Is it worth it to repair my car before I trade it in?

Is it worth it to repair my car before I trade it in?

I have a 2005 Chevrolet Silverado. With my options, low mileage, etc. Edmunds.com puts me around 15000 for a trade in at "-good"- condition, which is the average car.Now, I have several small dings and one relatively large dent caused by a concrete bank pole that got me on the right rear door (crew cab) as I turned too early. I am guesstimating that the repairs for this would be about at least $3000 USD.I owe about $10000 USD on the vehicle, and am looking to trade it in relatively soon (3-6 months) for another vehicle.Is it financially worth it repair the vehicle (using my full coverage auto insurance) and restore the condition to "-new"- or should I just trade it in as is?Additionally, all damage is superficial. There is no frame damage, engine damage, electrical damage, water damage, interior damage, etc. Besides the minor damage the car is pretty mint.Thanks.

Pedro

no. no .no and no...the dealer will unload it whatever u do...no no no

befruitfulandmultiply

The dents and dings that you describe are not considered "good condition" this puts the vehicle below average. Shop around and find out if you can get it fixed cheaper, then it would be worth it.

mccoyblu

Here is why you don't fix your car before trading it in.1) Even with Full Coverage insurance you still have a deductible. That deductible is money out of your pocket.2) Any claim against your insurance policy will probably raise your rates.3) Any paint or body shop work done on your car will show up on a Carfax report, lowing the value of the vehicle.4) The difference in the price before or after the repairs that the dealer will offer you as a trade will not offset the money you lost with items # 1,2 & 3.And keep one thing in mind, those Internet value guides are not accurate. The actual value you will be offered will be much lower than any of these guides price your car at.

Wiseone

Not

twisten

There are a few things to keep in mind.to fix the damage that is on you car through the insurance will show that you have been in an accident and might raise your rates ,if you have it fixed by a body shop and not report it to insurance and not report it to the dealer ship could have a recourse back to you.once a vehicle has been in ANY KIND of an accident it can not be certified,and if it is and you held back info,the dealer and the new buyer can both come after you for the damages.you might just want to have the car detailed and take it to the dealer like that.Source(s):a real dealer in so.cal

mister

don't use edmonds to figure the trade in value of your truck, they are too leniant, the car dealers use NADA.com and will give you wholesale price for your truck, also consider that in 3 to 6 months your truck will be worth less than it is now as the prices change monthly, so you take it from here to figure if it's worth fixing up or not and having a blemish on your insurance.

unaturalyaspirated

they will pay the same for your truck on trade it won't matter if you fix it or not.

Ask

insurance

Popular Q&A

How to get into a new Car Insurance?
They seem to be the cheapest, so what are you complaining about? I would check into higher deductibles to lower your insurance cost.Drives me crazy (no pun intended) for someone to put a claim in on their insurance, expect the company to pay (in your case, $1500.) and then switch carriers...

Can one buy an auto surety bond which pays interest?
No. Surety bonds don't pay interest. YOU don't get to both use the money to earn money, AND post it as bond.

What new and wonderful things will Obama do for the citizens of the US in the next 4 years?
He has done a lot for numbskulls like you.Ended torture of foreign detaineesHealth insurance reform ACASubsidized 60% of Cobra insuranceRecovered overpayment of SSI benefitsMedicare fraud recovery $5 billionHome foreclosure loan modification helpExpanded Alaska oil drillingApproved the XL pipeline...

Auto insurance premium higher than what was quoted to me?
From my experience, this is due to an unmentioned ticket. This could be due to the insurance company 'looking back' further than you anticipated (example: you received a ticket in 2006 and you thought that they only cared about 2007 and beyond), or you forgot about it.On a related note, some...

Do you have an issue with the healthcare law because you don't want to be "forced" to buy health insurance?
Actually car insurance is a federal mandate and hopefully people view themselves more valuable than cars. However driving is a privilege, but visiting the ER isn't and that's the problem. The Affordable Healthcare Act is basically the same as the Massachusetts Healthcare Reform Law.http://en...