My thoughts are accidents greatly affect selling prices on cars...I see on my other forum the discussion of "diminished value" and they go after the person at fault. I know on this sub forum, we always seem to discuss southern cars, 1 or 2 owner, no accidents.....and cars of this vintage are old enough to have had accidents and they are not on the Carfax, so that is no guarantee....my .02.....it would be good for the other party to pay the diminished value claim...the idea is that the victim is made whole....

http://www.carinsurance.com/Articles...lue-claim.aspx

 

Thank you for some excellent ideas! I try to talk about this stuff with my wife and she usually leaves the room... I will photograph the car while it's on the rack at the shop and document it as much as possible with photos.

I am not sure if it will show as frame damage on a CarFax, but I have seen cars listed with a CarFax report, and frame damage comes up as a big, nasty 'X'. I have a little time to make up my mind about trading it, but that might be the best bet.

I'll speak to my attorney later today and ask him about penning a letter to the other party's insurance company for diminished value due to the frame damage.

Thank again!

Best,

Rick

 

I turned down a nice 04 because it showed an accident. Without pictures (or info) it's impossible to tell if minor cosmetic or major. Well CarFax does post (sometimes) if it gets reported. Knowing if airbags did/did not deploy helpful. On my 01, seller didn't reveal accident and frame repair. Found that on Lexus Drivers. Still drove perfectly and was the most reliable of the 3 I've owned (so far). Would I consider one now that had been in an accident? Even w/ pictures? Doubtful. Maybe if the damage was minor and the price was a deal.

 

You can sometimes get a few grand for diminished value. Don try and do it yourself though. Go through someone that specializes in diminished value. I have done it with any car that had an accident that was not my fault. The other insurance will request an expert come out and appraise value. You can provide comps for non accident and accident cars. One HUGE factor is age of the vehicle. After a car is 7+ years old the payout for diminished value is greatly reduced. With a car your age it may be tough to get much, but the low miles may play a factor. However, it is worth a shot. The other thing I always kept in mind was if I planned on driving the car a while then I just drove it accident or not. In another few years the car will be even older. Accident or not a 15+ year old LS with 100K+ miles on it is only going to be worth so much accident history or not. Good luck with your repairs. Accidents suck but glad you are ok.

 

Take it from an expert, your car has lost approximately 40% of it's trade-in value prior to the accident. It is the structural damage that makes the loss of value so high, no Lexus dealer will put it on the lot, instead they will send it right to auction.

 

Thank you for your input, but I have a question; how did I lose 40% of my trade in value before the accident?

 

i dont get it either.I am guessing he meant after the crash?

 

i'm assuming that's what he meant as well. I have decided that I am going to part with the car as soon as I get it back. I've talked to a few dealers about trading it and no one had any problem taking it on trade after they look at it. I truly despise selling used cars privately, so trading it is going to be my method of disposal.
I'm sure the value I get on a trade will vary with my choice of replacement vehicle.
and so the search begins...
I really want to thank everyone for their opinions and input. There's a lot of wisdom on this forum and it's greatly appreciated.
thank you all!

 

i hear you on the selling privately.i have sold several over the years and only sold solid cars and traded in any cars that had issues.
what might you be looking at to replace you 430?I often wonder what it would get to replace mine if i had too.
i am waiting for the c7 corvette to get into the upper $30k price point.dont have any kids to have a back seat anymore

 

I will admit I have met some genuinely nice, sincere, buyers selling used cars, bikes and boats, but overall, it's a lot of time dealing with difficult people.

And I hope you approve of my vehicle replacement choice; 2008 MBZ CLK 550, Cabriolet. Complete 180 to say the least! It's a true four seater Fourseason convertible with a little under 400 hp a seven speed with paddle shifters and realistically all of the technology I need for right now in my life !! I have a new wife and two little girls and I think we're going to enjoy the hell out of it ! What do you think?😎

 

Good luck on finding something to fill the shoes of the LS430.

 

Well, it looks like you found it!

 

very nice choice and a convertible to boot!When you get it post some pictures and the best of luck finding a good one, Jim

 

Very true. The LS is a lot of automobile at a great price point, that looks contemporary at 14 years old. Not many on the market that fills all those bills.

 

If it is fixed to look good and you like the car, its got at least 15 more years in it. So keep it and drive till it falls. You dont care if it has frame damage! BTW, if its not your fault you should be able to MAKE the other insurance company PAYfor full restoration.