Anybody Ask For Diminishing Value Compensation?

[Grimreaper]

Got rear ended in drive through. $800 repair. Insurance paid $500 depreciation. Basically "go away" money. Larger repairs will justify larger depreciations though. I've seen 7 to 10k given for frame or structural damage on large repairs but that's not what you have. The headlight is $1500. If the aluminum fender buckled the blend into the door and hood will easily put the repair into $2k if the light is ok. Usually the back of the light cracks on a hit like that.

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[Grimreaper]

Technically if the repair is sound and proper (not the time to try and save the deductible! ) the value is restored in full. What your fighting for is exactly what has been discussed... perception of lower value.

 

[JayTea]

Got rear ended in drive through. $800 repair. Insurance paid $500 depreciation. Basically "go away" money. Larger repairs will justify larger depreciations though. I've seen 7 to 10k given for frame or structural damage on large repairs but that's not what you have. The headlight is $1500. If the aluminum fender buckled the blend into the door and hood will easily put the repair into $2k if the light is ok. Usually the back of the light cracks on a hit like that.

Just got the car back. Total repair cost was $6k. Hopefully I'll get something substantial to the repair cost.

 

[IPOGT]

And the police let the old man drive away? Not everyone should have a drivers license. Yet another instance that highlights we need to have re-occurring testing for drivers...

To the OP, sorry to see that. Not exactly sure how someone hits a parked car....good luck.

Well, I'll tell ya. Kid buys 1970 olds 442 for 800 bucks. Kid works in an auto repair shop. Does tune up on said 442. Kid takes car for test drive after tune up. Romps on the throttle on a residential street and car loses traction and sideswiped a parked pinto wagon. True story. I was that kid.
Power is something you should have experience with BEFORE you romp on it.

 

[JimG_AZ]

I think you are going to be in for a fight with the insurance company for a substantial amount for diminished value. Your accident mainly looks cosmetic. I would certainly try, but I doubt you will find it worth it if you have to secure an attorney. I researched this last month when my 2017 GT (RIP) got rear-ended by a BMW and then forced into the GMC PU truck in front of me. I had one of my airbags deploy and I knew the damage was going to be significant. I was ready to hire an attorney for diminished value when Geico was considering repairing the car. That all changed when they declared the vehicle a total loss.

 

[15BluStang]

Diminished value is required by law to be paid out by insurance companies in the state of Georgia.

 

[sicpuppy]

This thread is about Diminished value not Fax reports.
I had someone hit my Kia and did some damage. I contacted the Insurance company and asked for $1000 diminished value. They agreed with no hesitation. I think if it is a reasonable amount they would be ok with it.
I currently have a 2018 GT I owe $39000 on but the trade in value is $27000. I think $10000 would be unreasonable for me to ask if I was in your situation. $3000 may be more reasonable.

It has been my experience that the dealer ask if there has been more damage than 1/4 the value of the trade in, if not they didn't care.

Let us know how this works for you.

 

[Horseplay]

Are accidents public information? Are they searchable?

Yes, police reports are public information.

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