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marcmc8867
02-25-2003, 11:04 AM
My car is an \'03 M3 SMG coupe...see my sig.

Its got 5k miles on it, and was wrecked New Year\'s Day. i should be getting it back early next week.

The damage sounds worse than it was...
The 3 left side airbags deployed.
My front bumper was destroyed.
My hood had a slight dent, but body shop opted to replace.
Front fenders had no damage at all.

the front suspension was replaced as well as the steering rack.

the rocker panels were replaced.
the rear valance was replaced.
the rear bumper had to be repainted due to scratches behind the rear wheels.

My SSR Gt3\'s w/S03\'s had to be replaced.
My Dynashield kit will have to be re-done.

Otherwise, there will be some paint blending necessary.


Total damage will be between $15-20k...largely due to the wheels and dynashield (together over 5k), the airbags (probably 5k or more).

Mechanically, the car held up well. I\'m not too worried about the front suspension and steering rack. I\'ll be changing the suspension soon anyway...to Ground Control C/o\'s.

I\'m just glad the engine and transmission were unscathed.

for more of the story, check this link:
http://forums.roadfly.org/bmw/forums/e46m3/forum.php?postid=833770&page=2


Obviously, the carfax is going to show that I had a significant wreck. However, it is being repaired at a BMW dealership with the best body shop facility in the area...and I believe that they\'re doing things right. The car should be as good as new provided that the work is done right.
And considering all that time, effort, money, and mods that I\'ve put into this thing (a lot since the wreck...Brembos, ground control, etc. that I\'ll be installing later), I do intend to keep it and enjoy it as I otherwise would.

i\'m wondering though, how much do you guys think my car has lost its value due to the wreck?
When I go to sell it in a couple years, do you think the Carfax will be worth 3-5k off what the car should otherwise be worth?

I\'m considering trying to hit my insurance co. up for the diminished value. They can pay to get the vehicle itself back to normal, but the value won\'t be back to normal.

any thoughts would be appreciated.<br>MHM3 (formerly imola cab23)


2003 M3 Coupe
Carbon Black/Cinnamon/Aluminum
SMG, PDC, Premium, CWP, Bi-Xenon, NAV, Width-Adj. Seats, H/K
Aluminum Pedals, Voice Activation, BMW alarm.

Dynashield, Formula One Tint 15% Charcoal.

Eisenman Race 83mm Exhaust.
Supersprint Connecting Pipe w/o Resonator
BMW Euro rotors, cryogenically treated...FRONTS FOR SALE, SEE CLASSIFIEDS

SSR GT3 19's Satin finish w/Bridgestone S03's.
OEM 19's with Continentals...SOLD
SSR Competition Anthracite 9.5 front and rear with 265/35/WR-18 Kumho Ecsta V700 competition tires
OEM 18's w/ Michelin Alpin winters/Michelin Pilot Sport

NAV-TV with Sanyo 10-disc DVD changer.
Valentine One.

Bimmian Carbon Black painted reflectors.
PIAA Xtreme White 9006 fog bulbs.
Silvervision front turn-signal bulbs.
Platinumvision rear turn-signal bulbs.
Bertelsmann M3 car cover.

Not yet installed:
Ground Control Sway Bars
Brembo Gran Turismo brake kit all around


Later on:
Ground Control Coilovers
Sirius Satellite Radio
KVH Industries Satellite TV

ex-2001 M3 Convertible
Imola Red/black
40k miles 5/01-10/02

<img src="http://members.roadfly.org/marcmc8867/03M3 at house-2.JPG" height=540 width=708>

Tri
02-25-2003, 11:13 AM

marcmc8867
02-25-2003, 11:16 AM
<br>MHM3 (formerly imola cab23)


2003 M3 Coupe
Carbon Black/Cinnamon/Aluminum
SMG, PDC, Premium, CWP, Bi-Xenon, NAV, Width-Adj. Seats, H/K
Aluminum Pedals, Voice Activation, BMW alarm.

Dynashield, Formula One Tint 15% Charcoal.

Eisenman Race 83mm Exhaust.
Supersprint Connecting Pipe w/o Resonator
BMW Euro rotors, cryogenically treated...FRONTS FOR SALE, SEE CLASSIFIEDS

SSR GT3 19's Satin finish w/Bridgestone S03's.
OEM 19's with Continentals...SOLD
SSR Competition Anthracite 9.5 front and rear with 265/35/WR-18 Kumho Ecsta V700 competition tires
OEM 18's w/ Michelin Alpin winters/Michelin Pilot Sport

NAV-TV with Sanyo 10-disc DVD changer.
Valentine One.

Bimmian Carbon Black painted reflectors.
PIAA Xtreme White 9006 fog bulbs.
Silvervision front turn-signal bulbs.
Platinumvision rear turn-signal bulbs.
Bertelsmann M3 car cover.

Not yet installed:
Ground Control Sway Bars
Brembo Gran Turismo brake kit all around


Later on:
Ground Control Coilovers
Sirius Satellite Radio
KVH Industries Satellite TV

ex-2001 M3 Convertible
Imola Red/black
40k miles 5/01-10/02

<img src="http://members.roadfly.org/marcmc8867/03M3 at house-2.JPG" height=540 width=708>

loday22
02-25-2003, 11:31 AM

Driver99
02-25-2003, 11:35 AM
diminished value. I tried that once. While it is a viable argument on your part they are only interested in making the car back to it's original condition, sometimes not even that.

I did eventually sell the car ('99 4Runner) I'm talking about and lost very little. I went over, thoroughly, with the buyer what happened and let them know I had the work done by the best body people. They weren't overly concerned, I think I lost $1K due to the accident. The M3 is a different car with different potential buyers, you'll lose a little more but forget about it. Any additional loss is likely to be less than one of your mods. Enjoy your car. <br>SilG/Blk, SMG, PP, CWP, AdjSB, BiX, HK
PC Delivery 5/1/03...

Bob
02-25-2003, 11:49 AM
<br>
-------------------------------------------------------------

Bob M
'03 M3 Cab TiSil/Cin, SMG, HK, NAV, etc.
'86 944T Graphite/Black
San Diego

butchv
02-25-2003, 11:58 AM
Hey, there! You sure you don't need me to break-in those brembos for you? :P

Anyway, I'd hold off on the diminished value claim since you're planning on keeping it for awhile already and I also think it'd be very hard to establish - the burden is on you to prove the diminished value. The harder you push, the more incentive they have to defend, which means they'd eventually try to point to your wheels/suspension/brakes/etc as "likely indicators" that it was *your* driving style as root cause, ergo no coverage for you! Yeah, I'm cynical that way...

Right now, you've already got the insurance company covering the repair claim, so that's a good thing. Now, whether or not it's right, that company has added you to the bucket of people to consider for future coverage due to claim history. Adding a 'diminished value' claim could, in turn, diminish your value to them as a customer.

It's definitely happening with homeowners' insurance, where the debate is whether to file a claim at all, regardless of whether it's covered by your insurance. Yes, it's a ludicrous situation, but given the choice of having insurance vs. not, most would opt to keep coverage.

Just my $0.02 during a lull in production issues!
ButchV

Ennui
02-25-2003, 12:04 PM

mact3333
02-25-2003, 12:45 PM
Freind did similar did similar damage to his Boxster S and because car wasnt totaled, it never showed up on Carfax. I dont trust Crafax anymore. His damage was 27K. BTW, thanks for the rotors!

abster
02-25-2003, 12:47 PM
Some states specifically do not allow suing for diminished value.

Depending on who you sell it to, you might see a big drop on the car. Trading it in at the dealer is going to cost you quite a bit. A private sale might be better but then I wouldn't buy a used M3 with an accident. . .

I had a similar situation with my Audi. When I went to trade it in for my M3, the dealer dropped its value from 13k to 8K when they learned about the accident (which was pretty minor, $1200). I decided to keep my car. . .

scorpio
02-25-2003, 12:49 PM
Red-light-runner smacked into me ('02 M3 cpe 6-spd) in Sept '02. I immediately went to BMW dealer, even before repairs started, to get value of car if no accident: $46,000-47,000. I also got on the list for a new M3.

Seven weeks or so later I got my car back. $10K repair bill, all paid by the other guy's insurance.

I took the repaired car in to dealer to get actual trade-in value: $41,500. Diminished value: $4,500-5,500.

BUT...insurance company only paid me $1,500. And, no, I didn't sue for more; would have only cost more money. I'd never come out straight. Besides, after 5 months of fooling around with all this, waiting for new car, finally getting it -- heck, I just want the whole thing behind me.

mact3333
02-25-2003, 12:54 PM
you only lose this value if you sell the car...if you keep it and enjoy it, you lose no value...Im sure it will run very well and I doubt you will be able to tell difference unless they did a bad job of fixing it.

JetblackM3
02-25-2003, 12:57 PM

JimNY
02-25-2003, 01:07 PM
registrations across the country and accidents are not part of it unless there are salvage titles etc.

As for selling later, it depends on how good your body shop is. Trading it in involves the skill of the appraiser. If the body shop did a good job, you can't tell the body work unless you are really good.

But since you are doing it at a dealer, if they enter all of this into the computer then all dealers will know about it... On the flip side, since you are keeping it for many years to come, at least 5-6 years, the diminished value would be almost meaningless by that time.

Agent7
02-25-2003, 01:14 PM
diminished value from your insurance company. If it was someone else's fault, you'll get about $4K in diminished value from his insurance company. They'll put you thru the ringer before they give it to you, but if you are persistant, they'll eventually pay you. <br>






Agent7 Austin,Texas
<img src="http://members.roadfly.com/agent7/sig.jpg">

stu
02-25-2003, 01:23 PM
Sell it privately and you'll be fine.

Des
02-25-2003, 01:50 PM

StoneWalk
02-25-2003, 03:00 PM
I don't believe carFax follows major repairs, engine replacements or anything else other than a car being totalled and sold under a salvage title.

I've never seen such notations on a carfax report. I have seen: Salvage title, rental registry, fleet registry, failed smog tests, and things like that. Nothing else.
<br>
StoneWalk, Ventura California
<img src="http://members.roadfly.com/stonewalk/M3lagunaSeca2a.jpg">


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