accident car value.

Im looking at a 2011 458 that had "cosmetic" damage. No frame or structural damage but its still on an accident report and fenders had to be replaced and painted. How does this affect the value of a 458? They are asking a normal (ish) 458 price of 160K. Any suggestions on how much this could "de-value" the car would be appreciated

 

sounds like to much a friend had an accident damaged 458 that he traded in about a year ago on his 488 and he ended up selling it for 150k it was red and a 2010 or 11...

 

If you are going to keep this car forever then maybe it doesn't matter but consider how hard this car will be to sell down the road. Ferrari buyers are fickle and accidents, Euro vs US, mileage, etc. will impact the price and speed of a sale. I bought a Euro 360 with 38k miles knowing that it will take longer to sell but I bought it for me, not the next owner, and will live with the consequences.

I wouldn't buy a car that had multiple fenders replaced unless we are talking 20%+ discount but that is just me.

I was looking at a 2013 Porsche 911 about a year ago and it had some body work done. The seller (high end used car dealer) provided documentation from TrueFrame. This documentation showed the repair pictures of the car and had measurements from several reference points to prove that the frame was straight. The repair was a fairly minor one, not an insurance total or rebuilt title. I don't know anything about TrueFrame but it did give me a better impression of the car.

Can you get photos of the repair?

 

5 years ago there was a 599 in Scottsdale that I really liked. It had very minor front bumper damage with no air bags deployed. TrueFrame did a very though report. The seller was offering it about 20% off the “going” rate for 599s at the time (he wanted $130K and the going rate was closer to $160K). I seriously thought about it and decided that I didn’t want a car with a bad Carfax and passed. Ultimately it took the dealer almost two years to sell the car. The last time I checked out his website before it sold he had dropped it another $15K. Moral of the story, no matter how minor the damage and how well documented, it will be extremely hard to resell a car with a bad Carfax.

Martini13 the damage you are describing is far far worse than the damage to the 599 I was looking at (by the way, i dont view fender replacement as cosmetic—that is major damage in my book). There are lots of good 458s out there. Why go for one that has issues and will be extremely difficult to resell? Pay more now and get the increased cost back when you resell it.

 

Spot on analysis!


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