resell value after an accident

[BaatLuk]

Originally Posted by fierostetz

Yeah consumer's pretty boned if they handle it themselves. Different states, different laws, its always worth asking about. I've been able to recoup the entire value of the repair as diminished value but YMMV. I'm also comfortable with our legal system, that helps a lot.


In my case, a neighbor backed into my car doing $6000 of damage, collapsed a door and bent the frame of my "IT equipment hauler" golf. I had it on camera from 3 different angles and allowed them to perjure themselves with a police officer before I showed the officer my footage. My case was strong.

I've also had luck with having my insurance company (USAA) handle things, and they deal with everything with the opposing insurance company for me. USAA's requirements for body work are much more stringent than most, so if I have a choice, I'd like things repaired to USAA's standards.

Just curious, your neighbor or their insurance company paid you $6k for "diminished value"? How did you manage to do that? Did you have to hire a lawyer and pay any legal fees?

[fierostetz]

Originally Posted by BaatLuk

Just curious, your neighbor or their insurance company paid you $6k for "diminished value"? How did you manage to do that? Did you have to hire a lawyer and pay any legal fees?

I collected all my evidence, wrote a statement detailing what I wanted, and engaged legal counsel. They paid depreciation and legal fees. If it's only a few hundred bucks it's not worth it. Most lawyers that'd take a D.V. Claim will do a consultation to see if your case is viable.

[DIMINISHEDVALUE]

After having prepared thousand s of automobile diminished value reports I can say with a great deal of certainty that you have lost $2000-$3500 in value as a result of the accident damage. Next is to convince the insurance company of that so don't be a cheapskate of a do it yourselfer. Obtain a comprehensive DV report and then prepare to escalate your claim up the ladder until you obtain a satisfactory settlement.

[Summerwolf]

Originally Posted by fierostetz

I've also had luck with having my insurance company (USAA) handle things, and they deal with everything with the opposing insurance company for me. USAA's requirements for body work are much more stringent than most, so if I have a choice, I'd like things repaired to USAA's standards.

USAA sent me to a horrible place the one time I used their recommended shop, lesson learned. Their standards are just the same as any insurance company.

[fierostetz]

Originally Posted by Summerwolf

USAA sent me to a horrible place the one time I used their recommended shop, lesson learned. Their standards are just the same as any insurance company.

Hm - might be regional differences? I've never been satisfied with a repair administered by another insurance company, but always been happy when USAA did it. The USAA rep roasted a body shop for some little stuff I didn't notice so I didn't even have to.

[TwistedGray]

Originally Posted by Tcoat

So which is it?

The value lost is directly proportional to the extent of the damage. You do not lose thousands of dollars on a $650 bumper repair.

Just because you say you don't does not mean you don't. The value can most certainly drop more than the cost of the repair, and it does. You can argue it otherwise as much as you want, but I have both bought and sold enough vehicles with accident history to know.

Originally Posted by DIMINISHEDVALUE

After having prepared thousand s of automobile diminished value reports I can say with a great deal of certainty that you have lost $2000-$3500 in value as a result of the accident damage.

And with a handle like that ^ you can't argue, lol.

[Tcoat]

Originally Posted by TwistedGray

Just because you say you don't does not mean you don't. The value can most certainly drop more than the cost of the repair, and it does. You can argue it otherwise as much as you want, but I have both bought and sold enough vehicles with accident history to know.

Good for you.
And may I note in response: Just because you say you do does not mean you do.

[TwistedGray]

Originally Posted by Tcoat

Good for you.
And may I note in response: Just because you say you do does not mean you do.

Don't tell my wife that. She might be convinced that I can be wrong sometimes.

[Tcoat]

Originally Posted by TwistedGray

Don't tell my wife that. She might be convinced that I can be wrong sometimes.

LOL I am sure both of our wives would have the same thoughts on each of us!

[dhuang]

Using something like VINwiki to document your car would be helpful when you try to sell it to the next owner. I personally use it as a digital glovebox to illustrate how well I take care of my FR-S (maintenance, washing, repairs, etc.)

I hate that Carfax doesn't allow the car's owner to contribute details or photos to curate their "minor accident" report.

[Ultramaroon]

Originally Posted by DIMINISHEDVALUE

After having prepared thousand s of automobile diminished value reports I can say with a great deal of certainty that you have lost $2000-$3500 in value as a result of the accident damage. Next is to convince the insurance company of that so don't be a cheapskate of a do it yourselfer. Obtain a comprehensive DV report and then prepare to escalate your claim up the ladder until you obtain a satisfactory settlement.

That's one heluva first post after lurking for 3 years.

Who was that masked man? We didn't even get to thank him.