Impact of Accident on Value

[MikeW]

I almost feel like making a video to show you how to edit a post instead of just bumping the thread 6 times with more information that's not going change how any one feels.

Why don't you just make an offer on the car like everyone else? Are you normally crippled by life's choices?




This.

Ummmm, no.

But DV was a term unknown to me before starting this thread. It also happens to be a term that seems unknown to r3v based on my limited searches. So yeah, I could have edited threads as I shared my research, but there are those that also find that irritating. I will edit in the future. Thanks Pal.

[ST1G]

Last post - this is a really good thread on DV with some numbers that are useable in the context of an older BMW:

http://www.bimmerfest.com/forums/showthread.php?t=499259

It appears that $1000 is the magic number!

Keep in mind that it's worth what someone is willing to spend for it. So regardless what that says he might just reject your offer. Seems like a lot of work over a small actual amount that will be agreed upon.

[MikeW]

Thanks Bud, maybe you are right. But who knows, maybe the hour I spent to arrive at a legitimate and defensible number of $1,000 will help someone else if not me. If you doubt the value of such information follow some of the links I posted and read up. But I forgot, nothing I posted would change your mind. Best of luck.

[MikeW]

Full NADA retail should mean that the car is immaculate and comes with a warranty.

Since this is a private sale, show him private book and start there with negotiating.

Its not like "7/10" e36 M3's are hard to find.

I always thought that full retail for a used car, particularly an older one, meant the value of a car in the condition of the top 5% to 10% of the cars in existence for the model and year (and at a dealer but not necessarily with warranty).

[Fleksta]

I always thought that full retail for a used car, particularly an older one, meant the value of a car in the condition of the top 5% to 10% of the cars in existence for the model and year (and at a dealer but not necessarily with warranty).

Yes, but there is a reason that retail book and private party book are different. When you buy from a dealer expectations are different. You're right, it may still be sold AS-IS but the retail number is supposed to take into consideration dealer overhead and preparation.

There are also levels of value in both books, if the OP has described the car as a 7/10, that to me means slightly above average. I.E. not deserving of the top book value in any case.

Without further information about the particular car in question, I can only suggest starting at the Private Party Average value in negotiating unless there is something particularly alluring about it in the eyes of the OP.

[McGyver]

this has been the most useless thread i read all day, and thats saying something because today i read about pajama boy.

OP - if you like the car, offer what you would like to pay and then negotiate until both of you settle on a price.

[Thizzelle]

just watch how gas monkey negotiates and go from there, FFS

[LivingLegend06]

OP you are seriously looking into this way too much. On a car like this as long as it was properly repaired and there then there is very little change to the value. this value change is highly subjective and varies person to person, you cannot put a number on it.

If there is a fitment issue then that is something completely different and should be treated as "damage" on the car.

If you can provide pictures and details on the car then I am sure a lot of us would throw out values on what we think the car is worth.

[blunttech]

this has been the most useless thread i read all day, and thats saying something because today i read about pajama boy.

OP - if you like the car, offer what you would like to pay and then negotiate until both of you settle on a price.

now im searching for Pajama boy. cant find it

[MikeW]

Impact of Accident on Value

LL,

All I can tell you is to read some of the links. The effect on price is very real and even recoverable from an insurance company so long as the owner was not at blame for the accident. There is a massive amount of data to support the affect of accident history on a car (e.g., Diminished Value). It is as true for an old vehicle as it is for new. You may not care about the issue when buying a car, but data shows that most buyers do and the impact on price is measurable. The Supreme Court has ruled this to be the case and in the past several years insurance companies have accepted this as fact (Although they, like you, make every effort to pretend the issue is phony).

If you don't research it than you will keep thinking like many did up until five or so years ago, which is your loss.

FYI - owner accepted my arguments and reduced his price by $1000.


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[MikeW]

this has been the most useless thread i read all day, and thats saying something because today i read about pajama boy.

OP - if you like the car, offer what you would like to pay and then negotiate until both of you settle on a price.

Do I understand that your advice is that it's useless to reference book values when buying a car? That's pretty awesome, let me know when you are in the market!!!


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[JBedo]

Why don't you beat the shit out of the seller on his price for about 3 or 4 months. Then when the two of you finally agree on a price that he's not comfortable with... Back out.
Or that's what you did with me at least......

[ST1G]

Why don't you beat the shit out of the seller on his price for about 3 or 4 months. Then when the two of you finally agree on a price that he's not comfortable with... Back out.
Or that's what you did with me at least......

Oh shit.

[MikeW]

Wow, dude. False and inappropriate.


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[FlexdXJ]

Why don't you beat the shit out of the seller on his price for about 3 or 4 months. Then when the two of you finally agree on a price that he's not comfortable with... Back out.
Or that's what you did with me at least......

Even if true, you're retarded if you haggled with someone for 4 months trying to sell your car....you obviously didn't want to sell it that bad.