Will a car depreciate if it gets a few dents from hail?
2 Answers
Car gets a few dents from hail depreciate. Definition of vehicle depreciation: It refers to the loss formed when a vehicle is damaged in a traffic accident. Although its performance can be restored after repair, the vehicle's service life, safety performance, and handling performance are difficult to return to their previous state, and its actual value is inevitably reduced. This is the loss caused by the accident leading to a decrease in the vehicle's value. Methods to reduce vehicle depreciation: Purchase popular car models, as they generally have higher resale value than unpopular models; apply vehicle wraps to protect the car's appearance; perform regular maintenance to extend the engine's lifespan and improve driving safety.
It's really frustrating to see your car dented by hail. My car got hit by hail last year too, with seven or eight small dents on the roof and hood. The impact on resale value mainly depends on the location and size of the dents. If they're only at the edge of the windshield or on the doors, paintless dent repair can mostly restore the car, with minimal effect on resale value. However, if the dents are right in the middle of the hood or roof, slight marks may remain even after repair. The repair costs aren't cheap either—each dent can cost 200 to 500 RMB, not to mention additional expenses for paint damage. Although insurance may cover it, premiums might increase the following year. It's best to address the issue promptly, as water trapped in the metal dents can cause rust. Overall, expect a depreciation of two to three thousand RMB, especially more noticeable for high-end cars.
