10-24-2020, 10:31 AM | #1 |
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Need some purchase advise - Damage on Carfax
I'm looking for a loaded F80 Comp pack 6mt. Came across a nearly perfect car except it has a ding on the Carfax - "Damage reported to front - car towed. No airbag deployed"
The current owner tells me the prior owner hit a pot hole and got towed to dealer for new wheel and tire. Assuming the story is true and no body damage occured, how much do you think this has on the resale value? I'm most concerned when I go to sell the car in a few years.
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10-24-2020, 10:51 AM | #2 |
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I did a quick good search and got my answer. I'll plan on a PPI and get more details.
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10-24-2020, 10:56 AM | #3 |
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Hard to put a exact value on it but if in say 3 years from now you go to sell it and you keep the car "nearly perfect" i don't see how you could loose much if anything.
As a car ages accidents and minor damage becomes more accepted & expected and does not impact its market value as much as say a 1-2 year old car with only 9000 miles on it. People are much pickier when spending 60k vs 30k As long as its was repaired right and you feel the price is good ...go for it. |
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10-24-2020, 11:09 AM | #4 | |
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10-24-2020, 11:37 AM | #5 |
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Thanks guys.
Seems CARFAX has stepped up their reporting over the past year. More things and categories getting reported. I guess it's a good thing.
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10-24-2020, 11:57 AM | #6 |
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i always look at how many miles each previous owner put on the car if there is an accident listed on Carfax. If there also a lot of repairs entered on Carfax after the incident, that will give you an idea that the car had some residual problems.
I’ve bought cars with a blemish on the Carfax and have usually gotten a little more off the asking price.
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10-25-2020, 11:27 AM | #7 |
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Carfax still can’t be relied on to give all information. It’s still a hit or miss. I’ll echo what some others already mentioned but add in that since you’re adding to the total owner count, you’re already lowering the car value.
I don’t see much of the resale value dropping on just these variables alone. Assuming you don’t do anything to the car, you’re not going to be able to assume you won’t bring values down yourself. Even in two to three years from now, who knows what the used car market will be like? As you stated, do the PPI for peace of mind, see if you can get a vehicle history from the SA, drive it, enjoy it, and when it comes time to sell it, hope all your stars align and you get the best price. |
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10-25-2020, 01:49 PM | #8 | |
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10-25-2020, 02:52 PM | #10 |
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In addition to PPI, ask current owner for pictures and repair documentation that he hopefully obtained from previous owner. If he has it should help with assessing situation now + next sale. If he doesn’t, then no way to know whether his story is true.
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10-25-2020, 03:00 PM | #11 |
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Unless there are pictures of the damage , you are taking a risk . The fact that it had to be towed tells you that it was more than just a fender bender.
No matter what, the resale value will be lower than the same car without damage. Most pure enthusiasts will look for one without damage, unless you are upfront and have all documentation to show that the damage was minor. You are paying a lot of money for the car, so might as well buy one without an accident. Good luck. |
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10-25-2020, 07:05 PM | #12 |
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Nobody looks to buy a car that's been in a accident so of course try and find one that hasn't .... but its not a deal breaker for me as long as the repair work was done proper and i see zero evidence of the repair work. ( no frame damage or branded titles ).
What would be a deal breaker for me shopping for a used F8X is if the car had been tuned or if i find too much general lack of care like to many little body dings/small dents, curbed wheels, excessive interior wear. I passed on several cars ( and a 15 that was tuned ) because of this before i bought mine. A car that shows pride of ownership is important to me. |
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10-25-2020, 08:13 PM | #13 | ||
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Not sure that just because it was towed that is was more than a just a fender bender. I got a flat and had to call BMW assist to have the car towed because there is no spare and I wasn't going to use the sealant and ruin the TPMS sensor. |
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10-25-2020, 09:40 PM | #14 |
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According to the owner, the car was towed because of a flat. I'm planning on getting a PPI. The MSRP is $94k with CCB's and he added BMW performance exhaust and suspension. $60k. Plus, he upgraded to a 2018 touch screen and 2018 wheels with new pilots.
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10-25-2020, 10:55 PM | #15 |
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Have him show you pictures and receipt of repairs.
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10-26-2020, 10:58 AM | #17 |
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OP didn’t like answers in this one?
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10-26-2020, 11:16 AM | #18 |
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Well, this one started as just a Carfax question.
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10-27-2020, 08:08 PM | #19 |
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Dude, I was all militant on the carfax; but I had to make a purchase due to my lease expiring so I bought an M4 with corporate usage and rear end damage on the car fax, it's been a year and so far so good. I even had it checked a few times at the dealership just to make sure anything needs to be addressed under warranty, and everything was in great shape. I guarantee that I can make money at least 10k if I sold my car today. You're good man.
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