Vehicle Accident

[moncton golden flames]

So, long story short, somebody changed lanes abruptly and swiped the side of my car on Saturday. I will be proceeding thru Insurance and will be talking to a claims adjuster later today.

This is the first and only accident this car has ever had. But, when I go to sell the vehicle, it will now show as having an accident and mostly likely harm the value of my car.

My question is: How much will this affect the resale value of my car and can/should I look for compensation for this loss thru the insurance claim?

The vehicle is a 2009 Honda Civic coupe with less than 100,000 kms and extended warranty coverage until 2017.

[Burninator]

I had a hit and run on my last car. Damage wasn't bad ($1200) and was just cosmetic. I traded it in and they didn't care. If it is cosmetic damage and is fixed properly I don't think it will affect the value.

[speede5]

Most people don't check accident history and you only have to tell people if a car was actually written off. I'm not suggesting being dihonest in the future, but it's really not a huge deal. Just make sure you get the work done at the best shop possible and you'll never know the difference.

[stazzy33]

I would be upfront when you are selling it. Take some pictures of the damage now (since it is only cosmetic) so when you do sell it you can show the buyer the before and after pictures. I was about to buy a basically new car once (only 2500 km on it) and didn't think to ask about accidents. When I asked for the VIN to check the carproof the owner came clean and told me the car had been in two separate incidents (backed into a snow bank and had been backed into in a parking lot). Even though the car was probably fine, it made me question if she was lying about anything else and I didn't end up buying the car.

[skudr248]

I check accident history. Definitely devalues your car real quick. But it's a Honda Civic so...

[MotoRacer]

Insurance companies won't give any depreciation value

[Canehdianman]

The argument you are looking for is called "diminished value". A google search on diminished value in Alberta brings up a few interesting articles/stories.

Here is a decent starting point: - https://www.google.ca/url?sa=t&rct=j...84349003,d.cGU

[moncton golden flames]

Originally Posted by skudr248

I check accident history. Definitely devalues your car real quick. But it's a Honda Civic so...

not sure what you're trying to say...

[Calgary14]

I always check accident history when looking at a vehicle. I likely wouldn't even look at a vehicle that has been in an accident assuming there are comparables available that haven't been in one. That being said Ive heard some dealers won't care if you trade it in as they have the resources to make any needed repairs for cheap

[Tron_fdc]

Drunk driver hit my parked Touareg a few years ago, and caused $40 000.00 in damage. Why they never wrote it off is beyond me. At the time I didn't care much, seeing as it was a lease vehicle and I got a comparable SUV as a rental when it was in the shop.

Ffwd a few years, and not only did I get told from VW finance that they were taking the accident into account when I returned the vehicle, but I had a MAJOR repair on the vehicle history if I tried to sell it. Buyout was $26k, and I sold it for $27k privately (comparables were $35+). Basically had to fire sale it because it was in an accident that I had nothing to do with, and lost almost $10k because of it.

I have called the insurance company a number of times, and they totally ignore every email and phone call. So no, you won't get a dime for it, and congrats, you now have a vehicle with a blemish in its history.

[Hevishot]

Depending on the Insurance company is how fast "carfax" gets wind of any damages on the vehicle. I know with companies like The personal and Dominion it shows up pretty fast. I had a customer try to trade a vehicle in after a hail repair and the dealer almost did not want it because it had a 6000.00 claim on it. It was not in any "accident" but the hail was repaired. He had to fight with them to get some sort of release that stated the vehicle was not actually in an accident but hail repaired before the dealer took the truck in. Than again we have repaired vehicles with over 10+k in insurance damages and it has never shown up on any car fax report to our knowledge.

[Fire]

Originally Posted by moncton golden flames

not sure what you're trying to say...

I think he's saying that Honda Civics retain value better than other vehicles so an accident might not cause it's value to drop much.

[AcGold]

I was going to buy a clean car, got the accident report and the owner lied to us. Instant no buy, be honest about the crash and how it effected the cars longevity. If it's superficial damage tell the buyer that, they might try to haggle a few hundred off, lie about it is guaranteed no buy.