HFBamafan

Well I was in an accident 7 few weeks ago and it was the other persons fault. I sent out the form USAA asked me to last week and waiting for their low ball offer.

I live in GA so I know we have the ability to claim DV.

The is350 is a 2011 is350 bought in December 21'st and only had 2400 miles on it.

Total amount of damages on the Lexus was 18.9K. If the original quote was that much I would have hired a lawyer and had them total the car out, but the shop estimated it to be 14.5K. Hit me on my front left fender and destroyed the total driver side fender as well as DESTROYED the suspension. Airbags deployed and everything. Was in the shop for 35 business days.

Should I go ahead and hire an appraiser as well as someone that is knowledgeable regarding DV situations? And I am willing to go the lawyer route so I can have him crack some skulls.

Any help or suggestions would be very much appreciated, and I thank you for your time.

Hunter

Joeb427

iTrader: (1)

I believe if Jersey anyway,a vehicle has to have a repair of 75% or over to total it.
If Georgia has the same policy,an '11 IS350 would have to have more than $19K in damage to total.
I received an $1100 diminished value payment from other party's insurance company when my Camry was rear ended in Dec.$5500 damage.100% other party's fault.

HFBamafan

Yea, i think it is 70% here and it would have been totaled, but the original estimate was for 14,500. I am setting up an appointment with my dealership to appraise the FV of the car now.

Joeb427

iTrader: (1)

Base '11 IS350 should be worth in the high $30K's retail and low mid $30K's trade in.
It would have been nice but $19K damage wouldn't total it.Let alone $14.5K number.
Diminished value number should be high but it's a fight.

In Jersey,the diminished value is in it's infancy.I was told they use a formula used in the south.
I got $1100 and maybe could have gotten a few hundred more but didn't want to push the envelope.$1100 was more than I thought I'd get.I didn't think I'd get anything.

bitkahuna

iTrader: (20)

hey hf, just want to say very sorry your nice car got whacked. hope it works out to some satisfaction.

mmarshall

Sorry to hear about your misfortune. Do you still owe anything on the car, or was it paid off in one lump sum when you bought it? If not, and if it is totalled, you may have to also compare what is still owed on it with the check you get from the insurance company. That is what so-called "Gap" insurance takes care of.

IS-SV

Sorry to hear about the accident, especially when it involves a pristine new car.

The car is not totaled, as clearly stated.

The IS350 owner not being at fault, so any payment is negotiable and first pass does not have to be the last.

Joeb427

iTrader: (1)

I just reread you post and see it had airbag deployment.
Airbag deployment will show and that really kills trade in and sale value much more than just an accident on Carfax or Autocheck.
I'd demand thousands in diminished value.

HFBamafan

Yea I just found the final invoice, it was more around 19.7k in damages paid out. I went to my Lexus dealership and talked to my dealer. We had their used car appraiser value the car and said that my starting point is around 3k. Car is not paid in full but paid 3k under invoice for the first is350 '11 in the city.

Talked to our family's corporate lawyer and said that he would be more than happy to assist me free of charge.

Just have to wait until usaa reviews and calls me with opening terms

flipside909

Are you insured by USAA or are you the claimant?

Reason why I ask is because DV can be exclusionary on your contractual policy with your insurer. If it specifically states that diminution of value is excluded from your insurance policy, you can't claim it.

Joeb427

iTrader: (1)

Same with my insurance company Traveler's at that time.
I had to get any DV from the other party's insurance company.With a bit of a fight,I did.
Now the fact I didn't file any medical claim may have helped.I didn't sign a waiver against future medical claims either.
I had lawyers sending me letters wanting to represent me in a medical suit but I didn't want to play the game.
I was told by many that with a rear end hit,you'll always get something.Many times on the steps of the courthouse.

HFBamafan

Just got a call from USAA saying they have completed everything and the estimate is about 3600

KillaIS250

iTrader: (1)

Why such a large decrease from the original damage estimate?

whoster

it sounds like DV payment is $3600, not the estimated damages.

HFBamafan

Yea, Ill put that in my trading account and double it in a few weeks. Nice money to trade options with.