How much is a “minor” Carfax accident worth?

There are so many good ones why buy one with an accident

 

Agreed !!! You will get killed on resale! I would say 25% to 33% discount. I would never buy an exotic with any accident history!

 

Got to be kidding...You look at what the accident was and determine from there. A rear bumper replacement may be worth a small discount and that’s it.

Ferrari’s generally have poor paint jobs so a repainted bumper may be doing you a favour. When my Lusso arrived it came with the worst paint job I have even seen...no paint correction was possible... the hood and fender needed to be repainted. I have no idea how these cars leave the factory the way they do.

When body shops get a hold of a car from an accident they tend to inflate the scope of repairs...making the cost of the claim makes the accident seem so much worse then it truly was. My friend had a cab lightly roll into his rear end of this 458 Spider at a light. There was a minor crack in the bumper near the exhaust. It could have easily been touched up and repainted. The dealer replaced the bumper, exhaust, undercarriage, (for there was a hairline crack near one of the screws, may have been pre-existing for my Spider had the same hairline crack with my under tray as well) Final repair bill was almost $60 k Canadian. My friend was hit with the $50,000 extra depreciation cost to his car on trade in. Whoever bought his car got a great deal for the repairs were so minor and inflated.

 

You just summarized my point "$50,000.00" in depreciation. A accident or storied car is very hard to sell unless at a significant discount . To me... it's not worth the headaches.

 

I can't believe a dealer has a CPO Ferrari with a ding on a car fax.
I don't think a minor incident on a car is a big deal but surprised a dealer can sell it as a CPO with a car fax. Most dealers have you send them the car fax and if there is one small blemish on it they won't consign it or resell it. They will just wholesale it at auction

 

100% true

 

If it's a fully documented low dollar incident $10k or less. I would look for a 10-15% discount.

 

+1
While I agree its unfair and most times ridicules, its also a fact of exotic car ownership. A car with accident history is worth way less than one without. its also much harder to sell.

So whats that worth? Ive seen 20-33% discounts here in this fourm and it still took a lot of time and effort for the seller.

Why would you bother? There are other 488s available. Whomever buys the car with the story will have to deal with it when they sell it. And thats another story.....

 

Why does anyone bother with collision insurance given this reality? Seems like it's typically more expensive to take the insurance money because of the ding on carfax.

 

This is where the "before" pictures really come in handy. A minor bumper respray isn't anything to worry about, which usually comes as a classic parking bump or even rock chips. Anytime I look at a used car, I always have a paint thickness gauge/tool with me, minor fluctuations are always there straight from the factory on any car, but drastic shift in paint thickness indicates it was repainted, we're talking about micrometers here). Plastic panels require a very expensive tool, but they're almost always minor issues. If a metal panel needed to be resprayed (tool costs $80-120), that's where I draw the line, whereby a side collision, or a front/rear collision was so major, it impacted parts well beyond the bumper.

If it's CPO, then chances are it's a very minor issue, but photos are a must on a car of this price... negotiate a good price if all other parts of the car/features are to your liking.