Diminished value claim, need your thoughts
Lead Lap
Joined: Apr 2002
Posts: 4,892
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From: Virginia
Would also check out AutoNation's Sell My Car bid, and they have a dealer right there in Bethesda that could confirm the value and drop it off with. On two recent cars, our BMW was highest through AutoNation (although I eventually got our Audi dealer to come up a bit higher), vs Carvana, Vroom and Carmax. And then with our Odyssey, Vroom ended up being the highest by a decent margin. Have noticed that Vroom also tends to dangle a $500 boost about a week after initial appraisal.
Pole Position
Joined: Jan 2020
Posts: 2,738
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From: CA
As a used car buyer, I wouldn't buy a car that has been in an accident. No matter how good a repair shop is, their paint will not age the same as the factory paint and become an eye-sore on an otherwise beautiful car. So for me, $2,400 is not enough compensation. On the other hand, if you are selling your vehicle to an uneducated/uncaring buyer, your repair is insignificant. So, it is a hard call to make until you have sold the car.
Consider the $2,400 as their opening offer. Counter them at $4K and see what they say. Maybe you settle at $3,200?
Consider the $2,400 as their opening offer. Counter them at $4K and see what they say. Maybe you settle at $3,200?
Thread Starter
Lexus Fanatic
Joined: May 2012
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From: Maryland
Honestly, $800 isn't worth the back and forth to me, the offer they made is fine, and I didn't expect to get anything so its all upside for me.
Lexus Fanatic
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From: Virginia/D.C. suburbs
Pole Position
Joined: Jan 2020
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From: CA
It has been the case in my experience, but I believe I keep vehicles much longer than you. Plus, having a formal education in art, my eye for value, chroma and hue is more keen than most. Judgements about the importance of re-paint work is personal. Most buyers couldn't care less, others like me, buy cars we hope will be worth keeping long term, so accident repairs significantly factor into my buying decision and what I'm willing to pay.
Thread Starter
Lexus Fanatic
Joined: May 2012
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From: Maryland
My 2003 ES300 had paintwork done over 10 years ago, I still have it and it looks just like the rest of the paint. Good paintwork, you're not going to be able to notice and the lifespan is going to be the same. I'm also EXTREMELY sensitive to that, which is why I waited over a month for the work to be done at the shop I chose while it could have been done in a week somewhere else. Paint is paint, and if its applied properly and finished properly, its going to last just as long.
This is one of the reasons why I buy new cars. But, if I knew what the repair was, and it was well documented and I could see the car I'm going to know if its going to be an issue or not. So, I wouldnt buy something that had been in an accident in a vacuum, but with all the documentation and if everything else checked out, I would.
For instance with this car, I have pictures and video and repair at the best shop in town and all the other maintenance and care thats gone into this car, I have all the service records, somebody would be crazy not to buy this car if it were available for sale because of this repair lol
This is one of the reasons why I buy new cars. But, if I knew what the repair was, and it was well documented and I could see the car I'm going to know if its going to be an issue or not. So, I wouldnt buy something that had been in an accident in a vacuum, but with all the documentation and if everything else checked out, I would.
For instance with this car, I have pictures and video and repair at the best shop in town and all the other maintenance and care thats gone into this car, I have all the service records, somebody would be crazy not to buy this car if it were available for sale because of this repair lol
Pole Position
Joined: Jan 2020
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From: CA
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Lexus Test Driver
Joined: Jan 2003
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From: Maryland
I’m pretty picky so if I was buying a car I wouldn’t want any aftermarket paintwork at all but if I did agree to buy one I would want a deal and definitely would want a discount vs the same car without the paintwork. That is basically where the diminished value comes in.
Thread Starter
Lexus Fanatic
Joined: May 2012
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From: Maryland
I'd have to see it to believe it. If you have a 10-year-old repair that still matches the factory paint perfectly, your a lucky man! I rarely see brand new repair work that matches the factory paint perfectly. I know it greatly depends on the painter, and some do better than others, but this is no easy task. Hang on to your paint-guy like a pit-bull on a postman's ankle!
Lexus Test Driver
Joined: Sep 2016
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From: PA
I'd have to see it to believe it. If you have a 10-year-old repair that still matches the factory paint perfectly, your a lucky man! I rarely see brand new repair work that matches the factory paint perfectly. I know it greatly depends on the painter, and some do better than others, but this is no easy task. Hang on to your paint-guy like a pit-bull on a postman's ankle!
Anyway I'd rather live with a small dent than to paint it (knock on wood no dents on our cars! and no bodywork either). but if a shade tree has access to the paint shop, they could do the $200k resto job, because it's their car, and they do care.
Thread Starter
Lexus Fanatic
Joined: May 2012
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From: Maryland
Again...my uncle in the business. It's not about what can be done.....because I told him when the weather is nice I see all kinds of brand new cars where the paint texture does not match even though the color is fine. He said, when a normal car, even a S Class or 7 series goes to a body shop, it's not the same as when you're watching TV and there's a $200k restoration. A leased S class absolutely can be painted like a $200k classic car, there's just no reason to. There's a trifecta going on--owner doesn't care, insurance doesn't care, lessor doesn't care. So why do it? Usually, customer wants the car back ASAP. Time is money. I don't know about right now, but normally, there's a wait to get body work done. So they have all the business they need.
Anyway I'd rather live with a small dent than to paint it (knock on wood no dents on our cars! and no bodywork either). but if a shade tree has access to the paint shop, they could do the $200k resto job, because it's their car, and they do care.
Anyway I'd rather live with a small dent than to paint it (knock on wood no dents on our cars! and no bodywork either). but if a shade tree has access to the paint shop, they could do the $200k resto job, because it's their car, and they do care.
Instructor
Joined: May 2012
Posts: 1,078
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From: FL
Any diminished value case I have handled or been involved in can be difficult to negotiate. Most times they would not accept mainstream sale prices. They required an expert be paid to generate a report. They can be very tough cases depending upon the insurance company. You have gotten this done very quickly. Sometimes these claims can take a VERY long time.
Lexus Champion
Joined: Oct 2019
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From: Ohio
I know that if you had a high end car, Porsche, Ferrari, that type, any time such vehicles change hands they're gonna go over it with a paint depth meter, and as soon as any body work is found, there will be a large deduction or many just don't even want the vehicle. But I don't think that's the case with a LS....I know when I owned a Porsche this happened, I had been hit from behind, and this kid hit the left quarter and gave the cops fake info. Wasn't anything I could do about it, one guy even told me to gtfoh, it was a Nissan dealership in Queens. I guess back then there was no carfax so when he asked me if it had ever been hit, I figured I'd just say no. I was young, what you gonna do?
Thread Starter
Lexus Fanatic
Joined: May 2012
Posts: 68,838
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From: Maryland
Any diminished value case I have handled or been involved in can be difficult to negotiate. Most times they would not accept mainstream sale prices. They required an expert be paid to generate a report. They can be very tough cases depending upon the insurance company. You have gotten this done very quickly. Sometimes these claims can take a VERY long time.