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      11-18-2018, 01:42 PM   #1
SeattleJerez
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How much does an accident on the carfax effect the value?

I have a 2009 E92 in Jerez black. It already has 1 accident on the title - I have pictures of the accident; someone’s foot slipped off the gas and scratched the paint on my rear bumper. It shows up as an accident on my carfax.

Recently, my girlfriend parked it in an apartment complex and someone left a gnarly dent in my drivers side quarter panel. Couldn’t just have it pushed out. Has to get bondo’d, painted, cleared, blended; etc. The quote I got was $1,500.

My car as it stands has 57,000 miles on it, and is mostly stock except for vorsteiner VFF-101 wheels and a tasteful sub in the trunk in a custom enclosure. Blue book puts it at $25,000. Comparables in Seattle are priced around 27,000-28,000, but I assume with just 1 accident on the title, I could hope to get 25,000. I have a $500 insurance deductible and I’m on the fence as to whether I should pay the $1,500 to have the dent fixed, or pay $500 to have it fixed, but have it hit my deductible. Pictures of both accidents show that the accidents are strictly cosmetic, but 2 accidents on the title of an M3 doesn’t look good.

So my question is - what do you think? Is paying the extra $1,000 (difference between out of pocket or deductible) is worth keeping the accident off the title? I’m ready to get rid of the car, but am not in a huge hurry.

Thanks!
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      11-18-2018, 02:02 PM   #2
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In my experience whether you run it through insurance or pay it yourself has no effect on if it is reported to Car Fax. It depends more on the reporting policy of the shop.

Minor cosmetic damage has little to no effect on trade in value.

Two hits on your insurance may cost you more than the $1,000 extra out of pocket.
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      11-18-2018, 02:21 PM   #3
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The first wasn’t my fault, the second one will affect my insurance. Car fax pulls records from the insurance companies, not the shops. So if my insurance company pays for it, it hits the carfax.
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      11-18-2018, 02:55 PM   #4
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Not true. Some shops report directly to Car Fax.
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      11-18-2018, 02:57 PM   #5
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Take you M to Holman Auto Body. They do excellent work and are usually much cheaper than other shops. It is my go to shop for minor repairs. http://www.holmansbodyandfendershop.com/
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      11-18-2018, 10:52 PM   #6
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I would say the difference between one and two on a carfax is far less and 1 and zero.
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      11-19-2018, 07:55 AM   #7
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Quote:
Originally Posted by DanG View Post
Not true. Some shops report directly to Car Fax.
Yep, 100% accurate. repair facilities do report directly to carfax on occasion.
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      11-19-2018, 10:08 AM   #8
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I had this exact thing occur, if you are looking to actively sell it, then I would say pay the 1500 out of pocket. Dont let that small amount hit the carfax.
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      11-19-2018, 11:11 AM   #9
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Quote:
Originally Posted by DanG View Post
Not true. Some shops report directly to Car Fax.
I had two not-at-fault occassions where my old GLI received damage. Both were reported to the police and insurance company, but only one appeared on the CarFax.

Odd how inconsistent the reports are and I really question their merit. It's a good initial understanding, but there seems to always be more than the reports lead on.
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      11-20-2018, 04:08 PM   #10
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If you’re planning on selling it private party, I would file a claim (and keep copious records/photos of how minor). If you’re selling it to a dealer, then I would not file a claim. I figure a private party will discount this less than $1000 on a 10yr old car, but a dealer will want more than $1000 discount on a 2 accident car.

Before you make any decision I would also at least get a second quote from another body shop. Just to confirm the number as you’re in a tight range in terms of what makes financial sense.
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      11-20-2018, 10:58 PM   #11
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To answer your question, yes an accident on carfax will affect both trade in and resale value. Most insurance companies have diminished value to reflect this assuming you weren't at fault and can be compensated to account for this.

Many higher end cars either sell slowly or sell far below their value because an accident tarnishes the cars history..
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      11-23-2018, 03:03 PM   #12
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i would shop around. its incredible how much variations in body shop prices. i gotten my bumper painted for 250 before. if done through the insurance i gotten the same quote as 1200.
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      11-23-2018, 03:29 PM   #13
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Originally Posted by monterey View Post
i would shop around. its incredible how much variations in body shop prices. i gotten my bumper painted for 250 before. if done through the insurance i gotten the same quote as 1200.
Agreed. My second quote to "repair" my totaled M3 was about 500% higher than the initial.
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      11-24-2018, 07:54 PM   #14
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At the price differences you’re talking about, I’d just go the simpler insurance route. And I wouldn’t want to encourage someone to hide the fact a car was in an accident come sale time.
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      11-24-2018, 08:09 PM   #15
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If it was me, I would have insurance take care of it. But request that the entire quarter panel was replaced. Document the whole thing. No one wants a car with bondo.
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      11-26-2018, 04:15 AM   #16
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Bondo the quarter panel? Ouch.

Even if it doesn’t get reported anyone that knows what they are looking for will find all the filler on the QP and you’ll look like an assh*le if you try to not disclose it.
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      11-26-2018, 07:01 AM   #17
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I think if you document the damage it's not the end of the world because you've already got an accident on CarFax. I wouldn't buy a car with an accident report on it, but I suspect those who would, don't care if it's one or two, just document everything so they know there isn't frame damage or that airbags deployed.

But... Bondo? That's probably a deal breaker for anyone. Or should be, at least.
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      11-26-2018, 01:56 PM   #18
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You guys know that literally any paint work or panel replacement, no matter how well done will involve some amount of bondo, right? If you’re adamantly opposed to bondo of any sort, then you are adamantly opposed to a car that has had any repair work at all.

Also, fixing the panel in place usually going to be better than a quarter panel replacement. A new quarter means cutting the car apart, and on an E9x, there are some pretty obvious panel lines where this shows unless you get the overspray and seam sealer absolutely perfect. (Spoiler alert: You won’t.)

Without knowing the specifics of *this* panel damage, I would generally prefer a repaired original panel to one that has been replaced.

Of course, all things being equal, I’d prefer neither, but I would apply a bigger discount to a replaced quarter panel. The chances of uncovering a horror show in a car that has been cut apart are much greater than one that has not.
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      11-26-2018, 08:15 PM   #19
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Quote:
Originally Posted by nrubenstein View Post
You guys know that literally any paint work or panel replacement, no matter how well done will involve some amount of bondo, right? If you're adamantly opposed to bondo of any sort, then you are adamantly opposed to a car that has had any repair work at all.

Also, fixing the panel in place usually going to be better than a quarter panel replacement. A new quarter means cutting the car apart, and on an E9x, there are some pretty obvious panel lines where this shows unless you get the overspray and seam sealer absolutely perfect. (Spoiler alert: You won't.)

Without knowing the specifics of *this* panel damage, I would generally prefer a repaired original panel to one that has been replaced.

Of course, all things being equal, I'd prefer neither, but I would apply a bigger discount to a replaced quarter panel. The chances of uncovering a horror show in a car that has been cut apart are much greater than one that has not.
Okay- so I really didn't consider that pretty much anything on a unibody car's rear quarters may have Bondo as the alternative would be, as you said, a ton of unnecessary work.

That said- I wouldn't buy a car that's had body work done to the rear quarter panels or any work done to the frame.

That's my personal preference, and I'm willing to pay the premium to have my way.

That's not to say there isn't plenty of people comfortable with buying a car with body work. I'm obsessive. All that aside, I wish the OP if and when he decides to sell, the best of luck. I would still refrain from another hit in CarFax, if financially feasible.

Another option for the OP would be to never sell and begin to build an M collection. May I suggest and e39 M5 next?
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      11-27-2018, 09:07 AM   #20
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Quote:
Originally Posted by cjm41 View Post
Okay- so I really didn't consider that pretty much anything on a unibody car's rear quarters may have Bondo as the alternative would be, as you said, a ton of unnecessary work.

That said- I wouldn't buy a car that's had body work done to the rear quarter panels or any work done to the frame.

That's my personal preference, and I'm willing to pay the premium to have my way.

That's not to say there isn't plenty of people comfortable with buying a car with body work. I'm obsessive. All that aside, I wish the OP if and when he decides to sell, the best of luck. I would still refrain from another hit in CarFax, if financially feasible.

Another option for the OP would be to never sell and begin to build an M collection. May I suggest and e39 M5 next?
I’m certainly not going to argue with redlining rear quarter repaired cars. I generally avoid them too.

I only took issue with a bunch of folks arguing for quarter panel replacement. It is *hard* to do that. If the panel is repairable, it’s probably easier to repair in a way that both looks good *and* is more durable. And a well repaired panel likely doesn’t have significantly more filler than a replaced one.
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      11-27-2018, 09:09 AM   #21
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That said, to the OP: Your car already has a branded carfax. IMO, the people who were going to redline your car are already going to do it. I don’t think it really matters at this point as long as you can demonstrate that the damage was relatively minor.
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      11-28-2018, 11:53 PM   #22
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Unfortunately any accident reflected on the report will have a fairly significant impact on value. The story from everyone selling a car with an accident is always, "just a scuff, no structural damage, drives perfect".
Since you have pictures to back it up you might get someone to buy the car but any educated person is still going to pay way under market. Any educated buyer knows they can't resell the car for actual market value. Dealers will devalue the car significantly on trade as well, (then they'll be the same guys who try to price it near market with the quote above).
You should always try to get diminished value payments from insurance companies, especially if you weren't at fault. Now ethics aside (you can bash me as required) your option is to try and unload the car to someone who isn't educated on the process. I'm not sure how likely that is on an E9x M3 rather than a 2010 Kia Soul, but who knows. Good luck.
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