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Old 06-26-2011, 09:33 PM   #1
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Default Value question

I happen to own a 2001 Trans Am Firehawk with the 1LE suspension package. The car is a Navy Blue Metallic, beige interior, automatic car making it the only blue TA that had the auto and 1LE in 01. My WONDERFUL (sarcasm) neighbors hit my car and since state farm didnt want to pay for it we are now suing them. My question is how much of a loss in value are we looking at since the car was in a collision? car was in just about perfect prior, and now will never be the same again. I want to be reimbursed for the lost equity in my car so am curious what the loss would amount to.
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Old 06-27-2011, 11:31 AM   #2
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eff'ing neighbors and state farms!! ... NADA's classic car section is where you can find firehawk info. and or, you search ebay and firehawk.org's for sale section to see what others are asking and average it all out. me being me depending on miles and the sexy less available NBM, anywhere from 20k -30k mabybe? when you go to court make sure you have as much info about your car and the rarity of the firehawk name. it's not just a trans am, a numbers car.

540 total for 2001
http://firehawk.org/article/2498.html

nada: $19,800
http://www.nadaguides.com/Classic-Ca...irehawk/Values
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Old 06-29-2011, 11:05 AM   #3
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Unfortunately, rarity of the color/option combo won't help you here. Start w/ the NADA (or equivalent "official" book) value of a Firehawk. The "value loss" you are seeking is going to be the same as the cost of repairs, which may be higher than a run of the mill T/A if the Hawk hood or a decal was damaged. Since condition ratings in the "value books" are highly subjective, any judge is going to lean towards using repair estimates to restore the car to its original condition. Just because your car is "rare" doesn't make it more costly to repair than other similar models.

Get at least 2 or 3 repair estimates.
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Old 06-29-2011, 09:36 PM   #4
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the car is already repaired. im looking at recouping the lost value caused by the negligence of this woman. that is what i am trying to determine.
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Old 06-30-2011, 06:05 AM   #5
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Quote:
Originally Posted by JohnnyBs98WS6Rag View Post
Just because your car is "rare" doesn't make it more costly to repair than other similar models.

Get at least 2 or 3 repair estimates.
Oh yeah? Go get a price on a firehawk hood vs a ws6 hood vs a firebird hood...
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Old 06-30-2011, 04:46 PM   #6
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you guys are not understanding. i realize it costs more to repair if the "hawk" parts get damaged. that is not of any concern seeing as the car is already repaired and none of the hawk parts were damaged. what is the issue is determining how much less the car is worth now that it has been in an accident. that is what i am trying to determine.
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Old 07-02-2011, 01:35 PM   #7
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Is the title salvaged now? If so, that *generally* makes the car worth about half...If it's still a clean title, then it probably wouldn't hurt the value tremendously *if* there was no frame damage and majority of paint was still original and did an excellent job of matching, etc. Further, if the replacement parts were genuine and not repros, that will help too. Still, the idea of an accident turns off a lot of people, unfortunately, even if it's purely cosmetic and you could never tell afterward.

My advice would be to keep really good documentation of the extent of the accident, if it was minor and the title is still clean, so that when you do go to sell, you can justify the price (being in an accident) or not.
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Old 07-03-2011, 09:15 AM   #8
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here's your replacement!

http://messageboard.firehawk.org/vie...hp?f=4&t=10956
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Old 07-06-2011, 01:01 PM   #9
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Quote:
Originally Posted by oberth1 View Post
Oh yeah? Go get a price on a firehawk hood vs a ws6 hood vs a firebird hood...
Did you miss this statement?

Quote:
Originally Posted by JohnnyBs98WS6Rag
The "value loss" you are seeking is going to be the same as the cost of repairs, which may be higher than a run of the mill T/A if the Hawk hood or a decal was damaged.
Also, "similar models" refers to other Firehawks that might not be so rare in the combination of options & colors. The discriminator here is the "rarity" factor, not the "Firehawk vs WS6 vs T/A" factor.

To the OP: What you are seeking will be very difficult to determine since it is a very subjective thing. About the best you can do is use the fact that the car has been repaired to downgrade it's condition from say, a #5 (perfect factory new condition) to a #4.
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Old 07-06-2011, 01:01 PM
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