Car Fax vs Trade In Value

R

Rienell

Guest
Ok... I need a new ride. I'm no doubt going to get killed this winter in the car I'm driving now. For some reason, nobody can see my car. I get "swerved" on all the time. I dont' know if it's the color, (platinum) or it's just really small/low to the ground. It's like I'm invisible. (and its everywhere, not just somd)

I was rearended at a stop light of all places, and damn near totalled it. Did 5k worth of damage. I was very lucky the frame & suspension wasn't damaged. While Chesepeake Collision did a heck of a job restoring it to new, I now have this black mark on my car fax report.

So now, what can I expect if I still want to trade it in? I know the dealers will look up the car fax, so there's no point in not disclosing it. How much should I expect to get for a trade in if it was 14k before? Any words of wisdom in this situation?
 
P

Patch Tuesday

Guest
Rienell said:
Ok... I need a new ride. I'm no doubt going to get killed this winter in the car I'm driving now. For some reason, nobody can see my car. I get "swerved" on all the time. I dont' know if it's the color, (platinum) or it's just really small/low to the ground. It's like I'm invisible. (and its everywhere, not just somd)

I was rearended at a stop light of all places, and damn near totalled it. Did 5k worth of damage. I was very lucky the frame & suspension wasn't damaged. While Chesepeake Collision did a heck of a job restoring it to new, I now have this black mark on my car fax report.

So now, what can I expect if I still want to trade it in? I know the dealers will look up the car fax, so there's no point in not disclosing it. How much should I expect to get for a trade in if it was 14k before? Any words of wisdom in this situation?
Click to expand...

A couple of issues. You should Google "diminished value claim" and get smart on that issue to see if you can force the insurance company to give you difference between what the car was worth before and after the wreck. Each state has different laws and the insurance companies hate those two words...

Next, if there's no frame damage, then your car can still be sold as a "certified used car," so that should minimize your trade-in hit. Make a point of telling them that...

"Carmax," in Laurel, I believe is the word you meant to use. You should go there and get a free appraisal for your trade before shopping it to anyone else...

:popcorn:
 
Dymphna

Dymphna

Loyalty, Friendship, Love
Patch Tuesday said:
"Carmax," in Laurel, I believe is the word you meant to use. You should go there and get a free appraisal for your trade before shopping it to anyone else...

:popcorn:
Click to expand...
CarMax is a dealer, CarFax is a reporting service that lets anyone who pays the fee know if a car has ever had an accident. The info is collected through insurance claims.
 
P

Patch Tuesday

Guest
Dymphna said:
CarMax is a dealer, CarFax is a reporting service that lets anyone who pays the fee know if a car has ever had an accident. The info is collected through insurance claims.
Click to expand...

Good call, I couldn't remember if that was the name of it or not...

Anyway, she should still go to Carmax for a trade-in appraisal. The amount they are willing to buy your car for is almost always higher than the amount that most dealers are willing to give you for your car...

:doh:
 
R

Rienell

Guest
Patch Tuesday said:
A couple of issues. You should Google "diminished value claim" and get smart on that issue to see if you can force the insurance company to give you difference between what the car was worth before and after the wreck. Each state has different laws and the insurance companies hate those two words...

Next, if there's no frame damage, then your car can still be sold as a "certified used car," so that should minimize your trade-in hit. Make a point of telling them that...

"Carmax," in Laurel, I believe is the word you meant to use. You should go there and get a free appraisal for your trade before shopping it to anyone else...

:popcorn:
Click to expand...

That is good info. Since it wasn't my fault, I am surprised USAA didn't mention that. I need to give them a call. Thanks.
 
P

Patch Tuesday

Guest
Rienell said:
That is good info. Since it wasn't my fault, I am surprised USAA didn't mention that. I need to give them a call. Thanks.
Click to expand...

I seriously believe you are right about platinum colored vehicles. I got rear-ended twice in a platinum color car...

The second one, I didn't even bother fixing it before trading it in. I drove it straight to a dealer and opened my checkbook, before I got killed...

:popcorn:
 
Kittykat33

Kittykat33

Why me??
Rienell said:
That is good info. Since it wasn't my fault, I am surprised USAA didn't mention that. I need to give them a call. Thanks.
Click to expand...
I work at a car dealership and it might be hard to get a good trade in. It doesn't matter if it was your fault or not.
They just see the damage to the vehicle.
 
P

Patch Tuesday

Guest
Kittykat33 said:
I work at a car dealership and it might be hard to get a good trade in. It doesn't matter if it was your fault or not.
They just see the damage to the vehicle.
Click to expand...

That's exactly why people should be entitled to a "diminished value" claim...

:popcorn:
 
aps45819

aps45819

24/7 Single Dad
Patch Tuesday said:
I seriously believe you are right about platinum colored vehicles. I got rear-ended twice in a platinum color car...

The second one, I didn't even bother fixing it before trading it in. I drove it straight to a dealer and opened my checkbook, before I got killed...

:popcorn:
Click to expand...

You should have leased it insted of buying
 
R

Rienell

Guest
Kittykat33 said:
I work at a car dealership and it might be hard to get a good trade in. It doesn't matter if it was your fault or not.
They just see the damage to the vehicle.
Click to expand...

I think they see an excuse to deduct trade in value so they make money on resale.
 
dave1959

dave1959

Active Member
Rienell said:
That is good info. Since it wasn't my fault, I am surprised USAA didn't mention that. I need to give them a call. Thanks.
Click to expand...
Insurance companys will pay diminished value if you press them. Also get this straight.......

Insurance companys are ONLY looking out for their best interest not yours !!!

I was involved in an accident that was the other persons fault and they got cited, my insurance co paid 1/2 the claim to avoid going to court because it would cost more in legal fee's. Then they turned around and charged me with an accident and removed my accident free discount because they had to pay out. I'm not with them anymore.
 
itsbob

itsbob

I bowl overhand
Patch Tuesday said:
A couple of issues. You should Google "diminished value claim" and get smart on that issue to see if you can force the insurance company to give you difference between what the car was worth before and after the wreck. Each state has different laws and the insurance companies hate those two words...

Next, if there's no frame damage, then your car can still be sold as a "certified used car," so that should minimize your trade-in hit. Make a point of telling them that...

"Carmax," in Laurel, I believe is the word you meant to use. You should go there and get a free appraisal for your trade before shopping it to anyone else...

:popcorn:
Click to expand...


Damn shame she bought the car and didn't just rent it..
 
P

Patch Tuesday

Guest
itsbob said:
Damn shame she bought the car and didn't just rent it..
Click to expand...

Whew, I'm just relieved that she didn't buy it at the height of the car bubble, thinking it would only go up in value...

:whistle:
 
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