Quote:
Originally Posted by oldpueblo
Not to derail but I recently sat on a jury where we denied a diminished value claim. The owner was happy with the fully restored vehicle and he had no desire to sell it, so basically claiming it had lost value was incorrect since the market is what sets the value of things. He was 100% happy with it therefore its value was essentially 100%. So basically if he doesn't plan on selling his FR-S (and therefore actually experiencing a possible failure of sale due to diminished value) then its value is just as intangible, and he may get denied and waste his time as well. Might even have court costs to pay.
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Depends how much damage is done... My car had 12k in damage on a 25k car. I was also out of a car for 3-4 months while parts came in from japan. Also 4/4 dealerships I went to marked down my car 25% of value due to the accident after it happened. Another 3 more grand and my insurance company would have totaled the car. Plus I live in Oregon so there is nothing in court here. My insurance company accepted my claim and paid me within 2 weeks. Just incase he later wants to sell the car you might as well get the money while you can.
*edit* every state has different laws or ways of seeing diminished value