Diminshed Value Claims

[TonyandLesley]

Ok folks, our first time here, so will try our best.

We recently suffered some damage to our coach, from an 18 wheeler reversing into us, whilst stopped to fuel up!!!
So, we had repairs completed, and are now fighting to claim for Diminished Value!! The whole thing about this is very frustrating, so we are now at a point of asking if anyway on this forum can offer any advise to help us out. We have tried the independent appraisal, and submitted that to the "at fault company's, insurance company" and still they are not accepting our claim.....help!!

[Bruce_Brown]

This one has run its course.

[Bert_Ackerman]

ST LUCIE APPRAISAL wrote:
Just to play along...say your old Explorer is worth $5,000 and the accident caused $3,000 in repairs including structural damage. Any Ford dealer would tell you that they can only give you $2,500 because of the repair history. So, you lost twenty-five hundred. And that's ONLY if you are trading it in on another car. If you are just looking to sell it they will offer even less.

Most people here could use an extra $2,500.00. How about you, Mr. Skeptic?

No

[ST_LUCIE_APPRAI]

Just to play along...say your old Explorer is worth $5,000 and the accident caused $3,000 in repairs including structural damage. Any Ford dealer would tell you that they can only give you $2,500 because of the repair history. So, you lost twenty-five hundred. And that's ONLY if you are trading it in on another car. If you are just looking to sell it they will offer even less.

Most people here could use an extra $2,500.00. How about you, Mr. Skeptic?

[ST_LUCIE_APPRAI]

Bert Ackerman wrote:

ST LUCIE APPRAISAL wrote:

dodge guy wrote:
I was just in an accident with my 2001 Explorer which has 192k miles on it. I’m thinking about going for diminished value from their insurance!

Make certain there wasn't a prior repair done to your vehicle because if that's the case the insurance company will practically force you to sue their insured in order to collect.

ROFLMAO....which is most likely what the insurance company will be doing also. What is the diminished value on an 18 yr old Ford Exploder? $3.00?

[JALLEN4]

rgatijnet1 wrote:

JALLEN4 wrote:

The reality is that those vehicles repaired improperly and presenting a potential structural risk can be discovered by a competent automotive inspector.

Please explain how a consumer is supposed to inspect a vehicle after it has been repaired? Where are these competent automotive inspectors? Determining if a vehicle has been in a accident is easy. Determining if it has been repaired right is not easy and an incorrect repair can easily be hidden by bondo and paint.
I was never talking about a cosmetic repair. I clearly mentioned a unibody with a replacement quarter or rear end when talking about diminished value..
I assume that you have not viewed "my profile" when you decided to call me uneducated and inexperienced when it comes to vehicles.

I have now read your profile. I congratulate you on being a general contractor and having a hobby of working on old things. If a question comes up about a commercial building we will know where to go. On the other hand, I am a retired new car dealer who owned numerous body shops. I dealt with these questions for a living daily for decades.

The consumer has a number of options when looking for an inspection of a potential used vehicle. There are usually dealers, independent garages, body shops, and other professionals in any community that offer the service. Yes, for the amateur, bondo and paint will cover up a lot of things. People who actually are involved in these things see the bondo and know then what to start looking for.

As a person who has been involved in the sale of tens of thousands of used vehicles, not having a potential purchase inspected by an independent professional is really dumb!

[mc_cc]

ArchHoagland wrote:
Did you turn it into your own insurance company?

Good point! Florida is a no-fault state. In Florida, turn it into your own insurance company and let them fight the other guy. I'm not sure what state you live in though. Start with your own insurance company though. Hopefully you have comprehensive coverage.

[4x4van]

I think what many of you are overlooking is the fact that very seldom (if ever) are vehicles with major and/or structural damage actually repaired. Those are totaled, simply due to the high cost of repairing, and end up with salvage titles. "Repairable" vehicles are very unlikely to have major damage that will compromise the safety of it's occupants. So again, how does a vehicle with minor damage that is repaired properly sustain "diminished value"? It doesn't. At least it didn't, until "sheep" started drinking the koolaid and were convinced that they were "owed" something more than what traditionally was accepted. Not a whole lot different from outrageous court settlements for "pan & suffering" or "emotional distress" that are commonplace today.

JALLEN4 explained the whole "Carfax" scam extremely well. Just a couple years ago, I purchased a 2008 Hummer H3 Alpha with a very clean Carfax. No accidents, no major repairs. I have since found evidence of significant right front end damage. Repaired correctly, it still runs/drives perfectly. "Diminished value"? I think not. Yes, I would have still purchased, for the same price, had I noticed it at that time.

[wallynm]

We had a car damaged in an accident and I can tell you the car fax report had little to no information that related to the accident report of repair report, estimate or claim. The car fax report did not identify the correct side of the car that was involved and the accident description had not relation ship to the accident report.

IMHO carfax is a fraud

[Bert_Ackerman]

ST LUCIE APPRAISAL wrote:

dodge guy wrote:
I was just in an accident with my 2001 Explorer which has 192k miles on it. I’m thinking about going for diminished value from their insurance!

Make certain there wasn't a prior repair done to your vehicle because if that's the case the insurance company will practically force you to sue their insured in order to collect.

ROFLMAO....which is most likely what the insurance company will be doing also. What is the diminished value on an 18 yr old Ford Exploder? $3.00?

[ST_LUCIE_APPRAI]

dodge guy wrote:
I was just in an accident with my 2001 Explorer which has 192k miles on it. I’m thinking about going for diminished value from their insurance!

Make certain there wasn't a prior repair done to your vehicle because if that's the case the insurance company will practically force you to sue their insured in order to collect.

[rgatijnet1]

dodge guy wrote:
I was just in an accident with my 2001 Explorer which has 192k miles on it. I’m thinking about going for diminished value from their insurance!

Take it to that great body shop that you know. They will make it better than new and probably roll the mileage back to zero, just because you are such a good guy. :R

[1968mooney]

dodge guy wrote:
I was just in an accident with my 2001 Explorer which has 192k miles on it. I’m thinking about going for diminished value from their insurance!

Good luck getting anything. That vehicle should not qualify for any physical damage coverage. You guys have gone way out in left field on this discussion. Hire a attorney, pay him $2000, collect $1000 dim. value, and now everybody is happy. :h

[dodge_guy]

I was just in an accident with my 2001 Explorer which has 192k miles on it. I’m thinking about going for diminished value from their insurance!

[ST_LUCIE_APPRAI]

Any qualified RV repairer can tell you whether the vehicle was properly repaired. With structural damages, the RV has lost almost half of its value if the true extent of the repairs are disclosed. Repaired properly or not, would you want to buy a previously frame-damaged vehicle?