How much does an accident devalue a C6 Z06?

[AV8R]

I have the opportunity to buy a 2007 yellow Z06 coup with <6000 miles on it. The only problem is that it was spun out and the back end hit a tree (while avoiding a cow in a narrow twisty road).
Its been professionally repaired and paid for by AAA insurance. I believe the car was $55,000 new and was always garaged. I believe it has most options including a HUD.
The owner recently passed away right before retiring (very sad) and his widow wants me to buy it because she knows Im a vette owner and it will help her out.

Problem is, I have no idea what a fair price is and what happens to the value of a vette that has been in an accident (that did not affect the frame), just rear end damage of about $10K.

My guess its worth $30k... 10 for the age and 10 for the accident. But Im just guessing. Who knows and is there an official methodology or book to evaluate such a thing?

 

[catbert]

If it shows up on CarFax, and it probably has, you're talking real dollars. The good news is that the longer you hold onto the car, the less impact on the value.

 

[Huskerman]

I wouldn't be afraid to own it, but I would take it to some folks you trust to make sure the work was done right and the paint is good. 6K is hardly broke in.......If it all checks out I'm thinking 35K would be fair to all involved............just saying.

 

[Toms007]

I know of a high mileage 06 or 07 that sold for around $12k......no other issues. And supposedly it's a great car.

 

[jrose7004]

The wreck really wouldn't bother me at all. Especially if I knew the history of the car, how it was taken care of and how it was repaired.

 

[lt1george]

You know the car. You knew the original owner. 25k-30K, sounds right. I'm thinking you're going to keep it too. Paint has to match and panels look right. If not pass, no matter what price. The way you say it is sounds like a good deal,for your price. Good Luck.

 

[67vet]

If the rear end got knocked out of alignment and wants to go down the road sideways, so to speak, you would have a real problem.
Also, check the paint in different lights due to mismatch or discoloration. I'd go 25K at best.

 

[GS Diva]

If it shows up on CarFax, and it probably has, you're talking real dollars. The good news is that the longer you hold onto the car, the less impact on the value.

I agree with Catbert. If it shows up on CarFax (and it probably will), it will be de-valued for resale forever. However, since you know the car and the owner, and if you are totally happy with the repairs, re-paint, etc., I'd go for it.

One thing, I am wondering if it really is a Z06. You said it cost $55k new. A new 06 Z06 retailed for more than $65k. Did your friend buy it brand new or used?

Elaine

 

[AV8R]

@67vet,
Thanks for the reminder on checking the rear alignment. I will add this to the to do check out list.
Thought I heard somewhere that theres a black light or other kind of photonics check that can detect where there was body work done. In this case I know who did the work and the AAA people. Maybe i can get my hands on a picture from AAA too. Can you tell me how you come up with $25K? Its about where my wife and I are comfortable paying, but the asking price was $30k and the widow is emotionally attached but practical. I think I need something substantive to be able to justify the $25K goal.

@GS Diva,
Are you associated or are CorvetteMike(New England)?
I remember taking my 74 vette to Corvette Mike out here in So Cal back when I moved out here from upstate NY and needed the brakes done. It so happens I looked at CMNE website to look up Z06 C6 prices, (along with CarMax, AutoTrader and Edmunds). I found one 2007 that was around 45K at CMNE site or there a bouts with more mileage. Found some at CarMax too. The exact new price (yes, orig owners) and options-features are not yet known by me, I was just quoting what I though I had heard, but ill know soon because I have been asked to drive it home from the mechanics soon. Being the husband just passed, Ive been slow to push the details because I don't want to be a burden or insensitive. When I have more info, I will share it.

@anyone,
I still would ilke to know in general at least, how much of a hit the value of a car like this takes when it has a non frame rear end repair. Note that the car was driven home from the accident scene.

 

[i10fwy]

I have the opportunity to buy a 2007 yellow Z06 coup with <6000 miles on it. The only problem is that it was spun out and the back end hit a tree (while avoiding a cow in a narrow twisty road).
Its been professionally repaired and paid for by AAA insurance. I believe the car was $55,000 new and was always garaged. I believe it has most options including a HUD.
The owner recently passed away right before retiring (very sad) and his widow wants me to buy it because she knows Im a vette owner and it will help her out.

Problem is, I have no idea what a fair price is and what happens to the value of a vette that has been in an accident (that did not affect the frame), just rear end damage of about $10K.

My guess its worth $30k... 10 for the age and 10 for the accident. But Im just guessing. Who knows and is there an official methodology or book to evaluate such a thing?

IMO as a prior dealer 30% to 50% depending on the damage. These days car fax is everything!

i10fwy

 

[catbert]

There might not be any "bodywork" in the strictest sense of the term. If the back end was crunched, they would replace the rear cap and both fenders. These items are far easier and cheaper to replace than repair. When I backed my C5 into a wall at Firebird international (don't ask) in 2001, my car looked pretty bad. I went to the body shop when the new parts came in, and they stripped the cap, both fenders, crash foam, and replaced them with new parts in an hour and 5 minutes. Two coats of paint, and I had it back the next morning. I had the alignment checked, and it was OK.

If the rear crunch included the rear deck and glass, it's still bolt-on.

 

[AV8R]

If AAA approves the work on a vette, does that account for anything, that is to say are they good at verifying repairs?

 

[6 Shooter]

Mark of death/No Go to most folk, if your going to keep it, who cares...

 

[catbert]

If AAA approves the work on a vette, does that account for anything, that is to say are they good at verifying repairs?

The body shop was probably AAA certified. Insurance companies use preferred shps that mostly don't screw them. For using one of these shops, the insurance company will certify their work. I doubt very much they inspected the work. Their inspection, when it happens, is on the front end.