Would you keep it?

[CliffClavin]

They told me dealer was alright, unless I talked to some dumb State Farm agent. What would I need to search for to find a "certified appraiser"?

I would be absolutely stunned if it got you anywhere and even if it did, you are not going to like the offer. Look up vehicle appraiser. Typically will see diminished value claim specialist listed under the scope of work. It is a pain in the ass process so you need to know it will not be settled overnight.

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[Konamoth]

I would be absolutely stunned if it got you anywhere and even if it did, you are not going to like the offer. Look up vehicle appraiser. Typically will see diminished value claim specialist listed under the scope of work. It is a pain in the ass process so you need to know it will not be settled overnight.

The services I'm finding in googling around are $350 up-front and $300 hourly. I almost question if it's even worth pursuing at that ridiculous of an hourly rate.

Something seems fishy though. Now that I'm home I'm ringing them back to get details on how they calculated this—the notice I received was literally one page:

"Georgia law requires State Farm® to assess whether your vehicle has sustained a loss in value
in addition to the costs to repair your vehicle. We have made that assessment using a formula
authorized for that purpose by a Georgia court.

That assessment reflects no loss in value.
"

Doing some digging, it seems there's no small amount of fuss regarding State Farm and a particular DV calculation formula, 17c, specific to Georgia. It was used in a class action and labeled appropriate there, and apparently insurance companies ran with it to the point the insurance commissioner issued a statement regarding its use.

I want to see if that's what's going on here. If so, we gots a problem.

 

[Konamoth]

Small update: I ran Carfax on it, just for fun (Not that it's the be-all end-all by any means, but, since most dealers will run them anyway.) and it turns out the accident is only reported as minor. I've also received confirmation from the body shop that did the repair, that the reported "frame damage" only encompassed the trunk cap and rear quarter, and not anything below. Huzzah.

Oddly, Carfax lists its trade-in value at $32,000, I figure a realistic figure that would be given is more like $27,000. Maybe $30,000 at best. But with the used market being as wild as it is presently, who knows.

I'm still back and forth on whether I want to go through with chasing diminished value or not. I have decided to go down and see what the dealer says they'll give on Saturday—if it's a number I like, I may just spring for the '21 on their lot.

 

[Atlas1]

Small update: I ran Carfax on it, just for fun (Not that it's the be-all end-all by any means, but, since most dealers will run them anyway.) and it turns out the accident is only reported as minor. I've also received confirmation from the body shop that did the repair, that the reported "frame damage" only encompassed the trunk cap and rear quarter, and not anything below. Huzzah.

Oddly, Carfax lists its trade-in value at $32,000, I figure a realistic figure that would be given is more like $27,000. Maybe $30,000 at best. But with the used market being as wild as it is presently, who knows.

I'm still back and forth on whether I want to go through with chasing diminished value or not. I have decided to go down and see what the dealer says they'll give on Saturday—if it's a number I like, I may just spring for the '21 on their lot.

Hope it turns out good for you either way. If you can take advantage of the crazy used market and get into a new one I wouldn’t hesitate in your situation!

 

[Konamoth]

Hope it turns out good for you either way. If you can take advantage of the crazy used market and get into a new one I wouldn’t hesitate in your situation!

Most definitely. Especially since the one on lot is optioned just about exactly how I was building them on the configurator. (401A, Security, Active Exhaust, Spare) Being a '21 is convenient as well, since '22's are still up in the air with tuning right now.

I'll miss the manual if I spring at it, but... I've driven the 10-speed and know it feels nice. If they give me a number I like, I suppose we'll see where we go.

 

[Torched10]

A trade in estimate from a dealer is unfortunately not going to get you anywhere with a diminished value claim. You will need to go to a certified appraiser to document your loss.

Have you considered selling to carvana or vroom first
See what they offer then buy the car off the,lot

 

[Konamoth]

Have you considered selling to carvana or vroom first
See what they offer then buy the car off the,lot

Carvana and Vroom won't purchase cars with an accident reported on their title.

 

[Torched10]

Carvana and Vroom won't purchase cars with an accident reported on their title.

Makes sense.good luck.i also live in Georgia and have state farm as well
When I totalled my wife's vette they gave me a 40k check i2 days.hope they work with you that quickly

 

[Mr. Maboomba]

Carvana and Vroom won't purchase cars with an accident reported on their title.

They won't buy salvage title cars but they will buy cars with minor damage reported on Carfax.

 

[Garfy]

Makes sense.good luck.i also live in Georgia and have state farm as well
When I totalled my wife's vette they gave me a 40k check i2 days.hope they work with you that quickly

I've had State Farm for most of my adult life and I've never been disappointed. Some years back I was very surprised (even my agent was) when my wife totaled our 2000 Civic that I bought for $3500 used a couple years prior. In a phone call from my agent to their national claims department, the guy told us that they would pay us $5200 for the car and we'd only lose our accident-free discount for that car's policy (which would go to our replacement car we bought). Needless to say, we were delighted in the outcome. They've always been good to us and would never leave. But, how's this for a deal; after I got my GT, the initial premium was around $350 for 6 months (I have very high liability coverage due to our Umbrella liability coverage which requires all our cars to have the high liability) but at the first renewal, it came out $7 less than my 2012 Fit Sport! WTH? My new 460 HP sports car that's worth more than triple my older Honda has a lower premium? I guess the all 5-star safety rating on it must be part of the reason. The other part is I drive the Fit a lot more (my Mustang is my "fair weather" car).

 

[shogun32]

the initial premium was around $350 for 6 month

age and location matter tremendously.

 

[Garfy]

age and location matter tremendously.

True about "age and location", however both my Fit and my GT are in the same location and driven by the same "old guy" . I'd like to think the difference is regarding the miles I put on both, but that still doesn't wash much with me. BTW both cars are on their "Drive Safe & Save" program and I do "punch it" on my GT (not all the time obviously) so I'm still wondering about it being cheaper than the Fit.

 

[shogun32]

so I'm still wondering about it being cheaper than the Fit

I'm more interested in the $60/mo coverage. As to why Fit >= GT on cost, that's black magic. Maybe they have the GT displacement down as 0.5

 

[Garfy]

I'm more interested in the $60/mo coverage. As to why Fit >= GT on cost, that's black magic. Maybe they have the GT displacement down as 0.5

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