Accidents & Resale Value
What can you do to recoup your investment in bad situations
The value of your vehicle drops after it’s been in an accident. The accident doesn’t have to be a big one to affect your car’s value; even a small fender-bender can affect your resale value if the repairs are done improperly. To ensure you get the most out of your car when it comes time to sell it or trade it in, it is important to get a qualified shop to handle the repairs. Ideally, you want to get your vehicle as close to its pre-accident condition as possible.
How Do Dealerships Know You’ve Had an Accident?
Auto dealerships will know if you have claimed any damage through ICBC insurance by checking the Vehicle History Report, which is available on the ICBC website. Even if you get the damage repaired perfectly, the dealership will know if you made a claim.
There are several companies that specialize in providing vehicle history reports, and if your car has had repairs done in the past, this will affect the amount the dealership is willing to offer you for a trade-in.
Type of Damage
Dealerships hesitate to take a car with obvious damage because they are nearly impossible to sell. The dealership will either have to invest in the repairs themselves, or offload the car at an auction. If your vehicle was totaled and rebuilt, it will gain status as a “rebuild” which is a big red flag for buyers. Vehicles that have undergone significant damage and repair are risky buys, and the price reflects that.
Quality of Repairs
Imagine you were at a used car lot or dealership looking to buy a pre-owned car. How much attention would you pay to cars that are damaged? Probably not much, and that is why dealerships and car lots are reluctant to take damaged cars. Hard to sell cars take up valuable real-estate that could be occupied by better cars. The only way to get a fair value on your car when you sell it or trade it in is to invest in high-quality repairs.
How We Can Help
If you have had a major accident, you definitely need to go through ICBC to help shoulder the cost of major repairs. However, if your vehicle has a beat up bumper, scrapes on the rims or fenders, dented rocker panels, or other small issues, this is where we can save you a ton of cash and increase your resale value.
Since we are able to get most small paint jobs done for less than your deductible, you will actually save money going with Island Color. The side benefit is that since these will not be claimed through ICBC, they will not show up in a vehicle history report. Check out our portfolio to see the quality of the work, you will be blown away by what you see.
If you need a small collision repair, bumper repair, rim repair, fenders, or rocker repair, just click through to see how to take the next step in making an appointment. We can repair any damage – dents, scrapes, and gouges – for much less than your insurance deductible, as long as there is no structural damage to the chassis. As always, if you are sure to get all repairs done by a qualified professional, your car can get back on the road safely and no one will ever know. Let’s keep that between you and me 🙂