Advice on getting depreciation from ins. companies?

I can't believe all this fuss is over a low end VW.....

yamaha wrote: I can't believe all this fuss is over a low end VW.....

Because it is potentially thousands of dollars back in my pocket for a depreciated asset. No need to be an ass, I get your disgust with this topic and your slights are dull enough we all understand. This is good information for any new car even a lowly povery spec 2012 TDI.

In reply to crankwalk:

Thousands is a bit of an excessive expectation......either way, back to normally scheduled programming

yamaha wrote: In reply to crankwalk: Thousands is a bit of an excessive expectation......either way, back to normally scheduled programming

You are clueless how this works. Your opinion is not relevant and you apparently have something against me personally. The multiple people on here that have contacted me with their scenarios of damage over $5k on new cars have recieved over $1500 and under $3500

Those numbers have commas in them. Thousands.

This is why I said potentially. All scenarios are different and once I get my estimate back, that gives a clear picture on what to pursue.

In reply to crankwalk:

I have nothing personal against you, thats all in your head. Thanks for calling me an ass btw.

I'm in the process of doing this now. I got rear-ended at a stoplight in my 5 month old, 2013 Mazdaspeed3 with 6640 miles on it. You better believe that her insurance company, which is the same as mine, will be paying diminished value on my car. I'm probably going to sell it and get something else. Cars are usually never the same after a 30mph impact, and I don't want to deal with squeaks and rattles in my once brand new car.

yamaha wrote: In reply to crankwalk: I have nothing personal against you, thats all in your head. Thanks for calling me an ass btw.

"I can't believe all the fuss about a lowly VW" That's not being an ass?

If your prized Ford Taurus was plowed into by a girl on her phone, I'd be on your side hoping everything got made right and not say "I can't believe all the fuss about a E36 M3ty Taurus"

crankwalk wrote:

yamaha wrote: In reply to crankwalk: I have nothing personal against you, thats all in your head. Thanks for calling me an ass btw.

"I can't believe all the fuss about a lowly VW" That's not being an ass? If your prized Ford Taurus was plowed into by a girl on her phone, I'd be on your side hoping everything got made right and not say "I can't believe all the fuss about a E36 M3ty Taurus"

Well to be fair, the diminished value on a Taurus that gets hit is probably so low that nobody is going to bother quibbling over the $25 in question.

In reply to Swank Force One:

Precisely......no different than your mx6. But hey, that $25 is like 4.5 packs of smokes man.......

I'm not sure what would happen with that car...

Salvage/rebuilt title car and all that. They'd probably total it out again, give me $400, let me buy the car back for $25, and tell me that they'll never insure it again now that it's been totaled for the 3rd time.

Swank Force One wrote: I'm not sure what would happen with that car... Salvage/rebuilt title car and all that. They'd probably total it out again, give me $400, let me buy the car back for $25, and tell me that they'll never insure it again now that it's been totaled for the 3rd time.

Reshell time to a clean title shell......keep rinsing and repeating

Datsun1500 wrote: In reply to ddavidv: Do you think an accident reported to carfax makes the vehicle worth less than one with no issues?

Sometimes, but not always. How's that for a committed answer?

Carfax...another topic that will get me spewing expletives faster than changing a Fiat 124 starter.

Bless the people at Carfax for being marketing geniuses, because they've convinced the public that having a Carfax means their pending purchase will be squeaky clean perfect.

Lies.

Or that buying without a Carfax means you will be purchasing some scary piece of junk welded together from 3 cars.

Lies.

It's a useful tool, nothing more. The sheeple that believe it is the next best thing to a blessing from God are the ones that will affect the value of the car that has one vs the one that doesn't. Those of us with half a brain that take the time to look a car over don't need Carfax's unreliable accident history report. Mileage and title history? Yes.

ddavidv wrote: Bless the people at Carfax for being marketing geniuses, because they've convinced the public that having a Carfax means their pending purchase will be squeaky clean perfect. Lies. ...." The sheeple that believe it is the next best thing to a blessing from God are the ones that will affect the value of the car that has one vs the one that doesn't....."

I agree with you entirely. Carfax to us as car enthusiasts are tools and we don't take them as gospel. However, Carfax has convinced most of the psuedo-informed car buying public it is a neccesity. Ridiculous or not, that's the way it is and that is my point. If I choose to sell or trade in my vehicle to a dealer or otherwise member of the "Sheeple" population later down the road, it's a potential problem I now have to deal with.

Which is why I think everyone who's had a bumper repainted that shows up as an 'accident' on Carfax should get a class action lawsuit against them...for diminished value.

ddavidv wrote: Which is why I think everyone who's had a bumper repainted that shows up as an 'accident' on Carfax should get a class action lawsuit against them...for diminished value.

LOL thats a great idea.

In reply to ddavidv:

which is a nice thought... except their reports are compiled from publicly available info...

...meaning those shops report those things typically because a law that was passed requires them to do so...

so... maybe be mad at lawmakers for requiring such things? :/

madmallard wrote: except their reports are compiled from publicly available info... ...meaning those shops report those things typically because a law that was passed requires them to do so...

Actually, not quite. A majority of the crash data Carfax gets comes from a database that a lot of insurance companies report to. Not the shops. Shops may report data that Carfax get find, but it's really driven by this database insurance companies use.

Notice I said "a lot of insurance companies" and not "all". Some companies don't report to this database, so Carfax can easily miss it. Or even if the insurance company does report, but they accidentally enter the wrong VIN, then Carfax won't pick it up. Hence, Carfax is a tool...both in the good sense and the bad sense.

Streetwiseguy wrote: No chance in hell of getting depreciation paid. I wouldn't waste my time.

Case is closed today. I recieved $1800 dollars in diminished value. If this situation is put on your plate, don't listen to insurance companies first offer, don't listen to people on the internet that have no experience with the matter, fight for what IS LEGALLY OWED to you and don't give up.

Thanks to ALLin this thread with first hand experience and all the helpful advice!

crankwalk wrote:

Streetwiseguy wrote: No chance in hell of getting depreciation paid. I wouldn't waste my time.

Case is closed today. I recieved $1800 dollars in diminished value. If this situation is put on your plate, don't listen to insurance companies first offer, don't listen to people on the internet that have no experience with the matter, fight for what IS LEGALLY OWED to you and don't give up. Thanks to ALLin this thread with first hand experience and all the helpful advice!

Well done! Tell us more. How did you come up with that amount? What did the insurance co. offer you? Did you hire an attorney?

Basil Exposition wrote:

crankwalk wrote:

Streetwiseguy wrote: No chance in hell of getting depreciation paid. I wouldn't waste my time.

Case is closed today. I recieved $1800 dollars in diminished value. If this situation is put on your plate, don't listen to insurance companies first offer, don't listen to people on the internet that have no experience with the matter, fight for what IS LEGALLY OWED to you and don't give up. Thanks to ALLin this thread with first hand experience and all the helpful advice!

Well done! Tell us more. How did you come up with that amount? What did the insurance co. offer you? Did you hire an attorney?

I got my own appraisal done. They said it was diminished in value $1800. The insurance company offered, $182. Nope! Then they offerd $450. Nope, I'm going to take you to court, letter written. They send out their own appraiser, sure enough he agrees.

They send me a check fro $1800 bucks. Almost 5k in damage on my 10 month old car. Now when I go to sell it and its worth less because it's "repaired" , I have that difference that is owed to me.

ddavidv wrote: This totally depends on what state you are in. Georgia pays DV on every claim. In PA, you'll never collect a dime. You have to find out what the story is where you live.

Very true.

Find out the legal "measure of damages" in your state. In mine, it's "The difference in value immediately before and immediately after..." the damage was done, with the cost of repair being admissible evidence, but not conclusive.

How did the repair work turn out? Did they do a good job?

I should have read the whole thread. You did well.

Glad to hear you're happy with the end results, and I don't want to refire the debate over the whole merit of a diminished value claim. Just a general word of caution for anyone else to not try to apply this situation to their own. Every claim is handled on it's own merit and every insurance company has a different stance and procedure on how they evaluate them. So your experience may not be the same as someone elses. I'm responsible for the diminished value program for my company, and I can tell you we would have done it differently.

Klayfish wrote: Glad to hear you're happy with the end results, and I don't want to refire the debate over the whole merit of a diminished value claim. Just a general word of caution for anyone else to not try to apply this situation to their own. Every claim is handled on it's own merit and every insurance company has a different stance and procedure on how they evaluate them. So your experience may not be the same as someone elses. I'm responsible for the diminished value program for my company, and I can tell you we would have done it differently.

Sure every experience is different but my point is TRY. For every one that said it was a waste of time, I have one thousand eighteen hundred reasons to disagree. I appreciate your advice from the other side of things throughout this process as well. I feel like this was a truly fair conclusion.

stuart in mn wrote: How did the repair work turn out? Did they do a good job?

They did do a great job. A little run on the passenger door handle underneath where you can feel it slightly but nothing truly visable.