Don't use the stupid State Farm 17c formula. It's trash if it's a newer car. Technically, only State Farm is bound by 17c anyway. Dealers usually have pretty good insurance that you can plead your case with. But if the car is more than 8-10 years old or has over 100k-125k on the odometer, don't expect much.
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Diminished value once a car has damage on it's history?
- Thread starter GeauxLSU
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Yep, even though it looked like new, it's 8 years old and 103k. Been fighting with them this morning and I'm done. They offered to install leather in the car if I paid $500. Wait, what? Then they wanted me to buy a new car.
They offered $1,000 above their ridiculous cash offer to trade it in. So basically, they are offering less than zero for diminished value. That was the end of the conversations. Called corporate. Supposed to get call back "within 48 hours". We'll see where it goes from here. But I figure at this point, I'm not losing anything more. I just pray they fixed the thing right....
Once a vehicle has been it's value is vastly reduced. You don't know wether the frame was bent if so was put on a jig and straightened. To many variables. If you could get the damage assessment and price of repair you could guess what type of damage. When I worked in the car business when we valued a trade in we would run our finger along the edges of seams and under the hood and truck lid. We could feel the paint lip from the respray. The. The car would take a massive hit. If your car gets hit and you get it repaired State Farm also issues a diminished value check. What kind of car was it? If you don't mind me asking. Doesn't really matter just trying to value the vehicle.
You also have the right to request factory made replacement parts. If you don't do that you could be getting junk yard parts. They also have aftermarket sheet metal parts that never fit right. So take it to the very best auto body repair place and request factory made replacement parts.
Depending on year and milage you night be lucky they don't total it. Here in Virginia if the vehicle hit has a estimate that exceeds 70 percent of the book value the insurance has the right to total the vehicle out right.
Yep, even though it looked like new, it's 8 years old and 103k. Been fighting with them this morning and I'm done. They offered to install leather in the car if I paid $500. Wait, what? Then they wanted me to buy a new car.
Called corporate. Supposed to get call back "within 48 hours". We'll see where it goes from here. But I figure at this point, I'm not losing anything more. I just pray they fixed the thing right....
Have you or the dealer filed a claim with their insurance company. Dealers try to nickel and dime to avoid insurance claims. If you/they have, who's the insurance carrier?
This is true. They pay outrageous insurance rates and do all that is possible to avoid a claim. Them trying to sell you a car and offering 1000 bucks is typical theiving tactics dealers are known for. Fight like a badger and don't stop until they make good. Did they give the repair estimate or did you take it somewhere else?
Shoot me a pm. I know a lawyer who deals with dimenished value. Gieco offered me 800, i walked away with 4250. He charges a small one time fee and will refund it if you dont come out ahead. He just got my buddy 1500 more than insurance offered just last week. No brainer
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"Supposedly" they didn't file a claim with their insurance, and did it all in house. Who knows what they really did.
It's an Autonation dealer but I'll PM specifics.
I'll shoot you a PM since as mentioned I'm not above spending $2 to make a $1 point if I think someone is being unreasonably obstinate. But I just hung up with Corporate, who basically said "It's completely up to the general manager (who's name neither she, nor I could pronounce) but I will call him and see if y'all can't work something out." I'm not sure what that is supposed to accomplish, but OK....
I'm picking up the car tomorrow and don't expect them to do anything reasonable as what I've already outlined is apparently what they think is reasonable.
Once this is finalized, I'll give out the details in this thread.
