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Discussion Starter · #1 ·
Just got back my 2013 Hyundai Santa Fe Sport 2.0 AWD, after 2 months of repair. She was missed. 11k in repairs and you can't even tell she was hit. Looking for opinions on what would you do Keep or trade in. 8k miles on odometer and she runs like a champ. Just took a trip to Santa Barbara and averaged 24 mpg calculated by hand. Here are before and after pics.
 

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You might want to get some numbers on trade-in. The diminished value of the vehicle due to a major accident may be a big surprise to you, and should factor in to your future plans.
 

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Very, very few are made whole John. It takes a decidedly muscular approach even to get insurance companies to accept the reality of DV at all, let alone to make with the cash. Unfortunate but true.
 

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Very, very few are made whole John. It takes a decidedly muscular approach even to get insurance companies to accept the reality of DV at all, let alone to make with the cash. Unfortunate but true.
The OP said "Looking for opinions on what would you do Keep or trade in". I would consider trading in if I was compensated, and depending on how much, for the "diminished value" due to the accident. That compensation could go a long way to cover the cost of a trade in.

Assuming a Hyundai dealer handled the repair, I'd ask them for their best deal on trading in the 2013 for a 2014 for a few reasons:
1. It would be difficult for them to bring up the diminished value issue. That would be like them saying they didn't make you whole,
2. I like the features the 2014 has that the 2013 doesn't have,
3. I'd prefer not to have a car that was in an accident,
4. Later in time, when you want to trade, or sell, the accident will show up on a carfax and be an issue.

Just my 2 cents for what I would consider doing.
John
 

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How long does it take for a Carfax to post an accident? Could you beat it with a quick trade? Anyone know? Heck, dealers sell cars that have been in accidents all the time. They just don't say anything. They expect the buyer to bring up the subject AND Carfax.
 

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If the frame wasn't bent and there are no creaks or leaks, keep it.
 

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The OP said "Looking for opinions on what would you do Keep or trade in". I would consider trading in if I was compensated, and depending on how much, for the "diminished value" due to the accident. That compensation could go a long way to cover the cost of a trade in.

Assuming a Hyundai dealer handled the repair, I'd ask them for their best deal on trading in the 2013 for a 2014 for a few reasons:
1. It would be difficult for them to bring up the diminished value issue. That would be like them saying they didn't make you whole,
2. I like the features the 2014 has that the 2013 doesn't have,
3. I'd prefer not to have a car that was in an accident,
4. Later in time, when you want to trade, or sell, the accident will show up on a carfax and be an issue.

Just my 2 cents for what I would consider doing.
John
I think you may be misunderstanding the DV issue. DV represents a loss in value to the owner of the car and has NOTHING to do with the dealer or repair shop that handled the accident repair. Such a shop can do the best work imaginable, but the value of the repaired vehicle is still diminished simply by virtue of the fact that it was involved in an accident. As you yourself point out, you would avoid (or heavily discount) a similar vehicle. The dealer cannot be held responsible for your reluctance to buy a previously damaged vehicle even though the quality of the repair was excellent. Also, keep in mind that dealer repair shops are separate profit centers than used car operations at all dealerships I have ever dealt with. I suggested that the OP get some idea of his DV exposure NOW so that his decision-making on the vehicle's future is based on the unfortunate NEW reality rather than the one that existed prior to the accident/repair. The difference could be a substantial amount of money. This difference will, of course, diminish over time as the vehicle's value depreciates. At some point, it disappears altogether once the vehicle's value nears zero.

The ONLY entity that can make the owner whole is the insurance company compensating the owner for the loss he has suffered. That loss is represented by the sum of the costs to repair the vehicle mechanically and the diminished value to the specific vehicle based on the market's discounting of previously damaged vehicles in general.

You have already inferred the methodology involved in calculating DV: ask used car buyers what they would pay for a vehicle in both undamaged and damaged/repaired conditions. By making blind calls to dealers as well as analyzing Carfax data, an very good estimate of the DV can be arrived at.

Once the DV has been quantified, it then becomes the task to get the insurance company handling the damage claim to include DV as a legitimate casualty item and then to pay a reasonable amount to defray the loss. This is a growing field in automotive insurance claims, and it takes experienced professionals to bring the insurance companies to heel on behalf of the claimant. As I said previously, there are some very highly respected firms in Florida that have good track records bringing home the DV bacon from usually tight-fisted insurance companies.
 

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Discussion Starter · #11 ·
The accident is a little complicated, the vehicle that hit me was hit from behind and she lost control veered into the right side wall and bounced off and hit a Silverado in the rear and then bounced off that and rammed me on the passenger side. The vehicle that hit her was a Scion and he took off. So my insurance picked up the tab for the repairs and i have a lawyer working on the injury part. She's told me that it would be hard to go after dimished value. I'm really tempted to trade in just because there are issues with fitment that they are adjusting. There's also a rattle that my wife says she hears from the passenger side but i cannot hear. They need to redo the shade hooks, they installed them backwards. Makes me nervous what else they did wrong. Lifetime warranty on the repair at least for as long as i own the vehicle paint included.
 

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Lifetime warranty on the repair at least for as long as i own the vehicle paint included.
Do you think that this offer is so readily provided nowadays because the insurance/repair shops know, statistically speaking, most of us "original" owners only keep a car a few years before we trade up? Nice "warm and fuzzy" feature for the owner. But it's nice to have when you find something they missed! Nice, indeed!
 

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Getting compensated for diminished value is indeed difficult, but worth pursuing. Accidents like this were not as big of a deal years ago, regarding trade in/resale values, but with Carfax, etc. it really can brand the vehicle.

Case in point, My wife's Infiniti was rear ended, twice. Total bill for both repairs was $18,000.00 (10,000 + 8,000). The Infiniti was repaired well, and there was no residual damage either time, after repair. When she was shopping for a new vehicle last month, every dealer wanted to take it in trade, until they pulled the Carfax. Thankfully, it was a leased vehicle, so she waited a month till the lease was up, and simply turned it back to Infiniti. If we had "owned" the Infiniti, it could have been an expensive experience.
 
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