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Old 08-23-2012, 10:43 PM   #27
ha9981
1st Gear Newbie
 
Join Date: May 2012
Location: Toronto
Posts: 49
Quote:
Originally Posted by cisco911 View Post
What people are saying about value of the car is true. The car looks like it is in great shape and worth every penny. However, you also have to look at it from a purely financial point of view. A car that has a rebuilt title will always be worth less than a car that doesn't have a rebuilt title assuming same condition. Unless a seller can prove that the damage was minor, a potential buyer will be worried as to what the actual damage was. It could be minor or it could have taken a completely new front clip...or maybe it was water damaged (which is almost impossible to detect). These are all the things that a buyer will have on his mind and will lower the price of the car due to the potential for costly repairs down the line and because when they have to resell th vehicle later on, they will also have to sell to people that will have the same mindset. I'm not saying this is the case for your car, but that is the logic from a buyer's point of view.

Also, why would an insurance company write off a car than needs so little work? Bumper, fender, and hood plus paint might come to like $2-3K. That is minimal compared to the actual value of the vehicle.
It is never only 2-3k in the eyes of insurance companies. Moreover, this could have happened when the car was work 60k. No shop would have even touched it for insurance covered repairs for less than 10k.
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