Quote:
Originally Posted by Relak
Quote:
Originally Posted by IK6SPEED
After going through a similar event (minimal rear damage and a $1800 repair), I would have gone with cash as long as you had buyer admitting and agreeing to pay on a smartphone video.
I went for his insurance and now the Carfax shows a rear collision and the car which is perfect is worth about $5000 less with the carfax ding.
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I understand the concern with the accident diminishing the value of the car, but unfortunately that's just part of vehicle ownership. I personnaly would let a potential buyer know that the vehicle had been in a minor accident (if I were to sell the car) and provide them with the relevant paperwork from the repairs. It pays to be honest.
Also, you can file for a diminished value claim with the insurance company. Its hard to get them to pay what you think you should be paid, but none-the-less they will pay something in most cases. There are certain criteria that need to be met, but if you're worries about the vehicle being worth less, a DMC can help offset the hit you take when you sell the vehicle. |
Aware of all this.
The issue is that the Carfax ding will keep potential owners from even getting as far as to explain how minor it was.
A BMW Dealer had literally been begging me to buy my BMW. Now with the Carfax report, he won't even touch it unless on a trade in.