I recently experienced a minor dent on my car caused by debris from a collision between other vehicles. Although the police report didn’t include my vehicle, I filed a claim against what I believe to be the at-fault insurance. I’m curious if this incident will show up on CarFax.
My damage consists of just a small dent and some scratches, with repair costs estimated between $500 and $1,000 for paintless dent repair and buffing. The police report didn’t mention me, even though I provided video evidence of my car being hit by debris. The insurance company of the driver I believe is at fault reached out for my account as a witness. During the call, I informed them about my car being hit and shared the video and photos. They’re currently in discussions to resolve the issue between the two insurance companies, which may end up in court and potentially take years, given the extent of property damage from the accident. There’s a possibility that I may not even be included in any settlement if they max out their limits.
I’m considering trading in my car this year and would like to know how this situation might impact its resale value if it appears on CarFax. If I handle the repairs myself and withdraw my claim, will that still be reported to CarFax? Additionally, if I proceed with the claim or go through my insurance, how much of an effect could that have on my resale value, considering the damage is relatively minor?
It sounds like you’re in a bit of a complex situation. To answer your questions:
CarFax Reporting: Generally, CarFax reports accidents and damages when there’s a claim filed with an insurance company or when significant repairs are reported. Since your dent was minor and not included in the police report, it’s less likely it will show up on CarFax, especially if you choose to fix it yourself without filing a claim. However, if you stay in the claim process and an insurance company records it as an incident, it could potentially show up.
Fixing It Yourself: If you repair the dent and do not file a claim, it is unlikely to appear on CarFax. It’s often best to handle minor damages privately if you want to avoid affecting your resale value.
Claim and Resale Value: If you proceed with the claim and it gets reported (even for minor damage), it could impact your resale value, though how much depends on various factors including market conditions and how potential buyers perceive minor damage. Typically, minor repairs may not drastically decrease your car’s value, especially if they are properly documented and repaired.
Future Considerations: If you think you might trade in your car soon, consider the cost and hassle of navigating the insurance claim versus the benefit of keeping your resale value intact. Sometimes, handling minor damages independently can save trouble down the line.
Ultimately, if it’s a matter of a small dent, your best bet might be to repair it privately and avoid filing a claim, which would help keep your CarFax report clean. If you’re uncertain about the legal implications or future insurer decisions, consulting with a professional or your insurance agent might also provide clarity specific to your situation.