View Poll Results: How much lower will you be willing to buy the car? Fair retail of $21K
<= $4000
4
25.00%
$5000
3
18.75%
$6000
2
12.50%
$7000
1
6.25%
$8000
0
0%
>= $9000
6
37.50%
Voters: 16. You may not vote on this poll
Need Help!!! Diminished value
02-06-12, 08:42 AM
#16
Super Moderator
Can I appeal my home's tax assessment by doing an Internet poll asking people what they'd be willing to pay for my place? Of course not. Values are determined by recent sales of comparable homes.
I strongly suspect it will be the same thing in this instance. If you can provide written evidence from sellers (e.g., Lexus dealer, used car dealer, etc.) of comparable sales of undamaged vs. repaired vehicles similar to yours, you'll be providing them with the kind of solid evidence they would need to fairly value your claim.
I strongly suspect it will be the same thing in this instance. If you can provide written evidence from sellers (e.g., Lexus dealer, used car dealer, etc.) of comparable sales of undamaged vs. repaired vehicles similar to yours, you'll be providing them with the kind of solid evidence they would need to fairly value your claim.
02-06-12, 08:51 AM
#17
Driver
Thread Starter
Can I appeal my home's tax assessment by doing an Internet poll asking people what they'd be willing to pay for my place? Of course not. Values are determined by recent sales of comparable homes.
I strongly suspect it will be the same thing in this instance. If you can provide written evidence from sellers (e.g., Lexus dealer, used car dealer, etc.) of comparable sales of undamaged vs. repaired vehicles similar to yours, you'll be providing them with the kind of solid evidence they would need to fairly value your claim.
I strongly suspect it will be the same thing in this instance. If you can provide written evidence from sellers (e.g., Lexus dealer, used car dealer, etc.) of comparable sales of undamaged vs. repaired vehicles similar to yours, you'll be providing them with the kind of solid evidence they would need to fairly value your claim.
Remember regardless of how much dealers quote you, it is BUYERS' choice to buy the car or not. And the thread already has few members who wouldn't consider it no matter how much lower the car is. Therefore, buyer's perspective is MORE IMPORTANT than any other source to my opinion.
02-09-12, 04:23 PM
#18
Driver School Candidate
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I wouldn't purchase a car with that amount of damage on it, and I would definitely take pictures of the car before repairs to document it. If your state supports a diminished value claim then I would pursue it, given that amount of damage. I have filed a diminished value claim on my car - it is still pending in Connecticut - and have found helpful diminished value information on http://matthewforrestlaw.com/diminished-value/
Last edited by allseasons; 02-13-12 at 01:34 PM.
02-23-12, 07:02 AM
#19
Driver
Thread Starter
Updated - I got an appraisal from a local lexus dealer and average number from this thread's poll. I gave the insurance my number and they got back with a much lower number (saying that is all they will pay for the diminished value).
I asked them for documentations to support their number as I provided mine (appraisal from lexus dealer). But they been ignored my requests and won't return my calls/emails. What should I do next?
I asked them for documentations to support their number as I provided mine (appraisal from lexus dealer). But they been ignored my requests and won't return my calls/emails. What should I do next?
02-23-12, 07:36 AM
#20
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Location: TX
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Some options I've used to collect fair DV in Texas two times in the past:
1. Document everything -- email is nice since it's a written form.
2. Move up the chain of command to supervisors, etc. Probably a waste of time but can still provide you with more evidence that you've tried to collect a fair amount of DV in good faith and were rejected.
3. Contact either your state attorney general's office or the appropriate Dept. of Insurance for your state and put in a formal complaint for fraud/bad-faith negotiations on the part of the insurance company, They take these claims very seriously and are forced to respond. Even if this doesn't get you a fair settlement, it will still provide you more evidence for the final possible step...
4. Sue the person who hit you (not the insurance company -- although they will be forced to pay) for the full fair amount of DV in Maryland small claims court (Limit is only $5,000 though). But, it's cheap and easy to file, no attorneys, and you can recover your court costs if and when you win. If you're forced to take this step, you may also want to pay a couple hundred dollars for an expert DV appraisal and possibly even see if they can come to court with you as an expert witness.
Ben.
1. Document everything -- email is nice since it's a written form.
2. Move up the chain of command to supervisors, etc. Probably a waste of time but can still provide you with more evidence that you've tried to collect a fair amount of DV in good faith and were rejected.
3. Contact either your state attorney general's office or the appropriate Dept. of Insurance for your state and put in a formal complaint for fraud/bad-faith negotiations on the part of the insurance company, They take these claims very seriously and are forced to respond. Even if this doesn't get you a fair settlement, it will still provide you more evidence for the final possible step...
4. Sue the person who hit you (not the insurance company -- although they will be forced to pay) for the full fair amount of DV in Maryland small claims court (Limit is only $5,000 though). But, it's cheap and easy to file, no attorneys, and you can recover your court costs if and when you win. If you're forced to take this step, you may also want to pay a couple hundred dollars for an expert DV appraisal and possibly even see if they can come to court with you as an expert witness.
Ben.
02-23-12, 09:57 AM
#21
Driver School Candidate
Join Date: Sep 2011
Location: ca
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I was in a similar situation in California. I called the at-fault insurance and they told I should file a diminish value claim when it comes time to sell my car. Which I don't really buy. Anybody familiar with this process in Cali?
02-23-12, 01:02 PM
#22
Driver
Thread Starter
Some options I've used to collect fair DV in Texas two times in the past:
1. Document everything -- email is nice since it's a written form.
2. Move up the chain of command to supervisors, etc. Probably a waste of time but can still provide you with more evidence that you've tried to collect a fair amount of DV in good faith and were rejected.
3. Contact either your state attorney general's office or the appropriate Dept. of Insurance for your state and put in a formal complaint for fraud/bad-faith negotiations on the part of the insurance company, They take these claims very seriously and are forced to respond. Even if this doesn't get you a fair settlement, it will still provide you more evidence for the final possible step...
4. Sue the person who hit you (not the insurance company -- although they will be forced to pay) for the full fair amount of DV in Maryland small claims court (Limit is only $5,000 though). But, it's cheap and easy to file, no attorneys, and you can recover your court costs if and when you win. If you're forced to take this step, you may also want to pay a couple hundred dollars for an expert DV appraisal and possibly even see if they can come to court with you as an expert witness.
Ben.
1. Document everything -- email is nice since it's a written form.
2. Move up the chain of command to supervisors, etc. Probably a waste of time but can still provide you with more evidence that you've tried to collect a fair amount of DV in good faith and were rejected.
3. Contact either your state attorney general's office or the appropriate Dept. of Insurance for your state and put in a formal complaint for fraud/bad-faith negotiations on the part of the insurance company, They take these claims very seriously and are forced to respond. Even if this doesn't get you a fair settlement, it will still provide you more evidence for the final possible step...
4. Sue the person who hit you (not the insurance company -- although they will be forced to pay) for the full fair amount of DV in Maryland small claims court (Limit is only $5,000 though). But, it's cheap and easy to file, no attorneys, and you can recover your court costs if and when you win. If you're forced to take this step, you may also want to pay a couple hundred dollars for an expert DV appraisal and possibly even see if they can come to court with you as an expert witness.
Ben.
This will be a long fight....................................................
02-23-12, 07:45 PM
#23
Pole Position
Join Date: Aug 2011
Location: CA
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I have seen (06-08) salvage IS250 on CRAIGSLIST. They look in very nice shape. Some have low miles, some have the sport package and don't go over 17.5K. Check Craigslist in your state or CAlifornia maybe that will help you with your dillemma.
Good luck
Good luck
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