How much will these accidents hurt my resale value?

[clevernickname]

Not that I want to sell it, but am just curious.

Car: 2015 mustang GT magnetic base model in automatic.

Accident #1: Hit and run clipped my mirror while car parked. Dashcam caught it. Mirror torn off, scraps hit left side of car so door and..area between door and windshield needed to be repainted along with new mirror ordered.

Accident #2: My fault this time. Hit a Bentley (just my luck, but insurance covered it...), going like 5km an hour or less. Needed new front bumper and part or all of hood was repainted.

Are we talking about a couple hundred or a couple grand? ):

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[bluebeastsrt]

Depends if your talking private sale or dealer trade in. A private sale probably wont cost you a dime unless you run into the one guy in 50 that's willing to pay for carfax. The dealers on the other had all have carfax and it'll cost you a few grand in trade in depreciation. I know for a fact. I had a Camaro SS that had a few minor fender benders and when I went to a few dealers they all tried to low ball me on trade. Even though the insurance company repaired the car to like new condition.

 

[cclmd]

Depends on if it was reported or not and how well it was repaired.

Doubt the mirror was reported unless you filed a claim, so may not have any effect at all if repaired well.

Reported damage that shows up on CarFax will tank your value.

I got rear-ended and had $11,000 in damage. Pre-accident car was worth $14,000, post-accident it dropped to $8000. The reality is you wouldn't pay full price for a car that has a big "ACCIDENT/DAMAGE REPORTED" flag on CarFax and neither will someone else. In fact you might skip it altogether because you never know what actually happened.

:tsk:

 

[Higgs Boson]

Doesn't matter if it's on CarFax. Dealers know everything doesn't always show up. That is why they have handheld paint meters. I can easily tell if a panel has paintwork. The only paintwork that won't affect you is on the bumper covers (as long as it looks right).

You lose value because in most places a dealer is legally required to report (disclose) known damages, repaired or not, to the buying customer. You would want to know the same info when buying a car, right?

Be honest, tell the dealer up front. Create a good relationship. Everyone loves to call dealers liars but there are plenty of customers who hide everything they can.

For all my 25 years (so far) in the auto industry I have had 100 examples of customers lying to the dealer about what they got elsewhere for their trade in (yes, the dealers call each other), if the trade was damaged, what interest rate they got somewhere else, etc etc for every customer complaint about a salesman lying to them about the car they are buying (and that is usually due to lack of product knowledge, unfortunately).

 

[Rypkr937]

Lol at the topic of the thread and then "hit a Bentley". I think ya'll got trolled.

 

[Higgs Boson]

Lol at the topic of the thread and then "hit a Bentley". I think ya'll got trolled.

no bentleys in PA? they do exist.....

 

[bluebeastsrt]

Lol at the topic of the thread and then "hit a Bentley". I think ya'll got trolled.

If he had said he was driving a Camaro and his value was more after hitting a Bentley than our Mustangs. I'd say Troll. Asking a simple question? I don't see your point.:shrug:

 

[Moddiction]

Accidents without a doubt lower value. Considerably too! If I was looking for a used one I wouldn't even consider one with any accident at all.

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