Car value after accident?

Question

I got told that a car, after an accident, loose its value drastically even if repaired. What is the reason?

Well, I must say it would really depend on which kind of accident it has been involved in. If it has been full fixed and changed(with new parts), I can't really see a problem, actually in a point it would be better.

Answer 1

Because things are not the same. It doesn't have the orginial paint job, the frame or unibody may have been bent, and even if straightened it is more prone to deform again since the metal has already been streched. Other parts may have come under stress and not been replaced.

A lot of reasons like that. One question for you, would you buy a car that has been wrecked or one that has not been wrecked, if both are the same price? See what I mean?

Answer 2

I have been a licenced insurance broker for some years. In our market, a properly rebuilt auto, passing all of the body integrity and safety inspections, is considered to be the same value as before the accident. In many cases, people take the repair time as a chance to repaint and detail the whole body, actually increasing the value of the vehicle.

Answer 3

It depends upon the extent of damages and how it is repaired. If the chassis or body shell is replaced by new one the vehicle condition is good, value will not come down. But the buyer will hesitate to buy an accident vehicle. Because he don't know whether it is repaired properly or not. Please note that even the new car value will comes down one it comes out of show room.

Answer 4

I agree with you, a properly repaired car can easily be as good or even better than the original. However, it's part of human nature to be dubious and wonder if the repairs have been correctly, even if they patently have. It needn't cause a drastic drop in value, particularly if you're honest and up front about it and explain who did the repairs etc.

Answer 5

It depends entirely upon how severely the vehicle was damaged. A minor fender-bender will not materially affect the value of the vehicle as long as the repairs are done properly. Severe damage involving frame damage or uni-body deformation will affect the value even if competently repaired.

Answer 6

It depends on howw bad the crash was. A car will always loose value after a crash and could even be dangerous to drive. If the suspension was badly damaged for example the handle may never be the same again. You should probably get it checked, if it was severe, by a trusted garage or main dealer.

Answer 7

as u say depends on the damage if it is a good repair then i agree shouldnt affect value too much if it is written off and insurance paying out get ready to pick up a pittance not much value in scrap sorry

Answer 8

while you consider the coverage organization, you would be additionally settling with the driving force who grow to be as quickly as to blame for the damages because of this coincidence. so as which you cant sue them, thinking in effect while you settled with the coverage, you would be complete and this declare would be closed. The reason that all of us purchase coverage is to maintain us from being sued. in the different case, absolutely everyone after settling with coverage, might then pass after the choice guy or woman and the courts that are already clogged with court docket situations, might desire to be settling claims 10 years from now for something that handed off right this moment. Your examine maximum in all risk reported in complete and appropriate settlement of ALL claims of Date of Loss and driving force. It sucks, yet you may lose. in basic terms authentic luck