Nissan 370Z Forum - View Single Post

nismo2evox · 01-27-2016, 08:53 AM

Hi There,

I just skimmed trough the other posts but had a similar situation with my Father's Porsche Panamera GTS.

He got rear ended with 200 miles and we tried to figure out how to get a diminished value claim.

Short answer - You generally can not get a diminished value claim unless you sell the car. The reason being is the diminished value is the difference between what your car is worth for sale without any damage and the difference when factoring in the damage/car fax report is the "diminished value".

However, if you can get the dealer to buy it back for whatever price they offer you and can convince the insurance company it is a new car and to set the diminished value payment equal to the difference you might have a shot, but it is highly unlikely. Primarily because they may say that as soon as you drove it off the lot (Especially with a Z) it has depreciated astronomically and the diminished value difference wouldn't be worth it.

If your car is long used and this happened it may be a different story though.

Sorry about the situation, I know how frustrating it is. Best of luck and let us know how you make out.

01-27-2016, 08:53 AM	#32 (permalink)
nismo2evox Base Member Join Date: Mar 2013 Location: Boston Posts: 39 Drives: Evo X Rep Power: 12	Hi There, I just skimmed trough the other posts but had a similar situation with my Father's Porsche Panamera GTS. He got rear ended with 200 miles and we tried to figure out how to get a diminished value claim. Short answer - You generally can not get a diminished value claim unless you sell the car. The reason being is the diminished value is the difference between what your car is worth for sale without any damage and the difference when factoring in the damage/car fax report is the "diminished value". However, if you can get the dealer to buy it back for whatever price they offer you and can convince the insurance company it is a new car and to set the diminished value payment equal to the difference you might have a shot, but it is highly unlikely. Primarily because they may say that as soon as you drove it off the lot (Especially with a Z) it has depreciated astronomically and the diminished value difference wouldn't be worth it. If your car is long used and this happened it may be a different story though. Sorry about the situation, I know how frustrating it is. Best of luck and let us know how you make out.