After an accident, you may be concerned that your vehicle will not be worth as much after it is repaired. Even a minor accident can require body work and other repairs, but that does not necessarily mean that the value of your vehicle will drop. There are many factors to take into consideration regarding car value.
Damage Can Lower Value
Most experts will tell you that a car that has been damaged is worth less than the same car without any damage. Some claim that the car loses as much as 33 percent of its value if it has required repair work after an accident. However, this figure does not take into consideration the mileage of the car when you trade it in, the options you may have installed in the vehicle or many other things that can add to a vehicle’s value.
Choose a Good Repair Shop
A good repair shop may be able to fix the damage so well even an appraiser will not notice. There are also methods for repairing vehicles today, like paintless dent repair, that allow technicians to repair your vehicle with no need for body filler or painting. This means that the repair may be virtually undetectable when you trade it in.
However, it is important to note that almost every car now has what is known as a vehicle report that may show that the vehicle was involved in an accident. If your dealer uses one of these reports, it is likely your repairs will be discovered.
Trading to a Dealer
If you are trading your vehicle in at a dealership, there are a few things you need to know. Any vehicle with less than 30,000 miles without damage will receive the highest offer from a dealer, especially if it has the look that buyers want at the time. The dealer can detail the car and place it on their own lot. Cars with 30,000 to 65,000 miles with no damage will receive a higher offer than a car with the same mileage that has accident damage unless the damage is virtually undetectable.
Dealers sometimes put these cars on their used lots, but often auction or wholesale them. Damage in cars with more than 65,000 miles may not have much impact on how much a dealer offers as they are more than likely going straight to auction or wholesale. Therefore, the older your vehicle is and the more mileage you have on it, the less likely damage from an accident will have much impact on what a dealer offers toward trade-in.
One way to avoid losing money due to damage is to sell the car yourself. The person who purchases your car may not mind that it has damage that has been repaired. It is wise to inform the buyer of any car damage as vehicle reports are available online to anyone who wishes to purchase them. If there was an insurance claim or a police report filed, it will appear in the vehicle report. The report may even note any significant damage.
The main key to minimizing the loss that can be caused when your vehicle has been repaired after an accident is to choose a good repair shop to do the work.
Elmer’s Auto Body can return your car to its original condition and get you back on the road quickly. If the damage is relatively minor, we may be able to use paintless dent repair technology which is virtually undetectable. Schedule an appointment today by calling or completing the easy form online.