Loss of value indimity
09-27-2023, 01:54 PM
#1
Heel & Toe
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Loss of value indimity
I own a 2016 Z06. Over the coarse of past 9 months my car has been hit twice on two separate occasions by two different people. Both times the car was parked in a public place with no one inside the car.I was thankful that both times the other drivers did provide me with thier insurance information. There was about 5000 of damage for each hit which was only minor.my car is fixed and back to looking great however i am thinking of trading it in for a suv. Their dealership said that due to the two incidents that is showing up on your car max report they could only offer me 40,000. The car has four brand new tires. The inside and out is like new. I have all my service records and also any repairs or recalls that were performed on the vehicle. The car has 80,000miles
09-27-2023, 03:41 PM
#4
Team Owner
Two hits on Carmax and 80k miles best to go with a private sale.
09-27-2023, 06:04 PM
#5
Drifting
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Agree - with private sale, you can explain that the two Carfax reports were due to cosmetics only and that they are fully repaired.
Carfax (Carmax is the used car buy/sell place - I think you are referring to Carfax, the car repair/accident report tracker) just reports what the insurance companies provide.
Your dealer sees two accidents and 80k miles (not really high for a seven-year-old car, but Corvettes take a mileage hit more than most cars) and plug that into their value calculator. Going from 40k miles to 80k miles decreases the value by $8,000 to $10,000.
A good ad on AutoTrader, Facebook, or this Corvette forum with lots of quality pictures and a detailed description about the repairs will get you more money for your car. I think private party sale would be in the low $50s depending on condition and options (manual vs. auto, LZ1, 2, or 3, color, type of new tires, etc.).
Jim
Carfax (Carmax is the used car buy/sell place - I think you are referring to Carfax, the car repair/accident report tracker) just reports what the insurance companies provide.
Your dealer sees two accidents and 80k miles (not really high for a seven-year-old car, but Corvettes take a mileage hit more than most cars) and plug that into their value calculator. Going from 40k miles to 80k miles decreases the value by $8,000 to $10,000.
A good ad on AutoTrader, Facebook, or this Corvette forum with lots of quality pictures and a detailed description about the repairs will get you more money for your car. I think private party sale would be in the low $50s depending on condition and options (manual vs. auto, LZ1, 2, or 3, color, type of new tires, etc.).
Jim
Last edited by Carnac; 09-27-2023 at 06:22 PM.
09-29-2023, 07:51 AM
#6
Did you get paid for the diminished resale value from each of those accidents?
09-29-2023, 12:00 PM
#7
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If you love the car and you didn't buy it to flip it, who care about resale?
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