How is diminished value figured?
Asked by Guru98BP4K May 11, 2022 at 01:56 PM about the 2017 BMW i3 94 Ah RWD with Range Extender
Question type: Shopping & Pricing
What is the diminished value on a loaded 2017 BMW I-3 REX. Having been in
a reported accident, Sideswiped, no air bag deployment. Now repaired 2-
owner. 36000-miles.
How much does this report affect the market value?
Thank you.
2 Answers
VRoom12345 answered 2 years ago
In the past it was a certain percentage, 20 to 50 less. But in todays market, might be much less to nothing if the repair is good and the vehicle is in Excellent shape. It also depends on who is buying it. Trading it in on a deal you will get less, and the dealer will use the repair as a big negative. Be honest upfront and see what buyer will give you.
Hmmmmm, 5 years old and getting ready for owner number 3? If the first owner was a lease you can disregard that. But how soon after the accident did the vehicle go up for sale and/or how long did the last owner have it? Was there a lien on the vehicle when owner number two bought it? If so they probably didn't have it long enough to pay for it! Was it a repo? Or did they just trade it back in after having it a short time? I'd be very suspicious of the vehicle and want those questions answered. It may be a problem vehicle because it was not repaired correctly after the accident! Proceed with caution! BMWs are not cheap to fix!! Hope that helps! Jim
