corvet786c

I was hit or like a scrape to front driver fender. Front headlight needs replacing and total cost is around $3500.00

Police came out to do a report.

Question will this minor accident appear in the carfax report. Will the car loose its resale value? How much?

Other than that it drives great still. Its getting repaired now.

TNTC4VETTE

Probably.

I'd disclose the crash either way at sale, though.

SDB_FTW

If you filed an insurance claim, it will probably show up on the carfax report. Will it lose value? Probably not technically, but it might be a bit harder to find a buyer, forcing you to lower the price some.

SDB_FTW

Also, a word of advice, if it's as minor as you say it is, definitely take pictures of the damage, so that you can show the potential buyer. Without proof that the damage was minor, the buyer would have to take your word for it, because Carfax won't show much detail, only that it has been in a wreck.

For example, I bought my '08 back in January. I got a KILLER deal because it had been in a "minor collision". The title is still clean and I saw no signs of inferior repair, but because the dealer had no proof as to the severity of (or lack of) the collision, his customers didn't have much interest in the car, forcing him to sell it for well under book value.

Top_Fuel

I think this is great advice...especially for a Corvette. Many people recoil in horror when anything shows up on CarFax. If you have documented pictures of the damage before the repair, that can be tremendously helpful when trying to explain a "minor" collision repair to a future buyer.

JJC5

My conscience would eat me alive if I didn't.

SDB_FTW

Off thread topic: OP your avatar is obviously a tire, but the picture is taken at an angle that makes it look like a pretty cool hood from a top-down view!

Kenny94945

That's what diminished value is all about.

Repair, sell (or trade in), get pre-accident value vs post accident value and collect dim val.

How much? It is a black art to value. There are some formulas based upon the repair cost. You can hire specialist appraisers.

azc62006

when and if you trade your car in you WILL take a hit... my son had someone bump him from behind made a dent on the plastic. insurance said the whole rear bumper had to be replaced. of course it was reported to carfax. when he traded his car in they saw the report and said that they had to wholesale his car which reduced his trade in allowance.we had pics on his phone.we showed the dealership the pics. didnt make a difference.....if you dont believe me ask a dealership...

BlueOx

Wow, how many beers have you HAD?!

SDB_FTW

No beer, just bored. Now that you mention it though...

trynt

Perhaps not. While parked some codger backed into my C5 an scuffed the driver's door and put a 3 inch crack in the left rear quarter panel. It severely pissed me off. Rather than patch the panel, I made his insurance company replace it. The bill came to over $2500. When I traded it off 6 months later the Carfax came back clean. I did take photos just in case and disclosed the accident to the dealer.

SDB_FTW

It can take quite a while to be reported, depending on your insurance company. There's a good chance that it'll get reported eventually if it hasn't already.

corvet786c

Well I did not take any photos of the damage. I just didn't think it was that bad. The other guys insurance is paying for the damage around $3500.00 plus rental car. The driver side LED light had to be replaced and they are reusing the existing fenders just re doin them whatever that means. The damage did not go into the reinforcement bar in the front.
Other driver had my paint transferred to his veh.

I just wish it would not hurt the resale value, maybe it wont.

ATC399

Nailed it....what year vette, color, model..

Thrill6

Carfax will 100% pick up the accident report from the police and within a few months. I had a fender bender with another car and the police showed up to do a report. No damage to my car and only a minor scratch on the other. When I sold the car 6 months later the dealership asked how much damage was done when I had the accident. I asked WTF are you talking about, I haven' had an accident in that car. They showed me the Carfax report and it said "Accident xx/xx/2011, damage reported". I was dumbfounded and the next day I remembered the fender bender and the police had showed up. Getting Carfax to correct incorrect information (there was no damage to my car) is next to impossible, believe me I tried. You would have better luck finding gold at the end of a rainbow.

Corvette ED

Carfax is a Ponzi scheme. They have so many class action lawsuits against them.

bosco 08

CarFax is a maketing gimmick for people who know absolutely nothing about cars it gives them a feeling of security while the dealer sticks it to them. CarFax is far from foolproof there is info that doesn't get reported or is misrepresented.
Take your $25.00 and have an independent shop inspect your car even the best repairs show up to a trained eye.

http://usedcars.about.com/od/usedcar...CarFaxInfo.htm

VET4LES

Three years ago our XJ8 was rear ended and did $3500 damage. Mercury paid the claim. (other drivers insurance) We made sure we had a police report. Two years later I took it to Carmax too sell it. They pulled a Carfax and it was clean. I didn't sell it to them and traded it in for a Lexus. They ran a Carfax and it was clean just like Carmax said. I guess you never know.