My car's fooked - diminished value?

[gds52]

Sorry for the damage OP. But as u mentioned it's mostly cosmetic, so thats good. Keep the damage pics and all the repair documentation handy. A good buyer(at least me) doesn't mind cosmetic damage as long as chassis is good.

This is one of the reasons I strongly advocate driving your best car as much as you can. On Public roads we always have hazards.
Sorry, but you pampered your car, only drove on weekends, and then with minor crash you are ready to sell.
Moral of the story: drive and enjoy the hell out of your cars

[XMetal]

Originally Posted by KevinC

I disagree about the M2c depreciation - I don't think it's ever going to depreciate much. It's too special of a car, produced in very small numbers. Like the Z4MC, but with broader appeal and more practicality.

I can't replace the Golf R as my daily, it's too damn practical and just a great car overall. My only option would be to keep all 3, but that's a parking issue as well as a financial strain I'd rather not inflict upon myself. I can handle the M2c & Golf just fine. I'll miss the Z4MC and might wind up with another someday, but at least for now. I'm happy with the decision to replace it with what I feel is a worthy successor.

Here's one to keep an eye on as far as value - a very-low-mileage OG '18 M2, selling today on BaT....

https://bringatrailer.com/listing/2018-bmw-m2-21/

MSRP for that 2018 M2 was $60k and this is without adding tax, license and registration! Park the car for 3 years (1800 miles on your example) and sell it for $47k? Is that a value proposition? More realistically, decent mileage M2 examples (~20k miles) could be found all day long for $40k, but that is still a 33% depreciation after 3 years! I would say that the M2 is doing much better than 95% of the cars out there in terms of depreciation, but it does still depreciates. But who am I to predict where M2C would ultimately end up doing on the used car market? Your guess would be as good as mine.

[KevinC]

Originally Posted by gds52

Sorry, but you pampered your car, only drove on weekends, and then with minor crash you are ready to sell.
Moral of the story: drive and enjoy the hell out of your cars

I drove it 5k miles/year. It was hit on a weekday. Did I "need" to drive it more? No. For me, how I was using it was perfect.

I want the M2 Comp enough to be willing to replace the Z4MC with it, despite the damage being only "minor". That's the main reason why it's being replaced.

[KevinC]

Originally Posted by XMetal

MSRP for that 2018 M2 was $60k and this is without adding tax, license and registration! Park the car for 3 years (1800 miles on your example) and sell it for $47k? Is that a value proposition? More realistically, decent mileage M2 examples (~20k miles) could be found all day long for $40k, but that is still a 33% depreciation after 3 years! I would say that the M2 is doing much better than 95% of the cars out there in terms of depreciation, but it does still depreciates. But who am I to predict where M2C would ultimately end up doing on the used car market? Your guess would be as good as mine.

I was surprised that one didn't do better, but if that's the market for an OG M2 at the moment, so be it. The fact that the M2 Comp exists obviously hurts the value of the original to some degree. I still think they will do well over the long term.

Update from the body shop - work is underway, but still not known if there is suspension/unibody tweakage until they get it on the alignment rack. If there is, it's not apparent visually. They expect to be finished by the 28th

[JAYRICHFROMMIAMI]

If that quarter panel is being replaced, your car has suffered structural damage and, as a result, lost almost half of it's value.

[wdb]

Originally Posted by JAYRICHFROMMIAMI

If that quarter panel is being replaced, your car has suffered structural damage and, as a result, lost almost half of it's value.

Every body panel on these cars either glues on, or bolts on. Why would you assume structural damage?

[KevinC]

Update from the body shop today. First off, regarding the quarter panel, there was NEVER any chance it was going to be replaced - the damage there was quite minor. The shop did run into a damaged knuckle, lower control arm, & backing plate. Parts are due from Germany this week. Also filler vent tube being replaced. Only other parts previously replaced were the RR wheel & bumper cover. So, all in all, the damage was relatively minor - assuming nothing else got pushed around under the car. Hopefully I'll have it back next week.

[JAYRICHFROMMIAMI]

Originally Posted by wdb

Every body panel on these cars either glues on, or bolts on. Why would you assume structural damage?

Cars built on unibody platforms consist of structural components that are welded together to form the "frame" of the car. If a welded on panel is replaced, it compromises the structure of the car. These panels include the rear body panel, quarter panels, floor, rockers and center pillars, cowl, roof and, in some cars, front frame rails and radiator support.

This doesn't apply to full-frame vehicles.

[maupineda]

Originally Posted by JAYRICHFROMMIAMI

Cars built on unibody platforms consist of structural components that are welded together to form the "frame" of the car. If a welded on panel is replaced, it compromises the structure of the car. These panels include the rear body panel, quarter panels, floor, rockers and center pillars, cowl, roof and, in some cars, front frame rails and radiator support.

This doesn't apply to full-frame vehicles.

RR QTR PNL is not welded, is bolt on, same as the front fender. that is one of the peculiarities of this platform

[XMetal]

Originally Posted by maupineda

RR QTR PNL is not welded, is bolt on, same as the front fender. that is one of the peculiarities of this platform

We have the BMW version of the VW beetle

[wdb]

Originally Posted by JAYRICHFROMMIAMI

Cars built on unibody platforms consist of structural components that are welded together to form the "frame" of the car. If a welded on panel is replaced, it compromises the structure of the car. These panels include the rear body panel, quarter panels, floor, rockers and center pillars, cowl, roof and, in some cars, front frame rails and radiator support.

This doesn't apply to full-frame vehicles.

Z4 has a superstructure under the skin. The skin is just that, a skin.

[XMetal]

Originally Posted by wdb

Z4 has a superstructure under the skin. The skin is just that, a skin.

Although, that picture still shows the rear quarter panel attached...just saying

[Philly_sweden]

Originally Posted by XMetal

Although, that picture still shows the rear quarter panel attached...just saying

Im sure thats just a bad picture showing the panel UNDER the rear panels wich are glued on.

[KevinC]

The car should be done by Friday. I'll stop by for a look on my way home from Phoenix, then return early next week to retrieve it. Fingers crossed that everything turned out peachy.

[KevinC]

I got her back yesterday. I'll post pics later, but the repair work is IMPECCABLE. Total wound up being just a hair over $9500. Body shop dude hooked me up with an appraiser out of Tucson who specializes in diminished value claims, and will also write up a supplement requesting compensation for loss of use (55 days), using something comparable as a rental as a cost basis. He then wrangles with the insurer on my behalf, almost like a lawyer. He also does detailed PPI's, so I'm going to have him do one at the same time, since I'm planning on putting the car up for sale shortly.

[bwright657]

Glad to hear your car is back and that the shop did good work! Gonna be sad to see the car go though. Make sure you take some long drives to think it through.

[KevinC]

Before:





After:





VERY happy with the work, and the car drives absolutely perfectly. After returning home I had a "check gas cap" and "service engine soon" idiot lights appear - not shocking since the car was hit right in the fuel filler area - but after pulling the codes (the "service" code was also due to "slow evap leak") and clearing them, they haven't returned, after several long drives and a fuel stop. I've never seen a car come out of a body shop in such perfect shape. Not a spec of dust on or in it, not a sign of any polishing compound left anywhere, no drips/runs in the paint anywhere, etc. When the car was towed to the shop I'd pulled the battery cover to get the tow hook out of the tool pouch and just tossed everything back into the boot. When I got it back, everything is properly back in place as if the car just left the showroom. Outstanding attention to detail everywhere.

[Texaz3]

Awesome! Car looks great!

[chickdr]

Originally Posted by KevinC

VERY happy with the work, and the car drives absolutely perfectly. After returning home I had a "check gas cap" and "service engine soon" idiot lights appear - not shocking since the car was hit right in the fuel filler area - but after pulling the codes (the "service" code was also due to "slow evap leak") and clearing them, they haven't returned, after several long drives and a fuel stop. I've never seen a car come out of a body shop in such perfect shape. Not a spec of dust on or in it, not a sign of any polishing compound left anywhere, no drips/runs in the paint anywhere, etc. When the car was towed to the shop I'd pulled the battery cover to get the tow hook out of the tool pouch and just tossed everything back into the boot. When I got it back, everything is properly back in place as if the car just left the showroom. Outstanding attention to detail everywhere.

Looks like you found an awesome shop. I will be interested to see what kind of number it fetches with bodywork having been done.

[KevinC]

Originally Posted by chickdr

Looks like you found an awesome shop. I will be interested to see what kind of number it fetches with bodywork having been done.

We will soon find out. It will be sold in April. Sometime this week I'll be up in Tucson for a full post-accident PPI and diminished value report. I really don't know what kind of price it's gonna fetch - very desirable color & spec (non-nav, carbon leather, Premium package and heated seats), low but not crazy-low mileage (44k), 99% stock, and overall outstanding condition - other than just having been hit.

[Texaz3]

I'd say $40k+.

[gds52]

Wow, looks v clean