[Tyl3r]

This $5 paint chip repair just caused $5K in depreciation, assuming the 'accident' appears on CarFax reports.

I would call the insurance company and say it was all a misunderstanding.

[Nsxmatt]

Originally Posted by Tyl3r

This $5 paint chip repair just caused $5K in depreciation, assuming the 'accident' appears on CarFax reports.

I would call the insurance company and say it was all a misunderstanding.

LOL jesus Christ. You all exaggerate about stuff you know literally nothing about. There is no $5000 in depreciation. Good god people quit talking out of your behind.

[Tyl3r]

Originally Posted by Nsxmatt

LOL jesus Christ. You all exaggerate about stuff you know literally nothing about. There is no $5000 in depreciation. Good god people quit talking out of your behind.

A reported accident doesn't take 20% off the car's value? Please enlighten me.

[Burly]

Well I’ve only played phone tag with their insurance so far. I don’t plan on ever selling the car.

[Nsxmatt]

Originally Posted by Tyl3r

A reported accident doesn't take 20% off the car's value? Please enlighten me.

No. I've worked in dealers for over 20 years, no it does not. Most of the time it has absolutely zero to do with used car value. NADA black book doesn't even give you the option to adjust it. It's just a made up rumor usually by some dealers that use a carfax to offer you less on your trade and the suckers believe it.

Anyone that walks into a dealer and believes because they had $200 worth of damage their car is worth $5000 less now deserves to be screwed over.

[Tyl3r]

Originally Posted by Nsxmatt

No. I've worked in dealers for over 20 years, no it does not. Most of the time it has absolutely zero to do with used car value. NADA black book doesn't even give you the option to adjust it. It's just a made up rumor usually by some dealers that use a carfax to offer you less on your trade and the suckers believe it.

Anyone that walks into a dealer and believes because they had $200 worth of damage their car is worth $5000 less now deserves to be screwed over.

A car with a reported accident is NOT worth the same, regardless of how minor. You cannot convince the market otherwise. There is a reason some states REQUIRE insurance companies to pay out on 'Diminished Value'.

[Nsxmatt]

Originally Posted by Tyl3r

There is a reason some states REQUIRE insurance companies to pay out on 'Diminished Value'.

You're just full of false info. Some states ALLOW customers to apply for diminished value claims but it's not a law and the insurance company can refuse and you'd have to fight it.

Before you spout off more false info you know nothing about, do a little research first. You're the reason so much false info is spewed out on the forums.

[zx9rmal]

OP, now your car is really broken in. But seriously, you're lucky your car is white. You aren't gonna see it with a good touch up. Don't get too upset. There's gonna be more over time, especially if you are never selling the car. Good luck.

[50MileSmile]

GM does not offer prepainted parts like this - only some accessories - plus, you wouldn’t want a nonoriginal part on your car, would you? A good paintless dent removal shop will make this problem totally disappear for $60-$100.

[Tyl3r]

Originally Posted by Nsxmatt

You're just full of false info. Some states ALLOW customers to apply for diminished value claims but it's not a law and the insurance company can refuse and you'd have to fight it.

Before you spout off more false info you know nothing about, do a little research first. You're the reason so much false info is spewed out on the forums.

Please stop spreading false information. Some states require insurers to pay for depreciation caused by accidents. For example, MN is one of these states.

Ciresi v. Globe Rutgers Fire Ins. Co.
"holding plaintiff entitled to "depreciation" after repairs; "in determining [the vehicle's] value at the time of the theft, allowance must be made for depreciation then accrued." - Supreme Court of Minnesota

https://casetext.com/case/ciresi-v-g...rs-fire-ins-co

[Nsxmatt]

Originally Posted by Tyl3r

Please stop spreading false information. Some states require insurers to pay for depreciation caused by accidents. For example, MN is one of these states.

Ciresi v. Globe Rutgers Fire Ins. Co.
"holding plaintiff entitled to "depreciation" after repairs; "in determining [the vehicle's] value at the time of the theft, allowance must be made for depreciation then accrued." - Supreme Court of Minnesota

https://casetext.com/case/ciresi-v-g...rs-fire-ins-co

HAHAHA! You quoted a court case from 1932. Please stop.

[Tyl3r]

Originally Posted by Nsxmatt

HAHAHA! You quoted a court case from 1932. Please stop.

You obviously don't understand the law or precedent.

[VinnAY]

Originally Posted by 50MileSmile

GM does not offer prepainted parts like this - only some accessories - plus, you wouldn’t want a nonoriginal part on your car, would you? A good paintless dent removal shop will make this problem totally disappear for $60-$100.

...Door handle?? FFS.

[Chazzz]

Originally Posted by Nsxmatt

No. I've worked in dealers for over 20 years, no it does not. Most of the time it has absolutely zero to do with used car value. NADA black book doesn't even give you the option to adjust it. It's just a made up rumor usually by some dealers that use a carfax to offer you less on your trade and the suckers believe it.

Anyone that walks into a dealer and believes because they had $200 worth of damage their car is worth $5000 less now deserves to be screwed over.

In most cases it’s not the damage that will lower a used cars value but it’s the report. As long as there is no frame damage and the repair is made properly, if there is no insurance claim and it was paid out of pocket it will usually go unnoticed at trade in time. However, if there is a red flag on carfax or autocheck from a reported accident or insurance claim then count on a hit in value. One of the first questions asked on a used car appraisal is was there ever an insurance claim ....