San Antonio Auto Diminished Value Appraiser: BMW i3 Case Study
The St. Lucie Appraisal Company provides independent diminished value appraisals for vehicle owners in San Antonio and throughout Texas. Our licensed appraisers serve all ZIP Codes listed below. Each week we report on actual cases to help claimants understand how much market value their vehicles lose after an accident.
This case study details a 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 or towed, but it sustained structural frame damage with 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 their 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 from a Texas licensed auto adjuster is key.
WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
Texas BMW Dealer Market Intelligence
After querying BMW dealerships in Texas, we learned how real-world sales managers view structural damage on premium vehicles. One dealer noted that the BMW i3 is a highly specialized vehicle, and buyers are incredibly sensitive to history reports showing structural repairs. He stated that they would not resell a car with frame damage on its Carfax on their main lot, estimating a minimum 35% loss in retail value. Another sales manager explained that while they would accept it as a trade-in, they would immediately send it to a wholesale auction because disclosing structural frame damage to retail buyers makes it nearly impossible to sell on a dealership lot. Consequently, a seller looks at losing 30% to 40% of the vehicle’s fair market value, if not more.
The opinions of six unbiased professional sales managers at recognized new car dealerships form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six independent quotes to validate the diminished value report prepared by The St. Lucie Appraisal Company. This is exactly what the car owner will experience in the real world when trying to sell or trade the vehicle.
LICENSED ADJUSTER IN THE STATE OF TEXAS
Real-World Valuation & Appraisal Methodology
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 direct access to actual wholesale auction results. Dealers were advised that this vehicle was properly and fully repaired according to industry standards.
We contacted several premium brand dealers in Texas to establish how these repairs and the resultant vehicle history report would impact this specific vehicle’s Fair Market Value (FMV). Dealers were provided with a comprehensive evaluation of the vehicle’s condition both prior and subsequent to the collision repairs.
A Diminished Value Claim in San Antonio, TX
Description of damage: Non-disabling collision damages to the front including verified damage to structural components and no air bag deployment. Total repair cost was $11,843.98. LKQ (used) and/or aftermarket parts were not utilized in the repair and were not factored into the final diminished value calculation.
The average of the six (6) dealer deductions came out to 39.17%. This is the precise percentage of Diminished Value to be deducted from the Fair Market Value at the time of loss.
Final Settlement Breakdown: We established that the above-captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $47,500.00 prior to the accident. Diminished Value = $18,605.75
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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.
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San Antonio Service Areas & ZIP Codes We Serve
78223, 78228, 78240, 78245, 78249, 78250, 78251, 78254
Comprehensive Texas Regional Coverage
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. Independent auto appraiser near 78223, auto appraiser near 78228, auto appraiser near 78240, auto appraiser near 78245, auto appraiser near 78249, auto appraiser near 78250, auto appraiser near 78251, auto appraiser near 78254.
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Anderson, Andrews, Angelina, Aransas, Archer, Armstrong, Atascosa, Austin, Bailey, Bandera, Bastrop, Baylor, Bee, Bell, Bexar, Blanco, Borden, Bosque, Bowie, Brazoria, Brazos, Brewster, Briscoe, Brooks, Brown, Burleson, Burnet, Caldwell, Calhoun, Callahan, Cameron, Camp, Carson, Cass, Castro, Chambers, Cherokee, Childress, Clay, Cochran, Coke, Coleman, Collin, Collingsworth, Colorado, Comal, Comanche, Concho, Cooke, Coryell, Cottle, Crane, Crockett, Crosby, Culberson, Dallam, Dallas, Dawson, Deaf Smith, Delta, Denton, DeWitt, Dickens, Dimmit, Donley, Duval, Eastland, Ector, Edwards, Ellis, El Paso, Erath, Falls, Fannin, Fayette, Fisher, Floyd, Foard, Fort Bend, Franklin, Freestone, Frio, Gaines, Galveston, Garza, Gillespie, Glasscock, Goliad, Gonzales, Gray, Grayson, Gregg, Grimes, Guadalupe, Hale, Hall, Hamilton, Hansford, Hardeman, Hardin, Harris, Harrison, Hartley, Haskell, Hays, Hemphill, Henderson, Hidalgo, Hill, Hockley, Hood, Hopkins, Houston, Howard, Hudspeth, Hunt, Hutchinson, Irion, Jack, Jackson, Jasper, Jeff Davis, Jefferson, Jim Hogg, Jim Wells, Johnson, Jones, Karnes, Kaufman, Kendall, Kenedy, Kent, Kerr, Kimble, King, Kinney, Kleberg, Knox, Lamar, Lamb, Lampasas, La Salle, Lavaca, Lee, Leon, Liberty, Limestone, Lipscomb, Live Oak, Llano, Loving, Lubbock, Lynn, McCulloch, McLennan, McMullen, Madison, Marion, Martin, Mason, Matagorda, Maverick, Medina, Menard, Midland, Milam, Mills, Mitchell, Montague, Montgomery, Moore, Morris, Motley, Nacogdoches, Navarro, Newton, Nolan, Nueces, Ochiltree, Oldham, Orange, Palo Pinto, Panola, Parker, Parmer, Pecos, Polk, Potter, Presidio, Rains, Randall, Reagan, Real, Red River, Reeves, Refugio, Roberts, Robertson, Rockwall, Runnels, Rusk, Sabine, San Augustine, San Jacinto, San Patricio, San Saba, Schleicher, Scurry, Shackelford, Shelby, Sherman, Smith, Somervell, Starr, Stephens, Sterling, Stonewall, Sutton, Swisher, Tarrant, Taylor, Terrell, Terry, Throckmorton, Titus, Tom Green, Travis, Trinity, Tyler, Upshur, Upton, Uvalde, Val Verde, Van Zandt, Victoria, Walker, Waller, Ward, Washington, Webb, Wharton, Wheeler, Wichita, Wilbarger, Willacy, Williamson, Wilson, Winkler, Wise, Wood, Yoakum, Young, Zapata and Zavala Counties.
