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If you’ve been in a car accident, you probably know that the very history of an accident can damage your car’s value. Services like Carfax and Experian give buyers a more complete picture against dishonest sellers. Keep Repair Receipts and Stress Value, Safety. It’s important to keep careful records of accident repairs if you plan to sell your car at a later date. Accidents happen, and smart buyers will understand that most of them are relatively minor fender-benders that do not affect a car’s actual performance. And since you only accept high-quality auto body and mechanical services for your car, you can argue that it actually looks and/or performs better than most cars its age that are on the road. Sometimes, repairs are like knee replacements: they bring up looks and performance a notch or two. Don’t rely on Carfax to be honest. Be truthful yourself. Invite a potential buyer to bring the vehicle to his or her mechanic for a test drive and show the repair receipts. Mechanics and body shops know what collision repair services properly restore cars and what ones specialize in quick fixes. A Solid Repair Job Can Restore Your Car’s Performance But Not Always Its Value. Even the best repair job that hides virtually all evidence of an accident won’t save your car from some devaluation. Depending on its age, a car can lose as much as one-third of its value, as ABC News’ Elisabeth Leamy learned a few years ago when another driver hit the car she had owned for just five months at the time. Drivers who are not at fault in an accident can ask for additional payment from their insurance company to make up for the diminished value, which Leamy says insurers aren’t likely to accept. She suggests taking the insurance company to small claims court or looking into an attorney who specializes in getting payments for diminished value. Diminished value is more of a problem with new cars and high-end luxury ones. For more modest and older cars, an accident history may have little or even no impact, according to city-data.com. Furthermore, repairs for minor damage—which most cars eventually sustain—may be negligible with proper repairs using original equipment manufacturer (OEM) parts, superior paint matching, and other services that indicate high-quality repair and attention to details. A Well-Repaired Vehicle is Worth Holding Onto. As a car owner, you want the best repair possible from a reputable shop that guarantees and warranties its work. Look at it this way: a car that has been properly and professionally repaired is like getting a late model vehicle at minimum cost to you. Repairs after an accident may in fact fix other trifling problems you were willing to overlook and in essence, deliver a better car than the one you had the day before the accident. Think of this as a bonus and incentive to keep the car for a longer period of time. In addition to looking forward to life after car payments, you will enjoy lower property taxes on your car as it ages.
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