Salvage Value on nearly new GLC? To Repair or Not Repair?
11-05-2017, 10:51 AM
#1
Junior Member
Thread Starter
Salvage Value on nearly new GLC? To Repair or Not Repair?
I bought a nearly fully loaded (Prem. Pkg 3, Park Assist, Panorama, Heated Seats/Wheels, Air Balance, Burmester) 2017 GLC 4Matic a few months ago via European Delivery. Two nights ago on a rural Wisconsin highway, I hit a deer pretty hard. Ironically, it was in Distronic mode. Anyway, the airbags didn't go off but the front end is pretty crushed up. I can tell that it needs everything on the bumper, both headlights, both fenders, the entire grille assembly and the hood. The radiator was pushed in pretty far as well. If I just do those parts without paint, labor, electrical or trim pieces, it's over $10K in damage alone.
I know the car is worth ~ $45-46K (I paid like $49K with the European Delivery discount plus $1K additional dealer off) so undoubtedly it is repairable. I am guessing with all the add-ons, the repairs will be in the $20-25K range knowing that we are at $10K in parts before we even open the hood or peel anything back. I have had experience on a prior vehicle where they initially wrote an estimate for $6K and we started repairs and when it was all said and done, the total repair cost was $15K and it took nearly 2 months as we waited for part after part to arrive. I was then out like almost $1K in additional rental fees.
I don't think I want to repair this car. Has anyone taken the insurance settlement and then either traded their Benz in or sold it at salvage? I put a significant amount down and could pay off the note with savings until I recoup it. I figure a $20-25K repair on my Car Fax is going to cause me a $2-5K hit in value depending upon how long I keep the car. I'm not interested in that. Not. At. All. If I'm going to take a $5K hit, I might as well do it now and save myself the agony of repairs.
Has anyone does this? Does anyone know of a good way to sell salvage (albeit with a clean title) Mercedes vehicles? Or convinced a dealer to take it in with trade (along with the insurance check of course). I think with the salvage value plus insurance proceeds, it would be not less than $40K and that's a $5K hit from real value. I can live with that now if it means I save out on 2 months of slow repairs and a damaged Car Fax looming over me. Theoretically, people buy these moderately damaged vehicles all the time and make a profit on them because they aren't paying MSRP for the parts.
Not sure what to do. Anyone have experience or thoughts they'd be willing to share?
I know the car is worth ~ $45-46K (I paid like $49K with the European Delivery discount plus $1K additional dealer off) so undoubtedly it is repairable. I am guessing with all the add-ons, the repairs will be in the $20-25K range knowing that we are at $10K in parts before we even open the hood or peel anything back. I have had experience on a prior vehicle where they initially wrote an estimate for $6K and we started repairs and when it was all said and done, the total repair cost was $15K and it took nearly 2 months as we waited for part after part to arrive. I was then out like almost $1K in additional rental fees.
I don't think I want to repair this car. Has anyone taken the insurance settlement and then either traded their Benz in or sold it at salvage? I put a significant amount down and could pay off the note with savings until I recoup it. I figure a $20-25K repair on my Car Fax is going to cause me a $2-5K hit in value depending upon how long I keep the car. I'm not interested in that. Not. At. All. If I'm going to take a $5K hit, I might as well do it now and save myself the agony of repairs.
Has anyone does this? Does anyone know of a good way to sell salvage (albeit with a clean title) Mercedes vehicles? Or convinced a dealer to take it in with trade (along with the insurance check of course). I think with the salvage value plus insurance proceeds, it would be not less than $40K and that's a $5K hit from real value. I can live with that now if it means I save out on 2 months of slow repairs and a damaged Car Fax looming over me. Theoretically, people buy these moderately damaged vehicles all the time and make a profit on them because they aren't paying MSRP for the parts.
Not sure what to do. Anyone have experience or thoughts they'd be willing to share?
11-05-2017, 12:32 PM
#2
MBWorld Fanatic!
If the car is damaged that hard, and becomes salvaged, the insurance company should give you a check for the total value of the car and then they take it and sell it to offset their loss.
