
    My concern is solely about the effect on the value of the vehicle given the Carfax notation of "moderate" damage.

    This appears to be a nice clean Pathfinder SE 4WD with 98K on it - I'm not worried about unrepaired (or improperly repaired) damage.
  • cccompsoncccompson Posts: 2,388
    Max, I see that in another thread that you just docked an '04 Camry at least a grand on trade due to a replaced fender. Same thing here? Or does the fact that it was kissed in the rear make it worse given that the uncertainties are somewhat greater?
  • volvomaxvolvomax Posts: 5,274
    The Camry was newer and had less mileage.
    Plus, w/ the new fender,and missing body sticker, its easier to see that it had been hit.
  • cccompsoncccompson Posts: 2,388
    So you see it as taking less of a hit. That's one vote for zero deduction and one vote for less than a grand in diminished value.

    It looks to be worth $8000 to $8200 private party if it had a clean Carfax. With a blemished record like this, $7200 seems dicey to me.
  • volvomaxvolvomax Posts: 5,274
    Yes, the older the car, the less the hit in value.
  • Fool me once, shame on you, fool me twice, shame on me...

    I purchased a used Nissan Altima 2.5S model about 10 months ago. I'm now looking to trade, due to the fact that I'm just not happy with it. Well, I go to a Honda dealer to look at a 2007 Accord EX-L w/ Black Leather interior, nice. I'm considering to purchase the car, so the manager looks at what I'm trading. He notices that my car has had a PAINT JOB. What!!! No chance in me getting the kind of deal I was expecting. This news shocks the crap out of me. The cars value plummets. What can I do in my case? Can I take my Altima back to the original dealer and get some sort of refund? My suspicion is no, but surely there is something that I can do. Car fax shows a clean history. I live in TN, but the lemon law doesn't apply since the car wasn't purchased new. The paint job is nice, but if you look at the edges of the door, hoods, etc., it's so obvious. I hope that someone can give me some advice in my situation.
  • volvomaxvolvomax Posts: 5,274
    Lemon Law only applies to manufacturers defects.
    NOT accident repair.

    Personally, i'd go back to the dealer you bought the Nissan from and trade it in to them.
    Obviously, they knew the cars condition when they sold it to you, so they shouldn't have any qualms about taking it back in trade.
  • dtownfbdtownfb Posts: 2,915
    Check if Carfax has a warranty? I remember hearing that they ahve some sort of guarantee.
  • First, so glad to literally stumble on this site, I had no idea about this DV. I was researching pricing on the car and found you folks :-) as I do not want the car back and was worried about the dealer/buyer finding out about the accident...readers digest version, (and the day before I was putting it in storage for winter) I was in the right a.k.a SLOW lane driving EXACTLY the speed limit because it had started to rain, the M6's first time in the rain. I have two other cars at home and this was the last one I wanted anything to happen to. I felt that this is "my" masterpeice car I have saved years for to pay cash for it and I will just take her easy. Turned on all the traction/safety modules, turned the M mode off and turned the engine output down to 400rwhp (it's simply a button) driving...driving..driving...wham double-semi goes roaring past me, the vehicle caught the draft of it and pushed (rather felt like picked up and moved) the car into a spin only to realize despite all the safety,braking,steering, features assisted (looking back I was shortly in complete awe!) yet the car did a 360 from the right to the left lane and I hit the median headon - airbags deployed, this cage came flying out of nowhere and surrounded each seat and the roof (again, a moment of awe, quickly abrupted by the damage that was happening to my dream. BMW was calling even before the car stopped sliding, props to them as police, DOT, etc where all onsite w/in about 3-5 mins. The first words from the gentleman that stopped (one of several folks) and was brave enough to pull the door open and get me out was "HE'S F* ALIVE! (not a scratch other than my back and my mental state - little bruse from the seatbelt).
    ah, sorry for the novel....
    it was immediatly taken to a junkyard. Took 2 wreckers to push it onto the flatbed because all four rims where "toed" I think they called it; laymens they were broken/bent off and the car was sitting on the pavement. took pics of the car soon after that day, Seven, yes, seven including the dealership said it's gone, its totaled yet Farmers will not total it. FINALLY, I found a Lamborgini performance/repair shop up north that would accept my baby. A month later now, they are STILL finding more and more problems, I paid $120K, abt $10K over sticker as most of you know "it's an M6 Cabrio" rarest beauty BMW produces since they ship less than 1500 to the states with less than 500 being 'verts (so I told at the dealership) Clearly, the car is a rare gem, obviously took immaculate care of it, plastic was still on the back floorboards and parts of the seat. Had about 6500 miles on it (brief stint to southern Indiana as I won a contest to meet the band Staind (aka Aerosmith to those before my time) Other than this, the car sat in the garage, washed every weekend, waxed every month, yada yada you get the point.
    So I find out they are putting aftermarket parts on it, suspension, rims, etc, I mean come on this is a performance, dream driving automobile and they are trashing it like this. In all fairness the shop did their darnest to explain how this is going to throw everything off because the computers are expecting this and that and this "inerta" - sp? Would absolutly not perform the same, tires are nitrogen filled, they ordered air, small to big changes to a less than 1 year old SuperCar. It is up to 45+K damage. Now, who in their right mind who is in the market for THE BMW M6 is going to even consider my car. I was blantently told by the adjuster (whom BTW appraised only 12K damage - shows you what he knows) that it will be restored to its pre-accident condition. True, it will "look" the same, but it will never handle or be worth anything. I planned on keeping this forever, it's a serialized collectors automobile - I love it to death, never drove it, but just loved it sittin all high and mighty. (not brag session here) but you folks seem to be great car enthusiasts and understand this peice of iron is worth next to nothing. One online DV assessment I followed in one of your links came back with $36K!!!

    Those that made it this far, I thank you so much. That being said, what are my options? I am faced with a one car accident yet several; witnesses that saw what happened, the computers in the car show EXACTLY what happened, I am at no fault, 29 y/o male with a perfect driving record and a passion for "the automobile" if you will; owned quite a few cars along the way to this one and nothing compares, now its worth nothing. DV has NOT been discussed as I just found out right here on your board. Policy states nothing about this clause as well. SHould I contact farmer insurance and discuss options, get an appraisal first, hire a lawyer first - ---

    ah, yall get the point and looking forward to ANY advice or how to approach this with the insurance. I'm an honest character, even returning the check they sent me for a rental because I have two other cars I can drive - why cost them money, they have been great in the past, I have sent well over a dozen clients in the past 15yrs with them, but I really dont want to upset them more than they CLEARLY already are, but this is my baby and this is why we have insurance and now I feel a bull as about to come crashing down when I try to sell it.
    again, sorry so long, this site is so informational, had absolutly NO idea this DV was part of your insurance. It's clear they never said a word!!
  • cccompsoncccompson Posts: 2,388
    Advice? Given the amount of money potentially at stake here, hire a lawyer to handle this ASAP.
  • joel0622joel0622 Posts: 3,302
    +1

    What does DV mean?
  • stands for "diminished value"; google around for more info but (pretend) say you are in the market for a used car right. you find two rare BMW M6 convertibles, same price,close mileage, specs, all the papers, all the build sheets from GMhB, even the final test specs from the track before it came to the us (as every M series car is tested from everything to how much sound the engine makes to how dense the paint is) crazy engineering! knowing this, with the same price of $120K and the only difference is say color; you know its built for performance - would you buy the one that had $40K in damage? Heck no. The car is "diminished", therefore you may be entitled to that difference. you will never get the same price when you sell it. ex; I grabbed up a 96 olds for the winter, something to get me from point a to point b; they had two of them only diff was one had 3K more miles and it was beige (iother was a silver one) ran the CarFax, saw the accident and got the dealership to drop to almost 40% less!!!! i didnt care cause i planned on donating the SOB after winter anyway. so this DV can go both ways; but in this case you as a seller of wrecked car; well you're screwed.

    hope that explains a little bit; but goggle around so much info; oh and google for Farmers Diminished Value Claim - lawsuit after lawsuit. I did several insurance co's and Allstate had the most- you should check your's out and perhaps re-read your policy or all your agent regarding this. it will make them cringe that YOU are educated.
    dvassessDOTcom and mycarlostvalueDOTcom to get you started

    Cheers!
  • joel0622joel0622 Posts: 3,302
    Oh OK, do you live in a Diminished Value state?
  • fordfoolfordfool Western New YorkPosts: 87
    Seems that a lot of cars and trucks with salvage titles are going to Latin America and Eastern Europe.

    link title
  • volvomaxvolvomax Posts: 5,274
    Typically, DV only applies if someone else hits your car.
    You go after the other guys ins co for DV if they are at fault in the accident.
    It looks to me like you were in a 1 car accident.
    Your insurance policy only requires that your car be repaired, so I don't think you are going to be able to go after your insurance co for diminished value.
  • sriramgsriramg Posts: 3
    I bought a Toyota Corolla 9 months ago. It had been in a minor accident causing some scratches. I had got the vehicle inspected then and found it to be free of major mechanical problems. I am trying to sell the car as I m returning back to my country and i m finding it difficult to sell to private parties. My car is a Toyota Corolla 2001 S and it has 106K miles on it. It has no defects at all whatsoever except for few scratches on the side of the bumper. The blue book value is $5645 for a good condition car, but there are no takers even at $5200. Am i not pricing it right ? I have mentioned the price to be negotiable.. I have had several people coming and test driving the car, saying that its good etc. etc. but no concrete offer yet. Anybody has any experience ? What would a dealer pay for such a car ? What would CarMax pay? Do they take cars that has been in accident ?
    If you want to take a look at the car go to

    Pictures of my car
    ">link title
  • qbrozenqbrozen Posts: 17,150
    well, i'm not sure of all the options, but for an S with auto trans and that many miles, Edmunds pegs it at $3500 for average condition private party.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '14 Town&Country

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