Diminished Value Help

No way that's 35k in damage. Everything in the engine bay is untouched. All 4 doors, the hood, and tailgate are perfect

Body shop took your insurance for a ride.

 

For anybody that is in a similar situation, the shop was Ted Browns auto shop in newburgh, Indiana. The did a phenomal job, it honestly looks factory. Cant tell where the blended, new bolts in creases are all painted like factory etc. I actually used to be an engineer for an auto company and have very high expectations having worked in a Japanese manufacturing plant. I was able to work in every department (paint, body, trim, engine, etc etc). Very thankful the shop was able to meet my high standards. My dad also hit a coyote in his NSX and took it to Ted Browns, car looks fantastic, and its all aluminum. Highly recommend that body shop.

 

Sorry to hear about this. Based on your experience with the shop and adjuster it sounds like you were at a good shop and I can guess the insurance company.

As long as you purchased and not leased I would put in a demand for at least 15,000. It may sound high, but better to start the negotiations high then low and not leave yourself room. If it is leased you will not get anything. After you put in a demand in writing update us to what they say.

 

I have all the paperwork for the parts and labor costs. Main part hitters were: frame, axle (new diff), transfer case, cab corner replacement. They had to cut off the old cab corner top to bottom and weld in a new one. Cant even tell. Body lines and paint are perfect.

 

thankfully i did purchase so i dont have to worry about extra nonsense

 

All replacement parts are OEM also unless upgraded by myself.

 

Start simple, send them a written demand for 15k and see what they say. Keep it simple, nice, direct and to the point. Once they respond you will know what you are dealing with.

It will be 1000% better than asking a bunch of yahoo’s on the internet

 

The cost of repairs look right. Like you said. Frame replacement alone is usually 7-12k. Bed side panel 4-6k. They had to section in the uniside corner, paint the doors, replace fender, bumper, maybe cooling, suspension, etc.

People start throwing prices without knowing everything involved in accessing damages, repair planning and actual repairs.

 

Every year that passes lessens the significance of a major accident. In 5 years it will still matter but to a much lesser degree. In 7-8 years it will be a minor factor in value. After 10 years or so it will make little to no difference. At that point the value is determined by the present condition, not something that happened a decade ago. I just retired from a 30 year career in the automobile business. And I can tell you that dealers will bash a trade with a significant accident, but when it comes time to retail it, they will ask just as much as they would for a unit with a clean history. And probably make good money because someone will come along and pay it. Might take a little longer to sell but as the saying goes “there’s an ass for every seat”.

 

I agree, though I do appreciate all the input I can get. I too was shocked when it wasn't totaled. I think if it was quoted correctly initially it would've been for sure, but nothing we can do about that now lol.

 

Agent here: If the insurance company balks at paying you tell them this: "Okay, I understand. You weren't driving. Your customer was driving when he hit me. He is liable. You telling me no on paying the diminished value does not change the fact that he is liable. So I will sue him for the diminished value. Then you are back on the hook to offer him a defense. That is a real cost to you. So add that to your current offer. Now we are nearer to $15K. THEN factor in that there's not a small claims court jury in the world that will side with your client. The police report says his is solely liable. I'll seat a jury of my peers and they will find in my favor. When was the last time you won a jury trial when your client was found liable? Game. Set. Match. So your insurance contract obligates you to pay his property damage claims, up to the PD limits of his policy, albeit now with your cost of defense added on, AND reimbursing me for MY cost to prosecute. Plus court costs, which are high in jury cases.

SO...how do you wish to proceed?"

 

Thank you for the great response! Greatly appreciated and will be using this next time I speak with them.

 

You need to get $15k diminished value and sell it to a car max tomorrow. If you can swap your aftermarket parts back to OEM do it and buy a new Tacoma. I get the truck looks great and you can hardly tell but that CarFax is awful. I wouldn't pay $20k for that.

 

The problem with this is that while some states do allow jury trials in small claims court, most only allow bench trials. Also the limits for small claims, except in Georgia and Tennessee, are well below $15k

 

Are you planning on keeping your truck?

 

For the foreseeable future yes. For me knowing how well the shop did and with the offers I've received I cant justify selling it. The carfax is nasty, but the repairs were done correctly. Even though lots of work was done, I doubt if nobody saw the carfax they would never guess its been in a wreck.

 

Im sorry about your Taco, You might be better off keeping it LONG term. The value of it with that carfax will be shellacked . Sue the asshole who smashed you. Fuck em and their negligence .

 

The maximum you’ll be able to get is 10 percent of the trade-in-value.
The following states are known to allow drivers to file a diminished value claim with the at-fault driver’s insurance company:

• Arizona
• Colorado
• Florida
• Georgia
• Illinois
• Indiana
• Iowa
• Kansas
• Louisiana
• Maryland
• New Mexico
• New York
• Oregon
• South Carolina
• Virginia

if you live in one of these states, so you’ll have to follow the insurance companies D-V filing rules; in my understanding.

https://www.coverage.com/insurance/auto/diminished-value-claim/

 

Truck looks great.

If it's repair is as good as it looks, the best overall plan would be to drive it and enjoy it for 20 years or so, then give it to someone in need of a serviceable truck.

 

We can speculate all day on what a good number is, but if you want to know what the actual number is, I strongly suggest you hire a professional appraiser with diminished value claim experience. That way you have something that defends your position with the other driver's insurance company and have an expert available to you if you need to pursue this further. If you don't want to go it on your own there are plenty of personal injury ambulance chasers....errrrr....attorneys...who will help you for a price.