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Old 04-23-2013, 03:52 PM
 
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I have a 2009 Pontiac G6 GXP with 77K that I was going to either sell or trade in. The trade in values are from $10K to $12K Very Good Condition and Retail $12-14K. Ive owe $7250 now.

When I got the car in 2010, I got it for $13.3K with 45K and the carfax showed it was involved in a rear end collision in 2008. So when selling a car now that has a previous accident on the carfax, how much value does a car typically lose after that? Ive heard 10, 20, 30 and up to 40 or 50% of the value.

To anyone who has sold or traded in a previously wrecked car before, which of these figures would be most accurate or typical value loss on the car?
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Old 04-23-2013, 04:02 PM
 
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Trade in values are not real values . I think you may still be upside down with this car.Check auto trader and see what cars similar to yours are going for..or you may ask the helpful car salesman thay has the car you want now......................< funny lol
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Old 04-23-2013, 04:04 PM
 
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First of all, you're not trade in anywhere near that value, even if it's perfect, if you think about it the numbers don't make sense.

If retail is $12-14k, trade will be $6-9k, $9k being a very good offer.

Secondly, the depreciation depends on the level of damage at the time, have new panels been welded on, had the rear quarter been cut and welded, were the frame rails damaged, how good is the paint job, etc etc.

To answer your question, I've seen cars with accident damage that didn't depreciate at all on trade in because the repairs were done right and I've seen a Jag that would've been worth $55-57k in mint condition where trade value was $27k.

The other problem you'll run into is that the Pontiac doesn't exist anymore, which wards off certain buyers, which in turn lowers value a little.


Private party should get you more money, but trade, I'd be happy with anything over 8k, depending on condition.
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Old 04-23-2013, 04:31 PM
 
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The car drives very good. The dealer that fixed it said he used the original trunk lid too and just replaced the bumper according to him. Most 09 GXP's with 75-80K sell for $12-13K, so i was hoping i could get about $8500 on a trade. I know I can probably get the $7250 I owe, but more would be better.

If i end up upside down on trade value i may just keep the car as it is a very nice and god looking car but im getting tired of getting 15-16 mpg in traffic and i sit in alot of traffic going to work.
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Old 04-23-2013, 04:47 PM
 
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Consult Kelly's Blue Book (KBB) and NADA. I am not as crazy about "Autotrader" as being an authoritative guide to values. Both NADA and KBB have sites online. I tend to share the view that you are overvaluing this car. However, I convinced an insurance company that my 2010 Ford Explorer XLT with 64,000 miles on it was worth over $17,000 (which is what it took to pay it off).

I would venture to say though that about 75% of all used car owners believe their car is worth more than it really is.
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Old 04-23-2013, 04:49 PM
 
Location: Grosse Ile Michigan
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Personally, if I were considering your car, I would view it the same as a Salvage title car. There is no way to know how much damage was done or how well it was repaired. Thus, I woudl be looking for a huge discount to make up for the risk (40 - 60%). However I see salvage title cars sell for 80% - 85% of their value if they were not-salvage title, so there are people out there who will pay almost full boat. You just have to find someone who is not very knowledgeable about risk analysis and get them excited about a 10% discount.

and as to the claim of "Oh it just needed a new bumper, it is amazing that every salvage title car had nothing more done to it than replace a bumper or a front fender and no other damage at all. There is not one totaled car out there that was actually totaled, they were just all the results of really stupid insurance companies 9In short it is not believable. Maybe if they had pictures, but I would still be skeptical).
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Old 04-23-2013, 05:03 PM
 
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Quote:
Originally Posted by Coldjensens View Post
Personally, if I were considering your car, I would view it the same as a Salvage title car. There is no way to know how much damage was done or how well it was repaired. Thus, I woudl be looking for a huge discount to make up for the risk (40 - 60%). However I see salvage title cars sell for 80% - 85% of their value if they were not-salvage title, so there are people out there who will pay almost full boat. You just have to find someone who is not very knowledgeable about risk analysis and get them excited about a 10% discount.

and as to the claim of "Oh it just needed a new bumper, it is amazing that every salvage title car had nothing more done to it than replace a bumper or a front fender and no other damage at all. There is not one totaled car out there that was actually totaled, they were just all the results of really stupid insurance companies 9In short it is not believable. Maybe if they had pictures, but I would still be skeptical).
True, I always wonder about wrecked cars as well as to why if the damage was so minor why it wasnt repaired and returned to the road rather than sold at auction.

I test drove a 2012 Impala LT last weekend with a clean carfax according to the salesman and the dealer told me he replaced the rear bumper only. I looked at the front and noticed it had LTZ fog lights, which are not an option on LT models for 12 and the steeering wheel has to be at a 15 degree angle to the left to drive the car straight, yet it had a clean carfax and was only hit in the back according to him.

So i see Carfax only reports what has been reported to Carfax and many people buy previously wrecked cars and probably dont know it.
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Old 04-23-2013, 06:30 PM
 
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There are certain things you can look for when purchasing used cars.

Any rough panel edge means a repaint, which in turn can mean damage and warrants further investigation.

Pull back rubber molding, all welding should be spot welds, if it isn't or the welding looks different from side to side, it's been repaired. If it's the rear quarter panel I would be inclined to walk away.

Any spun bolts or signs that bolts have been replace or removed is an indication of damage and should be look further into.

Any obvious welds to the frame (on a truck) or under the car on a unibody could spell massive problems if you ever crash it.

Be thorough, thre's an amazing amount of severely damaged vehicles that have no accident history nor branded title.
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Old 04-23-2013, 11:58 PM
 
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My 80 year old neighbor wanted me to look at an almost new focus a dealer was trying to sell her and give my opinion before she bought it. She drove it over and said that it had very low mileage.I looked under the front left wheel well and noticed that for some reason there were several fender well bolts missing....With no further looking I told her that I thought the reason for the low mileage was because it had been wrecked and spent a long time in the body shop and the original owner had sold it after the accident. I explained that the inner fender liners are never removed unless there has been a big problem or wreck and to make it worse the mechanic or body shop man was too lazy to even finish putting the bolts back in because they just don't fall out.. She was amazed at my opinion and went back to the dealer who thought for sure she would buy the car and asked the salesman the question I told her to ask which was..................."If this car is such a great car why did someone remove and not replace all of the front left fender liner bolts"?? The salesman stopped her from saying any more and said "I have no idea and don't tell me any more, I don't want to know" She declined the sale and then knew this dealer whom she had done business with before was not being honest with her.....She may be 80 years old but her mind is as sharp as someone 25.
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Old 04-24-2013, 06:20 AM
 
2,341 posts, read 11,967,046 times
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Quote:
Originally Posted by SAAN View Post
I have a 2009 Pontiac G6 GXP with 77K that I was going to either sell or trade in. The trade in values are from $10K to $12K Very Good Condition and Retail $12-14K. Ive owe $7250 now.

When I got the car in 2010, I got it for $13.3K with 45K and the carfax showed it was involved in a rear end collision in 2008. So when selling a car now that has a previous accident on the carfax, how much value does a car typically lose after that? Ive heard 10, 20, 30 and up to 40 or 50% of the value.

To anyone who has sold or traded in a previously wrecked car before, which of these figures would be most accurate or typical value loss on the car?
Rule of thumb is that a Salvaged Title Car drops 1/3rd of its value.
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