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Diminshed value...shed some light

Discussion in '2nd Gen. Tacomas (2005-2015)' started by Alloutdrs1, Oct 23, 2019.

  1. Oct 23, 2019 at 9:40 AM
    #1
    Alloutdrs1

    Alloutdrs1 [OP] Well-Known Member

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    Andrew
    Virginia Beach, VA
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    12' Mag gray Doublecab 4x4
    Distinct Offroad light bar, Rigid E-series and amber duallys, Leer 100xq, Oem roof rack, Oem bed mat, Bullculla trailer plug relocate bracket, Rear diff vent mod, front mud flap chop, Color matched Grille w/Andres devil horns, Wet okoles and weathertechs
    Ok so my Tacoma was hit, detailed in this thread https://www.tacomaworld.com/threads/ugh.632028/

    Repairs are complete, frame was straightened. Now time for me to file a diminished value claim, those of you who have done this did you hire someone or fight it out yourself? From my reading looks like I need to file an inherent diminished value which deals with covering my resale value loss. For a vehicle that would be marked as a frame damage vehicle what figure do you guys think I need to shoot for?

    I found this on the Carfax site "A car that’s suffered structural damage and has been repaired usually will retain a lower-than-average resale value. This can vary, of course, according to the vehicle and the severity and nature of the damage. Sources we checked indicate a structurally damaged car or truck should be worth anywhere from 30 percent to 70 percent less than an undamaged model." Don't know how much truth is in that though.

    Thanks for the insight!
     
  2. Oct 23, 2019 at 11:16 AM
    #2
    gotoman1969

    gotoman1969 Well-Known Member

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    In Texas you can only file diminished value if it’s in your policy. Not sure how it works in VA
     
  3. Oct 23, 2019 at 11:20 AM
    #3
    gotoman1969

    gotoman1969 Well-Known Member

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    Update for texas. misspoke. Can only file if damage was caused by an accident in which your were not at fault.
     
  4. Oct 23, 2019 at 11:38 AM
    #4
    nirav2011

    nirav2011 Well-Known Member

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  5. Oct 25, 2019 at 8:26 AM
    #5
    Steve_P

    Steve_P Well-Known Member

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    I would say get a pro to do it for you. I tried this once before on my own and was completely ignored.
     
    whatstcp and gotoman1969 like this.
  6. Oct 25, 2019 at 6:04 PM
    #6
    Fullboogie

    Fullboogie Well-Known Member

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    Diminished value laws vary by state. You'll need to find an attorney buddy and ask.
     
  7. Oct 26, 2019 at 8:14 AM
    #7
    Alloutdrs1

    Alloutdrs1 [OP] Well-Known Member

    Joined:
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    1,164
    Gender:
    Male
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    Andrew
    Virginia Beach, VA
    Vehicle:
    12' Mag gray Doublecab 4x4
    Distinct Offroad light bar, Rigid E-series and amber duallys, Leer 100xq, Oem roof rack, Oem bed mat, Bullculla trailer plug relocate bracket, Rear diff vent mod, front mud flap chop, Color matched Grille w/Andres devil horns, Wet okoles and weathertechs
    I know I can file it in my state, I have done it before on a past truck, got a check for 4200$. I have a neighbor who got a diminished value attorney and it ran him about $350. I was just trying see if anyone else has claimed this with there tacomas to try and get a range of what I should be going after.
     

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