How much is minor accident worth?

[Rassilon]

Hi guys,

I am looking at a car that has been in a minor accident, everything else looks good, so I am curious how much is minor accident worth in terms of drop in value? I pulled the police report and it was a left rear end during a 2-lane left turn. The damaged was 500 and speed was 15mph on the police report. The car did drive away. Thanks.

[Honda]

damage is 500? thats probably for the bumper. It will not lose alot of value but it wouldn't be the same value as the one that is not reported in accident.

[Rassilon]

Thank you! So I guess I should try negotiate to retail-$1000?

[Tuscan]

It's going to be very hard to sell the car later. Unless you are planning to keep it for long years I would pass.

[s85e90]

Originally Posted by Tuscan

It's going to be very hard to sell the car later. Unless you are planning to keep it for long years I would pass.

Says who? It's a 500 repair/

[Tuscan]

It's on the carfax already. Doesn't matter if it's 500 or 2000. I wouldn't buy it when there are so many other options.

[Rassilon]

I live in Seattle where there aren't many m3s around, so I would like to give it a shot to see if the dealer is willing to compensate for the drop in resale value. So I am curious how much discount will you guys take off retail. BTW, even though the accident shows up on Carfax, Carfax still believes the car is above book value for some reason.

[s85e90]

Originally Posted by Tuscan

It's on the carfax already. Doesn't matter if it's 500 or 2000. I wouldn't buy it when there are so many other options.

No offense but that's just ignorant to pass on something that may be a good deal. These cars are limited too. Maybe e92, but e90 are rare. I also am very mechanically inclined and have worked in the collision industry before and wouldn't worry too much about non-structural repairs.

[s85e90]

Originally Posted by edwardgtxy

I live in Seattle where there aren't many m3s around, so I would like to give it a shot to see if the dealer is willing to compensate for the drop in resale value. So I am curious how much discount will you guys take off retail. BTW, even though the accident shows up on Carfax, Carfax still believes the car is above book value for some reason.

Do your research and see whats' fair. If it's 500, that's a good # to offer less. Have you ever bought a car before? It's not rocket science to negotiate. Someone's advice here may be no better than your own instinct.

[Tuscan]

Originally Posted by edwardgtxy

I live in Seattle where there aren't many m3s around, so I would like to give it a shot to see if the dealer is willing to compensate for the drop in resale value. So I am curious how much discount will you guys take off retail. BTW, even though the accident shows up on Carfax, Carfax still believes the car is above book value for some reason.

If you really want to buy that car I would say, offering 3k less than its market value sounds fair. Good luck and hope you enjoy your new car.

[Tuscan]

Originally Posted by s85e90

No offense but that's just ignorant to pass on something that may be a good deal. These cars are limited too. Maybe e92, but e90 are rare. I also am very mechanically inclined and have worked in the collision industry before and wouldn't worry too much about non-structural repairs.

Ignorant?

OP didn't state that he is getting a good deal because the car was involved in an accident so I suggested him, if he could find a similar car with clean history he should buy that. If he gets a significant discount then he can buy that particular car.

I'm not saying that the car has structural damage. The history will make the sale harder when he wants to sell it later on. Of course people will buy and sell cars with accident histories but it takes more time.

This is a luxury purchase not a necessity, if you spend more time now you will have less headache later.

[Honda]

Originally Posted by Tuscan

Ignorant?

OP didn't state that he is getting a good deal because the car was involved in an accident so I suggested him, if he could find a similar car with clean history he should buy that. If he gets a significant discount then he can buy that particular car.

I'm not saying that the car has structural damage. The history will make the sale harder when he wants to sell it later on. Of course people will buy and sell cars with accident histories but it takes more time.

This is a luxury purchase not a necessity, if you spend more time now you will have less headache later.

That's not true. The car has only 500 damage which is nothing man. May people repairs the bumper or do any work on it but it is not reported to Carfax. It doesn't make the car bad to buy. Many people including myself would buy this car. It will be few hundreds below KBB but not thousands.

[Rassilon]

Originally Posted by s85e90

Do your research and see whats' fair. If it's 500, that's a good # to offer less. Have you ever bought a car before? It's not rocket science to negotiate. Someone's advice here may be no better than your own instinct.

Thank you. I have bought a few used car cars before, but not any that is this expensive. I am used to dealing with private owners, not some used luxury car dealership who buy cars from auction in batch and flip them.

[Rassilon]

Originally Posted by e90-335i

That's not true. The car has only 500 damage which is nothing man. May people repairs the bumper or do any work on it but it is not reported to Carfax. It doesn't make the car bad to buy. Many people including myself would buy this car. It will be few hundreds below KBB but not thousands.

Makes sense. I will visit the dealership again this weekend to see how they feel about the accident.