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Old 09-19-2002, 08:49 PM   #3
superchevy
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Join Date: Jul 2000
Location: Austin, Texas
Posts: 2,453
You could get into a situation of "diminished value", ie, if you have 2 identical vehicles except one was previously totaled and repaired and the other has never been damaged, the repaired vehicle would be worth a lesser amount to a knowledgeable buyer - even if the totaled/repaired vehicle was put back to "as new" specs.
You wouldn't pay as much for the totaled/repaired one, would you?
Thus, your beater will have a lesser value in the eyes of any future claims.
Some attorneys are suing insurance companies for the diminished value of their clients vehicles as a result of serious collision damage - damage that must be revealed to potential buyers at time of sale - reducing the amount the seller will receive for the vehicle as few people want to buy a seriously damaged or totaled vehicle no matter how well it was repaired.
SC
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