car depreciation after a collision

torpedo2k

$325. He was very professional. Used a paint meter over the entire car and justified his appraisal over about eight pages of documentation. It gives you ammunition to go after the insurance company. In my case it wasn't as big a deal. I just wanted to prove a point to the company that I wasn't going to rollover. If it were 5k+ worth of damage it is probably worth it depending on how big of a jerk the claim rep you are dealing with.

shoopajae10

I see.. thanks for the info.

The claims agent I was dealing with was a PITA. Also, very rude and unprofessional. Due to my experience with him and many other associates and how Progressive handles their business, I will never use their insurance If I'm on the market for one.

PapoZalsa

The insurance has to report the damage to like CarFax, etc., not the repair facility.

So if your are lucky it will not be reported unless is over certain amount of money.

__________________
2009 370Z MB Base w/Sport Package 6MT
Modshack's Custom Air Intakes /3M Clear Bra/ Illuminated Kick Plates / F. I CBE w/12" resonators / EVO-R Front Lip / Rear Hatch Wing / Tein S-Tech Springs /Ilegal Tint in the Rep. of VA/4x20mm Z1 Spacers/ Vinyl Roof/Liquid Carbon Designs

I want a Z

you insurance company should pay you for diminished value

kenchan

sell/trade in the car the moment it's out of the repair shop. chances are the documents are still 'pending' and wont show up. hahaha. my wife's pos corolla smelled paint when i traded that pos in after $5K+ repair. got a super trade-in value. woohoo~

Rui Z

I went to Carmax and they offered me $21,000 for my 40th. They told me it was $4000 less than what it would have been without any accidents. The accident I was in didn't even cause frame damage. Just replacement of the hood, bumper, and passenger front fender. And No, I did not sell them my car. I almost laughed when they offered just $21,000.

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kenchan

wow... $21k crazy. i'd keep your 40th too.

Rooskey

Carfax is good and bad. Are you buying or selling? If you claim your gonna take a hit on your insurance and trade in values. Who cares if your insurance gives diminishing value. You pay the same in the long run anyway. If you can fix a car out of pocket then its obviously a small mishap thats not worth worry about. Or a plus because the next owner has a better paint job. (As long as you dont salvage a total lost car and take advantage of the buyer).

Kenny

as long as it's not salvaged and was repaired properly, it should maintain most of it's pre-accident resale value.

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Urbanracer

I inquired with my insurance company about deminished value, they said that it only applies if you pay for the additional coverage. I found that state law doesn't allow for diminished value claims where I live. There are a few other states that don't allow for these claims too. It might have to do with the fact that Michigan is a No-Fault state.

Link with some info not all specific to Michigan.....
http://www.carinsurance.com/kb/content33391.aspx

How Diminished Value Works....
http://www.carinsurance.com/kb/content10766.aspx