I own a 2013 G37 sport coupe and recently got hit in the rear driver side quarter panel and bumper. Insurance is going to fix it (~$2000), but how much value did I just lose?

 

As long as there's no frame/internal damage I don't see why you would lose any value...maybe even an increase with the new exterior parts.

 

If the cops were called then it will show on Car Fax too. When i traded my G35 a while back when they asked about a wreck i told them someone had backed into me and their first question was were teh police called. Goes to show Carfax isnt 100% your car is untouched. Helps but still...

 

You should absolutely get a diminished value. You will file it against his insurance company. They will fight you on it, but the time will be worth it. I would get your car apprised by a number of dealers(carmax, infiniti) and get the net loss compared to undamaged vehicles. I am getting a diminished value on my vehicle when I was rear ended(caused 7k in damages). However a lawyer is obtaining it for me since there was medical also involved.

Some will tell you its not possible or necessary to obtain. I think its 100% necessary. Think about when you go to purchase a vehicle. If you see an accident on the carfax you will look elsewhere, thus lowering the overall value of the vehicle.

 

Yes there is a loss, prob about the 2000, but I'm not an appraiser or adjuster, just going off of what I have seen at my dealership with trades.

Any accident reported to carfax or autocheck will bring down the value, the worst part is, those services do not say what type of accident or minor or major. I was in an accident (small fender bender) when I first got my car. Backed into my friends car, I decided to pay for the damages out of pocket instead of having it show up on my car's record. To say exactly how it affects the value is tough, I thin kit's subjective, you will always get more selling it privately especially if there is an accident.

Now, if the airbags went off....the value goes down tremendously. I hope they didn't

But to answer your question, any and every accident that is on carfax or autocheck will bring down the value of your car, how much is hard to say, but if you can pay damages out of your own pocket, after deductible (if applicable) and value loss, sometimes it's cheaper in the long run

 

dholmblad, I didn't know you could do that, if the accident on my Infiniti wasn't my fault I would have done that and will do that in the future

 

Have to agree, had a similar loss in value never recovered.

 

Definitely lost value. As a rebuilt vehicle buyer/owner, you lost much more than $2k in value. Take LOTS of before pictures (before repairs) so you can show a potential buyer how minor the damage was and that no engine/frame damage would have been possible.

 

Diminished value is not available in every state, in terms of legal/insurance recourse. But yes, anything like that appearing on Carfax will hurt your resale value measurably.

 

One of my friends has an account with carfax and he checked my brothers carfax and it showed as being clear of accidents which we know is a lie because he's been in at least 3

 

Thanks for the input everyone. Who reports these accidents/repairs to carfax? Looks like some people have a clean record despite being in collisions.

 

Ya, carfax is a junk in junk out system, it's not fool proof. Was all 3 of his accidents reported to insurance? If you just get them fixed at a body shop and don't call insurance most likely it will not show up.

I had a used vehicle for sale with less than 15,000 miles on it, according to carfax it had gotten new tires every 3,000 miles, but the original tires were still on it. That made the customer a little uneasy, but they still bought it

 

Don't know how it is that everybody doesn't know about diminished value by now. Infiniti with prior repairs (bad Carfax) = big time DV even with minimal damage. Here's a good Q&A AUTOMOBILE DIMINISHED VALUE APPRAISER IN ALL 50 STATES My opinion as not an expert is that you lost $5K or more. Just ask the pre-owned manager at your dealership.

 

Doesn't matter; you can usually spot repainting unless it was done really well.

I cannot imagine your brother's car not showing signs that it had been repaired...