View Poll Results: How much lower will you be willing to buy the car? Fair retail of $21K
<= $4000
4
25.00%
$5000
3
18.75%
$6000
2
12.50%
$7000
1
6.25%
$8000
0
0%
>= $9000
6
37.50%
Voters: 16. You may not vote on this poll
Need Help!!! Diminished value
02-03-12, 08:14 AM
#1
Driver
Thread Starter
Need Help!!! Diminished value
Guys
My car is 2008 IS250 RWD with ~51500miles, premium package (nav, backup camera, wood trim), 17" wheel. Fair private value is around $21K.
Here is what I need your help with. I've involved in an accident (not my fault, rear-ended) and cost of repair is around $10,233. I'm going through the diminished value claim against the other party's insurance. Realistically, I want to know if you are a potential buyer of my car "HOW MUCH LOWER WOULD YOU BE COMFORTABLE BUYING IT?"
I'm sure someone will comment that it depends on many factors (quality of repair, frame damage, etc). It is frame damaged all right. But NO formula or calculation of diminished value is more accurate than what buyers think a car is worth because ultimately you guys are ones who will be buying it.
Please help me out by posting how much you are willing to pay for a car with this kind of accident.
I appreciate all replies. This will help me much in my dreaded negotiation with low-balling insurance company.
EDIT: Poll added. Inputs are appreciated
My car is 2008 IS250 RWD with ~51500miles, premium package (nav, backup camera, wood trim), 17" wheel. Fair private value is around $21K.
Here is what I need your help with. I've involved in an accident (not my fault, rear-ended) and cost of repair is around $10,233. I'm going through the diminished value claim against the other party's insurance. Realistically, I want to know if you are a potential buyer of my car "HOW MUCH LOWER WOULD YOU BE COMFORTABLE BUYING IT?"
I'm sure someone will comment that it depends on many factors (quality of repair, frame damage, etc). It is frame damaged all right. But NO formula or calculation of diminished value is more accurate than what buyers think a car is worth because ultimately you guys are ones who will be buying it.
Please help me out by posting how much you are willing to pay for a car with this kind of accident.
I appreciate all replies. This will help me much in my dreaded negotiation with low-balling insurance company.
EDIT: Poll added. Inputs are appreciated
Last edited by rac2max; 02-03-12 at 10:38 AM.
02-03-12, 09:07 AM
#5
Driver
Join Date: May 2011
Location: PA
Posts: 184
Likes: 0
Received 0 Likes
on
0 Posts
Go to a dealer, test drive a car and get a "trade-in value". 21k minus the first trade number they give you (which will be the lowest) is the number you should get. That is what I would do....
02-03-12, 10:03 AM
#6
Driver
Thread Starter
Please post how much you'll be willing to buy this car after the accident
Trending Topics
02-03-12, 10:23 AM
#9
Driver School Candidate
Join Date: Jun 2010
Location: Mi
Posts: 30
Likes: 0
Received 0 Likes
on
0 Posts
It would have to be a several thousand dollar discount from the lowest price of an equivalent 2008 that has not been in an accident. I think the 15k-16k is a good estimate. Frame damage is a biggie, I know lots of people that wouldn't buy a frame damaged car period. So beyond the lower value you also have a smaller number of perspective buyers.
02-03-12, 10:26 AM
#10
$10,000+ in damage?!?! is your insurance company going to brand the car as rebuilt on the title? if so personally i wouldn't touch it with a 10 foot pole with that, insurance is hard to get for a Rebuilt vehicle
and 10g's in damage is Huge! IS350's up here in canada are going for 16-18,000
and 10g's in damage is Huge! IS350's up here in canada are going for 16-18,000
02-03-12, 11:05 PM
#13
^^^^
Most of us would pass but OP is trying to get an idea of what somone would pay for his car.
Might help give some of us a better idea with pics .Anyone that usually tries to make deals with cars that have been in accidents dont have alot of $$$ and is looking for a sweet deal and can bare with any kind of accident as long as the car appears to be in good shape and running, but expect to be low balled as much as possible.
Most of us would pass but OP is trying to get an idea of what somone would pay for his car.
Might help give some of us a better idea with pics .Anyone that usually tries to make deals with cars that have been in accidents dont have alot of $$$ and is looking for a sweet deal and can bare with any kind of accident as long as the car appears to be in good shape and running, but expect to be low balled as much as possible.
02-06-12, 08:33 AM
#15
sorry to hear about the wreck but in my honest opinion. when I was looking for my Lexus and all the other cars I purchased............if the carfax had an accident indicator, regardless of price or value or item, i refuse to even give it a shot or a looking. it could be an LFA for $20k and if it was in an accident according to carfax I wouldn't buy it. its an extreme example but just saying
GL
GL