2012CyberGrayGS

How much less would you pay for a Vette (GS) that shows it was in an accident on a Carfax report?
The damage was just cosmetic. A person just stopped at a stop light and then looked at their phone and somehow couldn't keep their foot on the brake pedal and it rolled into the back of the car. It cause some paint flaking and clear coat webbing. All that was done was just a repaint of the rear bumper. The job was excellent and you can't tell the difference (a professional looked at it and felt it up and couldn't tell). There would be pictures to show the damage.
1.I know the answer to this question but it has to be put out there, would anyone pay full market value?
2.If not how much less you the seller have to come down for you to purchase the car?
3. How many of you wouldn't even be interested in this car with the minor cosmetic damage even though a professional couldn't tell anything was done?
Thanks for the feed back!

See5see6

That "repair" wouldn't bother me one bit. I'd be happy to pay a fair price for the car.

HBsurfer

If it was just cosmetic and you could not see where the repair was made, it would not bother me at all

919cw313

FAUEE

Fair market value for a damaged car is different than of a flawless car. Would I buy it depends on my plans for it. If it was going to be a track rat, a daily, etc. I would buy it, and expect it to be 10-20% cheaper than a similar car without accidents. If it was going to be my low mileage garage queen baby, it would not be a car I would entertain.

hogfanandy

My thoughts exactly as well. Only other thought would be how long the owner plans on having the vehicle (if he/she knows)

enventr

farmington

K-Spaz

bobeast

Short answer is "as little as the seller will take". Really, though if it was repaired well, I wouldn't shy away from it, but I would definitely use it as a negotiation tool.

mkitt27

If I was a potential buyer, yea I'd use it as a negotiation point. Not going to pay full value. And then only if there was documentation to the magnitude of the repair. So you'd want to be clear how minor, and willing to share the repair record. While I don't have collectable cars, there are always ones out there that haven't been damaged severely so you need to provide evidence. At least for those who won't skip over it completely. But you do want to be up front... I have seen ads for cars claiming no accident, then Carfax says rear end damage - I moved on.
How much less? that will depend on the buyer and how aggressively they will negotiate. I could imagine a couple grand?

Johnathon59

If the car was a 2012-13 I think a 10% decrease in price is reasonable , if the car is pre 2012 I wouldn't expect much of a decrease or worry about resale value, but could be used to negotiate a slightly lower price

reasonable suspicion

I agree.

Cockroach

This^ and only if the original air is in the tires, if not then I'd pass.

Kenny94945

I am of different mind.
My comments can be controversial, but that's my opinion when a Vette is body or engine damaged.
Is the OP a buyer or seller?

Me as a buyer...I would not consider, would have to be very attractive discount 50-75% off.
Again I would not personally buy.
There are to many non-story/ painted cars available to choose from.
A $3K to $5K reduction is not attractive for the future resale risk and paint issues.

Me as a seller...I'd feel f**cked.
I'd would have traded in immediately and gotten diminished value
hoping that the sales price and DM equated to the total value.
There is a formula for DM based on the repair cost and I guess that formula answer will answer that
part of the OPs question.

Sorry to read about the not the OPs fault accident.

PuckDracon

The accident on the report will state damage in terms of MINOR, MODERATE, MAJOR, and also mention if it had to be towed away. If it really was listed as Minor, with the pics to back it up, expecting more than a ~$1k drop or so is a bit silly and that's only because no matter how minor it was, it still shows as a 1 accident vehicle once a claim is made.

Keep in mind these forums aren't indicative of your average vehicle owner so the opinions will be very different. I would not be trying to sell it on here, that's for sure . If someone offered me 20% less for my car because it had a 2mph bump with a couple hundred dollar spiderweb repair on the back bumper I would laugh in their face. 20-30% depreciation is what the going rate for salvage/rebuilt title cars are. It's a Chevy, not a Ferrari. A repainted rear bumper from a fender bender isn't going to drop the value $5k.

I bought and sold used cars for a couple years and went to auctions a few times with the buyers so I understand the market a bit better than a normal consumer who buys or sells a car every 5-10 years. Note that often even brand new cars with 0 miles can have paint work done to them or even swapped body panels. Many are damaged, scratched, or bumped during transport to the dealership or while they are on the lot with kids and teens running through them and opening doors into the car next to them. Do you think they discount them? Heck no. They get their paint work done on site and are right back on the lot...it is MUCH easier to blend and hide body work on a brand new car that hasn't faded or gotten and paint damage yet so 99% of people would never even notice.

BlindSpot

I would pass. There are far too many Corvettes for sale at any point in time, in perfect condition, to consider one that has been in any kind of accident. It's a mass production car. This is especially true if someone is going to be stubborn on their price arguing the damage was minor. I'd rather negotiate price on an accident free one as, even then, there are too many out there for sale.

When I looked at mine, there were close to a dozen equal examples for sale in a 100 mile radius of Phoenix, all with perfect carfaxes. I bought the third one I looked at. The first two refused to consider my offer, the third one did.

farmington

GS982

Most dealers will ding you on trade for any accident reported, $2-5K I'd guess on this car. Then they go on to try and sell them for full retail. Unless it were an exceptional deal, I would pass on a Corvette with accident reported. Pics would help, but too many scammers and hack job shops out there for me to feel comfortable. You could take it to CarMax, they will identify the repair and value taking in the accident adjustment. I had a good friend that did purchase valuations for them for a few years and it is amazing what he can point out in regards to previous damage/repairs.

Oh Boy

More like out of your mind. So you want a $17,000-$20,000 grand discount on a $35 grand car because it had a scratch and a bumper repaint. Keep dreaming.