2017 Honda Civic Type R Carmax Appraisal

Z3papa

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I guess I do not understand how showing the difference in trade in value between a repaired car vs. an unrepaired car is going about it the "wrong" way. While I do understand the monetary value of what the car would actually "Sell" for and what I would get for a trade would be different, I do not see how showing that, for example, my repaired car received a whole sale offer of $23,000 vs. an unrepaired car with the same year, make, model, equipment and mileage received an offer of $25,000 would hurt my case. I also believe that the majority of the general population does not sell their cars private party, and will most likely look to a place like carmax or trade the car in at a dealership, so it is a comparison that makes sense.

The problem is that I have no way to make a true apples to apples comparison, because I am not actually selling my car. So any case I put together is entirely hypothetical.

I appreciate the response, and you seem to have some knowledge of DV claims, but saying I am doing it "wrong" without any suggestion about how to do it "right" is not really helpful.
I'm not licensed to practice law in the State of NJ (that's a hint) and would strongly suggest going onto one of those diminished value calculators rather than going to Carmax if you want to document your claim.
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jpmelfi

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I'm not licensed to practice law in the State of NJ (that's a hint) and would strongly suggest going onto one of those diminished value calculators rather than going to Carmax if you want to document your claim.
I appreciate the advice. I will definitely look into that.
 

tbobtx

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You can go to edmunds.Com or kbb.com and select excellent condition and see value. Then select fair or good condition and see what valuation you get. The difference should give you an idea of the value loss from the accident.
 
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jpmelfi

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Yeah I think this is going to be the main point of my case. Guess we will see how it plays out.
 

glossyprimerX

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I guess I do not understand how showing the difference in trade in value between a repaired car vs. an unrepaired car is going about it the "wrong" way. While I do understand the monetary value of what the car would actually "Sell" for and what I would get for a trade would be different, I do not see how showing that, for example, my repaired car received a whole sale offer of $23,000 vs. an unrepaired car with the same year, make, model, equipment and mileage received an offer of $25,000 would hurt my case. I also believe that the majority of the general population does not sell their cars private party, and will most likely look to a place like carmax or trade the car in at a dealership, so it is a comparison that makes sense.

The problem is that I have no way to make a true apples to apples comparison, because I am not actually selling my car. So any case I put together is entirely hypothetical.

I appreciate the response, and you seem to have some knowledge of DV claims, but saying I am doing it "wrong" without any suggestion about how to do it "right" is not really helpful.


AMEN!
 


Honda_RacerX

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Carmax is where you go when you want an appraisal on your car that will make you laugh, and keep the car. Never worth the effort imo - their entire business model is based on paying the least possible for distressed owners, then turning around and selling the car for reasonable. Every quote I've ever gotten from them hasn't been worth the paper it's printed on.
Not always true. I sold my 2003 RSX S with 198k miles to carmax in 2017 for just under 3k. It was old and rusty as hell. I was surprised they gave me that much.
 

willskiGT

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I have Manheim access (dealer auctions), so I can pull wholesale comps. Cars are graded on condition from 1 (poor condition) to 5 (new).

Here are the recent sales of 2017 Type Rs, listed by date, price, mileage, condition, color, and location.

  • 11/14/19, $27,500, 49,482 miles, 4.7, Black, Southern California
  • 11/12/19, $32,000, 15,865, 3.7, Black, Dallas
  • 11/9/19, $31,500, 10,898, No Condition Reported, White, New Jersey
  • 11/6/19, $32,200, 13,407, 4.4, Black, Nashville
  • 10/31/19, $30,100, 16,302, No Condition Reported, White, North Carolina
  • 10/24/19, $32,600, 15,671, 4.9, Red, Statesville, NC
  • 10/24/19, $30,000, 11,570, No Condition Reported, Black, Indianapolis
  • 10/18/19, $30,250, 11,775, 4.5, Black, Pennsylvania
Hope this is helpful. If you get to a point where you need an actual screen capture/printout of this from Manheim, let me know.
 

SpraykwoN

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Carmax appraisals can eat a very large dick. They suck.
 

Zeffy94

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I have Manheim access (dealer auctions), so I can pull wholesale comps. Cars are graded on condition from 1 (poor condition) to 5 (new).

Here are the recent sales of 2017 Type Rs, listed by date, price, mileage, condition, color, and location.

  • 11/14/19, $27,500, 49,482 miles, 4.7, Black, Southern California
  • 11/12/19, $32,000, 15,865, 3.7, Black, Dallas
  • 11/9/19, $31,500, 10,898, No Condition Reported, White, New Jersey
  • 11/6/19, $32,200, 13,407, 4.4, Black, Nashville
  • 10/31/19, $30,100, 16,302, No Condition Reported, White, North Carolina
  • 10/24/19, $32,600, 15,671, 4.9, Red, Statesville, NC
  • 10/24/19, $30,000, 11,570, No Condition Reported, Black, Indianapolis
  • 10/18/19, $30,250, 11,775, 4.5, Black, Pennsylvania
Hope this is helpful. If you get to a point where you need an actual screen capture/printout of this from Manheim, let me know.
I have Manheim access (dealer auctions), so I can pull wholesale comps. Cars are graded on condition from 1 (poor condition) to 5 (new).

Here are the recent sales of 2017 Type Rs, listed by date, price, mileage, condition, color, and location.

  • 11/14/19, $27,500, 49,482 miles, 4.7, Black, Southern California
  • 11/12/19, $32,000, 15,865, 3.7, Black, Dallas
  • 11/9/19, $31,500, 10,898, No Condition Reported, White, New Jersey
  • 11/6/19, $32,200, 13,407, 4.4, Black, Nashville
  • 10/31/19, $30,100, 16,302, No Condition Reported, White, North Carolina
  • 10/24/19, $32,600, 15,671, 4.9, Red, Statesville, NC
  • 10/24/19, $30,000, 11,570, No Condition Reported, Black, Indianapolis
  • 10/18/19, $30,250, 11,775, 4.5, Black, Pennsylvania
Hope this is helpful. If you get to a point where you need an actual screen capture/printout of this from Manheim, let me know.
I would assume a dealer would not pay as much as these prices listed if you were to go in and try to sell your car to them?
 

boosted180sx

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most of the time no. They base their prices off of them as a "worst case scenario" in the event the car doesn't sell and ends up being auctioned.
 


willskiGT

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I would assume a dealer would not pay as much as these prices listed if you were to go in and try to sell your car to them?
It's a good ceiling for trade-in negotiations. Most dealers will offer somewhere in the vicinity of ~0-5% lower than wholesale value. Really depends on if you are buying another vehicle / what you're buying / how badly they want to move what you're buying / etc.

For a diminished value case, it's admissible as evidence of wholesale value. This can be used to refute the CCC valuation report all insurance companies utilize to provide comps for your car.

If you haven't dealt with CCC before, it's not a fun time. They will manipulate the comps (illegal but an accepted practice in the industry) until the insurance company is satisfied. By taking them to court on a DV claim and presenting Manheim wholesale comps, you can get their false valuation thrown out (and have hard data to back up your DV claim).
 

NapalmEnema

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Exactly. I have only had one experience with Carmax. They offered me $22k for a vehicle that I ultimately sold for $28.5k, and we know they would have asked for more.
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