How to go about diminished value? 2018 TRD OR

Interesting...as a lessee you have the right of first refusal to purchase that vehicle at the end of the lease can’t see how they can arbitrarily dismiss your claim without cause when all of the terms to that contract have not been executed.

 

Don't disagree, but think about how many people that lease vehicles turn over their car after the lease term expires. Lessees are basically just renting the car with an option to purchase.

It would be interesting to call up the leaseholder (Toyota Financial or whomever it is) and propose splitting the DIV claim 50/50 since they do not know about it and it's just found money for them...

 

Update: The adverse insurance company reached back to me regarding DIV after I showed trade-in values from a local Toyota dealership as well as from CarMax. Any advice would be appreciated.

"Thank you for the opportunity to review your request for diminished value to your vehicle.

An appraisal must show the fair market value of the vehicle immediately prior to the loss (noting vehicle-specific information to support those values) and after proper repairs.

Based on our review of the documentation you submitted, you did not prove your diminished value claim because:

The appraisal failed to prove the Fair Market Value prior to the loss.

The appraisal failed to prove the Fair Market Value after the loss.
Therefore, we are unable to agree you sustained a diminution of value to your 2018 Toyota TACOMA as you have failed to meet the burden of proof."

 

To the at fault insurer:

I did not receive the benefit of my bargain, the very contract thought to raise and limit my actions. It’s your obligation to make me whole again and you are denying me that benefit which I’m entitled to under the contract. You leave little choice but to raise the issue in a court of competent jurisdiction at your expense.

 

Did the trade in quotes show the amount it would have been if your Tacoma was not in an accident? You need to show the before value (vehicle not in an accident) vs the present value (same vehicle that was involved in an accident). Again, doing this for a living, I suggest you find a lawyer that handles DIV claims. That alone is sometimes enough to show the other side you are serious.

 

Was rear ended in my taco about a month ago and it was $5000 to fix. The guy who hit me had Liberty Mutual so after I picked the truck up I filed a diminished value claim and they paid me $1200. He started off with an offer of $975. Would of liked more but it is what it is.

 

"Affidavit of truth" isn't some magic spell it literally has zero relevance to this situation, its just a sovereign citizen buzzword like "sui juris" and "corporate shell".

Also if you're gonna give pseudo legal advice you can at least spell "whether" and "you're" correctly come on man step up

 

Never said it was but that document is a vessel. If I place it on water it will float and it’s cargo is information gonna make its way to the magistrates office to be docked and issue a docket number...just like you came out of your mothers womb you were in water...lol

 

I just went through this this month for a front end collision where two cars in the intersection collided together and all of the force came at me while I was stopped waiting for the Red light. It happened in September of 2018. I used the website below to calculate what I considered to be a low number. Farmers first said they didn't calculate any DV since the Tacoma's keep their resale value so well. I went back and forth until I got them to settle. I had $24k in damages. Nothing to the engine or frame. Just front fenders, front grill, hood and front doors on both sides.

Good luck.

https://www.wikihow.com/Calculate-Diminished-Value

 

So sorry to reopen old threads, but I am looking into this since I had a fairly major bit of work. Bill for repair is at roughly 15k and I'm looking to get proper diminished value. My best guess puts the diminished value at around 12-13k. Pre accident value is roughly 42k and it looks like a best-case offer is approximately 29k to sell.

Problem is apparently most insurance uses the 17c 10% cap, which would essentially leave me in the lurch for 8k~ of the damage value just vanishing into the wind. I think in SC it's not a legal cap, just an insurance company thing to stop their losses, but does anyone here have experience with this sort of stuff?