My Avalanche was involved in an accident

[CPA]

A friend of my wife was using our Avalanche. It was involved in an accident that required about $6K in repairs (back end). There is some frame damage back there. Will the truck now be classified as salvage (ie, Salvaged Title)? I want to sell it in a couple of months and now I'm worried I just lost a lot of value.

 

[se7en]

salvaged = 75% of total value damage done usually.

Depends on the year and condition of the vehicle in question.

Generally when there is frame damage it doesn't go well as that can be expensive to pop on a machine and pull out. But depends on total value of the truck.

 

[Cdubneeddeal]

Doesn't frame damage constitute "Totaled"? So in this case if would be considered a salvaged title. I could be wrong.

 

[SearchMaster]

It probably won't be salvaged, but you should push hard for "diminished value" reimbursement as part of the insurance settlement. A lot of insurers now send you a check for diminished value but you should check to make sure it's the appropriate amount. For example I know someone that got into an accident and Allstate sent them a check for $100 on a 2 year old car...since airbags were deployed, the accident was on Carfax and certainly hurt the value more than $100 even though it was a fairly minor accident.

 

[CPA]

Originally posted by: SearchMaster
It probably won't be salvaged, but you should push hard for "diminished value" reimbursement as part of the insurance settlement. A lot of insurers now send you a check for diminished value but you should check to make sure it's the appropriate amount. For example I know someone that got into an accident and Allstate sent them a check for $100 on a 2 year old car...since airbags were deployed, the accident was on Carfax and certainly hurt the value more than $100 even though it was a fairly minor accident.

The accident hasn't been settled yet. Both myself and the other person involved are Allstate clients. He is actually an Allstate agent. The claims investigators are still gathering evidence. I'll keep this in mind if it goes our way, which I've been told by several folks it should.

The reason I ask is that Carmax states that any frame damage would be considered a salvaged vehicle and they don't resell salvaged vehicles. Instead, they will purchase the vehicle (probably at a very reduced amount) and sell it to a wholesaler.

If the title doesn't say salvaged do I have to legally disclose the accident? Will Carfax have it listed?

 

[alkemyst]

legally you must disclose it if you are asked.

Frame damage does not total a vehicle, however; a reseller like CarMax probably doesn't want to deal with them.

Getting diminished value reimbursement is tricky.