A friend crashed my car. How much should I ask for the damage?

[Var]

Everyone seems to be under the impression that you're supposed to lose money on a car every time. If you buy a car that's at the end of its depreciation curve, then sometimes they gain value when the market settles. Arbitrarily adding a depreciation or a usage cost to the car is pointless. He should either buy another one in the same condition or pay the fair value for it.

 

[Caddywumpus]

TBH, ask for $1900, give him the car. Go buy another beater, esp if its going to cost a lot to get roadworthy again.

 

[Marlowe]

Everyone seems to be under the impression that you're supposed to lose money on a car every time. If you buy a car that's at the end of its depreciation curve, then sometimes they gain value when the market settles. Arbitrarily adding a depreciation or a usage cost to the car is pointless. He should either buy another one in the same condition or pay the fair value for it.

You seem to be under the impression that a 20 year old hippiemobile is an investment, rather than a tool/depreciable asset.

 

[Var]

You seem to be under the impression that a 20 year old hippiemobile is an investment, rather than a tool/depreciable asset.

It's not an investment but it sure is done depreciating. If you put money into maintaining it then you lose even more money by arbitrarily reducing its value. The floor of a car's market value is resilient to even salvage titles and mileage. It's worth a bare minimum amount. The perceived usage value that a person got out of something has no effect on its worth.

 

[Marlowe]

It's not an investment but it sure is done depreciating. If you put money into maintaining it then you lose even more money by arbitrarily reducing its value. The floor of a car's market value is resilient to even salvage titles and mileage. It's worth a bare minimum amount. The perceived usage value that a person got out of something has no effect on its worth.

Funny, pretty sure it just depreciated some more.

 

[Var]

Funny, pretty sure it just depreciated some more.

No, it might have even appreciated some.



whatever. i don't care. i think i'm right

 

[mlm]

http://www.bamafactcheck.com/pages/...+value-Truth+Rating-+5+out+of+5- &id=12361927

 

[malibu_adam]

^^ In theory, yes... but If a 1998 civic is depreciating from $2500 to $1500... and a 1991 Volvo is appreciating from $1500 to $2500... and they are sitting next to each other, Which one are you more likely to buy?

 

[corndog67]

^^ In theory, yes... but If a 1998 civic is depreciating from $2500 to $1500... and a 1991 Volvo is appreciating from $1500 to $2500... and they are sitting next to each other, Which one are you more likely to buy?

A Toyota truck with a 22RE engine.

 

[malibu_adam]

^^ Yes. I have a 4runner, with a V6. =( The 22RE appreciated.

 

[Var]

^^ In theory, yes... but If a 1998 civic is depreciating from $2500 to $1500... and a 1991 Volvo is appreciating from $1500 to $2500... and they are sitting next to each other, Which one are you more likely to buy?

depends on what you typed in your craigslist search

 

[Diezel]

It's not an investment but it sure is done depreciating. If you put money into maintaining it then you lose even more money by arbitrarily reducing its value. The floor of a car's market value is resilient to even salvage titles and mileage. It's worth a bare minimum amount. The perceived usage value that a person got out of something has no effect on its worth.

The floor of a vehicles worth, is its scrap value. Anything other then that, is sentimental value, and is trivial.....

 

[Var]

The floor of a vehicles worth, is its scrap value. Anything other then that, is sentimental value, and is trivial.....

Anything over a car's scrap value is sentimental and trivial...got it.

 

[Diezel]

Anything over a car's scrap value is sentimental and trivial...got it.

Once a vehicle has depriciated to the bottom, its worth scrap value. Too many people look at vehicles as other then a piece of hardware. The idea of a non-special edition or rare vehicle, appreciating in value, is hilarious.

 

[Var]

Once a vehicle has depriciated to the bottom, its worth scrap value. Too many people look at vehicles as other then a piece of hardware. The idea of a non-special edition or rare vehicle, appreciating in value, is hilarious.

Gotcha

 

[moond0ggie]

.....The floor of a car's market value is resilient to even salvage titles and mileage. It's worth a bare minimum amount.

The floor of a vehicles worth, is its scrap value. Anything other then that, is sentimental value, and is trivial.....

Seems like two different floor values here, the first describes a working-running vehicle with some utility life intact........in the second, it describes the scrap value after depleted usefulness.

 

[Cycle61]

Seems like two different floor values here, the first describes a working-running vehicle with some utility life intact........in the second, it describes the scrap value after depleted usefulness.

When I was 16 or so, the cheapest you could buy a car and have any expectation of moderate reliability was about $500. Now I'd say that's roughly tripled, but the concept is the same. If it's running, and not completely beat to shit, you can reasonably call it $1500.

 

[moond0ggie]

True dat, ^^^
I remember late 70s a series of cool $500. specials, '57 Bel Air wagon, '66 Pontiac Star Chief, '67 Dodge Coronet & an
$800. '68 Camaro with a smashed qtr panel. Any of those would be worth thousand$ today

 

[Diezel]

Seems like two different floor values here, the first describes a working-running vehicle with some utility life intact........in the second, it describes the scrap value after depleted usefulness.

Nah the bare minimum amount is what it is. In most cases a rock botttom priced running vehicle is no longer worth additional repair or maintaining. At that point a running car in that shape, or a non running car are both worth scrap value.