Selling car with accident damage - What's it worth?
Discussion
- MOD's this is not an advert, i'm just trying to gauge what level (discount) I should price my car at due to damage...
The car - 2007 (07) BMW 335i M-sport Auto (with paddles) coupe - good colour combo, 19" alloys but no Sat Nav but has some other toys. 38k miles and nearly new tyres with full BMW history.
Back story - I first put my car up for sale at market value (based on auto trader private sales prices) in mid June, a week later somebody decides to drive into the back of me leaving a damaged rear bumper (bumper will need replacing but no boot floor damage). I have a claim ongoing but the third party are not talking to their insurers so I'm waiting for the default judgement which after the 90 day period would leave me in October.
Problem is that I don't have the time to wait to get it repaired or have the funds to pay my excess (£2k) meaning I am currently stuck in limbo. Due to this I am thinking of selling the car as it is and claiming the cheque for repairs to compensate for the lower sales price (have repair quote which has been submitted to the AMC from a local BMW Main dealer).
The damage is just the rear bumper and tow eye cover (will need replacing), with the rest of the car being mint (barring a couple of alloys my girlfriend kerbed) From looking similar private sales seem to be up at £14.5k with similar spec and mileage
Would advertising at £13.5k and settling on a little less be about the number or even less still? I'm thinking that this will appeal to somebody who see's a saving to be made by sourcing a bumper themselves, whilst i want to maximise the return for myself when the retained repair costs are factored in?
Also where to advertise, from reading around on the PH classifieds and Ebay?
Edited by kiethton on Wednesday 8th August 18:55
Frankly, it is extremely stupid to take out a policy with a £2000 excess. I have little sympathy- what were you thinking?
And no, IMO no-one will look at a damaged car which will only be £1k cheaper. Repairing the car using new BMW parts and an approved workshop will eat the majority of that saving- then there is the possibility of discovering other damage behind the bumper.
And no, IMO no-one will look at a damaged car which will only be £1k cheaper. Repairing the car using new BMW parts and an approved workshop will eat the majority of that saving- then there is the possibility of discovering other damage behind the bumper.
Edited by HustleRussell on Wednesday 8th August 21:02
It's a five year old car FFS, so pick up a secondhand one for £180 on Ebay and a tin of paint from halfords.
http://www.ebay.co.uk/itm/GENUINE-BMW-3-SERIES-E92...
http://www.ebay.co.uk/itm/GENUINE-BMW-3-SERIES-E92...
I know I was a little toppy with the excess, I was 21 when I got the policy and doing this saved c. £700 for the year, just under half the premium.
I was hoping that it wouldn't affect the value too much as if I could sell it, even for c. £12.5/13k i've managed the repair estimate which includes un-necessaries that normal people wouldn't pick up on would see a far better value than market rate. Boot floor damage has been ruled out.
I was hoping that it wouldn't affect the value too much as if I could sell it, even for c. £12.5/13k i've managed the repair estimate which includes un-necessaries that normal people wouldn't pick up on would see a far better value than market rate. Boot floor damage has been ruled out.
kiethton said:
I know I was a little toppy with the excess, I was 21 when I got the policy and doing this saved c. £700 for the year, just under half the premium.
Alas, it has still proven to be a false economy.Bumper skin, trims, parking sensors, bumper, bumper carriers/brackets, bumper shock absorbers, inserts, heat shielding, vents etc etc all adds up- don't assume this is 'just' a bumper. There is no such repair on a modern car!
As others have suggested, do your utmost to get it repaired first to minimise your losses. The car being damaged will put the vast majority of viewers off.
HustleRussell said:
kiethton said:
I know I was a little toppy with the excess, I was 21 when I got the policy and doing this saved c. £700 for the year, just under half the premium.
Alas, it has still proven to be a false economy.Bumper skin, trims, parking sensors, bumper, bumper carriers/brackets, bumper shock absorbers, inserts, heat shielding, vents etc etc all adds up- don't assume this is 'just' a bumper. There is no such repair on a modern car!
As others have suggested, do your utmost to get it repaired first to minimise your losses. The car being damaged will put the vast majority of viewers off.
Sensors are fine, just the diffuser cracked off and the bumper itself scuffed, its really not that bad at all. The brackets that hold the bumper in place are still perfect and straight and the bumper shut lines are still as they should be.
The problem - your problem - is that you need a sale, and the car is a gamble, however small that gamble may or may not be, and that will drive the genuine offers you get.
You best financial option will be to take a loan, an interest-free credit card, whatever, and get it repaired. But if you need to shift it, you'll have to accept what you'll consider a low offer, and fight the balance out with the insurance company. Nobody is going to take the book price, deduct the cost of a bumper and a can of paint and offer you the balance.
You best financial option will be to take a loan, an interest-free credit card, whatever, and get it repaired. But if you need to shift it, you'll have to accept what you'll consider a low offer, and fight the balance out with the insurance company. Nobody is going to take the book price, deduct the cost of a bumper and a can of paint and offer you the balance.
ColinM50 said:
It's a five year old car FFS, so pick up a secondhand one for £180 on Ebay and a tin of paint from halfords.
http://www.ebay.co.uk/itm/GENUINE-BMW-3-SERIES-E92...
Whatever you do, do not do this.http://www.ebay.co.uk/itm/GENUINE-BMW-3-SERIES-E92...
Have it fixed, if it's just a bumper it's no big deal. Bodyshop only, no rattle cans FFS.
Sounds lke you have more damage than someone I know with the same car as you state.
Anyway new bumper £800 painting bumper £250 brackets (changed as there is no way you would have a body shop for a bumper back after an impact with the risk of it not being perfect as they will then spend more labour time making it for than the cost of the brackets.
Parking sensors appeared to be fine but there was I believe damage to the wires so had to change them. This was apparently a sub 15mph impact (he mentioned this as he was shocked at the damage done).
Anyway total cost was c£2k plus vat.
Frankly I would highly advise waiting this out. Fact is they hit you if the evidence backs that up your insurance company will go ahead with your repair before the other insurance company has agreed and if it's a sure thing which all rear Enders are you will not be asked to pay any excess (I know this as in my car ownership lifetime I've had a few rear Enders - one disputed it I was stationary in traffic lights handbrake on and he hit me at 30mph.
So speak to your insurance company first and foremost.
Anyway new bumper £800 painting bumper £250 brackets (changed as there is no way you would have a body shop for a bumper back after an impact with the risk of it not being perfect as they will then spend more labour time making it for than the cost of the brackets.
Parking sensors appeared to be fine but there was I believe damage to the wires so had to change them. This was apparently a sub 15mph impact (he mentioned this as he was shocked at the damage done).
Anyway total cost was c£2k plus vat.
Frankly I would highly advise waiting this out. Fact is they hit you if the evidence backs that up your insurance company will go ahead with your repair before the other insurance company has agreed and if it's a sure thing which all rear Enders are you will not be asked to pay any excess (I know this as in my car ownership lifetime I've had a few rear Enders - one disputed it I was stationary in traffic lights handbrake on and he hit me at 30mph.
So speak to your insurance company first and foremost.
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