vbx

any updates? total or not total?

Skinnyfats

Also be sure to ask if the insurance company pays for diminished value. Now that your car has been in a wreck you will not be able to get top dollar for your car. Some insurance companies pay it some do not. Even if your car is fixed you are looking at a loss in value.

http://www.nasdaq.com/article/how-to...claim-cm174744

Bass Mech

just for some clarification here it's not really up to the insurance company to decide if they should pay diminished value or not. their obligation to the claimant is to make him WHOLE again. if they fail to pay the diminished value i would be talking to the department of insurance about that.

also some states regulations come up with the amount of DV differently some states actually have a formula for it. but in general, its value is that which will be lost when selling the car on in the future.
IMO i think the cars value assuming the repair is near perfect is about 5-6,000 bucks.
i think if i was a buyer of a used car and armed with the information it was involved in a wreck and repaired i might be an interested buyer with a discount of that amount.
and thats really all diminished value is. compensating the owner back what he is likely to loose when he gets ready to sell or trade in later on.

like the article states, it's not something they will give up easy!

i had a 2008 Corvette Z06 once and an older guy and his wife were in a pickup truck in front of me as i was exiting a Sonic restaurant when the duma$$ decided it would be a good idea to back up so he could use another exit from the parking lot. well he didn't see me behind him waiting for him to make the turn into traffic and despite my honking he backed right up over the hood of my car!
after about 10,000 worth of repairs (corvettes aren't cheap to repair) i had to fight for DV and i got 4,500 bucks.
when i sold the car i was lucky enough to get a buyer who wasn't bothered by the fact it had been repainted and repaired in the front. so despite selling the car for 40k that i had originally bought used for 45k 2 years prior i made out pretty well.

Skinnyfats

Companies don't give it up easy but some do but they will not tell you they pay this coverage it is not a known thing. You have to ask to it.

Worst they can say here is no. I have had it paid once. Since he got hit by a company vehicle there might be an outside chance they will pay it.

Bass Mech

oh he will definitely have to fight for it! your right, the Ins company is well aware of it, trust me, they are hoping the claimant isn't!

in the case of farm bureau i got the run around from the claims rep for over a month telling me the check was in the mail. (a lie) i finally had to get hold of her supervisor told him i was done playing games, he agreed to have a check cut for me that afternoon. i drove 75 miles to their corporate office and took a hand delivery of the check personally so i wouldn't have to listen to anymore the check is in the mail garbage!. i cashed it before i left denver at their local bank.

vbx

Since the vehicle is leased, the does diminished value go to you or to the dealer? And since you're in CA, it's gonna be a battle to get diminished value.

Bass Mech

often times your best bet is to get some documentation from a 3rd party who is in the business such as a dealer. the only bad thing is now they know they can get another 5g's from you on trade in. you may be better off next time you go to trade in your lease talk to a different dealer. no need to hide the fact it was damaged and repaired, they can see that on car fax, but i certainly wouldn't tell them you got 5 grand (if you actually end up getting it)

technically nothing in your lease says your obligated to pay a penalty for having had a car thats been repaired, accidents happen. but i do think you have an obligation to return the vehicle in as good as can be expected condition at lease end.
and with that, that is one of the best things about leases, your protected by the terms of the lease when it comes to turning the car in. if i were you i would turn the car in at lease end, then go to a different dealer and lease another car. i would be a little too worried someone at the dealer may not be willing to give you a fair deal next time based on the discussions that have taken place so far.
if the dealer doesn't like the fact they can't rape the next customer for another 6 grand in markup on this particular car they always have the option to wholesale it and not worry about taking any loss on it.
but to penalize you personally 5 grand for something that wasn't your fault is not my idea of good customer satisfaction.

be it a lease or a purchase your still left with the very real fact your going to take a loss if you sell it, trade it. that fact won't change! you shouldn't be forced to keep it the entire lease for this fact, and you are supposed to be made whole again. if the dumb a$% hadn't cut you off in the first place you would have not suffered this loss. so with that in mind the ins company needs to pay whatever they owe and if that includes DV then they need to pay it. wether you leased or bought matters none, they don't to avoid paying what they owe because of how you purchased the car.

(DexRox im repeating these things for the other readers, as we have already discussed this)
my biggest fear for you personally is they don't deem the other guy 100% at fault, if they assume anything but 100% liability your going to loose part or all of the DV. their position is that YOU ran into a fixed object, you did not hit their insureds vehicle. therefore it's hearsay as to wether of not their insured actually caused you to wreck.
this is why my first message in this thread advised that your far better off hitting the SOB that cut you off rather than trying to avoid it, but i know when your trying to avoid wrecking your new car we never think that way! and i really fault the cop for not writing the other guy a ticket! that was just poor lazy police work!

the good news is you already know you have an out to this mess. the most you'll be out is your deductible and if you have to keep the car until lease end and turn it in, start over you have that option available to you.

for what it's worth. my wife rear ended someone in her 2008 lexus Gs350 several years ago. the damage was minor cosmetically but to fix it back to perfect would have been 1500 dollars. not wanting her to have an at fault claim against us and a higher insurance cost, we paid the other party for their damage (900 bucks) and elected no to repair the Lexus. we traded it in early with the minimal damage to the Acura dealer about a year later, they subtracted about 1000 off the value of the car because they wanted the sale. even got the Acura discounted a couple thousand as well!
so it worked out pretty good.
i think the biggest difference here was that we never filed a claim on the car to there would be no car-fax to find, i suspect the dealer had the car repaired and sold on without ever telling anyone it had been repaired. (it was pretty minor the only part that needed ordered was a front grille and a good buffing would fix the bumper)
but this car will have a car-fax ******* your resale value in the future.

i say, just see how it plays out. stuff happens, that's life! sometimes you find 100 bucks on the sidewalk and sometimes you get screwed but i promise when this is all over it will fade away like a bad memory as soon as you get your car fixed and back on the road. worst case turn in the lease at end of contract and start over. best case some dealership near you will overlook it, doc you some money for trade in value give you a great deal on a new car and life goes on.. this is not by far the first new car that's been wrecked and won't be the last!
others have been through it and you'll get through it also.

LRCSALES

iTrader: (1)

Sorry this happened to you and your new car. We have a nebula gray fsport in stock. Just arrived

modthispny

When you enter into a lease agreement, the lessor is required to buy back your lease at the end of the lease term at a “guaranteed fixed value,” regardless of accident history. The only stipulation is that you have the accident damage repaired to satisfactory standards, which is as simple as calling your insurance agent and bringing your vehicle back to the dealer. Therefore, your total liability in the event of an accident in a leased vehicle is only your insurance deductible.

Bass Mech

so relieved to hear you had a satisfactory outcome, thats 1 hurdle youve gotten over, now see if you can get a diminished value claim. did they estimate how long till your car is out of the shop?

4TehNguyen

iTrader: (1)

get it repaired at the dealer then for lease purposes

SW17LS

Thats BS. if its damaged, it should be replaced. Don't stand for that.

alexlude

ditto.... what kind of insurance do you have? Janky adjuster!!

Bass Mech

there is absolutely no reason whatsoever to wait till the claim is done to switch companies. they still have the same obligation to repair the car wether your a customer or not.

if you don't like your company or your agent i wouldn't put another dollar in their pocket! if i sold in california i would take care of you myself.
if you need help locating an agent near you, send me a text or go to our company website and put your zipcode in, find a local agent.

alexlude

I recommend State Farm.. can be a little pricier, but every time I had an issue to go with insurance, they exceeded my expectations!! you can get multi-car/ home & car / good driver discounts.