Effect on value
Thread Starter
Cruising
Joined: Mar 2013
Posts: 12
Likes: 0
From: Atlanta GA
Effect on value
I've found a nice, low mileage C5 convertible in otherwise excellent shape.
However, several years ago, a rear quarter panel was replaced and painted. It shows up as an accident on the Carfax report. Looking at the car, it is undetectable.
Opinions on the effect on the value of the car?
In terms of my ability to sell the car in the future, do you think that this would be a major problem?
How would this affect your thinking if you were looking at buying? Anywhere from "I would never consider it" to "If it isn't obvious, I wouldn't care"?
Thanks!
However, several years ago, a rear quarter panel was replaced and painted. It shows up as an accident on the Carfax report. Looking at the car, it is undetectable.
Opinions on the effect on the value of the car?
In terms of my ability to sell the car in the future, do you think that this would be a major problem?
How would this affect your thinking if you were looking at buying? Anywhere from "I would never consider it" to "If it isn't obvious, I wouldn't care"?
Thanks!
Le Mans Master
Joined: Sep 2013
Posts: 8,900
Likes: 1,074
From: Wisconsin
I would offer him a few hundred less than what he was asking, but if it was what I was looking for I would definitely buy it. He knows it is on the Carfax, so it does give you some leverage on the price.
Team Owner
Joined: Aug 2003
Posts: 24,472
Likes: 309
From: Scottsdale AZ
I'd agree with all of the posts . . realistically, if it was repaired correctly with no frame damage, it's no big deal.
But it can serve as a bargaining point for you to gain a little price leverage and save a few bucks as JR suggests.
Good luck-
But it can serve as a bargaining point for you to gain a little price leverage and save a few bucks as JR suggests.
Good luck-
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Safety Car
Joined: Apr 2011
Posts: 4,260
Likes: 429
From: Houston TX
Why are so many corvettes purchased for the next owner?
Buy what you want and consider your money gone after the purchase. If you decide to sell down the line then anything you get will be a recovery and like free money in your pocket for another toy. If you worry about your "investment" the entire time then you won't enjoy the car until it is sold and your burdon is gone.
Buy what you want and consider your money gone after the purchase. If you decide to sell down the line then anything you get will be a recovery and like free money in your pocket for another toy. If you worry about your "investment" the entire time then you won't enjoy the car until it is sold and your burdon is gone.
Drifting
Joined: Dec 2009
Posts: 1,854
Likes: 3
From: Boise Idaho
Why are so many corvettes purchased for the next owner?
Buy what you want and consider your money gone after the purchase. If you decide to sell down the line then anything you get will be a recovery and like free money in your pocket for another toy. If you worry about your "investment" the entire time then you won't enjoy the car until it is sold and your burdon is gone.
Buy what you want and consider your money gone after the purchase. If you decide to sell down the line then anything you get will be a recovery and like free money in your pocket for another toy. If you worry about your "investment" the entire time then you won't enjoy the car until it is sold and your burdon is gone.
This
Le Mans Master
Joined: Jan 2004
Posts: 9,488
Likes: 1,743
From: Knoxville Tn
When you consider the fenders simply bolt on, having one replaced is nothing, in reality.
There are those that denigrate a vehicle that has an 'Accident' on it's car fax, but really now, how many 10-15 year old cars don't have some kind of issue?
If the fender aligns properly and matches color, what's the big deal?
There are those that denigrate a vehicle that has an 'Accident' on it's car fax, but really now, how many 10-15 year old cars don't have some kind of issue?
If the fender aligns properly and matches color, what's the big deal?
Race Director
Joined: Aug 1999
Posts: 11,115
Likes: 669
From: SE Pennsylvania
St. Jude Donor '03 thru '26
Oldtimer
Depends ?
I had a small fender bender so to speak. But I had it repaired @ CountyCorvette and the true artists there. I needed a quarter panel and some rear suspension work. So I documented all the work both in photos and in regular documentation. So a perspective buyer sees this accident on a carfax, I can show them exactly what the Corvette looked like the day of the accident, once in tin the shop without the QP and the door needed to be replaced, but you can see the door glass wasn't broken. So I think I can show that while the car was in an accident, The buyer can see for himself what it involved. 
Race Director
Joined: Jul 2007
Posts: 17,706
Likes: 1,210
From: Aiken, SC
St. Jude Donor '13 thru '26
Thread Starter
Cruising
Joined: Mar 2013
Posts: 12
Likes: 0
From: Atlanta GA
I take your point
[QUOTE=Black 02;1586577004]Why are so many corvettes purchased for the next owner?
I take your point- I either like the car and will enjoy it, or I won't.
It really only matters to me in terms of what is a fair price to pay for it.
If an undamaged car would go for (say) $25k, and damage would make it harder to sell down the road and it would go for much less then, then I ought to pay less for the damaged car (and enjoy driving it). If the seller insisted on $25k, then I ought to keep looking.
But it looks like the responses I've gotten indicate that the damage won't really hurt me in the market as long as it was properly repaired. So I'm not a fool to buy it at nearly the market price for an undamaged car. Or at least not a fool in this particular case...
I take your point- I either like the car and will enjoy it, or I won't.
It really only matters to me in terms of what is a fair price to pay for it.
If an undamaged car would go for (say) $25k, and damage would make it harder to sell down the road and it would go for much less then, then I ought to pay less for the damaged car (and enjoy driving it). If the seller insisted on $25k, then I ought to keep looking.
But it looks like the responses I've gotten indicate that the damage won't really hurt me in the market as long as it was properly repaired. So I'm not a fool to buy it at nearly the market price for an undamaged car. Or at least not a fool in this particular case...
Pro
Joined: Feb 2014
Posts: 697
Likes: 7
From: Kansas City Missouri
When I was searching for my c5 I wouldn't even look at one that had been in a accident.
I ran across a few that were pretty good deals because they had been for sale for such a long time but they would have had to been dirt cheap for me to buy one.
I ran across a few that were pretty good deals because they had been for sale for such a long time but they would have had to been dirt cheap for me to buy one.