Hi I was looking for an answer on a vehicle repair and it diminshing the value of the car.
I have a 2014 BMW 328D that has had a repair to, a rear bumper, a cracked tail light and a dent in the luggage lid (trunk). The estimate written for the repair was a little over 2100.00. My question is, if the repairs done will significantly diminish the value of this vehicle and by how much. If I could have someone call me at 716-832-3534 with some input to this I would greatly appreciate it.
If the repair is done right, no one will ever know - unless there is a insurance claim that can be picked up by Carfax.
Thank You for such a quick response. We have a situation where an owner of the vehicle is stating the vehicle has diminished in value significantly due to the repairs and we just wanted to verify this was possible. The estimate for repairs is for $2100 and the owner is stating the vehicle has diminished by 8100.00 due to the repair. Is this plausible?
So long as they repairs were made to "good as new," AND there is no Carfax record stating the vehicle was in an accident, then I don't see how the vehicle suffered any "diminished value." Obviously in their eyes it is diminished, but not to any future buyer it wouldn't be - unless it was repaired to subpar standards. Most good body shops will make it like new (maybe even better). I'm also curious as to where they got the number 8100 from? A repaired dent does not detract from the value of a car. A broken taillight or bumper cover once fixed does not detract either. A damaged frame, yes. A permanent accident record that can be looked up via Carfax, yes. But assigning a dollar value is very subjective.
For the damage you describe no. Is someone trying to shake you down?
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