While I tend to agree with the comments about running away from this vette, as I would never buy this vette with that extent of damage. You may (I did say may) wish to consider this vette if you are on a really tight budget and if you can really bargain down the asking price. In a manner of speaking it is all about money and value.

Lastly, if you are still considering this vette get it professionally checked out to ensure the damage was properly repaired. I have seen many examples and have been a victim of crummy body and paint repair work.

 

No structural damage? I'd be in for $20k or less.

 

Nope, just a LOT of body damage

 

I had a lady pull out in front of me in our 2013 Grand Sport. She did $11,XXX damage with no frame damage. The damage was on the right front side. Fender, Wheel House, Associated Plastic, Front Bumper Cover, Fog Light, and Head Light Assembly. Suspension: Wheel, Tire, Rotor, Hub, Spindle, Tie Rod, Upper A-Arm, and Lower A-Arm. After the fact I found my Transparent Top Cracked on the right side.

I contacted the Forum Dealer that I purchased the car from and gave him a copy of all of the information from the dealership that was doing the repairs. He assessed the trade in value to be diminished by $5000. After speaking with their local adjuster that was determined, by the Insurance Agency of the woman that pulled out in front of me, to be a good assessment. They probably gasped when the local adjuster gave them his opinion of the value because they called me back within 5 minutes and agreed to pay the $5000. I was happy with that as it was more the principle than the monetary value.

Because of this damage history and the opinion of most Corvette buyers l am aware that I will probably not be able to sell my Corvette in a private sale this decade, nor will I be able to trade it to a "Corvette Dealership" with any hope of resale. The repairs are complete and you can't tell that anything happened. If I were not an honest person you, as a private purchase, would never know that there was ever any damage done to her unless you pulled a CarFax report.

Edit: All factory new parts were painted off of the vehicle and then installed.

 

I'd say knock off $5k.

 

So,

How about a 2008 Vert that is perfect. Paint matches, panel lines are straight, wheel base it right on, the car passes the X measurement and it has a salvage title. I was able to talk with the people that did the repair and am comfortable with the work that was done.

46,000 mi, Z51, Black exterior with red interior. LS3 with Auto.

Would you pay $19K for this car? I did and am VERY happy. Drives straight and runs great.

If some mechanic replaced the vibration damper and botched up the threads and used JB weld, I would be more concerned about that repair than the body work. At least with most body work, you can see what the repair looks like. Or, if they did a really nice job, you can't see where the work was done.

Dave

 

You might get a good Vette at a good price this way.

Do you plan on keeping the Vette for a long time?
If you are going to sell it in a few years, you will run into the same questions from buyers that you are asking right now.

 

I, personally, would most likely look elsewhere with all of the examples out there, unless there was a STEEP discount and everything got checked out thoroughly.

 

Salvaged title cars are generally lucky to get 1/2 of the value of a similar non damaged car. 08s are now 6 years old so I wouldn't be surprised if the car you mentioned is worth $10k. In some states you can't even register or insure a salvaged vehicle. No matter what is done, it is not perfect otherwise it wouldn't still be salvaged.

Vibration damper repairs are not required to be reported, accidents are, that is a big difference.

For the OP, $12k of damage is not cosmetic. Vettes panels don't cost that much and that is if you damage every single panel.

 

$12k of damage IS cosmetic aside from the two suspension components mentioned. Not including work or painting, JUST the panels and fender aprons come out to $5288.90. Pretty sure if you extrapolate to an entire car, that's your $12k right there Would you like to see the estimate? I literally listed every component that was repaired/replaced if you'll read back through the rest of the thread. (for short, the entire driver's side was replaced as well as the tie rod and control arm, both front wheels and tires were replaced, front bumper was replaced, passenger side fender was fixed)

 

No matter how much you discount your buy price, remember you will have to offer a substantial discount when you go to sell it and the buyer checks the Carfax, you most likely will lose money in the long term.

 

Personally I agree with the others, I wouldn't buy it. But I can understand why someone might consider it if it were properly repaired and priced right. I did that once with a CPO BMW 540 M-sport that had all the doc's and was discounted right. It did turn out to have more than its share of squeaks and rattles and I traded it back to them after 18 months the day the warranty was up due to other issues typical to the model. I enjoyed that car with no regrets, but I wouldn't go that route again because I have no need to.

To your question of pricing, as per my previous post, my suggestion is knock off half the repair cost if it's all properly documented, and by that I mean the repairs were done through a reputable insurance company based on what the insurance adjuster determined to be necessary. Without that, you have no idea if all the damage was properly identified and repaired and in that case I would treat it the same as salvage title.

 

I would not buy at any discount.

 

Some of you are tough

 

For the right price i just don't see why its a deal breaker unless your only intention is to resell the car.

 

Haha nothing so nefarious. Insurance is low balling me with a diminished value settlement of $1,500 and I just wanted to see if that was fair, especially coming from the Corvette community. Seems it really is a low ball.

 

If the car has been issued a salvage / rebuilt title then it is only worth 50% of book value at best
There is a guy in Buffalo, MO with a 02 Z06 with a salvage title asking $19000.00, he will be lucky to get $9500.00.

 

This is what post #1 should have read. You would have gotten a lot more helpful responses pertaining to your exact reason for wanting to know an answer to such a random question.

Send all of your documentation of the damages and repairs to one of the 'Big Three' Corvette Dealers on this forum Kerbeck, McMulkin, or Criswell. Tell them your situation and that you want an honest assessment of the Diminished value of your corvette; they will help you

 

No salvage, fortunately. I think I benefited from a low initial estimate and then 2 revisions bringing it to the final $11,885 dollar total.

Thanks! Hadn't thought of that!

 

Amazing, I just read two words together that boggles the mind, "honest" and "dealers ". In case you have forgotten, used car dealers exist for the sole purpose of taking as much of your money as they can. They are middle men putting themselves right in the center of a seller/buyer transaction. Added Value for the money ? Sometimes, because of their customer reach and advertisement capabilities but if they can gouge you, you better believe, they will ! Very rarely will they ever see you again and they have to get as much of your funds as they can.