Diminished Value....
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Joined: Jun 2005
Posts: 66
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Diminished Value....
Had accident three weeks ago in central Fla. The accident was not my fault. 2002 a4 coupe 50,000 miles, garage queen in excellant condtion. Approx. value before accident $25000.00. Damage to car $12000.00. Any thoughts would be appricated...Thanks in advance...
Pro
Joined: May 2006
Posts: 593
Likes: 12
From: Maryland Heights MO
Sorry to hear that!!! Well, with that amount of damage its best if there's any way they could declare it totalled. Your car will have a major accident in its history report and most cars are never the same after repairs like this. Can you give more details or pics on the damage???
Le Mans Master
Joined: Feb 2006
Posts: 5,488
Likes: 4
From: USA
Sorry to hear that!!! Well, with that amount of damage its best if there's any way they could declare it totalled. Your car will have a major accident in its history report and most cars are never the same after repairs like this. Can you give more details or pics on the damage???
$12,000 on an 02 with 50K miles, I'm suprised they didn't total it, due to fix it bill being 14K by the time its all said and done
No question you'll have to take the diminished value on it when you sell it. Sorry to hear someone wrecked into you.
Burning Brakes
Joined: Aug 2008
Posts: 850
Likes: 15
From: Vero Beach Florida
Thats a close one. KBB Private value is around 18,750 depending on specific car. I sure wouldn't want the car any longer after that much damage. Maybe another estimate might find additional damage causing car to be considered totaled.
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Burning Brakes
Joined: Sep 2007
Posts: 860
Likes: 3
You certainly can try to file a DV claim, but be ready for them to base the claim on real world value (by KBB, etc), not based on what you think you could get for it. States vary in terms of recognising DV, and I am not sure where Florida is on that topic.
Some sites make it look like you'd have a chance - http://www.appraisalgroupofamerica.c...in_Florida.htm
Some sites make it look like you'd have a chance - http://www.appraisalgroupofamerica.c...in_Florida.htm
Melting Slicks
Joined: Apr 2008
Posts: 2,343
Likes: 9
From: Lexington Park MD
KBB says your car is worth $19k-21. I believe you have to have 75% of that cost in order to have it totalled in FL. Even if they add a few grand for depreciation you are still short on a total. Either way, try your best for the total and get yourself another one or even a C6.
Good luck with everything, and glad you are OK
Good luck with everything, and glad you are OK
Pro
Joined: May 2005
Posts: 592
Likes: 17
From: Tempe AZ
Did you ever have an appraisal done before wreck?
What was damaged?
You have 7 year old car with 50,000 miles - not sure in a fair weather state like Florida - one would call that a garage queen. Though I'm sure you treated it as such.
Any medical bills?
