- Ashley Toth
How accidents reduce vehicle value
DOES AN ACCIDENT REDUCE THE VALUE OF A CAR?
Yes. Your car can also lose a significant amount of its value if it has been involved in a collision. Of course, if your car is completely crushed, its value is going to be damaged significantly; however, even a minor fender-bender can also significantly harm the value of your vehicle because a diminished value claim is registered on the vehicle history report.
TIPS FOR BOOSTING THE VEHICLE’S VALUE FOLLOWING A CRASH
Even though an accident can harm the value of your vehicle, there are ways to maximize your car’s resale value. What are a few points you should note?
MAKE THE NECESSARY REPAIRS
The first thing you need to do is make the necessary repairs. There is a good chance that your insurance company is going to ask an adjuster to take a look at your vehicle; however, you also control the body shop to which your car goes. Therefore, make sure your vehicle is inspected by a trusted and experienced car mechanic that you know and trust. That way, you can figure out what the necessary repairs are. If you make the necessary repairs to your vehicle, it will show that you are taking care of it and work towards increasing its value.
USE THE RIGHT PARTS TO REPAIR BODY DAMAGE
Finally, you also need to repair any body damage your car has suffered using the right parts. Even though you may think you can save money on the cost of repairs by going with some discount parts, these parts are
not going to last as long. As a result, you may end up back in the body shop dealing with major repairs later. Work with a mechanic who understands exactly what type of parts your car needs. This will maximize its value if you decide to sell it later. That is where we can help you.