Tag: BMW

Diminished Value Charleston, SC

June 14, 2024June 2, 2024 by stlucieappraisal

St. Lucie Automobile and Diminished Value Appraiser

Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a BMW 328i Turbo Sedan with 22,606 miles that was involved in a Left Side collision that caused $7,343.25 in damage. The car was disabled/towed and had structural damage without 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.
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

We learned from these examples from sales managers – Normally, structural damages even properly repaired will result in a 40% loss in value. Also that the dealer can’t sell a car whose frame was compromised and also that it will be hard to find a bank that would finance the vehicle. 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 BMW dealers in South Carolina 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 Left Side including structural components. Repair cost $7,343.25. 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 30.83%. 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 $27,500.00 at the time of loss. Diminished Value = $8,478.25.

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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 in Indianapolis, Fort Wayne, Evansville, South Bend, Carmel, Fishers, Bloomington, Hammond, Gary, Lafayette, Muncie, Terre Haute, Kokomo, Noblesville, Anderson, Greenwood, Elkhart and throughout Indiana. auto appraiser near 29072, auto appraiser near 29412, auto appraiser near 29483, auto appraiser near 29485, auto appraiser near 29681

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 Greenville, South Carolina

June 14, 2024June 2, 2024 by stlucieappraisal

Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a BMW 328- Turbo Sedan with 22,606 miles that was involved in a left-side collision that caused $7,343.25 in damage. The vehicle was disabled/towed and had structural damage. 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.
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

We learned from these examples from sales managers at BMW dealers in South Carolina. Normally frame damage, even with proper repairs, will result in a 30%-50% loss in value. Also that frame damage is a red flag on a Carfax and dealers will have to sell for a lot less and that is why they can’t give you the book value – the cars integrity has been compromised. And that it will be hard to find a bank that will finance a vehicle like this and the diminished value may be 25% at minimum; maybe more.

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.

Description of damage: Disabling collision damages to the Left Side with damage to structural components and no air bag deployment. Repair cost $7,343.25. 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 30.83%. 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 $27,500.00 at the time of loss which was 11-15-17. The Diminished Value was $8,478.25.

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 Columbia, Charleston, North Charleston, Greenville, Rock Hill, Mount Pleasant, Spartanburg, Sumter, Hilton Head, Florence and throughout South Carolina.Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Berkeley, Calhoun, Charleston, Cherokee, Chester, Chesterfield, Clarendon, Colleton, Darlington, Dillon, Dorchester, Edgefield, Fairfield, Florence, Georgetown, Greenville, Greenwood, Hampton, Horry, Jasper, Kershaw, Lancaster, Laurens, Lee, Lexington, Marion, Marlboro, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Sumter, Union, Williamsburg, York Counties. auto appraiser near 29605, auto appraiser near 29607, auto appraiser near 29615, auto appraiser near 29650, auto appraiser near 29651, auto appraiser near 29681, auto appraiser near 29687

BMW Diminished Value and Loss of Use Claims

November 12, 2023November 1, 2023 by stlucieappraisal

There is a new 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. BMW models that attract more discriminating buyers, suffer 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. New and late model car owners 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, BMW Diminished Value and Loss of Use claims are our specialty.

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

Our methodology for preparing automobile diminished value appraisals is unique within the industry because we don’t rely on formulas, algorithms, auto auction results or other short cuts to determine the amount of value lost after collision repairs. Each situation is unique and the only way to provide tailor-made reports is to query the people who actually do the buying and selling of these bad Carfax vehicles – new car dealers. It is important, of course, that the dealers who participate in our surveys know full well that the subject vehicles are not for sale or available for trade. This prevents insurance companies from alleging collusion or vested interest. This approach has made our company the best at what we do – Diminished Value and Loss of Use appraisals. Magistrates and mediators alike have recognized the validity of our reports because they are comprehensive and they aren’t complicated.

Insurance Company defense attorneys can instantly recognize which independent appraisals will stand up in court and advise their adjusters accordingly when it comes to offering fair settlements. We are rarely called upon to appear as expert witnesses in legal proceedings because our customers generally receive fair settlements that preclude taking civil actions. BMW diminished value and loss of use claims should present no problems if appraisals are prepared correctly.

So where does this leave the BMW owner when it comes to receiving fair compensation for Diminished Value and Loss of Use? The independent appraisers that use formulas and algorithms arrive at numbers that don’t remotely represent the BMW used car market. As for the independent appraisers that use automobile auction results, they are completely out of luck since so few late-model high-end BMWs are put up for auction.

The St. Lucie Appraisal Company has gained more than our share of diminished value and loss of use requests from BMW owners due chiefly to word of mouth. It has been not only BMW owners but also the certified BMW repair shop managers who have sent their customers, friends and families to us.

Finally, with regard to Loss of Use claims, it costs up to $250 per day to rent a Dream Car such as the BMW i8 from one of the Hertz locations in California. Anywhere else in the US, a late model high-end BMW or comparable car can cost $125.00 per day on a long-term basis. Why do insurance companies feel that they can get away with offering lower-priced replacement vehicles to BMW owners? It is common knowledge that a wrecked high-end BMW can take up to 60 days to repair. A typical Loss of Use report for a BMW owner whose car is laid up for two months is in excess of $7,500.00. Of special note: It is not necessary to actually rent a car in order to receive compensation for Loss of Use.

All BMWs will lose value after collision repairs. Diminished Value can result in as much as 50% of the vehicle’s value lost, especially if frame damage or air bag deployment was involved. While “the older the car, the less it will suffer diminished value” is true, that statement can be misleading. While a 2008 BMW with a bad Carfax will lose less in value, percentage-wise, than a newer model, older cars can still be worth thousands of dollars less after accident repairs.

READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY

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 and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company.
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Vehicle Valuation Report for Title, Registration – Auto, Truck, RV, Motorcycle and Heavy Equipment

May 14, 2023February 1, 2023 by stlucieappraisal

The St. Lucie Appraisal Company prepares valuation and diminished value appraisals for all types of cars, trucks, RVs, motorcycles and heavy equipment in all 50 states. In each county of every state, motor vehicles being titled and registered for tags and license plates are assessed a tax based on the vehicle’s fair market value. If your car was ever involved in a collision, especially one involving severe damage that included structural (frame) damage or air bag deployment, you are paying up to double the amount you pay for motor vehicle title and registration taxes. For example, if you own a late-model Audi, Bentley, BMW, Cadillac, Ferrari, INFINITI, Jaguar, Lamborghini, Land Rover, Lexus, Lincoln, Lotus, Maserati, Mercedes-Benz, Porsche, Rolls-Royce or Tesla which the state values at $50,000, your motor vehicle tax is approximately $3,500.00. However, the same car showing a bad Carfax, Autocheck or other repair history report may have an actual value of up to 50% less. The resultant tax saving would be $1,750.00. If your motor vehicle is worth more, your savings increase exponentially. RVs such as Prevost, Newmar or Featherlite and heavy trucks such as Mack, Kenworth, Peterbilt or Volvo that have been repaired after collisions aren’t worth nearly as much as those that were never wrecked. The motor vehicle tax saving on a half-million-dollar vehicle could be in the tens of thousands of dollars.

Our valuation reports are also sought after for total loss disputes, financing, insurance underwriting, estate dissolution, divorce, bankruptcy and charitable donations.

READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY

Call The St. Lucie Appraisal Company at 772-359-4300 to inquire about obtaining a vehicle valuation appraisal when you obtain a title for a high-end vehicle or next time you renew your registration.

The cost to obtain a vehicle valuation appraisal is $275.00. Use the payment button above and email vehicle information to contact@stlucieappraisal.net. You will receive a signed vehicle valuation appraisal from a licensed motor vehicle appraiser via email in one week.

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