How much will the value of my car change after an accident?
I rear ended someone, and my car is in the shop. I just got the estimate that there's $6,000 of damage mainly to the front end. The car itself is a ford focus (2014) and was purchased for around $15,000.
Also, when I sell my car it is no longer 'clean' and it is 'rebuilt', correct?
thanks!
Added (1). to clear up anymore confusion, I'm going through with the repairs, I wanted to know how much will the value change once its been completely repaired…
It will depreciate about half the repair value. Got to keep your wits about you on the road. Stop following so close. You'll love your new insurance bill as a result. A multi-thousand dollar mistake.
It's not a "rebuilt" title as the vehicle hasn't been written off.
It will show on the vehicles history that it's been in an accident, and that does have some effect on the resale value. But as long as the repair is done professionally it's not a serious issue. A LOT of vehicles have been repaired to some degree, and it doesn't take a lot of damage to run up $6K in parts and labour.
When you are in the shop, look around at all the other cars being repaired? A whole workshop full right? So when you buy a used car, the chances of it NEVER having been repaired is actually pretty slim.
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