Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Automotive
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-17-2014, 03:53 PM
 
2,776 posts, read 3,952,862 times
Reputation: 3049

Advertisements

Quote:
Originally Posted by Avantiguy View Post
I had a 2 year old Buick Lacrosse CXL that had the front bumper damaged when a lady backed into me at about 1/2 mph. It was nothing more than scuffed paint but it wasn't there before and I wanted it fixed. Plus, her extremely poor attitude towards the whole issue turned the vindictive side of me and I wanted to run her insurance premium up. The total cost to fix the car was around $400.

...However, because of the report, the dealership was offering me trade in about $2,000.00 less than what it should have been and was told "no one wants a car with a Carfax incident." I was finally able to get it up some, but still felt that I didn't get what I should have because of the incident.
An expensive lesson for you. This is why I advocate that those who have minor fender benders and no injuries really think before calling the insurance companies. With every claim there will be a future increase in premiums to compensate (allowing the insurance company to make back their money). I feel like the real benefit of insurance is experienced in a total loss or bodily injury situations, not for minor stuff.
Reply With Quote Quick reply to this message

 
Old 11-17-2014, 07:29 PM
 
74 posts, read 612,958 times
Reputation: 58
You are so right and I do look at it differently now. It was just a case of I'll show you (meaning the person at fault) because of her nasty attitude. Learned a lesson and now know how this works...
Reply With Quote Quick reply to this message
 
Old 11-18-2014, 11:29 AM
 
Location: WA
5,640 posts, read 24,853,177 times
Reputation: 6573
Typically your own insurance company will not help with a diminished value claim against the other party. In my case it was extremely difficult as the driver that hit my car was in a rental from another state, the accident happened in another state from my own, and rental car insurance carrier was in a fourth state.

The insurance commission in my state was unable to help me but did write a letter on my behalf. Lawyers required a retainer and small claims court had fees and a cap on settlement amount. No good options.

I spent a year getting appraisals at my expense and writing letters threatening legal action against all parties. Finally the rental car insurance company agreed to an amount about 75% of what I was demanding.
Reply With Quote Quick reply to this message
 
Old 11-18-2014, 04:56 PM
 
490 posts, read 832,065 times
Reputation: 244
Quote:
Originally Posted by jaydez View Post
It is normal. However, if you are going to seek restitution of medical bills... and you should, get a lawyer first. The first thing they will tell you is not to talk to the other insurance company. Also, be aware that your health insurance will want to be reimbursed out of what is obtained from a lawsuit, plus your lawyer will probably take 1/3. If you want o go it alone demand the insurance company pay you for your out of pocket expenses plus the lost value on your vehicle. If not they will be looking at a 5-figure lawsuit for reimbursement/expenses.
I called a law firm and told them my situation and they seemed to think that it might not be the case for them, since I have no real injuries identified aside from a contusion after the accident.. it sounds like the amount they could make is too little to be worth their while, so I may have to go it alone..


Not sure if I should call the at-fault party's insurance back.. i already gave my statement to the CHP and it's in the police report. The only thing I want to contact them about is my diminished value and ambulance/ER bill.
Reply With Quote Quick reply to this message
 
Old 11-23-2014, 06:21 PM
 
22 posts, read 88,058 times
Reputation: 52
Years ago I bought a new '03 Pontiac Grand Prix. About 6k miles into ownership someone changed lanes into me on the interstate and caused about $2k damage to the front passenger fender. The damage was reported to Carfax and I really struggled trying to trade it for fair market value a few years later. Most dealers offered around $6k when it was worth over $10k. They were not shy to say they knew it had been in an accident.

I finally dealt with a salesperson who routinely sells vehicles to the company I work for. He didn't even bother running the Carfax and gave me $11k for it. I got very lucky and jumped on that deal. That car sat on his lot for months thereafter.

People really do take Carfax reports very seriously anymore. At that time I didn't even think about seeking damages for diminished value... but I certainly would if it happened again.
Reply With Quote Quick reply to this message
 
Old 11-24-2014, 12:35 AM
 
48,505 posts, read 96,489,188 times
Reputation: 18301
The problem is even Carfax only knows wrecks that are reported; meaning there is a state record on. Many states do not record minor wrecks with no injury since state law does not require police to investigate them in many and report.mnay states require drivers to report on state form but mnay do not. Just settle between selfs and never do paperwork required. A lot can be missed. But cars sold for salvage and salvage titles are all recorded. by law. You can do same for your state by going to DMV paying a small fee with VIN number. That is basically what carfax does.
Reply With Quote Quick reply to this message
 
Old 11-24-2014, 09:14 AM
 
Location: Raleigh, NC
2,743 posts, read 4,794,480 times
Reputation: 3949
Carfax probably has correct information, but it quite possibly is NOT complete.
See my post: Carfax on my own car is incomplete.

Search through other threads in this forum about "diminished value".
Several posters have said that it varies from state to state, weather or not the law requires your or their insurance to include reimbursement based on diminished value.

Also, search the web for law firms in your own state that specialize in accidents. (There will be MANY of them!). They often have Pick Me pages that also provide details on the laws of your state.
Reply With Quote Quick reply to this message
 
Old 11-24-2014, 10:19 AM
 
Location: Southeast, where else?
3,913 posts, read 5,200,749 times
Reputation: 5823
Quote:
Originally Posted by ecsdude View Post
Hi All,

I have a 2013 Subaru Outback that is 16 mos old. It was in a moderate accident about 2.5 weeks ago on the freeway going 60mph, when 3 other cars in lanes to my left hit each other, and the one in lane to my immediate left that was ahead about 2 car lengths, the spun side ways into my lane and came to a stop, leaving me with little time to look right and see if I could safely swerve to avoid it.. so I just had enough time to at least brake, but since the other car was sideways at a standstill, I didn't have much time to stop fully and avoid impact. My airbags did not deploy either.

Anyway, I got the police report and it said one of the other cars was at fault. The car is now fixed using all OEM parts since that's my insurance company's policy for cars under 2 years old. There was 2-10mm bend in part of the frame, which they said was minor and straightened out. It looks pretty good overall, but I have the following concern:

Last July, my car became eligible for GTP, which is Subaru's guaranteed trade-in program, where they guarantee your car will trade in at a Subaru dealership for X amount of dollars provided it's not been in an accident, is in very good condition, and is within the mileage limits they set for the program, based on the year of your car.

Since it has now been in this moderate accident, it doesn't qualify for GTP anymore. So the accident has impacted my trade-in options/value for the car in that way. Also, before the accident, I was looking at possibly selling my car to CarMax, trading it in, or selling it to a 3rd party.

Do you know if CarMax will buy a car that's been in a moderate accident (front left side panels, hood, radiator, pulleys, and some other things needed to be replaced) for anything other than a very low price for purposes of selling wholesale?

I have heard that car dealerships and private parties will likely want to deduct at least a few thousand if the car's been in a moderate accident, even if it has been repaired.

Can anyone share their experience with CarMax, car dealerships, and private party sale on a relatively new car that's been in a fairly good accident but is fixed? They did a pretty good job on it and it is hard to tell on the outside (at least I can't) that any work was done since they replaced damaged panels/parts with OEM.

I'm also trying to see if the at-fault driver's insurance company may possibly compensate me for diminished value, but I have to provide some very solid proof/documentation showing how my car's value has diminished in the marketplace vs a comparable like vehicle that hasn't been in a moderate accident and repaired.

First off, never, ever fall for "Guaranteed Trade-in Program". There is no such thing. That's a ruse to get people to come back and buy a new car. Period. Your car is always eligible for anyone's "Guaranteed Trade-in Program". All dealers want a crack at sticking you, equally. Fret not.

Second, you do have diminished value. Typically from what you describe, 2-5K in diminished value. Anyone at a DEALER is going to run that VIN and they WILL see the repair. Whether or not it is "just like new" matters not, they are going to use that as leverage to BEAT YOU DOWN on the trade and they will win. It HAS been damaged and frankly, it is no longer worth what YOU think it is no matter who fixed it. Fact of life.

Best bet? Drive the car to a point where it won't matter anymore. That's typically 7-10 years. Long I know but, at that point, the miles and shape count more than anything and almost all cars at that age, (60-70 percent) have had at least a crumpled bumper. No longer matters.

Just do yourself a favor, whenever you get one of those "guaranteed trade-in" deals in the mail, toss it. It's just drumming up leads for sales. Nothing more. Spend your energies going after diminished value. ANY reputable insurance company will acknowledge it but, they sure aren't going to advertise it. The car is new enough to be worth the hassle because believe me, if you do trade it in before 7 years of age, you will lose that money at trade if not more.

If it will make you feel any better, I bought a 2004 Dodge 1500 Ram Quad Cab.....at 985 miles, a lady rear-ended me. Her insurance company settled for $4,400 in diminished value which it will feel one day. Still have the truck but, I never got over it. Less than 1,000 miles....I could have strangled her.....rear ended in bumper-to-bumper traffic....


Good luck
Reply With Quote Quick reply to this message
 
Old 11-24-2014, 10:58 AM
 
Location: NWA/SWMO
3,106 posts, read 3,953,182 times
Reputation: 3279
My 2012 370Z had $12K damage done to it. I got $3K over blue-book trade value when I traded in on a vehicle that I purchased for KBB "average retail" price.

Just one datapoint.
Reply With Quote Quick reply to this message
 
Old 11-24-2014, 11:55 AM
 
Location: Mo City, TX
1,728 posts, read 3,422,484 times
Reputation: 2070
Quote:
Originally Posted by ecsdude View Post
Hi All,

I have a 2013 Subaru Outback that is 16 mos old. It was in a moderate accident about 2.5 weeks ago on the freeway going 60mph, when 3 other cars in lanes to my left hit each other, and the one in lane to my immediate left that was ahead about 2 car lengths, the spun side ways into my lane and came to a stop, leaving me with little time to look right and see if I could safely swerve to avoid it.. so I just had enough time to at least brake, but since the other car was sideways at a standstill, I didn't have much time to stop fully and avoid impact. My airbags did not deploy either.

Anyway, I got the police report and it said one of the other cars was at fault. The car is now fixed using all OEM parts since that's my insurance company's policy for cars under 2 years old. There was 2-10mm bend in part of the frame, which they said was minor and straightened out. It looks pretty good overall, but I have the following concern:

Last July, my car became eligible for GTP, which is Subaru's guaranteed trade-in program, where they guarantee your car will trade in at a Subaru dealership for X amount of dollars provided it's not been in an accident, is in very good condition, and is within the mileage limits they set for the program, based on the year of your car.

Since it has now been in this moderate accident, it doesn't qualify for GTP anymore. So the accident has impacted my trade-in options/value for the car in that way. Also, before the accident, I was looking at possibly selling my car to CarMax, trading it in, or selling it to a 3rd party.

Do you know if CarMax will buy a car that's been in a moderate accident (front left side panels, hood, radiator, pulleys, and some other things needed to be replaced) for anything other than a very low price for purposes of selling wholesale?

I have heard that car dealerships and private parties will likely want to deduct at least a few thousand if the car's been in a moderate accident, even if it has been repaired.

Can anyone share their experience with CarMax, car dealerships, and private party sale on a relatively new car that's been in a fairly good accident but is fixed? They did a pretty good job on it and it is hard to tell on the outside (at least I can't) that any work was done since they replaced damaged panels/parts with OEM.

I'm also trying to see if the at-fault driver's insurance company may possibly compensate me for diminished value, but I have to provide some very solid proof/documentation showing how my car's value has diminished in the marketplace vs a comparable like vehicle that hasn't been in a moderate accident and repaired.
I don't know what state you live in but where I live in Texas I filed a "diminished value" claim with the insurance company to compensate me for this loss of vlaue now that an accident is on your vehicle history.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Automotive

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top