So my car is in the shop getting repaired and tomorrow I have to go file an SR1 with the state of California DMV to report the accident with them. It dawned on me that any future potential buyer will run a carfax against my VIN and see that it was in a accident and repaired, not that I wouldn't tell them. This would hurt any car's value, but as a Saleen, and a rare speciality and/or collector car, this would hurt even more. I'm sure I'm entitled to compensation for the loss in value because of this, but what would that be or how would I go about coming up with a number that's fair? Any suggestions?
im not sure i can help you out with the valuation part but... I would take a lot of photos of the damage, then if youre having the car repaired at a shop, give then one of those disposable cameras and ask them nicely to take pictures along the way... it may make it easier to sell if you can show a prospective buyer the damage and that the repair was done profesionally... especially if its only a light damage repair... they may run the report, see and accident file and think its been almost totalled !!! showing them picture of a dent in the door/fender may help the sale.. EDGE
You can always use an independant appraiser to give you an approximate value of the car in the post-accident condition. Cost approx $300.00 bucks though, and the buyer may not even read the report. My buddy used one of those guys when he recked his NSX, very thorough report.
Here is the website website: www.autoappraisal.com Just another tool to impress upon the buyer that the car still has strong value, even when taking the accident into account.
Nice, thank you. This is to impress upon the other guy's insurance company that my car has loss value due to his carelessness. I'm not selling the car anytime soon but should I choose to I shouldn't have to take the financial hit, they should. Thanks again.
Depends on two things: 1. Is the car a "TRUE" collectable car? And how do you know? 2. How bad was the damage - if it was a dent in the front fender, a new one can be painted and bolted on and and it would not affect anything at all. Anything that can be bolted on or easily replaced will do no harm. If it was something like a rocker panel under the door and a rear quarter panel, undercarriage damage or some piece that has to be "hand-crafted" in some aspect - it will definately devalue the car some - even if it is done properly. If the car is a true collectable, a more serious repair done right will not matter much. If it is just a "cool" car so to speak that there is not a large demand for, there will be some de-value on a serious repair. The only thing that may tell the tale at the end of the day is if there are literally thousands of collectors wanting and fighting for your car's spec and series - this would define a collectable car. If your car is a TRUE collectable, a serious repair will bother you, but will not bother the collectors who want that car if it is done right. In my professional opinoin, there are only a few really collectable Saleen's that may potentially be worth tons of money whether the car has lots of miles or barely any (as long as they are in excellent condition). The S351, the first Saleen in 84, the SSC, and a few others that have RICH history (Tim Allen's 500HP Fox Body car), POSSIBLY the SA series. After that, it does not look that great for major collectablility. Most other Saleens will hit a price point and hold it, as long as the car is in excellent condition needing no repairs. Keep in mind, if you are willing to take the chance, you will have to hold onto your car for another 10 - 20 years without needing money or more space that the Saleen is taking up. 10 - 20 years is a LONG time!
Thank you for the response. I think my car is collectable or at least rare. Its an E. 54 produced in 2002 and less then 100 new edge E's exist. There are fewer E cars then S351 and Saleen Cobras, althought that might change with the new E cars being produced. And while the E isn't viewed in the same class as the S351 now, perhaps in the future it will be. So I think they will be very collectable in the future, but I guess time will tell. Rare or no, I've modded my car to make it my own and the way that I want it. Despite that, if through someone else carelessness my car is damaged and it now has a "history" which will show up on a carfax report and might make people think twice about buying it, I feel I should be compensated for the devaluation. People are generally leary of a previously wreaked car. That is just a fact of life and the whole reason carfax exist, which will hurt me in the future. I shouldn't lose on the value of my car because of someone elses carelessness, whether I drive a 67 GT500, an 02 S281E, or 78 Datsun B210.
