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Car accident cost appreciation

eagle_eye

Member
Jul 21, 2021
52
41
NYC
my ICE had an accident in the rear (needed a new bumper , 1 tail light, paint and dentless body work). Price of repairs was 2700 by the insurance company. When I get trade offers now they are about 3- 4k less than what I would get for a accident free car. So I would anticipate front and rear would drop price by 6 to 8 k easy. used car dealers have harder time selling cars with accident history.
 

zpaul

Member
Apr 23, 2021
290
213
Maryland
My Model Y, 2021 suffered a damage due to a front and back end collision. I wonder how much depreciation do one take in selling their Model Y with an accident history? How to find this difference in the price and how can I get it from insurance company? Anyone like to share?
You can quote Carvana, Carmax, and others without indicating damage and with indicating damage. See what they offer.
Though market is crazy and you may not see a huge hit.
Other option is to pay companies that offer estimates on diminished value. $100-300 for estimate. And you provide them with detailed list of damages and repairs.
You can also notify the other party insurance that you are planning to claim diminished value. Some insurance companies are easy to deal with and they will easily compensate you for that. Others will ask you to provide professional estimate and will try not to pay you, which again you can ask them to provide refusal in writing so you can sue the person who they insured. Usually that changes their mind.
 
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