Robbo09

Hey Guys!

I got a Question for you. I have an 08 C6, with almost all the bells and whistles, with low miles, always been garaged, in almost perfect shape. Some time ago I was rear ended. No frame damage or mechanical damage. Just body work, moldings, lights, paint, exhaust, etc.

My question to you is: How much is a fair Diminished Value settlement, on this car? What SHOULD I get back; and what CAN I expect to get?

Is someone really not going to care that the car was in a wreck and repaired... or is this a huge red flag to potential buyers.

Honest and Accurate answers much appreciated!

saplumr

Some people will jump in here and say you should definitely get DV. I've been through it and it was a major fail. The reality of it is your chances of getting it are slim due to the fact insurers say once repaired to pre crash condition there in no DV. There are sources to track down or you can involve a attorney but usually you can actually lose money. It's a crapshoot!

Johnathon59

I would consider buying a car if the damage was to rear only & it was repaired to specs. BUT I would not buy one if the front or side was damaged severely, no matter how well the repairs went.

billyboy47

i'd buy it with a 5 year warranty.

boraxman

You should get DV but rather you will or not will probably depend how hard you fight for it and then you still may come up empty.

2 same optioned cars, one in a accident and one not, which one would you buy?

Good luck buddy/

phileaglesfan

The fact is that you lost some value. Put two cars exactly the same besides a repair next to each other and the one with the repair will have to sell for thousands less.

Now the question is if you can get it. It varies state by state. Lets say your state allows it.

It will generally come down to you building your case. I used a 3rd party company that sent out an appraiser and the gave me the format for the letters to deal with the other person's company. This was on an 07 Chevy Impala that had $7500 of damage to the side 15 months after I bought it. The appraiser said $3500. I even tried to sell it but couldn't get more than $12k from the dealers. We settled for $2500 but of course I paid $300 to the DV company. It took MONTHS to get it cleared. You send them a letter, they respond, you respond back, and etc. Eventually it'll come down to if you want to go to small claims court which means you may lose it all (since they will have a lawyer).

I just sold the car for $10500 by the way. The accident wasn't in CarFax but I made sure he knew about the accident. Over 4 years later the accident really didn't matter with its value.

Your damage doesn't sound serious but the question should be asked is it 100% as good as before the accident. Probably not! That is diminished value. Some ins companies will say no structural damage means no DV. Make sure the car's paint is good in all light conditions, not just in the sun. Some colors are a pain to match (Atomic Orange is one). Pretty much any "metallic" color is a pain.

Robbo09

Thank you guys! I have an Update for you:
Insurance is offering DV- their first offer was $1500. I said I was thinking of a muchhh bigger number.. To be continued for now.

I actually have an extended warranty on the car for another few years. Before the wreck, the car was worth ~34-36k or so. Phileaglesfan – you said you couldn’t get more than 12k at the time, but how much would it have been worth at that time UN-wrecked?

I have a lawyer handling the medical portion of this, but haven’t engaged them on the DV yet.. is it time to now, or use that as leverage for the negotiations?

Updated thoughts on the Amount I can get, knowing this information?

saplumr

If they're offering now keep the attorney out of it. Once you mention attorney it may cause them to stop negotiations.

Jeff-Ford

Id want to see several pictures of the damage before it was fixed. Id want it to have been repaired by a company specializing in corvette body work repairs and id expect the price would reflect it being wrecked to the level that would make someone who normally couldn't afford to buy a C6 interested in it.

Greg00Coupe

My SIL is going thru the same deal with a VW. She went to VW and had the sales manager write a letter indicating a clean and DV value. He said he does this all the time and the insurance company recognizes it. But she is dealing with Progressive and they are pushing back. We're in Ohio and she is going to some state insurance adjustment agency which her lawyer suggested.

Knob Jockey

I filed a DV Claim against the at-fault party's insurance company using a 3rd party, AutoLoss.

They did an appraisal with comps and testimonials from various Chevy Dealers who stated they would not take an accident damaged Vette in on trade, ever. Car-Max, for one.

I was advised by a few different appraisers that recommended settling for half the price of the repairs as opposed to the 25% of the pre-accident value I was asking for.

That's what I did. I was very patient as they thought I would just go away, but my damage was considerably more extensive/expensive to repair.

I used the additional proceeds to cover the extra cost of the ZR1 front end mod, so IMHO it was worth the effort.

Good Luck.

06vert

FWIW: when I was buying last summer I didn't give any vehicles that were noted as being in an accident a second look. Not to say they weren't repaired perfectly, I just didn't want to take the perceived risk on my first vette.