Filing diminshed value claim help

Hey all, I was recently rear ended and my truck is getting a new frame and bed replacement. Obviously this will be brining my trucks resale value down. I am hearing from a lot of other folks on here that i should file a diminished value claim. Essentially this would compensate for the loss of value due to the crash. How do I do that and do you guys have and any recommendations of any diminished value claimed specialists in the san diego california area?

 

In CA "Diminished Value" claims are hard to prove and rarely happen. Good luck OP!

 

Don't expect much, but it is worth the ask. In most states it is a basic math formula. It starts at 10% of your vehicles value and then goes down from there. They deduct from that based the severity. Then they deduct mileage.

So a vehicle valued at $30K will start at $3k. They will then deduct on severity. You will probably get 75% unless your airbags went off, you will want to fight for 100%. at 75% that $3k becomes $2250. Then the mileage hit. Let's say you have between 20-40k. You will get 80% of that $2250 which is $1800.

Pretty much nonsense when I had a $20k Acura that was rear ended. It had 70k. That put it in the 40% multiplier for mileage and ended up with a $400 diminished value check. When I went to trade it in I was getting offers of $10k because it was labeled as sever rear in damage by car fax from the insurance company.

 

Good luck
https://time.com/nextadvisor/insurance/car/diminished-value-claim/

 

Lawyer up bro...

 

Why? For a few hundred bucks worth of DV? In CA!

I'm always amused by the peeps that believe they'll get rich off a fender bender.

It's your money and your choice though... <shrug>

 

I would find different shop can totaledyou truck. Frame and bed replacement should be totaled anyway.

 

Must have a family member that’s a lawyer. No need to for this. You posted this twice and others responded in your other thread.

 

Lawyers offer help and advice in filing claims and filling out forms.

The OP has three threads covering this issue. Asking for help.

I'm always amused by the "peeps" who make assumptions.

 

I have two RNs in my family. I did not tell Gus to "Nurse up"

 

...assumptions possibly maybe backed by a bit of experience... or maybe it was a fortune cookie I read.

Lawyers don't help you "fill out forms" and such for free is what I'm getting at. OP might want to do that but I'm sure due to the small loss size they will do it for an hourly rate and not on contingency.

Up to OP to decide if he's willing to play the risk v. reward game to see if he comes out on top. My "guess" is it wouldn't be hence my comment. However, not my rodeo...

 

I think I'm gonna start making a new thread for every random thought I have too, even if it pertains to the same initial issue with questions that can't possibly be answered by people on the internet.

 

Have it fixed,sell it private.These days you'll probably get more than what you paid for it anyway.

 

Why? What could a lawyer possibly accomplish? You do realize that even if you could find one, you are likely to end up giving that lawyer 80% of what they recover. I'm assuming that anyone that sees the words 'Lawyer' and 'bro' in the same sentence would probably question that advice.

 

Why do new truck parts diminish the value?

 

Accidents diminish value, we all know this… The problem is getting the insurance company to agree — they’re all scumbags, so good luck to the OP.

 

OP should consider this— I just recently had a 2020 totaled from being rear ended due to frame damage.

 

P.S.

You have the right to choose the shop so do a little research and calling around. I had a particular shop in mind before the AAA driver showed up. He mentioned having a personal relationship with another shop and I had said I really wanted it totaled because of diminished value. Let him take it to the place he recommended and lo and behold the thing was totaled.

 

That is a good question especially when the parts are the same parts that the manufacturer put on to begin with. It is all part of the human psyche that we think that once something is replaced that it isn't as good as it once was.

 

Good point. I like that.