Your car typically depreciates from the minute you drive it off the lot, but a crash can really do a number on your vehicle’s value. There are, however, ways to minimize that depreciation, or, in rare cases, even enhance the value of your car after a collision. Whether you’re planning to trade in your vehicle soon, sell it later on or drive it for years, you’ll want to understand how collision repairs can affect your vehicle’s value.
Fix the damage
If you plan to sell or trade in your car, it’s important to have any damage repaired as soon as you can. Even minor dents and dings can cause a major loss in value, giving a potential buyer a poor impression of your car’s maintenance history and overall worth.
If you change your mind down the line and decide to make the repairs, you might also find that the original dents have grown more unsightly as rust sets in. A skilled paintless dent repair (PDR) technician will be able to assess your car’s damage and talk to you about different options when it comes to repairs.
Even if you plan to keep the car and you’re not terribly concerned about its resale value, it’s still smart to have dents examined. Larger structural problems could be uncovered—ones that affect the safety of your vehicle.
Enhance the car
When making repairs, your main goal will be returning your vehicle to its pre-accident condition. Ask about whether new, aftermarket or recycled parts will be used. Choosing quality parts will help ensure that your vehicle functions safely and maintains its value.
You can also consider upgrades, especially if you’re driving an older model car that needs some maintenance work. Performance upgrades can, in some cases, increase the value of your car despite its accident history. A new coat of paint also often improves the overall look of your car—helping show that it’s been well cared for and maintained.
Make a claim
In Georgia, drivers who were involved in an accident that was not their fault can file a diminished value claim with the other driver’s insurance company. Essentially, this is the money that you’d lose out on if you were to sell the car. Before filing a claim, you’ll need to have a good understanding of your car’s Blue Book value before the crash, as well as the expected depreciation caused by the damage.
If you’ve been involved in a crash, contact Bavarian Body Works to schedule an inspection.
Our trained technicians have experience in all types of dent repair and body damage. We’ll evaluate your car’s condition and discuss replacement options with you, always with a focus on your safety. Contact us today for more information.