I am asking because I was rear-ended this AM (will update with a pics. or two when I get a chance)

The drivers side rear quarter panel and bumper cover are non-existent, trunk is bent and sprung up about 1/2 inch, drivers side rear wheel orientation has been tweaked (assume the control arms are bent forward), drives side door has a 1/4" gap at bottom and no gap at the top, RM Racing exhaust is in multiple smashed pieces, and my trunk well is tweaked.

Assuming that there is some structural damage (bent frame/uni-body), etc.. If the car is repaired using all new OEM components, the workmanship is top notch, and there are no traces of an accident and everything is straightened to perfection - is there still an "automatic" devaluation just because of the accident (due to carfax reports, etc..)

Just Wondering - William

 

yes. it's called "dimished value". many states recognize it as part of the claim. in virginia, you may recover for dimished value. it requires a qualified appraisal as to the value of the vehicle immediately before the accident and then following the repair.

often it does not require an actual appraisal... just being really tough with the insurer. the damage in your acciednt sounds pretty substantial... maybe $4 to 5K. my out-of-the-blue-sky/unprofessional guess is that your car will be worth $1.5 to 2K less than a comparable (unrepaired, unblemished carfax) vehicle.

best of luck to you.

 

yes - ask for / search for dimished value

the accident will allways show up on a carfax

i found this out when i traded in my Lexus sc400 for the s2k

 

what he said

 

This is completely false. Very few (non-total loss) accidents actually show up on carfax, nor does carfax make the claim that they do.

My previous car was in a major accident and ended up being a few hundred dollars short of a total loss. Despite being reported to the police, insurance company, etc. it never showed up on carfax.

-Nick

 

Unfortunately Arizona is one of the states that have sided with the insurance companies on the "diminished value" subject.

I am not worried that the car will be OK following repair. However, it is a lease vehicle and the lease company may have an issue with it.

 

why would the lease company have a problem with it? presumably, you have kept the appropriate level of auto coverage and will have the car repaired to a "workmanlike" standard, by a professional auto body shop... so you're not going to be "on the hook" for any change in valuation.

however, in the event of a toal loss, where the lessee doesn't have GAP coverage, then the lessee will be on the hook for the difference between the insurance payout and the current lease balance.

i don't hink that you have anything to worry about. i would seek out opinions from your local s2ki'ers as to which body shops are the "best" at working on the S. i wouldn't, not even on a dare, use the shop that your insurer suggests.

 

Yeah, I think being in a lease is actually the best case scenario for an accident as the residual value has already been set when you signed your lease. As long as the repairs have been done well, you should be able to go on as if nothing happend as far as your concerned. The dealership you send the car back to will have to eat the loss due to the accident when they try to sell it.

 

I only go to one bodyshop. I typically have to argue with the insurance company on the repair price, but the work is first rate.

I agree, never go to the Maaco shop the insurance company sends you to.

I agree with the lease/accident scenario - unless you plan to buy the car at EOL

I wonder what the lease company would think about a color change?

 

I can't believe nobody's asked the most pertinent question yet. Was there a driver's side 8" sub enclosure and if so, how did it fare?

ron