does anyone have any experience with diminished value? as some of you may know my car was involved in a collision that i was at zero fault for. Im going to try my hardest to get a dimished value check out the guys insurance company that hit me...my car was only 3 months old and still in 100% perfect condition and now it has about $5k worth of damage to it. Anyone know what kind of diminished value check I can expect? because i know this lowers the resale value of my car a lot.

 

Surprised your asking about diminshed value, most people dont know about it.

I was in an accident a few years ago and asked for diminshed value, went as far as getting prices of what dealerships would give me before they new it was wrecked and after and it was like a couple thousand different, I asked for that from the other insurance company and only got a couple hundred. In some states you cant ask for it, I can find out which ones if you want. I work for a trucking company and deal with auto accidents.

Good luck.

 

in my state you can ask for it, but the states you cant ask for it is only from your own insurance company. Im not asking for it from my insurance company anyway...its the insurance company of a guy that hit me and was at fault. I have an agency around my way that will estimate the diminished value of the car after the repairs....I want what is fair for me, i want a couple thousand since this is only a 3 month old car.

i know most people dont know about diminished value,im resourceful

 

Since you know someone that can determine the diminished value, I would shot for that figure and go from there. Good Luck.

 

If his insurance company gives you the run around you can sue the driver him/herself in small claims court. That is, as long as the total you are asking for is small enouth to keep it there.

 

I had a 1980 Corvette in mint condition with 27,000 original miles on it and I parked it on the street just ONE night..Yup ,you guessed it some 87 year old man hit it and put it on the sidewalk causing $3500 in damage..Diminished value alright..I sold it 2 years later for $5000 when I could have gotten $10-12000 for it before things were replaced...NJ sucks and old people suck!!!and they shouldnt drive after 65!!!

 

So I assume that when you are 65 years old you will not drive anymore and gladly give up your freedom?

 

As you know, diminished value is the difference between your vehicles pre-accident value and post-accident (after repairs) value. Any dealership should be able to estimate these values for you. Until you actually sell the vehicle the estimates are just that estimates or opinions. That is why an insurance compay will
try to negotiate on the amount. Good Luck. Later.

 

Umm..last time I checked driving was a PRIVILEGE not a RIGHT...And if I am 65 and and deemed a hazzard to operate a Motor Vehicle then hell Yeah I will gladly give up my Privileges in the interest of safety. Remember that old guy in California that killed like 9 people??Sorry to get off the subject..

 

I believe it is spelled "privilege" but I could be wrong. After all, I'll be 60 in November and probably have diminished skills. I don't think I'll be willing to give up driving when I turn 65. People of any age can be involved in an accident.

Les

 

I agree one hundred percent with that statement. BUT why is a person not allowed to drive until a certain age but once he gets that "PRIVIL-E-GE" does he keep it indefinitely. thats BS! I was trying to stick to the point of how an elderly gentleman who had NO business operating a motor vehicle diminished the value of my "classic car" ...As a matter of fact I think I will start a thread on this subject.https://my350z.com/forum/showthread....threadid=41259
There..Now we can get some opinions on the subject of a person who has the reflexes and reaction time of an infant, operating a 3000lb missle on the same streets our children play...

 

Maybe you should be a responsible parent and not let you kids play in the street????? Later.

 

You completely missed the point to make a sarcastic comment on a literal translation. I meant STREETS as in public passages..IE. sidewalks, parks,crosswalks ect...You know what I mean but you just needed some attention I guess..