Good point made on diminished value. Some states allow it, some do not. The best and most widely accepted formula is the State Farm 17c formula. I used it myself after a fender bender. Got a very fair settlement amount for my new-ish RX. I don't think I would have gotten a penny more by hiring a a DV appraiser. 17c is too long for this post but Google it for the formula.

 

So far, $30,000 to repair. Plus salvage value (engine, seats, etc.) approaching, if not exceeding 75% of actual cash value. Likelihood of "total loss" payout?

 

California uses Cost of Repair (so far 30K) + Salvage Value (Engine, seats, plus) = to Actual Cash Value (47K per Edmunds). Also, despite this formula, in California general rule is "totaled" if Repair + Salvage > 75% ACV.

17c formula much different?

 

How can anyone guess without any photos? Not even one?

 

Anything that new with that much damage I'd really push to get that thing totaled.

If for some reason it doesn't total, definitely get the diminished value and get rid of that vehicle as fast as possible.

 

How is diminished value calculated?

 

Ive never had to claim it but domino mentioned above a calculation. But you'll want to hire a professional appraiser to evaluate the claim.

 

https://diminishedvalueofgeorgia.com...-its-not-fair/ plus a link to the a calculator.

 

See @Eagleboy99 answer in a post. 17c is quite easy to figure yourself.

 

State Farms 17c is widely accepted for calculating diminished value. In my experience there is no need to hire an expert. It is a simple, DIY formula. Getting any insurance company to pay DV, that is another matter. I won a sizable DV claim against Allstate by presenting them with my 17c estimate. And note some states do not allow DV as part of a claim.

 

Diminished value is primarily based on the cost of the repair (which is a surrogate for the extent of the damage). Insurance companies will ALWAYS try to lowball you. A DV appraiser got me double what the insurance company said was their best and final offer!

 

Insurance companies will pay you what you will take. They want to avoid attorneys and cost. So if you use their formula's, they know they are dealing with a knowledge consumer. Allstate immediately settled with me once they saw my calculations that the DV experts use (State Farm 17c). DV experts are useful for those who don't want to run the drill themselves. But the upper limits on the dollars are quite fixed and knowable. And in some states, DV cannot be claimed at all. If I had a half million dollar Ferrari or something that got crashed, I'd probably skip DV resources and go straight to an attorney.