It lingers in the forefront of your mind every time you look at your damaged car… What’s my car worth?What effect has the accident had on my car’s value? You can find out how much your damaged car worth is now, or read on for details on how much a car value drops after an accident.
The Effect of an Accident on a Car's Value
Before the accident, your car was a prized possession. You cared for it. And, it cared for you. After the car wreck, you may have had it repaired. Now, it looks good, but something is off. Or, you didn't have it repaired, and now it's sitting there as a damaged version of its former self.
With an un-repaired car, it's easy to see why it has less value. However, sometimes it's not quite as easy to see why your car is worthless. I mean, it looks like new, so it should be worth what it was before, right? Wrong. Cash for cars is always an option and this post will explain what effect a car accident has on a car's worth for both repaired and unrepaired vehicles. Accident's effect on a repaired car's value?
Car Value After an Accident
This is a bit of a loaded question, and there isn't really a clear answer. It all comes down to: How bad was the accident to begin with? And, who's answering the question? The insurance company? A car dealership's trade-in appraiser? You could say that car valuation after an accident has a lot of moving parts.
So, how much does car value drop after an accident? The severity of the accident question is the most straight-forward. If your accident was more of a fender bender with a broken headlight that was replaced with a new part, the accident won't have much of an effect on the car's value as the repair won't really be visible. If your car is totaled, and you have a salvage car on your hands, you could be looking at up to a 50% value drop.