Why Your Car Loses Resale Value after a Crash Even If It Is Restored by a Gilbert Certified Body Shop
The time has come and you are finally ready to sell your old and buy a new car, but then the prospective buyer backs out from the deal, because she checked Carfax and its says your car was in an accident. Suddenly you remember the guy that hit you because he was too busy eating his burrito while driving and tapped your bumper. And because you filed a claim with his insurance company your teeny fender bender shows up in the vehicle history report.
But really it was only cosmetic so why does the buyer step back from the purchase or offer you less?
Here are some reasons why you will get less for a vehicle that was in an accident even if it has been restored by your certified auto body shop:
Your car was damaged:
Yes, this is stating the obvious, but it you put yourself in your buyer’s shoes, you probably would offer less for a car that has been in a collision or fender bender as well. Just like many people don’t buy bruised fruit even though it tastes the same, there is a mental blockage against buying something that is not in top condition.
Even your dealership that has the resources to give your car a thorough check, will pay you up to 20% less than what your vehicle might be worth without damage.