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Old 11-14-2014, 06:19 PM
 
433 posts, read 530,492 times
Reputation: 220

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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.
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Old 11-14-2014, 08:37 PM
 
7,096 posts, read 3,706,529 times
Reputation: 10074
You will probably not be able to claim diminished value with your own insurer because most insurers exclude it from their policy. But you have no contract with the third party insurer and can claim it. To substantiate it you will probably have to get an appraisal from someone who specializes in diminished value appraisals. If your car otherwise meets the condition and mileage requirements, you might also go to a Subaru dealer and get a trade-in offer as is, and present that along with the trade-in allowance you would have received under the GTP.
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Old 11-14-2014, 10:53 PM
 
433 posts, read 530,492 times
Reputation: 220
That is a very good idea. Thank you!
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Old 11-16-2014, 09:17 AM
 
2,600 posts, read 5,453,260 times
Reputation: 2387
FAQ | ADE : Auto Damage Experts
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Old 11-16-2014, 10:13 AM
 
Location: WA
5,293 posts, read 20,709,725 times
Reputation: 5622
With the current use of car repair data bases you can be assured the value of your car can be impacted. I had to argue the traded in value of a 13 year old car because a repair five years earlier was listed.

When our new car was rear ended I fought with the insurance company of the other party for a year to get a settlement. It was only 70% of what I wanted (and recommended by two professional appraisals) but it was some payment for the diminished value of my car.
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Old 11-16-2014, 10:47 AM
 
74 posts, read 453,416 times
Reputation: 53
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.

Fast forward one year to trade-in time and I was asked by the salesman "When did you wreck your car"? I replied that I hadn't and was told the Carfax showed an accident. My response was, "oh that -well, it was so slight, I didn't consider it an accident." 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. (Never mind the car burned 2 quarts of oil every 1,000 miles or so and the transmission didn't shift right at times, everyone was so worked up over this little bump-up).

I would certainly try to get diminished value from the insurance company. If like me, it will come back on you...

Mr. Bill
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Old 11-17-2014, 06:55 AM
 
Location: Morrisville, NC
7,699 posts, read 10,074,906 times
Reputation: 6909
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.

Fast forward one year to trade-in time and I was asked by the salesman "When did you wreck your car"? I replied that I hadn't and was told the Carfax showed an accident. My response was, "oh that -well, it was so slight, I didn't consider it an accident." 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. (Never mind the car burned 2 quarts of oil every 1,000 miles or so and the transmission didn't shift right at times, everyone was so worked up over this little bump-up).

I would certainly try to get diminished value from the insurance company. If like me, it will come back on you...

Mr. Bill
I bet the $400 you got to spite that woman seemed a bit less worth it then didn't it.

Worst thing is I bet the Carfax report has something ridiculous like a range or says accident under $3000 or something, so there is no way to know if it were a $2895 repair, which might be some serious damage and a paint touch up like you had. It kind of sucks that Carfax is becoming like the credit bureaus with so much power as they seem equally likely to mess up. You often hear about cars that people know were in accidents, yet Carfax does not show them.

all the more reason to always ask for diminished value any time you are in a wreck with someone else and are dealing with their insurance.
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Old 11-17-2014, 10:20 AM
 
433 posts, read 530,492 times
Reputation: 220
my insurance company (AAA) adjuster said they only offer legal representation if i'm getting sued, plus my auto policy doesn't include coverage for ambulance/ER, so if I need to recover diminished value and the cost of the ambulance ride/ER visit, I need to hire a lawyer. I spoke with one and they said that since I don't really have any broken bones or what not (that kind of injury), it might not be worth it for them to pursue. My health insurance does cover ambulance/ER but I have a $1350 deductible and copay of 10%.. but I also have a maximum out of pocket cost that includes my deductible so I should be limited in what I would be billed for.. yet it's still at least $1600-2100 I think.. the ambulance/ER bill was said to come out to some $16k, all for a neck brace, carry on a board onto ambulance, ride to hospital, and a 1.5 hour stay after a doctor came and poked me around and asked me questions and determined I likely had a contusion and was ok to discharge. My health insurance provider said they have a billing company that can help recover costs, but I don't know yet if they'll be able to recover my out of pocket cost.

As far as the diminished value, it looks like I would have to see if the at-fault party's insurance provider will work with me to compensate for the loss.. I estimate the value lost is at least $2-2.5k based on CarMax quote I got over the weekend, and my Subaru Guaranteed Trade-In Program quote I got this past summer. The damages cost $9200 to fix.
The car is a 2013 with 21.5k miles on it and was in very good condition. I hear the particular insurance company the at-fault party is with can be hard to work with and they will delay, deny, and what not. I may have to end up pursuing this in small claims court to get any traction.. but i'm hoping it doesn't come to that.. just doesn't sound too good based on what I've read about this insurance company.

I got a call from them wanting to talk to me, and I was at work so I couldn't talk but took down their information. My own adjuster told me I should probably talk to them... she said they wanted a statement, yet I already provided one to the CHP in the police report. Is it standard to give a statement to 3rd party insurance company of the at-fault party?
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Old 11-17-2014, 10:30 AM
 
Location: Connecticut
470 posts, read 1,198,847 times
Reputation: 396
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.
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Old 11-17-2014, 11:39 AM
 
Location: Morrisville, NC
7,699 posts, read 10,074,906 times
Reputation: 6909
If you do talk to them, just be very careful what you say and think over every response in your head before saying anything.
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