accident damage
Thread Starter
2nd Gear
Joined: Apr 2018
Posts: 2
Likes: 0
accident damage
I purchased a C4 corvette last summer, My first. Corvette, Its a 1996 base coupe with 21250 original, accident free miles, and its a beauty. last Tuesday a woman backed into my left rear wheel well. The impact caused 2 cracks abut 2inches long, thru the fiberglass. The cracks are at the 10:00 and 2:00 position. The woman has claimed responsibility and turned it over to her insurance. I have taken my car to a Corvette recommended body shop in Las Vegas. I am waiting for the adjuster to appraise the damage.
My question is how much will this accident impact the long term collectors value of this vehicle. I know C4's are presently low on the collector value, but like anything, things go up with time. My 1996 is the last of the C4's. Any input would be of great value when dealing with the insurance company. They will only want to fix the car period. with no thought of the long term affect an accident will have on this vehicles value.
Thanks for any input you may have
Ken in Las Vegas
My question is how much will this accident impact the long term collectors value of this vehicle. I know C4's are presently low on the collector value, but like anything, things go up with time. My 1996 is the last of the C4's. Any input would be of great value when dealing with the insurance company. They will only want to fix the car period. with no thought of the long term affect an accident will have on this vehicles value.
Thanks for any input you may have
Ken in Las Vegas
Le Mans Master
Joined: Feb 2000
Posts: 9,061
Likes: 214
From: Epping NH
If you took it to a Vette recommended shop then the car will be fine and as good as new...the fender bender will have minimal if any affect or resale value.
Just remember it was her fault, don't let her insurance company tried to get it fixed on the cheap, any professional competent body shop will work with you to make sure it's fixed right!
Thread Starter
2nd Gear
Joined: Apr 2018
Posts: 2
Likes: 0
Thanks
With 21K on the clock and being a base coupe you're not going see much in the way of "collectors value" unless it was a 96 GS. Over time attrition of the C4 in general will let prices start to appreciate but not the a level of anything significant. Just drive it and enjoy it, rather have 100K of smile filled driving, then 20k of sitting in a garage!
If you took it to a Vette recommended shop then the car will be fine and as good as new...the fender bender will have minimal if any affect or resale value.
Just remember it was her fault, don't let her insurance company tried to get it fixed on the cheap, any professional competent body shop will work with you to make sure it's fixed right!
If you took it to a Vette recommended shop then the car will be fine and as good as new...the fender bender will have minimal if any affect or resale value.
Just remember it was her fault, don't let her insurance company tried to get it fixed on the cheap, any professional competent body shop will work with you to make sure it's fixed right!
Pro
Joined: Jan 2003
Posts: 706
Likes: 47
From: Denver Colorado
As long as the damage is fixed right by a competent shop, you will be fine. Shouldn't deeply impact the value. Depending on the Corvette's color, the paint repair may be the most difficult thing as some of the colors (Sebring Silver for example) are a challenge to match and the rear quarters are one big expanse of material..
Instructor
Joined: Aug 2016
Posts: 120
Likes: 11
Welcome from another Vegas C4 owner. Sorry to hear about the accident. One of the things I worry about as well. I hear it doesn’t take much to “total” our cars. May I ask which shop you took it to? The only Vegas collision center I have heard of is Tucker’s
Pro
Joined: Aug 2016
Posts: 551
Likes: 42
From: "Exit 8" New Jersey
Ahhh...diminished value...unfortunately I’ve never heard of any insurance company compensating anyone for it, and in this day and age of carfax any small “ding”on the carfax will certainly hurt you if you trade in or sell private to a person who believes in carfax 100%. This is the whole reason I no longer trade vehicles in and prefer to sell privately. Best advise is to fully document the damage and repair process so that you can show a potential buyer that the damage was light and repaired correctly. I’ve done this and gotten great value back on vehicles I’ve sold that had minor damage. Once someone can see what happened there is a good chance you can get most of your value...but on the other hand...when trading in or dealing with a purchaser that doesn’t look beyond the carfax you will be taking a huge hit...not hundreds...thousands!
Race Director
Joined: Oct 2012
Posts: 17,382
Likes: 6,525
From: Melbourne, FL
Only some states allow for diminished value claims. You almost always have to have a lawyer for them, and they are only for presently diminished value. You won't be compensated for a potential future value.
Burning Brakes
Joined: Oct 2017
Posts: 909
Likes: 320
From: Kearney Missouri
We had a jaguar xj get rear-ended. Depreciation is bad enough without getting hit - tried for diminished value and I got nowhere in Missouri...
IMO you shouldn't have a problem if the repair work is done correctly. I'm so glad paint matching is easier than it was 30+ years ago. I had a silver 81 RX-7 that was hit and back then silver was the worse color ever to match. Silver still isn't easy but back then it was obvious if you had a panel repainted... Now with computer color matching the shops can get close.
Think of it this way - would a minor repair keep you from buying a nice '86, '76, '66 or '56 model? Even the ones that go for a lot more than most of us can afford have been restored in some fashion...
IMO you shouldn't have a problem if the repair work is done correctly. I'm so glad paint matching is easier than it was 30+ years ago. I had a silver 81 RX-7 that was hit and back then silver was the worse color ever to match. Silver still isn't easy but back then it was obvious if you had a panel repainted... Now with computer color matching the shops can get close.
Think of it this way - would a minor repair keep you from buying a nice '86, '76, '66 or '56 model? Even the ones that go for a lot more than most of us can afford have been restored in some fashion...
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Melting Slicks
Joined: Dec 2004
Posts: 2,943
Likes: 14
From: Gurley (Keel Mtn, Sweet Home) Alabama
With 21K on the clock and being a base coupe you're not going see much in the way of "collectors value" unless it was a 96 GS. Over time attrition of the C4 in general will let prices start to appreciate but not the a level of anything significant. Just drive it and enjoy it, rather have 100K of smile filled driving, then 20k of sitting in a garage!
If you took it to a Vette recommended shop then the car will be fine and as good as new...the fender bender will have minimal if any affect or resale value.
Just remember it was her fault, don't let her insurance company tried to get it fixed on the cheap, any professional competent body shop will work with you to make sure it's fixed right!
If you took it to a Vette recommended shop then the car will be fine and as good as new...the fender bender will have minimal if any affect or resale value.
Just remember it was her fault, don't let her insurance company tried to get it fixed on the cheap, any professional competent body shop will work with you to make sure it's fixed right!
Le Mans Master
Joined: Feb 2000
Posts: 9,061
Likes: 214
From: Epping NH
Team Owner
Joined: Sep 2003
Posts: 25,394
Likes: 2,741
If there's damage to the quarter @ 10:00 & 2:00 I'd think there was no way to get there without impacting the L/R wheel & tire. I'd maybe more concerned with suspension, tire/wheel and related damage than the SMC repair and paint.
**An exception might be if hit by a large SUV or truck with 30" tall bumpers.
What were you hit with?
**An exception might be if hit by a large SUV or truck with 30" tall bumpers.
What were you hit with?
Last edited by WVZR-1; Apr 4, 2018 at 10:51 AM.
