Car accidents are common, and there are multiple issues to deal with after a wreck. One concern is whether your car will lose monetary value after an accident.
A fender bender or small accident will not affect the resale value of a car. A newer car, between eight years old and new, must be repaired to retain its value. On older vehicles, minor dents and scrapes are considered normal and don't affect car prices.
If a car is significantly damaged in an accident but not totaled, it will diminish in value. The value loss depends on the extent of damage and the quality of repairs. A savvy buyer will have a used car checked by a mechanic, who will look for signs of filler, bent frames and alignment problems.
If a car is damaged so much that the insurance company declares it a loss, it is categorized as a salvage vehicle. These cars are often repaired, but the value is significantly diminished. These cars are worth about half of the going price for an undamaged car.
