Car Appraisal Advice

#1
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VolnTitan

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#1
So where best place to get a fair appraisal in this instance. My daughter was in the process of looking for a car when someone rear ended her. She got it fixed thru State Farm and my contention was that now her car is of lesser trade in value due to the accident (there was small frame damage that needed repair). They said we could get an appraisal and then come back and apply for diminished value. We did the Carmax apprasial but their appraisal was $2000, while NADA is $4800 for average. I feel this is pretty low and don't know if Carmax does fair appraisals. I know most dealers seem to not want to give you an appraisal unless you are ready to buy. Before she buys, we need to get this settled with the insurance.

Also...where is the best place to get a good used car? I know the carmax's of the world, but didn't know if better place (nashville). My daughter has a 2007 Rabbit. She would love a CRV like small SUV, but for around $15000, seems like you will have to get one with a ton of miles.
 
#2
#2
Carmax is actually really fair on appraisals. In terms of the value you recieved from them, you have to look at it from their role. They probably have about 100+ rabbits just like your daughters. Most of which they likely paid nada value for. Problem is that your vehicle has damage which likely shows on a car fax. They have complimentary car fax on their website, so every buyer can look at it. If you were looking at two identical vehicles that were the same price, but one had an accident on its record, which would you buy?

To get the most money, you will need to sell it yourself.
 
#3
#3
I've heard numerous people complain about CarMax appraisals. I have first hand experience at them offering at/below wholesale. The value was at/below wholesale. My truck has been in no accidents. Condition was good. The only blemish was a small tear in the drivers seat. I traded my truck in two years later, it had about 20,000 additional miles, and was offered a little more than double what CarMax had offered. And for those talking about getting me on the other side, I paid $4,000 less than the asking price.
 
#4
#4
I'm not saying Carmax was fair or unfair. What I need is a fair appraisal for her car so I can take that back to State Farm and put in a diminished value claim. The NADA value for her car in avg. condition is $4800 for Trade-in. We took the car to Carmax before we got it fixed and the offer was $1000. After fixed, it was $2000. So my claim to State Farm is to make my daughter "whole" again, they should give her a check for $2800. I just don't know if State Farm will accept that appraisal since it is so low and figured I would need to get another one.
 
#5
#5
VolnTitan said:
I'm not saying Carmax was fair or unfair. What I need is a fair appraisal for her car so I can take that back to State Farm and put in a diminished value claim. The NADA value for her car in avg. condition is $4800 for Trade-in. We took the car to Carmax before we got it fixed and the offer was $1000. After fixed, it was $2000. So my claim to State Farm is to make my daughter "whole" again, they should give her a check for $2800. I just don't know if State Farm will accept that appraisal since it is so low and figured I would need to get another one.
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I understand. Does this appraisal have to be in writing? You can go to any dealership and simply tell them that you've got a car for sale and they can appraise it for you.
 
#6
#6
Sell the car yourself.

It's easy and you will get more.

Trade in should be your very, very last option.
 
#8
#8
I've found CarMax appraisals to be pretty reasonable when you consider certain things. Primarily that if they want the car, you get your money immediately without you going through the hassle of selling it yourself.

You can usually sell it yourself for more money...but you're selling it yourself. There's time/stress/effort involved. Is it top dollar? Nope, probably not close, but it's usually reasonable.

I would add, I don't think you can expect to take them something that wouldn't be on their lot and expect a large offer. Its generally not worth their time. Let's say I took a 2000 2WD Silverado 4.3 single cab with 160k miles. I won't be offered anywhere near what I could sell it for.


EDIT: As for the appraisal, What nerd said. Take it to a dealership and have them write something up. Tell them what your looking for CR-V-wise and I doubt they'd have much issue with that.
 
#9
#9
Going to agree with others and advise selling the car privately. You can list it for 4800 and dicker down to 3500 and still come out ahead of where the insurance company and Carmax were willing to go.

That said, for 15 grand, your daughter should be able to find pretty much what she wants without settling for a high mileage vehicle. When I bought my 2011 Fusion last August, it only had 35k, and it was a rental vehicle.
 
#10
#10
NEOCON said:
Sell the car yourself.

It's easy and you will get more.

Trade in should be your very, very last option.
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To get the money from a Diminished Value claim and in a timely manner, we need an appraisal. Selling it privately wouldn't accomplish that.
 
#11
#11
You don't need to get another appraisal. You say the NADA value is $4800 and CarMax has valued it at $2,000 after the wreck and it being fixed. The diminished value should be the difference. State Farm will likely give you a different value of the car (not necessarily go by NADA), but they will give you the difference between their value pre-wreck and the CarMax appraisal.
 
#12
#12
VolnTitan said:
I'm not saying Carmax was fair or unfair. What I need is a fair appraisal for her car so I can take that back to State Farm and put in a diminished value claim.
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Why not ask State Farm what they accept instead of folks here randomly guessing?
 
#14
#14
Nerd-Vol said:
Where's the fun in that?
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Nerd, if I read correctly, you are in car sales?

Got a question, I got a friend that bought a used car from one of these little lots on Clinton Hwy in Knox county three weeks ago. She still has not recieved her permenant tags yet. Is there a set timeline or are you on your own?
 
#15
#15
malinoisvol said:
Nerd, if I read correctly, you are in car sales?

Got a question, I got a friend that bought a used car from one of these little lots on Clinton Hwy in Knox county three weeks ago. She still has not recieved her permenant tags yet. Is there a set timeline or are you on your own?
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They can take as long as 3.5 weeks. Have her give the dealership a call. Some stores may not mail it, you might have to go get it.

Happy motoring!
 
#17
#17
I was a used car manager for 10 years. People get way to cought up in how much they are offering for your trade. It's mostly a numbers game.

When you at a lot that advertises low prices you won't get as much for your trade they are going wholesale to wholesale.

I use to love it when someone had been to a place like car max and told us they only offered us $3000.00 for our car. I'd tell the salesmen to add $2000.00 to whatever we were asking for car and I would show them $5000.00 for trade and I've never come off our price.

What you need to worry about is the difference. If someone is asking 20k for car and giving you 10k for trade and you don't think its enough.

You go to next place and there asking 23k for same car but giving you 12k for your trade in your still paying 1k more. You feel like your doing better because they are giving you 2k more for trade but your paying more.
 
#18
#18
jason3713 said:
I was a used car manager for 10 years. People get way to cought up in how much they are offering for your trade. It's mostly a numbers game.

When you at a lot that advertises low prices you won't get as much for your trade they are going wholesale to wholesale.

I use to love it when someone had been to a place like car max and told us they only offered us $3000.00 for our car. I'd tell the salesmen to add $2000.00 to whatever we were asking for car and I would show them $5000.00 for trade and I've never come off our price.

What you need to worry about is the difference. If someone is asking 20k for car and giving you 10k for trade and you don't think its enough.

You go to next place and there asking 23k for same car but giving you 12k for your trade in your still paying 1k more. You feel like your doing better because they are giving you 2k more for trade but your paying more.
Click to expand...


Only an idiot would buy that way
 
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#19
#19
Biopsyman said:
Only an idiot would buy that way
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Well we averaged selling to about 150 idiots a month for ten years. Most people don't buy lots of cars. #1 concern of most buyers is how much I'm getting for my trade and then how much are my payments.

Lots of people don't care what they pay for a car as long as they can get their payments where they want them.
 
#20
#20
jason3713 said:
Well we averaged selling to about 150 idiots a month for ten years. Most people don't buy lots of cars. #1 concern of most buyers is how much I'm getting for my trade and then how much are my payments.

Lots of people don't care what they pay for a car as long as they can get their payments where they want them.
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This. We are here to help you get what fits your budget. If your budget means a certain monthly payment, then we will do our best to get you there.
 
#21
#21
volwindy said:
You don't need to get another appraisal. You say the NADA value is $4800 and CarMax has valued it at $2,000 after the wreck and it being fixed. The diminished value should be the difference. State Farm will likely give you a different value of the car (not necessarily go by NADA), but they will give you the difference between their value pre-wreck and the CarMax appraisal.
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This is the point I'd make - if they told you to get an appraisal to rep the diminution in value then I'd say you have it. Whatever guide they use for trade value pre-damage compared to what Carmax offered after damage should be a reliable value for diminution of value.
 
#22
#22
jason3713 said:
Well we averaged selling to about 150 idiots a month for ten years. Most people don't buy lots of cars. #1 concern of most buyers is how much I'm getting for my trade and then how much are my payments.

Lots of people don't care what they pay for a car as long as they can get their payments where they want them.
Click to expand...

:ermm:
 
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#23
#23
Nerd-Vol said:
Aren't there only three options?
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I have watched a car been rolled into a lake, caught on fire, put up on blocks and used as a lawn ornament, and flipped over and spun 1080 on High ST after Michigan beat OSU.

There are always options.
 
#24
#24
NEOCON said:
I have watched a car been rolled into a lake, caught on fire, put up on blocks and used as a lawn ornament, and flipped over and spun 1080 on High ST after Michigan beat OSU.

There are always options.
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As a veteran of the Indy 500 infield I can attest that I've seen almost every thing you could do to a car you had no intentions of taking home.

Most of them were flipped over and burned.
 
#25
#25
Nerd-Vol said:
They can take as long as 3.5 weeks. Have her give the dealership a call. Some stores may not mail it, you might have to go get it.

Happy motoring!
Click to expand...

They agreed at time of purchase she would pick it up in two weeks. She went to get it and they told her they hadn't sent it off yet. Now she called yesterday and they told her she needs to come back in and sign another form.
 
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