Mike "Wuzzy121". Rest in peace, brother

Go Back   Tacoma World Forums > Tacoma Discussion > 2nd Gen. Tacomas

Notices

Diminished Value for a 3-day brand new 09 Tacoma?

Reply
 
Thread Tools Search this Thread
Old 07-01-2009, 01:31 PM   #1
dawn007 [OP] dawn007 is offline
Junior Member
dawn007 is on a distinguished road
Joined: Jul 2009, #19156
Location: northern CA
Gender: Male
Posts: 1
dawn007's Tacoma Gallery
Question Diminished Value for a 3-day brand new 09 Tacoma?

Any suggestions on how to provide support for a "diminished value" claim?
Would you buy a Tacoma for the full KellyBBook price when the truck looks perfect, but has been in an accident - rear & front end damage (is on the Carfax report)? I am concerned that I will not be able to sell my truck for what it should be worth before I was rear-ended.

Yep, 3 days after I bought my truck, I teenager in a suburban rear-ended me while I was at a stoplight - he hit me going about 35 miles/hour and I was slammed into the car in front of me. So, $6000 dollars in body-work later, my truck looks new (& had no frame damage), but has that big glaring "accident" sign on the carfax report.

The teenagers parents had insurance and the company covered the repairs, but refuse to consider that the truck is now actually worth quite a bit less than what it was before the accident. So - this is where I need help, if I were to sell my truck right now, I might list it as $28000 (Kelly Blue Book price for private party value - it only has 2000 miles). So, as a potential buyer, what would you be willing to pay considering the extensive damage that you saw listed on the carfax report for this truck?

Any suggestions or help would be greatly appreciated!
  Reply With Quote
Old 07-01-2009, 01:48 PM   #2
Señor Member
DriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shedDriverSound is one of the sharper tools in the shed
 
DriverSound's Avatar
Joined: Mar 2009, #15329
Location: SoCal
Gender: Male
Posts: 2,134
DriverSound's Tacoma Gallery
I bought mine for $28K from the dealership with 8 miles so for me to buy a not so brand new truck that had been in an accident, the price has to be pretty low. $21K at most.

I'm sure Carfax only states accident on it but it's really up to you the seller to explain where the accident occured on your truck. You can lie like used car sales people do and just say fender bender.
  Reply With Quote
Old 07-01-2009, 01:52 PM   #3
I think therefore I'm a Democrat
Richman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shedRichman21 is one of the sharper tools in the shed
 
Richman21's Avatar
Name: Jeff
Joined: Jan 2009, #12603
Location: Albuquerque, NM
Age: 39
Gender: Male
Posts: 443
Richman21's Tacoma Gallery
Wow. I don't have an answer but I'm surprised that your truck wasn't totaled. My 2006 was rear ended at about 15mph by a 1978 Mercury Cougar and had ~$15k in damages because the frame was bent and folded, but ended up getting it totaled. That's why I have a 2009 now. Sorry to here about your situation, that totally sucks.
  Reply With Quote
Old 07-01-2009, 01:54 PM   #4
Senior Member
FL4x4Taco is a glorious beacon of lightFL4x4Taco is a glorious beacon of lightFL4x4Taco is a glorious beacon of lightFL4x4Taco is a glorious beacon of lightFL4x4Taco is a glorious beacon of light
Joined: May 2009, #17595
Gender: Male
Posts: 323
FL4x4Taco's Tacoma Gallery
Sucks dude. Reality is it is worth less. But as long as they fixed your car... technically that's all they have to do. Don't believe the law entertains "deminished value". I think their idea is accidents happen.
  Reply With Quote
Old 07-01-2009, 01:56 PM   #5
I'll try being nicer if you try being smarter.
mws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shed
 
mws4ua's Avatar
Name: Matt
Joined: May 2008, #6624
Location: the Ham
Gender: Male
Posts: 6,332
mws4ua's Tacoma Gallery
I purchased a car recently and I didn't even consider vehicles w/ accidents on the vehicle history report. Anybody w/ half a brain will offer you a good bit less for your car if they see the wreck on the CarFax. Used dealers (like CarMax, etc.) will do the same. That's the reason that diminished-value claims exist in the first place.

If their insurance company isn't willing to give you money for the diminished value, I would absolutely lawyer-up. The wreck didn't cost you just the repair work, but the diminished re-sale value and you should be compensated for it.
  Reply With Quote
Old 07-01-2009, 01:59 PM   #6
Senior Member
Good351 is a splendid one to beholdGood351 is a splendid one to beholdGood351 is a splendid one to beholdGood351 is a splendid one to beholdGood351 is a splendid one to beholdGood351 is a splendid one to beholdGood351 is a splendid one to behold
 
Good351's Avatar
Joined: Feb 2009, #14055
Location: Ames, IA
Gender: Guy
Posts: 430
Good351's Tacoma Gallery
Had the same thing happen to my 08. At 3500 miles I got side swiped and caused $5500 damage to my truck. I had toyota do all repairs and it looks and drives like new, but it's still been in an accident. Several people told me that it wouldn't be on the carfax report, but I'm pretty sure it is...
  Reply With Quote
Old 07-01-2009, 02:00 PM   #7
Senior Member
BlissTaco is a jewel in the roughBlissTaco is a jewel in the roughBlissTaco is a jewel in the roughBlissTaco is a jewel in the rough
 
BlissTaco's Avatar
Name: James
Joined: Jun 2009, #18587
Location: San Diego
Gender: Male
Posts: 153
BlissTaco's Tacoma Gallery
Different situation, but...I recently sold 99 Tacoma that I had re-ended someone in. The work was done at a very reputable shop (about 4k in damages) and I had all of the details. Because it was an older truck the repairs actually made it look better then before. The buyer was a bit concerned, but still paid over KBB.
Biggest difference however is that there is a more limited supply of good older Tacoma’s.
  Reply With Quote
Old 07-01-2009, 02:04 PM   #8
I'll try being nicer if you try being smarter.
mws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shed
 
mws4ua's Avatar
Name: Matt
Joined: May 2008, #6624
Location: the Ham
Gender: Male
Posts: 6,332
mws4ua's Tacoma Gallery
I just called my insurance agent to ask and he's going to look into it. I may have spoken a bit too early before, b/c I'm no absolutely longer sure that you can get a 'diminished value' settlement. I KNOW I've heard of such a settlement, but I can't remember the source.

My 'Lawyer-up' comment was made assuming diminished value claims were more common place. I'm not in favor of suing to sue... but if there IS a legitimate diminished value claim and legal precedent for one, I would fight for it.

The beginning of my statement is the same... if I were looking for a truck, I wouldn't consider one that had been in a wreck b/c you just never know. I hope there is legal precedent out there that will help you out.
  Reply With Quote
Old 07-01-2009, 02:23 PM   #9
I'll try being nicer if you try being smarter.
mws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shed
 
mws4ua's Avatar
Name: Matt
Joined: May 2008, #6624
Location: the Ham
Gender: Male
Posts: 6,332
mws4ua's Tacoma Gallery
I found an article specific to California that might be helpful. It's not looking good... but if you feel that it's several thousand dollars you might want to take it to a lawyer to see what he/she thinks.

http://www.carinsurance.com/kb/content27693.aspx

Other articles I've read say that GA and KS specifically allow for diminished value claims. You should have your next wreck there.
  Reply With Quote
Old 07-01-2009, 02:48 PM   #10
GSB GSB is offline
Member
GSB is on a distinguished road
Joined: Apr 2009, #16385
Location: Odenton, MD 21113
Age: 45
Gender: Male
Posts: 83
GSB's Tacoma Gallery
Check here:

www.advocateautoclaims.com
  Reply With Quote
Old 07-01-2009, 04:55 PM   #13
She's Fat, I'm Drunk, It's On.
05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed05 TRD Sport is one of the sharper tools in the shed
 
05 TRD Sport's Avatar
Joined: Mar 2009, #15232
Location: 30 minutes south of Atlanta
Gender: Guy
Posts: 979
05 TRD Sport's Tacoma Gallery
My last truck got hit from behind, it was almost 1 year old w/very low miles. 6-7 yrs ago. It still cost me almost $400 a month and it wasn't worth as much as it was before the wreck. The resale price also took a hit. You usually can't get full resale for a wrecked auto. Yeah, Progressive ins. paid me almost $2k in diminished value. They knew exactly what I was talking about and didn't hesitate to cut the check. Don't take no for the answer. This was in Ga. may not apply in your state.
  Reply With Quote
Old 07-01-2009, 05:41 PM   #14
Member
TheKneeBiter is on a distinguished road
Joined: Nov 2008, #10934
Location: Just outside of Boston
Gender: Male
Posts: 35
TheKneeBiter's Tacoma Gallery
I am looking at used convertibles now as a second vehicle. When I see ACCIDENT on the carfax or if I see any sign of repaint I walk. It is a bad selling point for you.
  Reply With Quote
Old 07-01-2009, 05:52 PM   #15
MotoNerd
Caddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud ofCaddmannq has much to be proud of
 
Caddmannq's Avatar
Joined: Sep 2008, #8917
Location: California
Age: 59
Gender: Male
Posts: 356
Caddmannq's Tacoma Gallery
Quote:
Most insurance providers believe the role of auto insurer is to repair or replace a damaged vehicle to pre-accident condition...
IMHO the real issue is this: Is it even possible to repair a new vehicle to pre-accident condition? It's like loss of virginity: there's actually no known way to reverse the process.
  Reply With Quote
Old 07-01-2009, 05:59 PM   #16
Sticks For Troops
AFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shedAFButters is one of the sharper tools in the shed
 
AFButters's Avatar
Air Force: (2T2X1)Air Force Rigger
Name: "Butters"
Joined: Sep 2008, #9113
Location: Rio Rancho, NM -- From Frisco, TX
Age: 29
Gender: Dude
Posts: 9,469
AFButters's Tacoma Gallery
If its fixed and like new why do you want to sell it.. just keep it.. and then 5 years down the road sell it and be like it was a fender bender no big deal.. gimme 15k
  Reply With Quote
Old 07-01-2009, 08:41 PM   #17
Member
07taco is on a distinguished road
 
07taco's Avatar
Joined: Feb 2007, #838
Location: san antonio
Gender: Male
Posts: 75
07taco's Tacoma Gallery
I got rearended by an a$$ that had no insurance and my insurance paid the claim and they even paid for diminished-value not much but $800 more dollars to help since i had to pay the deductible. All I can say you pay for insurance use it even if you have to pay the deductible like I did. Thats why they have attorneys to get the money back.
  Reply With Quote
Old 07-02-2009, 04:57 AM   #18
I'll try being nicer if you try being smarter.
mws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shedmws4ua is one of the sharper tools in the shed
 
mws4ua's Avatar
Name: Matt
Joined: May 2008, #6624
Location: the Ham
Gender: Male
Posts: 6,332
mws4ua's Tacoma Gallery
Quote:
Originally Posted by 05 TRD Sport View Post
This was in Ga. may not apply in your state.
Yeah... GA is one of the few states that has laws re: diminished value. Looks like if you're going to get hit by somebody, it should be in GA or KS.
  Reply With Quote
Old 07-02-2009, 05:27 AM   #19
Member
thecreeper is on a distinguished road
Joined: Mar 2009, #15165
Gender: Male
Posts: 99
thecreeper's Tacoma Gallery
like a guy at work, bought a 08 FJ Cruiser brand new. He totaled the FJ after 3 days of ownership with only 588 miles. Should have gotten GAP insurance. That FJ was worth nothing and boy was he angry. He filed complaints with the insurance dept, insurance co, adjuster, BBB, you name it.

just an unfortunate event. Its something I never thought about until that story. I'm buying a new Taco tomorrow and putting down a good sum... its not something anyone really thinks about (GAP) but i don't know, is it worth it? I think the likelihood of something like this happening is rare but u just never know.

I remember checking a CARFAX on a used Toyota Land Cruiser (07) and found that it had an accident / repaint I stayed clear as the dealer sold it as is. When I showed the dealer the CARFAX the salesman got all, "huh wha? hmmm that's interesting..." whatever!!!!! I do not like buying used but i'll consider and I always run a CARFAX and Autocheck... you'd be surprised at some of the stuff that turns up on used and how dealers claim they don't know about it.
  Reply With Quote
Old 07-02-2009, 05:52 AM   #20
bass turds
Veccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shedVeccster is one of the sharper tools in the shed
 
Veccster's Avatar
Name: Eric
Joined: Aug 2008, #8407
Location: Pittsburgh - The City of Champions
Age: 35
Gender: Male
Posts: 2,089
Veccster's Tacoma Gallery
Sorry to hear about the accident, dude...that does suck. As long as your willing to do so, keep fighting the insurance company. If it becomes tiresome, just let it go - shit happens and it sucks sometimes.

Not sure of you age or financial situation but do you plan to keep the vehicle for 7+ years? At that point, it really won't matter much on resale. Hell, it may be in a couple more accidents by then.
  Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
DLAA Brand OEM Fog Light Install, 09 Tacoma BPachom Lighting 2 05-11-2014 02:11 PM
Diminished value / Accelerated depreciation terrman 2nd Gen. Tacomas 8 11-28-2011 09:46 PM
Nice Day For A Truck Chase in my '09 Tacoma!! Russellstiltskin 2nd Gen. Tacomas 15 11-23-2011 06:32 PM
Diminished Vehicle Value? Sprink21 General Automotive 1 07-21-2011 08:17 AM
Brand new '09 TRD 84cj7lt1 New Members 25 04-17-2009 11:49 AM


Copyright © 2014 Tacoma Forum. Tacoma World is not owned by, or affiliated with Toyota Motor Corporation.