Opinion on trade value

[Cjburn]

I missed out on getting the closeout 2017 I wanted and waited until now to get a 2018. During the 8 months my truck (Tundra) was in a minor accident (2500 in damages) and the carfax reflects that. Realistically book is 35-36k (last time I check Mannheim it was 36k), how much should I expect to lose in trade value because of the accident?

 

[Shane_Anigans]

Dealers will always try to low-ball you, especially on a vehicle that's been in an accident. Even on my last car, a 2009 Civic Si Coupe in a rare-ish color with barely 60k on it (in 9 years) that was in flawless condition, the dealer tried to tell me that it wasn't worth as much because it wasn't a one-owner car. So what, it's a 2-owner car, big deal, right? Then he shows me the Carfax and claims it's had 4 owners, which is technically correct since the car was originally purchased through a Honda corporate program, but still, nitpick much?



TL;DR - prepare to get hosed if you trade it in. You're better off selling it yourself, since Tundras have above-average resale value and not everyone bothers to get a carfax report on a used car. Also, you're not obligated to disclose the accident damage when selling it, so if they don't notice and don't ask, don't volunteer that info. (Yes, it sounds shady, but that's the car business.)

 

[Cjburn]

Part of the reason I got the Tundra was their resale. I can understand it losing value with an accident, but it was very minor. I was thinking taking 1k less in worst case scenario. Does that seem realistic?

 

[Shane_Anigans]

Part of the reason I got the Tundra was their resale. I can understand it losing value with an accident, but it was very minor. I was thinking taking 1k less in worst case scenario. Does that seem realistic?

There isn't really a formula for this sort of thing. Used cars prices are almost entirely market-driven, so estimating how much less you'll get with minor collision repairs isn't really possible. Most dealers want cars that can be advertised as "one-owner, clean Carfax, low miles, etc." If they don't want a truck with prior damage on their lot, it's off to the auction and then the B-lot used car emporiums. To a franchise dealer, there is no "minor" damage, because no one they try to sell it to will believe them if they say that. So, they're going to try to low-ball even harder, since they may wind up getting stuck with it for an extended period, or end up wholesaling it.

 

[The Fed]

Dealers will always try to low-ball you, especially on a vehicle that's been in an accident. Even on my last car, a 2009 Civic Si Coupe in a rare-ish color with barely 60k on it (in 9 years) that was in flawless condition, the dealer tried to tell me that it wasn't worth as much because it wasn't a one-owner car. So what, it's a 2-owner car, big deal, right? Then he shows me the Carfax and claims it's had 4 owners, which is technically correct since the car was originally purchased through a Honda corporate program, but still, nitpick much?



TL;DR - prepare to get hosed if you trade it in. You're better off selling it yourself, since Tundras have above-average resale value and not everyone bothers to get a carfax report on a used car. Also, you're not obligated to disclose the accident damage when selling it, so if they don't notice and don't ask, don't volunteer that info. (Yes, it sounds shady, but that's the car business.)

That might depend on which state you're in. In the two states I've traded in, the regs were, if they are in the auto sales business they are considered experts, and you don't need to tell them anything. It's up to them to find defects, and they have ample time to examine your trade. Not disclosing "defects" to a private party will probably get you sued. You can look up the regs of your state. Also, be careful what you sign on the sales contract. Some have a block asking about damage and defects, and leaving it blank can be considered fraud by omission if your state allows dealers to ask.

 

[Cjburn]

Thanks for the info guys.

 

[cb1111]

[/B]
That might depend on which state you're in. In the two states I've traded in, the regs were, if they are in the auto sales business they are considered experts, and you don't need to tell them anything. It's up to them to find defects, and they have ample time to examine your trade. Not disclosing "defects" to a private party will probably get you sued. You can look up the regs of your state. Also, be careful what you sign on the sales contract. Some have a block asking about damage and defects, and leaving it blank can be considered fraud by omission if your state allows dealers to ask.

Correct. It is state dependent and also depends on the amount of damage.

In NJ, for example, you are obligated to disclose damage that exceeded 25% of the value of the car (wouldn't apply in this case) but some states require ANY damage other than bumper repaints to be disclosed.

OP - what was the damage?

 

[The Fed]

I forgot to mention there are magnetic and I believe electronic devices that measure bondo and paint thickness. I have the magnetic one, and it does work. I mentioned in other threads that shops often don't blend the ridges from the masking tape line, so it's an easy giveaway you had paint work. Make sure you run your hand over every inch of your car before leaving a body shop, not just where the damage was. And no overspray anywhere! I haven't heard of a modern high-production, factory paint job where there is overspray. Robots are very accurate and consistent. Another giveaway is using non-factory spec 3M double-sided tape to attach body side moldings and emblems, etc., if your car has any "stick-on" parts. A shop might re-use your old ones and just use new tape. Never assume you're smarter or going to put one over on a sales manager who appraisers your car. I was in the business for a short time, and observed that managers didn't get to be managers by being dumb or careless. Dealerships don't pay them the big bucks for nothing. And I've had enough cars repaired in my 52 years of driving to know some shops will cut corners when they can.

 

[Cjburn]

There was no paint work in the repair, just headlight, grill, and chrome bumper end cap replaced. No metal body panels were even touched. Very, very light accident, just broke a bunch of plastic.

 

[Mk_GTI]

I forgot to mention there are magnetic and I believe electronic devices that measure bondo and paint thickness. I have the magnetic one, and it does work. I mentioned in other threads that shops often don't blend the ridges from the masking tape line, so it's an easy giveaway you had paint work. Make sure you run your hand over every inch of your car before leaving a body shop, not just where the damage was. And no overspray anywhere!

When I sold cars, I would run my fingers under edges of panels for any roughness from overspray. A good repair job will have minimal rough spots. That told me if any panels have been repaired and a good indication of how well it was repaired.

 

[Charlotte.:R]

I think it would help if you had the invoice for the repair when trading the car in, to show the extent of the damage was minor.


We took a $1500 hit when we traded in my wife's Acura MDX that was in a minor accident. I quite literally used a magic eraser to remove the smudge from her bumper, and the other car had <$1000 damage, but a police report was filed, and the accident hit the car fax. We essential got high KBB trade, less $1500.


I'd at least try selling it yourself prior to trading it in.

 

[cb1111]

There was no paint work in the repair, just headlight, grill, and chrome bumper end cap replaced. No metal body panels were even touched. Very, very light accident, just broke a bunch of plastic.

If you had no paint work or structural damage then you should take no hit on a private sale or a minor hit on a trade.

Make sure that you have the invoice (and pictures if you have them) handy.

The dealership will use a paint meter to check for paintwork. Paint meters do not work on plastic panels.

 

[Cjburn]

If I am able to get high book minus 1500 I would be ecstatic.

 

[Cjburn]

I would want to avoid private sale because of the tax implications on trade ins. The trade value is highier than a purchase price on a gti means I have absolutely no tax paid on the transaction in Illinois.

 

[cb1111]

Go to CARMAX and see what they offer. Then use that number as a guide when talking with dealers.