Diminished value
Thread Starter
Safety Car
Joined: Jul 2004
Posts: 3,867
Likes: 307
From: Wantagh,L.I. New York
Diminished value
My 05 got t- boned 3 weeks ago. New door,quarter panel, rocker panel. Total repair $5900. Other party totally at fault. No deductible/out of pocket for me. Want to purse diminished value claim. Forget SEARCH.. I live in NY. Anyone have any recent experience with this subject. I've Googled DM and there are a lot of companies willing to take your $400 to get involved. Any recent experiences you can share will be appreciated.
AL
AL
Drifting
Joined: Oct 2007
Posts: 1,565
Likes: 2
From: The Great Pacific Northwest...........I carry a gun cause a cops too heavy.
My 05 got t- boned 3 weeks ago. New door,quarter panel, rocker panel. Total repair $5900. Other party totally at fault. No deductible/out of pocket for me. Want to purse diminished value claim. Forget SEARCH.. I live in NY. Anyone have any recent experience with this subject. I've Googled DM and there are a lot of companies willing to take your $400 to get involved. Any recent experiences you can share will be appreciated.
AL
AL
I'm no expert, but if I were you, I would not sign off on any claim that did not include a reasonable diminished value $ amount. I would get a few trade in estimates with and with out the accident history to determine what is a reasonable amount.
Hope all goes well.
Team Owner
Joined: Sep 2005
Posts: 20,352
Likes: 568
From: Ventura County, Calif
Couple recent discussions if you want to read:
http://forums.corvetteforum.com/c6-c...hed-value.html
http://forums.corvetteforum.com/c6-c...hed-value.html
http://forums.corvetteforum.com/c6-c...hed-value.html
http://forums.corvetteforum.com/c6-c...hed-value.html
Race Director
Joined: Dec 2007
Posts: 19,574
Likes: 167
From: Frederick, MD
Check your state laws and see if your insurance will help you. If not it would probably be better to go with a DV company.
Here is my experience. My 07 Impala SS was hit in the side and caused $7500 of damage between the wheels. His fault 100%. My insurance company wouldn't help me so I had to fight with his. I got a DV company, they sent out a 3rd party appraiser and said the car lost $3200 in value. Car was about 1 year old. I had to battle with his insurance company back and forth for months to get about $2500 out of the deal. Next step would have been small claims court (against the insurance company) which would most likely require a lawyer and/or risk losing it all.
Just for the heck of it I attempted to trade it in at 2 dealers. I was offered $11-12k on a car I just paid $27k 15 months earlier. Dealers cringe when they hear your car has been in an accident.
Here is my experience. My 07 Impala SS was hit in the side and caused $7500 of damage between the wheels. His fault 100%. My insurance company wouldn't help me so I had to fight with his. I got a DV company, they sent out a 3rd party appraiser and said the car lost $3200 in value. Car was about 1 year old. I had to battle with his insurance company back and forth for months to get about $2500 out of the deal. Next step would have been small claims court (against the insurance company) which would most likely require a lawyer and/or risk losing it all.
Just for the heck of it I attempted to trade it in at 2 dealers. I was offered $11-12k on a car I just paid $27k 15 months earlier. Dealers cringe when they hear your car has been in an accident.
Thread Starter
Safety Car
Joined: Jul 2004
Posts: 3,867
Likes: 307
From: Wantagh,L.I. New York
Check your state laws and see if your insurance will help you. If not it would probably be better to go with a DV company.
Here is my experience. My 07 Impala SS was hit in the side and caused $7500 of damage between the wheels. His fault 100%. My insurance company wouldn't help me so I had to fight with his. I got a DV company, they sent out a 3rd party appraiser and said the car lost $3200 in value. Car was about 1 year old. I had to battle with his insurance company back and forth for months to get about $2500 out of the deal. Next step would have been small claims court (against the insurance company) which would most likely require a lawyer and/or risk losing it all.
Just for the heck of it I attempted to trade it in at 2 dealers. I was offered $11-12k on a car I just paid $27k 15 months earlier. Dealers cringe when they hear your car has been in an accident.
Here is my experience. My 07 Impala SS was hit in the side and caused $7500 of damage between the wheels. His fault 100%. My insurance company wouldn't help me so I had to fight with his. I got a DV company, they sent out a 3rd party appraiser and said the car lost $3200 in value. Car was about 1 year old. I had to battle with his insurance company back and forth for months to get about $2500 out of the deal. Next step would have been small claims court (against the insurance company) which would most likely require a lawyer and/or risk losing it all.
Just for the heck of it I attempted to trade it in at 2 dealers. I was offered $11-12k on a car I just paid $27k 15 months earlier. Dealers cringe when they hear your car has been in an accident.
Thread Starter
Safety Car
Joined: Jul 2004
Posts: 3,867
Likes: 307
From: Wantagh,L.I. New York
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