Diminished value
Le Mans Master
Joined: Jul 2004
Posts: 5,043
Likes: 943
From: Bonney Lake Washington
Been there
I have been rear-ended (ready?) SIX TIMES; all were other driver's fault from a 90 year old fella in his Buick to an 18 wheeler splattering me while I was doing 60 and he was over 90 (and on drugs).
One of those was my wife and I in her Prius at a stop sign hit by a young mother AND HER BABY. Sorry it still ticks me a bit...anyway after that I looked around on line and found a calculation from the state of Georgia, long story short, on a '13 Prius needing rear bumper replacement it calculated diminished value at about a grand (2 years ago). I called her insurance company and the second I said "diminished value" I was transferred to a guy who does just that. He offered me 500 bucks and we settled on 750. I had a check in less than a week unrelated to the repairs. Its very real and needs to be acknowledged......
One of those was my wife and I in her Prius at a stop sign hit by a young mother AND HER BABY. Sorry it still ticks me a bit...anyway after that I looked around on line and found a calculation from the state of Georgia, long story short, on a '13 Prius needing rear bumper replacement it calculated diminished value at about a grand (2 years ago). I called her insurance company and the second I said "diminished value" I was transferred to a guy who does just that. He offered me 500 bucks and we settled on 750. I had a check in less than a week unrelated to the repairs. Its very real and needs to be acknowledged......
Race Director
Joined: Mar 2001
Posts: 19,984
Likes: 6,783
From: Bonneville Salt Flats
No way around it... it was damaged. I don't see how anyone can determine how much that printed on a CarFax report might or might not be worth to someone at sometime in the future.
Melting Slicks
Joined: May 2011
Posts: 2,072
Likes: 462
From: Lincoln, CA.
‘Here in California, if the repair cost is a minimum of $1,500.00 it must be reported.
Drifting
Joined: Jun 2021
Posts: 1,413
Likes: 948
Here in NY the bodyshops do not report the accident. The insurance does it along with the local PD if damage is over $1K
