Each week we report on the most interesting and informative articles concerning auto diminished value claims. This article details the diminished value appraisal of a Dodge Charger SRT 392 with 31,259 miles that was involved in a rear-end collision that caused $11,843.98 in damage. The vehicle was not disabled/towed, had no structural damage and no air bag deployment.
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Diminished Value Fort Worth
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Dodge Charger SRT 392 with 31,000 Miles that was involved in a rear-end collision that caused $600.00 in damage. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive diminished value report is key.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
After querying Dodge dealers in Texas, we learned from these three examples – if the car has under $1,000.00 worth of damage and it was fixed correctly you should not be looking at taking more than a 10% loss, plus being that there is a bad Carfax you would be looking at taking a loss around 10% plus normally at any dealership there will be about a 10-15% loss for a minor to mild accident. The opinions of unbiased experts form the basis for a comprehensive Auto Diminished Value Appraisal. We obtain six of them which puts an appraisal prepared by The St. Lucie Appraisal Company in the ballpark. This is what the car owner will experience in the real world.
Dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.
We contacted several Dodge/Ram dealers in order to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV.) Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.
Description of damage: Non-disabling collision damages to the Rear not including structural components. Repair cost $600.00. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.
The average of six (6) deductions was 10.83%. This is the percentage of Diminished Value to be taken from the Fair Market Value at the time of loss.
We have established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $40,000.00 at the time of loss. Diminished Value = $4,332.00
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.
After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.
Service in Houston, San Antonio, Dallas, Austin, Fort Worth, El Paso, Arlington, Corpus Christi, Plano, Laredo, Lubbock, Garland, Irving, Amarillo, Grand Prairie, Brownsville, Pasadena, McKinney, Mesquite, Killeen, Frisco, McAllen, Waco, Carrollton, Midland, Denton, Abilene, Beaumont, Odessa, Round Rock, Wichita Falls, Richardson, Lewisville, The Woodlands, Tyler, Pearland, College Station, San Angelo, Allen, League City, Sugar Land, Longview, Mission, Edinburg, Bryan, Baytown, Pharr, Temple, Missouri City, Flower Mound and throughout Texas. auto appraiser near 76010, auto appraiser near 76063, auto appraiser near 76137, auto appraiser near 76179, auto appraiser near 76224
This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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Diminished Value Fort Myers
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Mazda CX5 Touring FWD Tech Package SUV with 4,197 miles that was involved in a left side collision that caused $2,230.77 in damage. The vehicle was not disabled/towed and had no structural damage or air bag deployment.The claimant made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
We learned from these examples from sales managers at Mazda dealers in Florida. – With a bad Carfax, a practically new car, even with minor damage, will lose thousands of dollars in value. Also, while we personally disagree, that keeping the car would be the best option.
The opinions of unbiased experts form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them which absolutely puts the diminished value figure prepared by The St. Lucie Appraisal Company in the ballpark. This is what the car owner will experience in the real world.
Dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.
We contacted several Mazda dealers in Florida in order to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV.) Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.
Description of damage: Non-disabling collision damages to the Left Side with no damage to structural components and no air bag deployment. Repair cost $2,230.77. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.
The average of six (6) deductions was 20.96%. This is the percentage of Diminished Value to be taken from the FMV at the time of loss.
We established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $20,000.00 at the time of loss. The Diminished Value was $4,192.00.
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.
After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.
Service in Altamonte Springs, Boca Raton, Boynton Beach, Bradenton, Cape Coral, Clearwater, Coconut Creek, Coral Springs, Davie, Daytona Beach, Delray Beach, Deltona, Fort Lauderdale, Fort Pierce, Gainesville, Hialeah, Hollywood, Homestead, Jacksonville, Jupiter, Kissimmee, Lakeland, Largo, Lauderhill, Margate, Melbourne, Miami, Miami Beach, Miami Gardens, Miramar, North Port, Ocala, Orlando, Palm Bay, Pembroke Pines, Pensacola, Plantation, Pompano Beach, Port Orange, Port St. Lucie, St. Petersburg, Sanford, Stuart, Sunrise, Tallahassee, Tamarac, Tampa, Vero Beach, Wellington, Weston and throughout Florida.Alachua, Baker, Bay ,Bradford, Brevard, Broward, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, De Soto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Indian River, Jackson, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, St. Johns, St. Lucie, Santa Rosa, Sarasota, Seminole, Sumter, Suwannee, Taylor, Union, Volusia, Wakulla, Walton and Washington Counties. auto appraiser near 33905, auto appraiser near 33908, auto appraiser near 33914, auto appraiser near 33990
This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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Diminished Value Scottsdale
WE ARE THE BEST AND MOST TRUSTED AUTO DIMINISHED VALUE APPRAISERS IN THE COUNTRY. OUR COMPANY VALIDATES OUR DIMINISHED VALUE RESEARCH BY SPEAKING TO THE SALES MANAGERS AT SIX RANGE ROVER DEALERSHIPS IN YOUR AREA. THIS SUPPORTS OUR EXPERT OPINIONS, PROVIDING PROBATIVE EVIDENCE TO STRENGTHEN YOUR INSURANCE CLAIM OR COURT CASE.
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Range Rover HSE Sport Dynamic SUV with 9,200 miles that was involved in a Rear-End Collision that caused $8,546.49 in damage. The vehicle was disabled/towed, had no structural damage and no air bag deployment.
BEST REPUTATION INDEPENDENT APPRAISERS
Independent Automobile Appraisers – it is an industry that has changed but, regrettably, not for the better and definitely not for the benefit of auto owners like you and I. From small-operators to companies that offer nationwide service, many independents court insurance companies as clients rather than private parties. One may concede that it makes perfect fiduciary sense. Once they land a big fish like Allstate, State Farm or Progressive, a steady income is virtually guaranteed. Making the job even more desirable is that these appraisers can produce “computerized” valuation and diminished value reports based on formulas, algorithms, valuation guidebooks such as NADA or, in many cases, simply offer their “expert” opinions.
Diminished Value Pensacola
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Chevrolet Silverado 2500 High Country 4X4 Diesel Pickup with 3,082 miles that was involved in a Right-Side Collision that caused $3,906.29 in damage. The vehicle was not disabled/towed and had no structural damage and no air bag deployment. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage.
DIMINISHED VALUE MIAMI
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Cadillac XT5 Luxury SUV with 11,114 miles that was involved in a front end collision on 1/10/18 that caused $16,634.59 in damage. The vehicle was disabled/towed and had structural damage and air bag deployment. The claimant made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
We learned from these examples from sales managers at Cadillac dealers in South Florida. – You would lose between 25% at minimum off the trade-in-value due to it having frame damage. Also anytime a car or truck has reported frame damage you will lose 30% or higher depending on the vehicles value because they have to sell at auction and have to disclose this damage to potential buyers which makes it a hard sale. And typically that when you have a vehicle with frame damage and it was towed from the scene you are looking at taking a big hit
The opinions of unbiased experts form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them which absolutely puts the diminished value figure prepared by The St. Lucie Appraisal Company in the ballpark. This is what the car owner will experience in the real world.
Dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.
We contacted several Cadillac dealers in South Florida in order to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV.) Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.
Description of damage: Disabling collision damages to the Front with damage to structural components and air bag deployment. Repair cost $16,634.59. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.
The average of six (6) deductions was 31.25%%. This is the percentage of Diminished Value to be taken from the FMV at the time of loss.
We established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $35,000.00 at the time of loss. The Diminished Value was $10,937.50.
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.
After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.
Service in Altamonte Springs, Boca Raton, Boynton Beach, Bradenton, Cape Coral, Clearwater, Coconut Creek, Coral Springs, Davie, Daytona Beach, Delray Beach, Deltona, Fort Lauderdale, Fort Pierce, Gainesville, Hialeah, Hollywood, Homestead, Jacksonville, Jupiter, Kissimmee, Lakeland, Largo, Lauderhill, Margate, Melbourne, Miami, Miami Beach, Miami Gardens, Miramar, North Port, Ocala, Orlando, Palm Bay, Pembroke Pines, Pensacola, Plantation, Pompano Beach, Port Orange, Port St. Lucie, St. Petersburg, Sanford, Stuart, Sunrise, Tallahassee, Tamarac, Tampa, Vero Beach, Wellington, Weston and throughout Florida.Alachua, Baker, Bay ,Bradford, Brevard, Broward, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, De Soto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Indian River, Jackson, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Martin, Miami-Dade, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, St. Johns, St. Lucie, Santa Rosa, Sarasota, Seminole, Sumter, Suwannee, Taylor, Union, Volusia, Wakulla, Walton and Washington Counties. auto appraiser near 33012, auto appraiser near 33015, auto appraiser near 33157, auto appraiser near 33186
This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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Diminished Value San Antonio
This article details the diminished value appraisal of a BMW I3 Range Extender 4 Door Hatchback with 5,738 miles that was involved in a front-end collision that caused $11,843.98 in damage. The vehicle was not disabled/towed, had structural damage and no air bag deployment. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value.
ATTORNEY TO CLIENT CORRESPONDENCE FOR A TOTAL LOSS DISPUTE
You worked with St. Lucie Appraisal Company to resolve a total loss dispute with the insurer, utilizing the appraisal clause for negotiations. Appraisal clauses are often used in insurance policies to resolve disagreements between the insured and the insurer regarding the amount of a loss. The appraisal process can help settle such disputes without having to go to court.
AUTOMOBILE VALUES EXPLAINED
This article describes the differences in used car values. The following chart details how much a vehicle is worth in any given market. The most common misconception is that there is a difference between Fair Market Value and Trade-In Value. Selling a car in an arm’s length private party transaction will result in the same monetary return as a trade-in to a dealer. However, selling the car outright to the dealer will return less because the dealer has no incentive to offer the same amount that they would if you were buying a car.
Determining the Amount of DV
There are three types of diminished value claims: inherent, repair-related, and insurance-related. The general consensus among insurance companies, vehicle owners, car dealers and automobile appraisers considers inherent diminished value to be value lost due to stigma, repair-related diminished value to be value lost due to repairs not returning a vehicle to pre-accident condition, and insurance diminished value to be value lost due to the use of lesser parts. The most significant issues relate to the evidentiary standard required for proving a claim in inherent diminished value and to quantifying that loss in value. How does an appraiser go about determining the amount of auto diminished value?
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
In order for you to prove inherent diminished value it would be insufficient to express an opinion that the vehicle is worth less by employing a formula, algorithm or simply the uncorroborated opinion of an appraiser who considers himself an expert. Without reliable evidence, an individual appraiser’s experience is insufficient to prove inherent diminished value on a balance of probabilities. The burden remains with the car owner to quantify their claim of inherent diminished value with actual evidence.
DETERMINING THE AMOUNT OF DIMINISHED VALUE
The St. Lucie Appraisal Company generates diminished value appraisals crafted from the unbiased opinions of numerous authorities on the buying, selling and auctioning of cars – the sales managers at new car dealerships. In fact, we are the only independent appraisal company in the United States that can reference literally thousands of such opinions. Proving the existence and amount of automobile diminished value is critical both in claim negotiations and legal proceedings should matters escalate to that stage. Insurance adjusters and their supervisors are not impressed by formula-based appraisals and give them scant respect when negotiating settlements. If a car owner seeking compensation for diminished value doesn’t submit an appraisal that convinces insurers that they would lose in court, you are likely to lose a great deal in terms of not only time and money but also emotional duress. Nobody likes being treated unfairly.
A pro-active approach works best. Obtain a credible automobile diminished value appraisal from an appraiser who holds a state-issued license. An automobile adjuster and appraiser license from any state is a nationally accepted credential. Make certain that the appraiser is agreeable to discussing his appraisal with insurance representatives. Document everything by insisting that all correspondences with the insurer be in writing. Escalate the claim up the chain of command. Supervisors have the authority to increase settlement offers and will likely consult with their legal team about the chances of a successful defense. If their lawyers tell them that the evidence is compelling, your chance of obtaining equitable treatment increases considerably. If you are still faced with arbitrary and capricious responses, make an unfair claim practices complaint to your state insurance department. Finally, should all else fail, you may have to sue them.
It is our goal to eliminate as much hassle as possible from your automobile diminished value claim experience by preparing appraisals that are fair and which accurately reflect the reality of the used car market. It is undeniable that your car has lost value after being wrecked and repaired. Determining just how much is our job and we do it better than anyone else.
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Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.
After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.
Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi , Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming
This is an Open Education Resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.
AUTODIMINISHEDVALUE.COM, AUTOLOSSOFUSE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company.
Diminished Value Orlando
WE ARE THE BEST AND MOST TRUSTED AUTO DIMINISHED VALUE APPRAISERS IN THE COUNTRY. OUR COMPANY VALIDATES OUR DIMINISHED VALUE RESEARCH BY SPEAKING TO THE SALES MANAGERS AT SIX NEW CAR DEALERSHIPS IN THE ORLANDO AREA. THIS SUPPORTS OUR EXPERT OPINIONS, PROVIDING PROBATIVE EVIDENCE TO STRENGTHEN YOUR INSURANCE CLAIM OR COURT CASE.
Each week we report on the most interesting and informative articles concerning auto diminished value claims. A diminished value appraisal of a Toyota Corolla S Sedan with 32,927 miles that was involved in a Left Side Collision that caused $5,095.86 in damage. The vehicle was disabled/towed, had no structural damage and no air bag deployment. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.
SEARCH OUR DATABASE OF AUTO DIMINISHED VALUE REPORTS
For those of you who are interested in learning about automobile diminished value, the following articles explain to car owners what to expect when filing a third-party inherent diminished value claim. This is an Open Education Resource focused on auto diminished value, collective knowledge and the sharing of scholarly content. The fact that a car owner can make a claim to recover the vehicle’s loss in value after undergoing accident repairs isn’t something that is widely-known. Many of our clients say that diminished value only came to their attention through their body shop, a car dealership or word of mouth from someone who has filed a claim in the past. This database of auto diminished value appraisal results can illustrate how much value your own car may have lost due to its now having a repair history. These are a few examples.
Diminished Value Baltimore, MD
WE ARE THE BEST AND MOST TRUSTED AUTO DIMINISHED VALUE APPRAISERS IN THE COUNTRY. OUR COMPANY VALIDATES OUR DIMINISHED VALUE RESEARCH BY SPEAKING TO THE SALES MANAGERS AT SIX NEW CAR DEALERSHIPS IN MARYLAND. THIS SUPPORTS OUR EXPERT OPINIONS, PROVIDING PROBATIVE EVIDENCE TO STRENGTHEN YOUR INSURANCE CLAIM OR COURT CASE.
Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Chevrolet Malibu LT Sedan with 21,383 miles that was involved in a left rear collision that caused $2,913.35 in damage. The car was not disabled/towed and had no structural damage or air bag deployment.
Toyota Diminished Value and Loss of Use Claims
There is a little-known phenomenon in the automotive world and it is called Diminished Value. For those who haven’t heard this term, it means the loss in value a vehicle experiences after undergoing collision repairs. The Toyota, being a car that attracts more discriminating buyers, suffers a great deal more diminished value than an ordinary car. Used car buyers simply won’t pay as much for a previously wrecked car so dealers, in turn, have to offer less come trade-in time. Toyota owners are typically upscale folks who expect a first-class level of service. Those expectations extend to the treatment they receive from insurance companies after their cars are wrecked by the negligence of others. Seeking fair compensation for diminished value and loss of use is part of it. You need an expert appraiser. At The St. Lucie Appraisal Company, Toyota Diminished Value and Loss of Use claims are our specialty.
New York Automobile Diminished Value Case Law Review
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The term “Auto Diminished Value” means that cars which were damaged and subsequently repaired lose market value as a result of having a repair history, sometimes known as a “Bad CARFAX.” In most states, this lost amount is recoverable from insurance companies of at-fault parties. The amount of diminished value is determined by the damages that were repaired and the vehicle itself.
Precedents established in the State of New York regarding automobile diminished value cases are relied upon by magistrates to render their decisions. Cases such as Johnson v. Scholz affirm that case law has consistently held that “the measure of damages for injury to property resulting from negligence is the difference in the market value immediately before and immediately after the accident, or the reasonable cost of repairs necessary to restore it to its former condition, whichever is less.” This means a plaintiff can be made whole under one standard or the other and not both as sought by a claimant. Yet, even though it would seem that defendants had no obligation to compensate claimants for third-party inherent diminished value claims, insurance companies throughout The State of New York make settlements for these claims every day.
Diminished Value Knoxville
Each week we report on the most interesting and informative articles concerning auto diminished value claims. This article details the diminished value appraisal of a Tesla Model 3 Long Range Sedan with 20,045 miles that was involved in a Left Side collision that caused $15,619.68 in damage. The vehicle was disabled/towed, had structural damage and no air bag deployment. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
We learned from these examples from sales managers at exotic new car dealerships in Tennessee – One dealer said it would not be something they would take, could be 30-50% less in value depending on how it looks after repairs. They would not be a buyer but could be a third party facilitator. Another dealer explained it’s not a situation that is not gonna work in your favor that’s a piece they wouldn’t keep, look at losing about half the value because now the structural integrity has been compromised so they wouldn’t be able to certify the car.
The opinions of six unbiased professional sales managers at recognized exotic new car dealerships form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them to validate the diminished value report prepared by AUTODIMINISHEDVALUE.COM. This is what the car owner will experience in the real world.
The six dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, pre-accident condition, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.
We contacted several exotic new car dealers in Tennessee to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV). Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.
Description of damage: Disabling collision damages to the Left Side with damage to structural components and no air bag deployment. Repair cost $15,619.58. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.
The average of six (6) deductions was 39.17%. This is the percentage of Diminished Value to be taken from the FMV at the time of loss.
We established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $47,500.00 at the time of loss. The Diminished Value was $18,605.75
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.
Service in Memphis, Nashville, Knoxville, Chattanooga, Clarksville, Murfreesboro, Franklin, Jackson, Johnson City, Bartlett, Hendersonville, Kingsport, Collierville and throughout Tennessee
Anderson, Bedford, Benton, Bledsoe, Blount, Bradley, Campbell, Cannon, Carroll, Carter, Cheatham, Chester, Claiborne, Clay, Cocke, Coffee, Crockett, Cumberland, Davidson, Decatur, DeKalb, Dickson, Dyer, Fayette, Fentress, Franklin, Gibson, Giles, Grainger, Greene, Grundy, Hamblen, Hamilton, Hancock, Hardeman, Hardin, Hawkins, Haywood, Henderson, Henry, Hickman, Houston, Humphreys, Jackson, Jefferson, Johnson, Knox, Lake, Lauderdale, Lawrence, Lewis, Lincoln, Loudon, McMinn, McNairy, Macon, Madison, Marion, Marshall, Maury, Meigs, Monroe, Montgomery, Moore, Morgan, Obion, Overton, Perry, Pickett, Polk, Putnam, Rhea, Roane, Robertson, Rutherford, Scott, Sequatchie, Sevier, Shelby, Smith, Stewart, Sullivan, Sumner, Tipton, Trousdale, Unicoi, Union, Van Buren, Warren, Washington, Wayne, Weakley, White, Williamson and Wilson Counties. auto appraiser near 37919, auto appraiser near 37922, auto appraiser near 37931
This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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DIMINISHED VALUE SPELLED OUT
I’m sorry to report it, folks, but insurance companies don’t always play fair. Many insurers or their representatives make every effort to deceive third-party claimants as well as their own policy holders. In automobile diminished value claims, the egregious behavior is rampant, primarily because most of us have no familiarity with our right to be compensated for our car’s loss in value after accident repairs. This diminished value is a result of what’s commonly referred to as a Bad CARFAX but the impact on your car’s value is real so it is your responsibility to prove how much less your car is now worth. And you’ll have to spell it out so your evidence needs to be irrefutable.
Tesla X 75D Diminished Value Claim in Pasadena, California
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The term “Auto Diminished Value” means that cars which were damaged and subsequently repaired lose market value as a result of having a repair history, sometimes known as a “Bad CARFAX.” In most states, this lost amount is recoverable from insurance companies of at-fault parties. The amount of diminished value is determined by the damages that were repaired and the vehicle itself.
WHY DO INSURANCE COMPANIES GET AWAY WITH CLAIM DENIALS BASED ON THEIR CONTENTION THAT A PROPERLY-REPAIRED CAR DOES NOT SUFFER ANY LOSS IN VALUE?
It is an obvious falsehood yet no insurance department has stepped up to the plate to sanction these actions.
This is a common insurance industry stance. The idea that a properly repaired car does not suffer any loss in value—often referred to as diminished value—is widely disputed by consumers, auto dealers, and even some legal experts. Here’s why insurers get away with denying these claims: