Resale value question
05-30-2012, 10:06 AM
#1
New Member
Thread Starter
Join Date: 07-30-2010
Location: PA
Posts: 13
Resale value question
Hoping you fine folks can give an opinion or speak from experience. I have a 2007 Panel LS with just under 82K miles. Engine threw a rod and, using every bit of good karma I had stored, there were 9 days left on the powertrain warranty. Chevy replacing with a GM certified remanufactured engine. My question - Does this have a positive or negative effect on the resale value? Mileage is 90% highway, HHR is well maintained and oil is changed per OBC data. Thanks for any input!
05-30-2012, 10:17 AM
#2
Deceased
Join Date: 06-30-2010
Location: Kannapolis NC
Posts: 25,739
It will and it won't, some answer huh?
In the short term it will affect the value a bit if you sell it to a private party, there is a stigma attached to having a replacement engine among some folks, but a GM Certified reman engine is actually an asset....if they are smart enough to realize it. Think of it as having a "do over" on the life span of the engine.
In the long run, it won't affect the resale much at all. It just depends on how long you plan to keep it. I wouldn't be afraid of driving it or using it for many years to come, dropping a rod at 82k is an odd and uncommon occurrence.
Since the engine was replaced at a dealer it may show up on a CarFax report, that would be a ding against the resale, but not a huge one like major collision damage.
In the short term it will affect the value a bit if you sell it to a private party, there is a stigma attached to having a replacement engine among some folks, but a GM Certified reman engine is actually an asset....if they are smart enough to realize it. Think of it as having a "do over" on the life span of the engine.
In the long run, it won't affect the resale much at all. It just depends on how long you plan to keep it. I wouldn't be afraid of driving it or using it for many years to come, dropping a rod at 82k is an odd and uncommon occurrence.
Since the engine was replaced at a dealer it may show up on a CarFax report, that would be a ding against the resale, but not a huge one like major collision damage.
05-30-2012, 12:19 PM
#3
Senior Member
Join Date: 11-19-2010
Location: Springfield, Oregon
Posts: 620
I agree with Mike.
If you plan to put it on the market, you may have to 'sell' the fact that it has a remanufactured engine. Have all your ducks in a row by having all the paperwork on it, and fully explain the circumstances to any prospective buyer. I certainly wouldn't be put off by it. Just mention in the ad 'New Engine at xx,xxx miles', and then you can go over the details in person.
If you plan to put it on the market, you may have to 'sell' the fact that it has a remanufactured engine. Have all your ducks in a row by having all the paperwork on it, and fully explain the circumstances to any prospective buyer. I certainly wouldn't be put off by it. Just mention in the ad 'New Engine at xx,xxx miles', and then you can go over the details in person.
05-30-2012, 02:12 PM
#4
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Join Date: 06-07-2011
Location: SE Mich
Posts: 2,180
Agree with those two ^. Some people might not like the idea, but for me, it would be like starting all over, and one less thing to worry about how the previous owner drove it, maintained it, etc. Getting the dealer to do it also shows you didn't cut any corners, and the warranty should transfer just fine. The downside is you might need to explain it more, but it's not like you're trying to convince them that a flood-damaged salvage car is "just fine now", either.
When I had my last car, someone was having trouble selling the turbo version of the same car with a brand new engine and similar vehicle mileage (under 5k on the engine, though) as my non-turbo car. I offered to swap with him half-jokingly, and he almost took it! He ended up wising up and doing better for himself by telling the full story.
When I had my last car, someone was having trouble selling the turbo version of the same car with a brand new engine and similar vehicle mileage (under 5k on the engine, though) as my non-turbo car. I offered to swap with him half-jokingly, and he almost took it! He ended up wising up and doing better for himself by telling the full story.
05-30-2012, 03:04 PM
#5
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Join Date: 05-09-2006
Location: "Upland" Mesa, Arizona
Posts: 6,804
Probably will not matter at all.
According to CarFax' own data, about 80% of perspective owners DO NOT look up history data on a considered purchase. So, 20% chance is pretty low in my estimation.
If you're selling the car past the 5year/100,000 mile mark, I doubt if it will matter.
Check with members that purchased higher mileage....out of warranty vehicles....see if they got a Carfax or had a dealer run a history. I bet, at the best, you will near Carfax figures...2 out of 10.
If you're worried about this......on selling the car the catch will be avoiding giving an information that relates to the engine exchange. Legally, you can't/shouldn't lie ....avoiding the question coming up is the best alternative.
Of course, trading it in is the best solution. Many dealers don't even check on the trade in vehicles.
JMO
According to CarFax' own data, about 80% of perspective owners DO NOT look up history data on a considered purchase. So, 20% chance is pretty low in my estimation.
If you're selling the car past the 5year/100,000 mile mark, I doubt if it will matter.
Check with members that purchased higher mileage....out of warranty vehicles....see if they got a Carfax or had a dealer run a history. I bet, at the best, you will near Carfax figures...2 out of 10.
If you're worried about this......on selling the car the catch will be avoiding giving an information that relates to the engine exchange. Legally, you can't/shouldn't lie ....avoiding the question coming up is the best alternative.
Of course, trading it in is the best solution. Many dealers don't even check on the trade in vehicles.
JMO
Last edited by Snoopy; 05-31-2012 at 03:22 PM. Reason: Change sentence....Misquoted CarFax Figure
05-30-2012, 11:25 PM
#6
Senior Member
Join Date: 06-20-2011
Location: Savanna Illinois
Posts: 737
When I was fooling around buying repairable wreck cars I documented all of the repair I would do on them.
Some of the older 'classic' vehicles I did work on needed an engine rebuild or replacement.
Back then an old car with a fresh engine usually sold better for me than one that was unknown. Also if you would drain the automatic transmission and put in new fluid and filter it was a plus.
Of course it helped that I had a reputation for doing things the right way. Some of the others in my area who were doing basically the same thing were known for not such good work. The old saying that “You can paint a turd” applies. Its best if you know the fellow who is turning the wrench actually knows what they are doing.
It may surprise some of you to learn that some dealerships have less than knowledgeable people in the backroom.
Some of the older 'classic' vehicles I did work on needed an engine rebuild or replacement.
Back then an old car with a fresh engine usually sold better for me than one that was unknown. Also if you would drain the automatic transmission and put in new fluid and filter it was a plus.
Of course it helped that I had a reputation for doing things the right way. Some of the others in my area who were doing basically the same thing were known for not such good work. The old saying that “You can paint a turd” applies. Its best if you know the fellow who is turning the wrench actually knows what they are doing.
It may surprise some of you to learn that some dealerships have less than knowledgeable people in the backroom.
06-04-2012, 09:09 PM
#7
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Thread Starter
Join Date: 07-30-2010
Location: PA
Posts: 13
Thanks for the answers - up in the air whether to sell or put in a back seat... Would not be such a big decision if I didn't love my Panel.
06-04-2012, 09:19 PM
#8
Senior Member
Join Date: 05-13-2008
Location: Knoxville, TN
Posts: 2,075
To me the only downside is non matching numbers, but that won't be an issue for thirty years.
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