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Comments
So this is saying you get the Truecar price, AND an additional $1,000 off if you go through Sam's Club? Sounds a little too good to be true.
The losses are fully realized immediately. The losses are mitigated and partially reduced/recovered if the owner decides to keep the damaged goods for a longer period of time. This isn't like a house that goes up and down. Cars go one direction; downward. Even in the case of a classic car worth more than its original purchase price, diminished value would still exist vs. one that hadn't been wrecked.
DV never goes down to zero no matter how old the car. It might flat line really low, but it is always greater than zero on a car in good condition.
Now there might be people out there willing to pay top dollar if they don't care that the car was previously wrecked, and then there are more people like me that won't touch one with a 10' pole. I think you can't ask a person to try and find that needle in a haystack. If Carmax doesn't like accident damaged cars, then it's reasonable to assume no one does; at least when it comes to DV.
Of course, a bent tailgate is not nearly as bad as a bent frame; so severity of the damage and repairs plays a part.
Sounds interesting. I guess it all comes down to whether the TrueCar price is good. An extra $1000 off would be the gravy.
EDIT: I went to Sam's and punched in a 2017 Mustang just like mine. TrueCar price was $2 k off sticker which is what I got in July. So that part is good. Another $1000 would be sweet.
However, I got about $2000 more for my trade for a total of $4k off vs $3k for the Sam's offer. Not really a direct comparison as I got my car at the end of the year (July) and the 2017 are just in.
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
Cars get into accidents every day and they also get fixed every day. Some may suffer from diminished value for one reason or another, and others may not.
2024 Ram 1500 Longhorn, 2019 Jeep Wrangler Rubicon, 2019 Ford Mustang GT Premium, 2016 Kia Optima SX, 2000 Pontiac Trans Am WS6
'11 GMC Sierra 1500; '98 Alfa 156 2.0TS; '08 Maser QP; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '11 Mini Cooper S
If a typical average everyday used car manager can spot that the car has been wrecked and at least two panels have been replaced and/or repainted, that's enough to consider it a DV vehicle. Some might argue there has to be "structural" damage. Then you get into an argument over what constitutes structural.
Interestingly, I was unable to find any published data from Audi that describes what makes a car certifiable or not. What the threshold is. Car Max manager said bolts spun on 2 panels equaled automatic disqualification.
At first I thought they might just be trying to make money selling OEM replacement parts, but I actually think the flyer was issued for the mutual best interests of everyone.
A lifetime body shop warranty is worthless; can you imagine the nightmare of finger pointing every time something broke down? Who do you go to first to check it out?
Remember I had a low beam headlight bulb replaced on the S4? It was on the right and had been replaced due to the accident. I thought about going to the body shop for repair, but instead I went to Audi since I was still under warranty. Thank goodness too because Audi's customer service is great and the body shop's was lousy.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
There was a time I would have bought a car with depreciation in mind, these days I just want to buy the car I want. I try not to get anything too odd as they could be hard to get rid of when the time comes.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
I just built a 2017 E on M-B Canada's site and I don't recall seeing a grey or porcelain leather choice offered. Of course right now I can only build an E300 there. Nice cars, though a bit out of my league.
2017 Cadillac ATS Performance Premium 3.6
My prior E had the same light grey interior, but tex. The current one has the relatively rare brown leather with brown open pore wood, it is quite pretty.
It's out of my league too.....but, I am trying to use up what I have so I don't have to leave it as an inheritance. :@
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Pinstripe Look:
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
Now suppose that your friend got the $8K for diminished value but did keep the car for another year and traded it in with a $6K loss over book. Would your friend give back the extra $1K?
Or supposed that that dealer was just using the accident to lowball the trade in and another dealer gave more for the trade in?
There are so many variables that it is difficult to accurately determine the diminished value.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
However, this is a close kin to when I was teaching Son #1 how to drive back in the mid '80's. One of the first things I warned him about was when he saw an out of state license plate he should be on guard for just about anything especially quick lane changes. After seeing his first out of state license plate he knew exactly what to do and he responded correctly by giving lots of room for the out of stater do his quick lane changes. While this was the first time he actually had to do the proper thing when being behind the wheel he knew what to look for before he even got his permit. This was because for about a year before he got his permit I had him sit in the passenger seat whenever we went anywhere even with Mrs. j in the car (she sat in the back seat). I did this because I wanted him to see what was going on before he got his permit. I wanted him to point out everything he saw, like cars driving erratically, speeders, chronic lane changers, etc. I wanted him to tell me what he would do if he was driving AND why.
It paid off because he turned out to be a pretty good driver even though he often pushes the speed limit. Of course I also get the blame from Mrs. j for his faster driving because one time while driving on his permit he stayed on the accelerator for more than just a few seconds when passing a few cars on the interstate and he had to be going at least 20 MPH over the speed limit. From the back seat his mother is gasping and when she finally caught her breath she wanted to know why he was going so fast. That's when he threw me under the bus and said, "Dad told me not to linger when passing a string of cars. He told me to accelerate long enough to get away from the pack before getting back in the right hand lane." You just gotta love a kid like that, huh?
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
About the hair thing, I have lots of it even now. Like I've said before, not all of it is the original color but there is plenty of it and I'm bragging not complaining.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
Now if I were an insurance industry advocate I would be saying something like look at your policy and see what it states, it likely states that the insurer will pay for any repairs and says nothing about reimbursing for diminished value. If you want that then get a policy that covers that and when you find it be prepared to pay more for it because it increases risk and insurance companies are not charities. A distinction without a difference. Lets see, if you can drive it wherever you can drive your main car and it carries the same number of people and/or cargo then wouldn't they have the same specifications?
Now if you die in a Chevy Spark due to an accident there is no way you can say with any certainty that you would have survived in your old S4. The only way you can solve that issue is that the insurance company to take the car and give you the pre-accident value of your car, but that would be prohibitive.
Now your 10 day time frame is a bit subjective, I could just as easily state that if it sold in less than 10 days then it was priced to low.
Again the diminished value is unrealized until the car is disposed of and there are a multitude of variables that determine the amount when it was disposed of. It is impossible to determine how much would the amount of diminished value be. There are plenty of them out there and there are not hard to find.
2011 Hyundai Sonata, 2014 BMW 428i convertible, 2015 Honda CTX700D
2020 Acura RDX tech SH-AWD, 2023 Maverick hybrid Lariat luxury package.
I think wood will always be available, as it is tradition, and the brand isn't abandoning traditionalists. But it will have more modern or sporty options for new or younger customers. I think I have seen the piano black stuff in CLA, not sure if it is even wood. Europe had had aluminum trim available (maybe even standard) on E for some years, and I think has been available in NA too, but special order - you'll never see one on the lot.
Anybody know how that works?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
Maybe the DM should be calculated at the time of the accident, in my friends case $8000, and then a sliding scale such as 25% less for each year you keep the car...to be paid when traded in.
My point being....the innocent victim of an accident is rarely compensated fairly, and this is just a loop hole for the insurance company.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
August 25
I kind of like the striped material, I would want it in brown rather than black. I don't know if I would want that light colored steering wheel though, it might not look pretty in a few years. I assume that pic is some kind of Designo package maybe not widely available, if at all.
I think wood will always be available, as it is tradition, and the brand isn't abandoning traditionalists. But it will have more modern or sporty options for new or younger customers. I think I have seen the piano black stuff in CLA, not sure if it is even wood. Europe had had aluminum trim available (maybe even standard) on E for some years, and I think has been available in NA too, but special order - you'll never see one on the lot.
Fintail....over 37000 post...how long have yoou been here!
The stripes were available here in black or brown. I don't think I will get a light color steering wheel but I would prefer it if they had it.....the brighter the better for me.
I believe there were two aluminum trims available with different patterns. I like the aluminum look, but a lot of people see the wood and they love the wood look. I think I like the wood because it reminds me of the tradition of fine cars......they had those nice wood instrument panels.
Do you still have that beautiful fintail MB that I assume gave you your name? I don't know if you have been to the Mercedes factory and museum in Stuttgart, but the tour was one of the best trips we have ever done....very worthwhile.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2017 Cadillac ATS Performance Premium 3.6
2013 LX 570 2016 LS 460
2013 LX 570 2016 LS 460
For me equivalent car rental is one that has substantially the same specifications at the one you have.
Now if you die in a Chevy Spark due to an accident there is no way you can say with any certainty that you would have survived in your old S4.
I am not so sure. I am paying a premium amount to pay for insurance on a premium car, I think I should have something similar as a rental. I should not have to do without....the insurance company should provide me with a car of equal enjoyment and safety.
Basically, I am using the rental car to get to tennis and pickleball, on a longer trip we have to use my wife's GLK for comfort and safety.
The Fusion will do, and it gets me from A to B reasonably well, but, why should I be out anything? I am entitled to a premium car, but, I don't have the time to fight for it...and I am sure insurance companies are the lowest priority for the car rental company.
2017 MB E400 , 2015 MB GLK350, 2014 MB C250
2013 LX 570 2016 LS 460
http://bringatrailer.com/2016/08/25/100-fintail-1966-mercedes-benz-230s/
Currently own: 2017 BMW M4, 2011 Nissan Frontier Pro-4X Used to own: 2008 VW R32, 1998 Jeep Cherokee Sport, 1987 BMW 325IS
My aunt had a new Lexus LS that was totaled in the mid-90's and she got a Cutlass Supreme as her rental while they settled the claim, I remember it being such a huge step down from what she had been driving.
The white wheel looks cool, but I'd end up wearing clean gloves while driving, unless it is made of a material you can clean and not harm. I am sure it isn't hard plastic like in an old car.
Here's a shot of the wood in my car, it works well with the interior color, and is unusual - one of the factors that made up my mind. I like this more than shiny wood, the finish is closer to what one finds on a vintage car, or on old furniture:
Yep, the fintail is still alive and well. A quirk here and there, but pretty strong for an unrestored car of its age. I've actually been to the MB Museum in Stuttgart three times, and toured the factory at Sindelfingen twice. It really is a cool experience.
Here's the fintail posing with the new car:
2013 LX 570 2016 LS 460
2013 LX 570 2016 LS 460
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
I guess I just can't appreciate a real luxo machine.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl
2013 LX 570 2016 LS 460
If I had to guess, I'd say MB will get it right on the next model redo or the one after that.
jmonroe
'15 Genesis V8 with Ultimate Package and '18 Legacy Limited 6 cyl