How Much is a Repaired Car Worth?

[max_boost]

I need some opinions on this one.

So I have an 03 RSX-S with 35,000kms that is about to come out of the bodyshop after being part of a five car pile up. Damages were $17K but after talking to the bodyshop manager, he assured me that there was very little frame damage and the result of the high repair bill was just in labour and replacements parts. I also have the estimate which verifies this claim. After I checked out the car, it is virtually flawless. It looks brand new, brand new paint, new windows, new parts etc. He went as far as saying, if you didn't tell anyone, no one would know. The type of guy I am, something as significant as an accident, I have to tell to the other party. It just wouldn't seem right. Karma would get me back if I tried to pull it off.

Market value is around $26K. I really want to trade this car in and trade up but I'm not stupid to take a ridiculous hit. Since mine has been damaged prior, how much does it affect its resale value even though it has been completely repaired to OEM specs?

[max_boost]

I'm probably better off just keeping this car.

Have any of you bought a previously damaged car before? If so, how much lower than market value did you get it for?

[JordanLotoski]

i think insurance comps should buy the car off you when shit like that happens..its just not fair.i mean someone hits you and you have to take a huge loss!

[Weapon_R]

I would never buy a car that had a repair bill that high...just FYI

[cobber112879]

Just for curosity: If I were you I would take it to another body shop for an inspection. Tell them you are thinking of buying this car and want to see if it has/had any damage and see what they say.

[Aleks]

Would the accident show up on any records if a person were to do a registry check? How high do the damages have to be before a car is written off? 75% of its value? 100% or more? 17K is really high man. That sucks...

[2.2vtec]

I might be interested if the price is right

[FiveFreshFish]

Originally posted by altima
Would the accident show up on any records if a person were to do a registry check? How high do the damages have to be before a car is written off? 75% of its value? 100% or more? 17K is really high man. That sucks...

Insurance company will pay out the least it possibly can.

[Adica]

that sux, i would just keep the car, the market value of a that rebuilt car would b real low, i would say below 20 grand. and if that car ever gets into a second accident (bad enough for the insurance company to be a write off) it can never be street legal again regardless of the kind of damege... to bad you can really lie about it to potentia buyers cuz it would say REBUILT on your next registration form... sorry to hear... i agree its just not fair

[2002civic]

if you searched im sure the accidents owuld come up, and a17 k in damages would scare anyone off unless the price was a steal so imo your better off keeping it, if you sold it youd prolly get 20 for it

[max_boost]

Originally posted by MIWYFSHOT
i think insurance comps should buy the car off you when shit like that happens..its just not fair.i mean someone hits you and you have to take a huge loss!

What can you do, shit happens! It's a good car, guess I'll have to keep it around.

Originally posted by Weapon_R
I would never buy a car that had a repair bill that high...just FYI

Don't worry I wasn't trying to sell it to you!

Originally posted by altima
Would the accident show up on any records if a person were to do a registry check? How high do the damages have to be before a car is written off? 75% of its value? 100% or more? 17K is really high man. That sucks...

I don't think it would show up in any registry databases unless it was a complete write off and insurance had taken possession of the vehicle and auctioned it off?

If the repair bill exceeds 75% of the car's market value, then they write it off. In my case, I was about $3K short.

[vietdood]

sometimes the insurance companies give you money for lost resale value due to the accident

[markymark]

What was all damaged with it to be repaired? Im not sure but 17k seems like alot...shouldnt it have been written off and then they pay you out? ...don't hold me to that though.

[rage2]

Originally posted by MIWYFSHOT
i think insurance comps should buy the car off you when shit like that happens..its just not fair.i mean someone hits you and you have to take a huge loss!

This is where leasing a car puts you out on top!

With my benz, getting rear ended twice, I'd be PISSED if I financed the car and not leased.

[Redlyne_mr2]

Originally posted by rage2

This is where leasing a car puts you out on top!

With my benz, getting rear ended twice, I'd be PISSED if I financed the car and not leased.

The only other thing that sucks with a lease is that the clock is ticking away at your lease term while you continue to pay for it and wait for estimates, rrepairs etc to be completed.

[rage2]

Originally posted by Redlyne_mr2
The only other thing that sucks with a lease is that the clock is ticking away at your lease term while you continue to pay for it and wait for estimates, rrepairs etc to be completed.

You actually get your lease payments back through the insurance company. Leasing == renting, car out of commission, you're not supposed to pay for it. Thus, you get money back.

[Redlyne_mr2]

Originally posted by rage2

You actually get your lease payments back through the insurance company. Leasing == renting, car out of commission, you're not supposed to pay for it. Thus, you get money back.

Really?? ...I should probably know that but I didnt. Thanks for the info!

[rage2]

They will accuse you of trying to take advantage of them, and bitch you out about high insurance costs because of claims like this, and generally treat you like a bum. Just keep taking their abuse and they'll eventually give in and OK it. It IS your right to get lease payments back through insurance when your car is out of commission.

I mean otherwise, I would've been paying $1000/month to drive a $1000 Ford Taurus!

[max_boost]

Originally posted by rage2

You actually get your lease payments back through the insurance company. Leasing == renting, car out of commission, you're not supposed to pay for it. Thus, you get money back.

Wow, I did not know that. I am going to ask my agent about this. I was told by my lawyer I can sue the other insurance company to claim the lost lease payments, as part of my settlement claim.

Have you looked into legal matters yet? Excuse my bench settlement numbers but if Ludelvr got $12k in his parking lot fender bender, your settlement would be $100K.

[Supa Dexta]

yeah try for a trade in perhaps? that way karma is getting the salesmen back, not you..