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Does a car devalue after a crash.

  • 19-08-2009 10:20pm
    #1
    dingding
    Registered Users, Registered Users 2 Posts: 4,937 ✭✭✭


    Just a question someone in the trade might be able to help me with.

    If a 2 year old was crashed and repaired. (BMW 5 Series 3.0 Diesel)

    Would the trade in value be less as a result that it was crashed and repaired when compared against an identical car that was never crashed.

    If the car is devalued, did anyone successfully get any compensation from an insurance company based on the drop in value.

    Just asking for a friend who was in an accident that was another partys fault.


Comments

  • #2
    DanGerMus
    Registered Users, Registered Users 2 Posts: 1,525 ✭✭✭DanGerMus


    Yes it devalues the car but it depends on what kind of damage was done.
    No the insurance wont make up the difference.


  • #3
    -Chris-
    Closed Accounts Posts: 12,035 ✭✭✭✭-Chris-


    The insurance company will usually compensate to the amount of 10% of the cost of the repair (afaik).

    Needless to say it's nowhere near the depreciation the car will suffer due to the damage, and I don't believe the 10% figure is negotiable.


  • #4
    dingding
    Registered Users, Registered Users 2 Posts: 4,937 ✭✭✭dingding


    I think there was about 20K damage to the car and the Chassis was bent.


  • #5
    NewApproach
    Registered Users, Registered Users 2 Posts: 2,189 ✭✭✭NewApproach


    dingding wrote: »
    I think there was about 20K damage to the car and the Chassis was bent.

    So borderline write off. It would put me off buying it anyway. How much would you be saving over buying a mint one?


  • #6
    dingding
    Registered Users, Registered Users 2 Posts: 4,937 ✭✭✭dingding


    I think he was looking at 46K - 47K for a trade in before the accident.


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  • #7
    rccaulfield
    Registered Users, Registered Users 2 Posts: 1,015 ✭✭✭rccaulfield


    Of course- it will be registered as accident damaged if it went through insurance companies to, so reg check will show that!


  • #8
    dingding
    Registered Users, Registered Users 2 Posts: 4,937 ✭✭✭dingding


    rcaufield, that is a very interesting point. :)

    If they can fix the car to the standard it was before the crash (probably what the insurance company would say :rolleyes:) why then do the sell a register of crashed cars, so the cost of the car is devalued infering that the car is NOT the same as before the crash.

    Or is there any other purpose of the register that I am missing.

    Surely from the insurance companies point of view, the car is either fixed to the same standard, and the owner has soffered no additional loss or it is not.

    Is there a car insurance ombudsman ?


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