Rear-ended...how much value loss?

[sdiver68]

We love our '20 JLU and got it for a steal of a lease deal. Its a Sport S but loaded including SOT. However, that lease end in May so we can buy it out or look for another.

Unfortunately it was hit while parked in the rear so it's a 1 owner 1 accident car. At the time of the claim, I tried for diminished value but only the lease company as owner can do that and they declined. It was fixed like new at the Jeep dealership.

Without the accident it's probably worth my buyout around $35k. But I hesitate to buy into negative equity with the accident.

Any idea how much a minor accident reduces value on these?

To buy another similarly equipped would be in the mid 50's...at which point I'd probably buy a 4XE for $60k after negotiations and take the $7500.

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[cripton805]

How bad was it hit?

Why don't you just keep it? The value only affects it if you sell it private party. I don't think a dealership would care. They always try to give the low KBB Trade In Value anyway regardless of condition.

 

[sdiver68]

How bad was it hit?

Why don't you just keep it? The value only affects it if you sell it private party. I don't think a dealership would care. They always try to give the low KBB Trade In Value anyway regardless of condition.

New spare wheel, new rear door, some misc pieces. But didn't get to the bumper. BMW X5 that hit me faired far worse.

I can keep it..just wary of buying into negative equity.

 

[Geronimo]

Bolt on replaced parts, no frame damage new tire carrier,,,,Already repaired. Whats the problem. Buy a new one and it will be that much different as soon as you sign the paper.

You know the vehicle and If you like it keep it. That's what matters at this point. IMHO, for what that's worth

 

[Shibadog]

Bolt on replaced parts, no frame damage new tire carrier,,,,Already repaired. Whats the problem. Buy a new one and it will be that much different as soon as you sign the paper.

You know the vehicle and If you like it keep it. That's what matters at this point. IMHO, for what that's worth

This. Use the money a new one’d cost to fund some nice trips?

 

[Deleted User 38384]

...just wary of buying into negative equity.

Maybe I'm just weird guy, but you're thinking of it as a financial investment. Jeeps are a way of life, buy it for the love of the vehicle, the price shouldn't really matter as much.

I used to own a 2016 Jeep Patriot. I enjoyed that vehicle quite a bit, and I really wanted to do some crazy stuff to it like I'm doing to my Wrangler right now. But I owned that vehicle to sell it. So I had to keep it as pristine as I could, so as not to lower the value of it when I sold it. It was bought to be sold, something I don't plan on ever doing again.

@sdiver68 My only recommendation, buy something you love, something you have no intention of selling! Because then price doesn't really matter, you're buying into a passion, and that really doesn't have a value, It's something you can't put a price on.

 

[cripton805]

When I get a small hit. I just cash out and install (new looking) pre-owned parts.

I have cashed out a few times because people seem to hit my cars every year or every other year. ?

I avoid shops messing something up, not matching paint, or taking forever for parts / fix. I also trust myself on installs if you're handy.

Seems like very minor damage. I would keep it. IMO. You will end up spending so much more money with todays prices and rates. It's just not worth it.

**If you can't fix it, let the shop fix it. You will still save money. The prices and rates are ridiculous.

 

[gsbrockman]

This. Use the money a new one’d cost to fund some nice trips?

And this....#2.

 

[The Last Cowboy]

Price a new one, and then the decision is easy. Keep it.

The damage you described was only cosmetic, nothing that involved the frame or mechanical parts.

 

[[DELETED USER 82058]]

Buy a new one right now and drive it off the lot…you’ll take just as big of a loss if not more

 

[LCW]

Lease? Accident? Walk away boy.

 

[Shark01]

I've been through this a few times.....firstly, what does the CarFax say? Did you get the shop record for the repair....how much was it to fix?

 

[sdiver68]

I've been through this a few times.....firstly, what does the CarFax say? Did you get the shop record for the repair....how much was it to fix?

I had not run the carfax yet because I assumed the accident was there and have until early May. But...no accident!

I have the invoice...it was about $3500 to fix.

 

[mrtm1970]

Like others have said…If you love this Jeep, keep it! The damage was so minor and even if it showed up on Carfax, it would show up as minor and no frame damage (which most in the know would know that is what matters).

 

[missionale]

We love our '20 JLU and got it for a steal of a lease deal. Its a Sport S but loaded including SOT. However, that lease end in May so we can buy it out or look for another.

Unfortunately it was hit while parked in the rear so it's a 1 owner 1 accident car. At the time of the claim, I tried for diminished value but only the lease company as owner can do that and they declined. It was fixed like new at the Jeep dealership.

Without the accident it's probably worth my buyout around $35k. But I hesitate to buy into negative equity with the accident.

Any idea how much a minor accident reduces value on these?

To buy another similarly equipped would be in the mid 50's...at which point I'd probably buy a 4XE for $60k after negotiations and take the $7500.

I can't imagine how that would feel - at least it wasn't parked in the front.....ok, it's been a long day -

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