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Pricing used vehicles involved in accidents/reconditioned

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  • 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: 17,689
    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; '15 Fit; '98 Volvo S70; '14 Town&Country

  • sriramgsriramg Posts: 3
    I had checked Edmunds as well. The car is Clean and the price is $5645 ($100 less than KBB) with the options that I have in my car. If i choose average, the price is $4375. How did you get $3500 ? :confuse:
  • qbrozenqbrozen Posts: 17,689
    Like I said, I'm not sure of the options. You didn't list them.

    You said the car has been in an accident. It also has a ton of miles. That, in my opinion (and in the opinion of many many shoppers), puts it in the "average" category. Depending on the carfax report, it may not even be as high as average, to be honest.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • 204meca204meca Posts: 366
    Typically used a Prius with less than 20K miles sells for about $ 500 less than a new one here in NW WA.
    I am considering a loaded 2007 Prius w 9K miles for $18500. The hitch is that it has a salvaged title & was originally registered in my county (so at least it is not flood car!). Carfax says airbag deployed. The seller swears it did not & says take it to a mechanic. I imagine even Carfax could make an occasional error.

    I would definitely take it to Toyota dealer a for a pre-purchase inspection. Will a dealer be able to tell definitively if the airbag are functional or is there someway a savvy rebuilder could cover up a missing airbag? Thanks
  • cccompsoncccompson Posts: 2,388
    The Carfax information about airbag deployment is most likely taken from the police crash report.

    Could it be wrong? Possibly

    Could the police have got it wrong? Possibly

    Could the seller be misrepresenting the vehilce? Possibly

    Can a mechanic be able to tell if bags are functional? Probably

    Can a missing bag be covered up? Probably

    That's quite a few "ifs," especially on a vehicle that is worth one-third to one-half less than one without a salvage title.

    Personally, I'd also be concerned about possible hidden damage to the battery pack and would pass on this puppy.
  • volvomaxvolvomax Posts: 5,274
    Walk away.
    1 You aren't saving NEAR enough money.
    That car does $20,-22k at the auction if its in 1 piece.
    So, unless you can get the car for half that,it's really not worth it.
    Second, salvage cars are rarely put back together correctly.
    Who knows what will go wrong, and oh by the way,you have NO WARRANTY.
    Just step up and pay real money like all the other lemmings, or save your cash and buy a Yaris.
  • My 2002 Buick Rendezvous has a salvage title. Plus it has an engine oil leak that Lucas Stop Leak has worked on. Have not had to add any oil since using Lucas.

    KBB says worth about $4200 in "fair" condition. With the 2 factors listed above, what would a fair price be?. I have two people who want to buy it and I don't know what to ask for it.

    Thanks!
  • volvomaxvolvomax Posts: 5,274
    First of all, you cannot use KBB or ANY other yardstick for a salvage title car.

    Private party, the Buick is probably a $1000 car,if that.
  • jwilliams2jwilliams2 Posts: 883
    edited August 2010
    I had no idea an M6 was so unstable it could be blown off the road by a passing semi in the rain. Scary for sure.
  • delthekingdeltheking Posts: 1,152
    So , is this site reliable or trustworthy? Any one tried it ?? :shades: :P
  • montegrlmontegrl Posts: 3
    I have been considering buying a reconditioned 2009-2011 Ford Crown Victoria p71 from a body shop that specializes in them. They will repaint a car and upgrade the interior as per the customer's wishes. Said vehicle would be between 80-100k. I'm told they do a mechanical inspection and complete needed repairs. So far I have not been able to find reference or reviews online for their work. I would check the title but I have been told that damage on government service vehicles does not show up on carfax.

    I am interested in the interceptor mostly because I want a large rear-wheel drive car with some performance that I will not have to break the bank for. It helps that these are relatively cheap and easy to fix with abundant parts available. Suggestions and advice please!
  • qbrozenqbrozen Posts: 17,689
    I certainly wouldn't put alot of money into such a car. They are really worth very little as is. As long as you plan to run it into the ground and not resell it, then the history shouldn't matter (provided it is deemed safe and properly repaired, of course).

    Have you ever driven one? You mention performance, which this car does NOT have, so just want to make sure you know what you are getting. Just to give you an idea, the american Top Gear actually did a humorous bit where the 3 hosts were all driving Crown Vics in police guise and were absolutely dusted in a matter of seconds by the Stig driving a Honda Odyssey. While probably sensationalized a bit for TV, its really not far from the truth. Having said that, it should be a very reliable car when properly sorted.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

  • montegrlmontegrl Posts: 3
    Thanks for your reply. That was a really funny bit on Top Gear! Yeah, the Odyssey has similar HP as the police Crown Vic. Which is why they needed to replace them I think! We're really looking for cheap, reliable and easy for mechanically-inclined owners to fix. The interceptor is a bit better than civilian models (I have an old one).

    Anyone have any stories or suggestions regarding companies who recondition them? What are they worth?
  • qbrozenqbrozen Posts: 17,689
    edited May 2013
    Hopefully, this link works. That should show all the completed listings for 2009 and up on Ebay over recent months. Looks like about $4k-$5k for those with 90k-100k miles.

    EDIT: I can't get the link to post. Oh well. If you search completed listings on Ebay, you can get an idea.

    '13 Stang GT; '15 Fit; '98 Volvo S70; '14 Town&Country

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