Help with vehicle value.

[glowdotGlock]

I am in need of some help finding the exact value of a vehicle. There are so many methods of "scoring" a used vehicle.

Here's the case. I had an accident at work where I caught the door of a coworker's vehicle with another vehicle. I got pulled open more than it should, over extending the door hinges. The door closed back but is in need of obvious repair. Her body shop says $2,300 to repair. I don't think so. It's about a 93 half ton Chevrolet 2wd V6 with roughly 220,000 miles. I looked up online and got an approximate value if $1,500 in Excellent condition! So obviously I am not paying the 2,300 for the door when the truck is worth so much less.

My question is: Is there somewhere that I can take the vehicle and have it appraised exactly what it's worth? Something saying hey "here's what she's worth". It would help me negotiate with the owner. I am looking for somewhere in the Columbia/ Spring Hill area.

We are not going through insurance nor filed a report nor is the company involved. It's just me and the vehicle owner coming to an agreement.

Thanks

[runco]

In my view, the value of a vehicle has nothing to do with the cost of the repair. Insurance compaies have spoiled us in that thinking. If the cost to repair is greater than 50% of the residual value, then they total the vehicle and write us a check for what the vehicle costs. I see that is you position. However, to do this right, either repair the vehicle to the owner's satisfaction, or replace the vehicle with a similiar vehicle to the owner's satisfaction. You were the wrong doer, now just make it right to the owner's satisfaction.

[Dolomite_supafly]

A option would be to use the values from NADA as well as KBB and average those two. That should give you a decent idea of what it is worth. If it is you fault I would even compromise and tell her you are going to use the "clean trade in" rather than the "average trade in" which is what it likely is.

Nada lists it at $1,375 for a clean trade in and KBB lists it at $1,633 for average trade in. The average of the two are $1,504 which is right where you are. I think your numbers are fair as long as the truck looks decent and is mecahnically sound other than the damage you caused. If it has any damage at all I would reduce the estimates by a lot more.

You could also try CarMax. They do a lot of business and might be able to assign a value. Might be able to take it to some random car dealer and ask them how much of a trade it it would be if the damage was repaired.

Dolomite

[Lumber_Jack]

I have to agree with Runco, the cost to repair has no bearing on the overall value. If I have a good running vehicle that is valued at $1500, I wouldn't trade it for another $1500 vehicle that may it may not be reliable, I'd want my vehicle fixed.

With that said I've found more reliability in NADA values as far as Internet evaluations.

Now if I were you I would want 3 estimated from different certified repair shops and go from there

[TrickyNicky]

Runco is right on with this one, the value of the truck has about as much to do with the equation as the average price of pork in Israel. Which is to say nothing at all.

Who took the truck in for the quote and where did they take it? I'd personally want to be involved in the estimate process as much as possible. Quite possible she's blowing smoke, or the shop is taking advantage of the fairer sex...

[glowdotGlock]

I agree that it has nothing to do with the value to an extent. She took it to a local "friend of a friend" shop for the estimate. I told her today that I want her to go to two neutral body shops that don't know either one of us and average their two estimates.

Edited October 9, 2012 by glowdotGlock

[Lumber_Jack]

I agree that it has nothing to do with the value to an extent. She took it to a local "friend of a friend" shop for the estimate. I told her today that I want her to go to two neutral body shops that don't know either one of us and average their two estimates.

exactly, this is correct. and if she doesn't want to do that, then its on her. I don't blame you for not trusting the "friends and family estimate"

[LagerHead]

You might also see if you can get the door and parts from Pull-A-Part and then see what it costs to get it painted to match. It might save you a ton of money.

[Hershmeister]

You might also see if you can get the door and parts from Pull-A-Part and then see what it costs to get it painted to match. It might save you a ton of money.

This

[glowdotGlock]

They wouldn't let me try to cheap it. I ended up just settling for 800. Could have been worse. Long story and screwy situation. I need a drink. Thanks guys.

[Lumber_Jack]

They wouldn't let me try to cheap it. I ended up just settling for 800. Could have been worse. Long story and screwy situation. I need a drink. Thanks guys.

Well at least you didn't get suckered into $2000. $800 seems reasonable.

[NRA]

yup 800 you got off easy

[glowdotGlock]

I am happy with that. She finally admitted she was going to leave it alone pretty much. A friend is gonna do a little patchwork on it. It's an old work truck.

[TrickyNicky]

To not have to get insurance company's involved I think you did all right.

Must be an interesting story on how >$2000 turned into $800.

Enjoy your drink, I'll bet you earned it.

[glowdotGlock]

Oh I did

[10-Ring]

I see nothing wrong with keeping the money if someone damages your vehicle and you decide not to fix it. The way i look at it is it is worth that much less when you go to sell it, i.e. I have a $5000 vehicle and Jim hits it causing $2000 worth of damage. It is now worth $3000 or would be worth $5000 if I fixed it.

[runco]

Having been on both sides of the fence in this issue, I do not why people (wrong doers) expend enormous amount of energy to make sure they are treated fair as if they are the victim if they have to pay to fix or compensate someone who they damaged the property of. It’s funny how these same people know who are the low ball body shops in town or in the next town. Or they know someone like their uncle's neighbors kid who is in the local high school's vocational auto body shop, who knows how to fix cars. To me that is just the wrong approach. The wrong doer should make the situation right to the property owner's satisfaction. Not only should the wrongdoer fairly compensate the property owner using reputable shops, they should ask who the property owner who they want to use to repair the vehicle, and should add additional compensation just for the headache and inconvenience. Maybe a $100 dinner gift certificate or something. Finally, if the property owner does not want to make the repairs, that is their choice. When you wrong someone, just make it right. Set examples, raise the bar. Just my 2 cents.

Edited October 10, 2012 by Runco