jjscsix

It may or may not be worth an attorney, but I'll bet the difference in resale value if the damage is anything more than a simple panel repair is at least $5,000. I know if I was looking at buying a used GX and lets say one lists for $35,000 and had never been in an accident, and the other lists for $30,000 but had $10,000 in repairs (not an uncommon amount) I'd pay the extra $5,000 in a heartbeat, wouldn't you? That is real money and in this case the fault of the other guy.

I would pursue it very aggressively without an attorney first. In this day of information overload on the Internet and some basic homework I believe you should be able to negotiate diminished value. I've seen it done without an attorney. I can assure you it IS a real claim. Too many people just give in because they are either naive and believe what they are told by the insurance company, or they just don't have the stomach to put up a fight.

My 2015 Audi A7 was hit twice from behind. Very minor damage both times (simple bumper replacement). After the second one I went to the Sales Manager of the dealer and asked him if two car fax reports would hurt the value. He said they now report if the damage was minor or major, so probably not any real difference in resale value. So I asked what they would give me on a trade for a new one. The number was so high I jumped on it and traded for a new one that day.

I did not want to put up with dealers two years down the road telling me it's ONLY worth XXXX because it has two car fax reports. And you know that would have happened.

Craigyyy

Yeah I don't know about everyone else here, but losing a few grand of value on a car is a big deal to me.

Sure there is always a bigger fish, some guy who crashes his 250 GTO or something, but it makes my little-guy case no less legitimate or somehow not worth pursuing.

If I had to pay an attorney $4k to get a $5k DV settlement, I'd pay the attorney in a heartbeat.

rld14

Well let's use this as an example... 2 GXs that I have on the lot right now, both CPO'd:

GX #1: 32K. Premium Package

GX #2: 30K. Base, Nav only (Nuluxe seats, no heat, no wood steering wheel, etc).

GX#1 is priced $2,000 less than GX #2 because it has a bad Carfax. GX #1 has had a bumper painted, no paintwork on the body, all body panels original. Bumper skins original. Meanwhile everything else being equal GX #1 should be worth around $2K more than #2

Valley101

JJCSIX. Your comments are only speculative. You bet!!!. If a lawyer cost $4000 and you could collect $5000 on a claim you would jump on it. Did you consider the lawyer will charge you more than you would recoup on DV. You bet, means it is a gamble. Get your car fixed, sell or trade it before the car fax report is produced like you did on your Audi, if you are concerned about DV. You are going to be out some amount of money trying to recoup money on a product that by its very nature is a declining asset. Like I said a GX does not have that much value once used, that you will lose a large sum on DV, after settling your insurance claim.

DIMINISHED

Some clients ask me whether they should pursue diminished value claims in instances when their car repairs don't show up on Carfax or Autocheck.
My answers are A) These reports are frequently updated and B) Some people in that position would feel a moral obligation to disclose the fact that the car was in a wreck to potential buyers.
Many people don't feel that way, however so, FYI, it's Dog Eat Dog out there. Let the buyer beware.
PS: I won't be buying any cars from Valley 101.

Craigyyy

What he ^ said.

It won't hurt to consult an attorney.

Like you said in your first post, you just want to be made whole.

Acrad

Old thread resurrection...

https://www.insurance.wa.gov/how-fil...after-accident

Considering doing this on my GX for the $3500 damage that occurred last month.

Post 587 - https://www.clublexus.com/forums/gx-...l#post10693071

Thoughts, comments, questions, or suggestions?

tecman

Interesting, I didn't think of this when a customer bumped my rear and I had it repaired. Diminished value compensation seems like a reasonable expectation from an insurance company.

cb1111

I went through this a few years ago when some driver in a Mercedes decided to cut between me and the car to my left - but didn't make it. My TSX wagon ended up with $12k of damage. I was living in MD at the time. MD law was that an insurance company had to pay the DimVal as determined by a certified appraiser. The appraisal fee is also paid by the insurance.

I paid about $300 for the appraisal and the appraiser determined the "before accident value" of $27k and the "after accident" value of about $24k, so the diminished value was about $3k. My actual DimVal payout was $3526 - but remember that I had $12k in damage and a crappy repair.

I didn't care about the quality of the repair because a day after the accident (with the car all beat up), I drove to my dealer and said "what are you going to give me on a trade?" They said "take it to our repair shop and we'll give you $23k and $32 for the new one". We settled on a delta of $7500. Back then, you only paid tax on the difference, so we worked up the paperwork right then and there although I had to wait until the car got repaired before I could trade. I ended up with a one year newer car for about $4k.

To get the diminished value I did two things - the appraiser and I also drove by CARMAX. CARMAX lowballed the car at $17k because of the evidence of the frame repair.

In your position, I'd go to CARMAX and say "what will you give me?" If they tell you that there is evidence of an accident and that they are giving you less because of that, then it might be worth getting it appraised. If they don't say anything about an accident, then a diminished value claim might not bring you much (or anything).

cb1111

If it was merely bumper damage, then may not be any diminished value. Bumper resprays (if done correctly) do not affect resale value.

If metal got bent, then there may be a diminished value claim. Even if it was repaired correctly, then a paint meter can determine that on metal but not on plastic bumpers.

Acrad

It was damage to rear bumper as well as the right rear metal fender. You can see damage pics in that post I linked to above. If the right rear mud guard mounting screws hadn't been torn from bumper that would not have been replaced.

cb1111

If they mention the accident repair, then ask them how much that affected the value. That'll give you an idea if it is worth pursuing a diminished value claim.

If they say $500 or so, then you might be able to get the insurance company to pay without getting an appraisal.

cb1111

Yes, yours was metal damage. My comment above was to Tecman who said a customer "bumped my rear" that may just mean the bumper cover.

the issue always is if there a $$ value that you can assign to the change in value. In some cases it may be "if I have a choice between two cars - one with damage but otherwise identical, then Ill pick the accident free one" and it is impossible to say how much less it is worth.

In my case, there was evidence of frame straightening even though everything was straight, so that helped with the claim.

If the repair shows up on Carfax, then that will help your claim, but it may not be soon enough.

My old car (now 6 years later) still shows up as accident free on Carfax, but my sister's old lease that had a repair done by the dealer based on damage done prior to delivery (a dime sized spot on the hood) shows up on Carfax as "minor accident damage".

Good luck and keep us posted.

Acrad

You may want to check your state law. I need to confirm but thought I saw one has 3 years to pursue in my home state of Washington.

cb1111

Correct. Most states give you three years to file a claim.