Buffalo, NY Diminished Value Appraiser | St. Lucie Appraisal

Tesla Model S90D Diminished Value Claim in Buffalo, New York

NOTE: 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.

The St. Lucie Appraisal Company provides independent diminished value appraisals for vehicle owners in Buffalo, Erie County, and throughout New York State. Our licensed appraisers serve all ZIP Codes listed below and assist vehicle owners pursuing diminished value claims after collision repairs.

Tesla Model S90D Diminished Value Case Study

This diminished value appraisal involved a Tesla Model S90D AWD Sedan with only 2,847 miles. The vehicle was involved in a front-end collision in November 2017 resulting in repair costs totaling $10,858.27.

The vehicle was disabled and towed from the accident scene. Although the vehicle sustained significant repairable damage, no structural damage occurred and no airbag deployment was reported.

Following repairs, the owner pursued a third-party inherent diminished value claim to recover compensation for the loss in market value resulting from the accident history.

Why Repaired Vehicles Lose Value

Once a vehicle has been involved in a collision and repaired, it typically suffers a measurable reduction in market value. Even when repairs are performed to the highest standards, prospective buyers often discount vehicles with accident histories.

Vehicle history reports such as CARFAX and AutoCheck permanently disclose prior collision repairs. Buyers of luxury and electric vehicles are particularly sensitive to accident history and frequently expect substantial discounts when purchasing a previously damaged vehicle.

Dealer Research Conducted in Upstate New York

The St. Lucie Appraisal Company contacted multiple luxury and specialty vehicle dealers throughout Upstate New York to determine how the documented repair history would affect the vehicle’s fair market value.

Each dealer was provided detailed information including:

• Year, make and model
• Vehicle mileage
• Vehicle options and equipment
• Date of loss
• Nature and extent of repairs
• Vehicle condition before and after repairs
• Confirmation that repairs were properly completed

Dealers based their opinions on real-world sales experience, current market conditions, trade-in activity and auction data.

What Dealers Told Us

Sales managers at luxury vehicle dealerships consistently advised that buyers spending substantial sums on premium vehicles prefer clean vehicle history reports and generally avoid vehicles with significant accident histories unless offered at a discount.

One dealer explained that luxury vehicles frequently suffer greater diminished value losses than economy vehicles because buyers in this market segment are especially concerned about prior damage.

Another dealer noted that a Tesla would typically experience a larger diminished value loss than an entry-level vehicle because of its higher value and more demanding buyer profile.

Diminished Value Calculation

The average reduction reported by six independent dealers was 15.56%.

At the time of loss, the Tesla Model S90D had an estimated Fair Market Value (Average Trade-In Value) of approximately:

$75,000.00

Applying the dealer-supported diminished value percentage resulted in a diminished value loss of:

$11,670.00

This figure represents the reduction in value attributable solely to the vehicle’s accident history after repairs were completed.

Our Methodology

Unlike formula-driven diminished value reports, our appraisals rely on six independent dealer opinions to validate market research and establish how real buyers and dealers respond to repaired vehicles.

The opinions of unbiased automotive professionals form the basis for one of the most comprehensive diminished value appraisal methodologies available.

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Service Areas Throughout New York

The St. Lucie Appraisal Company provides diminished value appraisal services in Buffalo, Amherst, Babylon, Brookhaven, Brooklyn, Bronx, Cheektowaga, Clarkstown, Colonie, Greece, Greenburgh, Hamburg, Hempstead, Huntington, Irondequoit, Islip, Manhattan, North Hempstead, New York City, Orangetown, Oyster Bay, Poughkeepsie, Queens, Ramapo, Rye, Smithtown, Staten Island, Tonawanda, Union, Webster, West Seneca, White Plains and communities throughout New York State.

We also serve vehicle owners throughout Albany, Allegany, Bronx, Broome, Cattaraugus, Cayuga, Chautauqua, Chemung, Chenango, Clinton, Columbia, Cortland, Delaware, Dutchess, Erie, Essex, Franklin, Fulton, Genesee, Greene, Hamilton, Herkimer, Jefferson, Kings, Lewis, Livingston, Madison, Monroe, Montgomery, Nassau, New York, Niagara, Oneida, Onondaga, Ontario, Orange, Orleans, Oswego, Otsego, Putnam, Queens, Rensselaer, Richmond, Rockland, St. Lawrence, Saratoga, Schenectady, Schoharie, Schuyler, Seneca, Steuben, Suffolk, Sullivan, Tioga, Tompkins, Ulster, Warren, Washington, Wayne, Westchester, Wyoming and Yates Counties.