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      07-11-2016, 09:44 PM   #1
OhGreg
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Keyed m3 help

So I was about to buy a car in NY and it got keyed... Is it still worth buying? The insurance is going to cover the paint but what should I expect on the value of the car when I go to resell ect. ? What percentage should I lower my offer now? Should I still go through with it? Thanks in advance
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      07-11-2016, 10:03 PM   #2
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If you're buying a car and already thinking of selling it, I don't think you're buying it for the right reasons.

Having said that, if you document the incident well, and get a written statement by the seller, it's pretty much a non issue. And potential buyers won't be scared by a <$2000 claim, as they'll know how much it costs to fix this car and they'll know $2000 is nothing.
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      07-11-2016, 10:10 PM   #3
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Thank you for the quick response JFB! That sounds reasonable. I plan on keeping the car for a long time I just want to consider all things when buying the car. What's a reasonable amount to deduct from his selling price?
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      07-11-2016, 10:15 PM   #4
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couple hundred at most ?
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      07-11-2016, 10:25 PM   #5
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Personally, I'd walk. Unless it's a unicorn combination, why deal with it?
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      07-11-2016, 11:18 PM   #6
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Cost me $1200 for getting a ~2 ft long scratch on the left two doors. $200 won't cut it if you want to restore the paintwork to original level.
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      07-11-2016, 11:30 PM   #7
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Quote:
Originally Posted by Gesler View Post
Cost me $1200 for getting a ~2 ft long scratch on the left two doors. $200 won't cut it if you want to restore the paintwork to original level.
it will if they are going through insurance like its stated above.
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      07-12-2016, 02:19 AM   #8
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It all depends on the paint job. If they blend it correctly it shouldn't effect resale.
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      07-12-2016, 07:05 AM   #9
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If the paint work is good, I don't think you could deduct from the price. Vehicle value won't be affected by cosmetic repairs.
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      07-12-2016, 07:30 AM   #10
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Quote:
Originally Posted by JFB View Post
If you're buying a car and already thinking of selling it, I don't think you're buying it for the right reasons.

Having said that, if you document the incident well, and get a written statement by the seller, it's pretty much a non issue. And potential buyers won't be scared by a <$2000 claim, as they'll know how much it costs to fix this car and they'll know $2000 is nothing.
We need pics ,before I/we can share our thoughts..
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      07-12-2016, 10:01 AM   #11
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This thread doesn't make much in the way of sense
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      07-12-2016, 01:41 PM   #12
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This thread doesn't make much in the way of sense
Why is that? He asked a valid question. At least his question is a bit more interesting than the extended warranties and rod bearing threads we have on this forum.

When I buy a car, I always make sure it wont give me problems when selling it. Yes, I am not putting the money on appreciating investment however, I am also not looking to dump money on something that will depreciate faster than what the market price goes for
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      07-12-2016, 01:45 PM   #13
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It's a used car, and not a one-year-old one. All cars will have their share of dings, scratches, and rock chips. Some will have been in minor fender benders or whatever. Are you guys really saying that if someone had a bumper resprayed because someone bumped into it that you wouldn't buy the car?

The chances of finding a truly "original" car are getting slimmer and slimmer by the day. People need to be realistic.

Guess what...my 2011 is all-original paint but had some dents pulled out of a door and the windshield replaced. It has a few rock chips and such because I actually drive it. I'm not losing sleep over some potentially "lost value" whenever I sell it. I suspect that the next owner will not care.

If the paint work is done well, I say buy it. Very few people will care about this when you go to sell it.
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      07-12-2016, 02:25 PM   #14
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Quote:
Originally Posted by Bimmer-M3 View Post
Why is that? He asked a valid question. At least his question is a bit more interesting than the extended warranties and rod bearing threads we have on this forum.

When I buy a car, I always make sure it wont give me problems when selling it. Yes, I am not putting the money on appreciating investment however, I am also not looking to dump money on something that will depreciate faster than what the market price goes for
I guess I just don't understand the situation fully, but from what it sounds like, the OP was going to look at a car (deciding if he wanted to buy it) and before he could get to it someone keyed it. He states insurance is covering the damage (presumably the current owner's insurance) and wants to know how much money he can knock off the purchase price because of the damage? If I got that right, that just doesn't sound right to me. It sounds as though OP is more concerned with "how much more can I talk this guy down to take advantage of him" than "well, the car has damage and will need to be repaired now, which diminishes the value. I should get the car for less since it's worth less".

OP: Being keyed, and subsequently repaired via insurance isn't going to diminish the value of the car. Go look at it, and if you like it, have the seller get it fixed, fork over his asking price and stop trying to low ball and get shit for as cheap as you possibly can. You either like the car or you don't, there is no need to try to get a good deal at someone else' expense or misfortune. Situations like this are the reason the value of these cars are tanking and any Tom, Dick or Harry can afford one nowadays.
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      07-12-2016, 06:12 PM   #15
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OP, a picture is indeed worth a thousand words, especially in this case. We could accurately determine if its 2 inch keying or 3 foot or more keying.
If it's the former, it's probably not going to affect resale values. If it's the latter, depending on the work, it could affect resale. Given the plethora of used M3's that we're seeing for sale now, unless it's a true unicorn with everything you're looking for, I'd walk and find another...but that's because I'm super choosy on what garage queen I'm going to worship
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      07-12-2016, 08:04 PM   #16
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Quote:
Originally Posted by Bimmer-M3 View Post
Why is that? He asked a valid question. At least his question is a bit more interesting than the extended warranties and rod bearing threads we have on this forum.

When I buy a car, I always make sure it wont give me problems when selling it. Yes, I am not putting the money on appreciating investment however, I am also not looking to dump money on something that will depreciate faster than what the market price goes for
This^

All I am trying to figure out is whether or not when the time comes, after I have enjoyed the car, if I will take a hit on the car because of this incident... If I am going to take a hit down the road I want to factor that into my offer. This is all I am trying to solve. I'm not trying to lowball the guy and take advantage of him. It sounds like I will not be taking a hit down the road so I will stick with my original offer and hopefully be getting into my first ever m3!!! That being said thank you everyone for the feedback! Side note: The owner is getting the car fixed at a reputable dealer that does flawless work
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      07-12-2016, 09:05 PM   #17
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Quote:
Originally Posted by OhGreg View Post
This^

All I am trying to figure out is whether or not when the time comes, after I have enjoyed the car, if I will take a hit on the car because of this incident... If I am going to take a hit down the road I want to factor that into my offer. This is all I am trying to solve. I'm not trying to lowball the guy and take advantage of him. It sounds like I will not be taking a hit down the road so I will stick with my original offer and hopefully be getting into my first ever m3!!! That being said thank you everyone for the feedback! Side note: The owner is getting the car fixed at a reputable dealer that does flawless work
You won't see any affect on value because the car was keyed. Period.
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      07-13-2016, 12:34 AM   #18
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I don't think it will affect resale. The cost to you or the seller will depend on the deductible. There is no difference in how it looks after repair when compared to before damage. It's ultimately just the paint, unlike say the damage that occurs from an accident. I'd expect this type of damage would make buyers leery.
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