Diminished Value on a 2015 after minor accident???

Keep us updated on the diminished value. I'll be looking into the same thing due to a minor accident. I had a buddy that got $1000 in diminished value for bumper damage on an older Hyundai.

 

Diminished value isn't going to be worth the effort in this.

Wife was in a rental car several years ago, guy pulls out of driveway into the side of the car ( '11 Chevy Impala) she was going about 50mph wiped from front corner thru to rear door, got into windshield, A pillar ( Chevy truck hit her ).

We got a bill for just over $10k , $800 of that was diminished value. so less than 10%.

You've got maybe $2000 damage, is $180 worth the hassle? keep pix, if it becomes an issue upon sale, show the damage. if they want to nit pick, they'll find even more weak reasons to try to knock the price down.

Tacomas hold their value, you're not going to loose much, and if this is the worst that ever happens to the truck, you're doing well.

 

I think if you would have done a little more research on DV, you guys could have done much better. All states have a little different take when dealing with DV. Insurance companies use the 17c formula to determine DV... A formula that is really unfair for the owner of the vehicle.

Here is the 17c formula explained... And how it favors insurance companies. http://kielichlawfirm.com/insurance-companies-calculate-diminished-value-claims/

After I get my damages quote, I'm definitely going to pursue a DV claim and may call one of the appraisal companies if needed.

 

Little update... Went and had my truck appraised by the Allstate damage assessor. Total damages came to $2207, but that is assuming the paint and scuffs on the driver side predator step bar can be buff/polished off. It may end up being a little more after it's all said and done.

Toyota dealer here is ordering the door skins and they should be in next week.

Out of curiosity, I contacted the Ga Diminished Value appraisers I linked to earlier. Based on their preliminary review, I should be due $1200 in diminished value for my truck!

They offer a $150 desk review and also a $275 on-site review, depending on which the insurance company requires.

I plan to talk to Allstate and see what they are prepared to offer. If the numbers are substantially different, I will be giving GaDV a call once the repairs are completed!

See, it pays to do a little research!!!

I'll keep yall posted on the outcome...

 

On my previous truck I only had it 30 days and was side swiped, I filled diminished value on that truck. It was absolutely when the hassle (which wasn't too bad) because when I went to sell it so I could by my Tacoma I was talking a hit on the trucks value. The lady who hit me had Allstate so that's who I filed dv with. I had to let them know I would be filling before the truck and in for repairs and after the truck was repaired they then assessed the repairs and condition of the truck. I was given an offer, haggled for two days and they had my check in the mail. My trucks total repair cost was $10,200 and my dv check was around $2800. I would pursue it if your state allows, why not? Good luck op.

 

I am in the middle of this process right now! Lady hit me with 700 miles on my truck. Damage was 12000 and dealer quoted me at 4000 diminished value. im sending emails to State Farm, at fault drivers insurance.

 

Its worth it, keep on them until you are happy with the deal they are offering. Good luck!

 

12k denotes substantially more damage than 2200....thus a larger DV payout. Also, keep in mind the appraiser is in the business to make themselves money. They'd tell you it's worth 100k if they thought they could get you to pay their fee.

 

The police report means it will show up on a car fax report. Hit a deer in Texas for over 3 grand in damage didn't report to police no car fax.
Me and wife have both been hit where it was the other guys fault. Dealer would not give minimum wholesale on trade because of police report ended in a car fax accident report. Doesn't matter the damage it is an excuse to screw you on a resale. Take pictures and keep them maybe that will help.
Or plan on keeping your truck until it won't run anymore.

There has been comments to sell it privately and not say anything
Don't go there.

 

Just a little closure for yall...

Allstate initially sent me a check for $680 for diminished value. I spoke with a 3rd party diminished value assessor and they said it should be closer to $1200.

The final repair bill was $3300, 30% more than the initial estimate.

I decided to pay the $100 for the 3rd party DV report and with the increased repair bill, the DV assessor came up with a diminished value of $1757.

They sent me a DV report that I forwarded to Allstate. I just received a letter back from them with a counter offer of $1220!!!

I believe I will accept!!!

 

Looks like that $100 was a sound investment.

 

I think so too! I tried to get Allstate to increase their offer on my own by sending in receipts for the $4500 in aftermarket parts... But they wouldn't consider it without the 3rd party report.

 

I am going through the same thing right now. I got rear ended pretty bad at a red light. The other driver wasn't paying attention, he said he tried to switch lanes but couldn't so switch back into my lane, rear ending my truck at a full 30-40mph. Well about 2600 worth of damage, needs bumper, brackets and new hitch and some paint on rear panel, he went underneath the truck, his van's front end was tore up. I was surprise how strong that trailer hitch was.

Anyhow I am definitely going after diminished value. It's a brand new spanking truck and now this accident has affected it's record. Really pissed me off, considering I was hurt pretty badly too.