Diminished Value Advice
Instructor
Joined: May 2016
Posts: 110
Likes: 9
Great news! I'm surprised your insurance didn't help you. What company do you use if you don't mind me asking? My insurance company was the insurer who cut me my DV check - not the company the person that hit me used. Once I negotiated a deal with their appraiser I had a check from them within a week.
Race Director
Joined: Oct 2005
Posts: 14,555
Likes: 1,255
From: Saint Albans, WV
I know it's a private thing but if everyone knew the damage amount and DV collected people who pursue it would know what to "possibly" expect....round or about give or take a little.
Le Mans Master
Joined: Sep 2017
Posts: 5,767
Likes: 2,968
From: Rural NW Georgia. GO DAWGS!
2024 C8 of the Year Finalist - Unmodified
Race Director
Joined: Oct 2005
Posts: 14,555
Likes: 1,255
From: Saint Albans, WV
I'm being approximate here because it was in 2018 but I had about $13k in damage, and my DV check was just under $3k. My damage was only cosmetic. I had a car in front of me on I-95 get ran off the interstate into the medium and his truck threw debris all over my car, so there was a lot of paint damage.
Instructor
Joined: Nov 2010
Posts: 141
Likes: 35
From: Fort Pierce Florida
Approximate Diminished Value
Any repair will result in a 10%-15% loss of the pre-accident trade-in value. Regardless if the repairs cost $2,000 or $20,000, if a dealer can certify the car, you won't be hit too badly.
Repairs that included structural damage or air bag deployment will result in your losing 30%-50%, regardless of whether yours is a desirable car or not. Can't be certified, banks won't finance, etc. Off to auction they go. So, a car that only had $5K in damage but also had structural repairs and/or air bag deployment will lose far more than a car that had $20K in repairs with no structural or air bags.
