Buying wrecked cars

[kiddsm95]

Hi,

I wanted to collect some data concerning the value of cars that have an accident history. It's common knownledge that a wrecked car will sell for less money when compared to an identical vehicle that has a clean title. The question is how much less percentage-wise on average will a wrecked car sell for, and does this percentage vary between cheap and expensive vehicles.

I ask this because my 2009 Benz C300 Sport with 4,000 miles was t-boned right in front of my house by some teen age girl that some how managed to procure a drivers license. Her insurance company states that a wrecked vehicle typically sells for the same price as a vehicle that hasn't been wrecked. WTF

Now I must collect data to prove that our vehicle has diminished in value and quantify the percentage.

If you have time please consider the three cars listed below and participate in the poll. I know that some of you wouldn't ever consider buying any of the following cars, but let's just say that "IF" you were in the market for these particular cars what would you pay?

2009 Suzuki SX4 MSRP $13,299
Condition: T-boned, replaced 2 doors and a fender, no damage to frame.
Milage: 4,000
Price you would pay?

2009 Mercedes C300 Sport 4Matic MSRP $43,625
Condition: T-boned, replaced 2 doors and a fender, no damage to frame.
Milage: 4,000
Price you would pay?

2009 Porsche 911 GT2 MSRP $194,000
Condition: T-boned, replaced 1 door and a fender, no damage to frame.
Milage: 4,000
Price you would pay?

Thanks in advance.

 

[TSIAWDTalon]

I guess her insurance company isnt familiar with KBB. Kelley Blue Book wont even give a price for a car with a "rebuilt" or "salvaged" title. I am guessing on your Benz fixing it wasnt cheap, did they try to total it? Since it was reproted to both insurance companies (I assume) it will show up on a CarFax, and will take a bigger loss if you either sell outright or trade in.

 

[kiddsm95]

I guess her insurance company isnt familiar with KBB. Kelley Blue Book wont even give a price for a car with a "rebuilt" or "salvaged" title. I am guessing on your Benz fixing it wasnt cheap, did they try to total it? Since it was reproted to both insurance companies (I assume) it will show up on a CarFax, and will take a bigger loss if you either sell outright or trade in.

I'm sure it will show up on the title sooner or later, which is why I'm doing everything I can to try and sell the car. Total damage was $6800 just for 2 passenger doors and the front fender, so no where close to being totalled.

Can a moderator change the poll to allow multiple selections? I wasn't able to figure out how to do this after submitting the poll.

Thanks.

 

[420a-t]

For rebuilt or salvaged titles, you're not supposed to pay anything higher than low book of the vehicle. Also, almost every car dealerships go off of NADA, not KBB.

 

[Spoolin18]

I don't know if this helps, but when my mighty maxx was totaled the adjuster went by the shape of the car, the mileage. I paid $1200.00 for the truck, spent 150.00 for new paint 'cause I painted it myself, so I had $1350.00 in the truck, I put 40,000 miles on it and they gave me $2300.00 and it had 197k miles on it.

 

[1bad95tsi]

Dealers and banks go with NADA not kbb - there usually way off and a typical wrecked or rebuilt salvage car even with low miles goes a good bit under low book - my family has 2 dealer lots i've been buying selling and trading for years

 

[laserspeeddemon]

You can't do this on you own. Hire a lawyer get another used 2009 C300 of equal or greater condition out of the ordeal also get more money to cover lawyer fees.

Let the insurance company keep the car, repair it and then sell it for equal value as they claim the can.

 

[UnsafeAtAnySpd]

The second CTS-V I bought (I totalled the first one and bought it back for only $2600) has a rebuilt title. It cost about 65% pf what they were going for at the time.

 

[kiddsm95]

You can't do this on you own. Hire a lawyer get another used 2009 C300 of equal or greater condition out of the ordeal also get more money to cover lawyer fees.

Let the insurance company keep the car, repair it and then sell it for equal value as they claim the can.

Can I do this? Let their insurance company buy my car for a decent price, then go buy the E550 my wife and I have our eye on? As for our C300 it was already repaired by the Benz dealer using Oem parts, and they did one heck of a job. Were just trying to sell the car now because we don't want a wrecked car.

 

[1bad95tsi]

If they already fixed it and you have it back your pretty much stuck with it- id contact a laywer

 

[srpjosh]

Get your insurance company involved. They would help you in a legal way providing support and will in some cases fight the insurance companies in these matters. I had a girl it me from behind on the highway and her insurance company only wanted to give me $500 for my 95 gst, and I had the car insured for 6500, so her insurance company was bullied by my insurance company to give me the insured amount of 6500. Pretty nice of them.

 

[gorf]

A car that has been wrecked sells for less, and Insurance companies have to make up the difference. Since it was her fault, do not sign off on the car until they agree to pay you a depreciation allowance shoot for 5-10% of the cars value. They will bi*** and moan and make you a lesser offer - but make them compensate you!!!