Diminished Value?????

I didn't know you could collect for the reduced market value of your car
after an accident repair, but the articles at www.claimsreporter.com say you
can. I know most people will not buy a car with a bad Carfax unless it's
offered at a big discount. Anyone else know about this stuff?

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The only way to have a friend is to be one.
Ralph Waldo Emerson

Most threads I have seen on diminished value usually end with the thoughts
that you can only prove diminished value when you actually sell it, and
usually not then unless you have appraisals of the car before and after.
Still, until you sell the car, you have not lost anything.


"A Reader" > wrote in message
news:jQJOh.5325$8l2.2294@trnddc01...
>I didn't know you could collect for the reduced market value of your car
>after an accident repair, but the articles at www.claimsreporter.com say
>you can. I know most people will not buy a car with a bad Carfax unless
>it's offered at a big discount. Anyone else know about this stuff?
>
> --
> Change signature
>
> The only way to have a friend is to be one.
> Ralph Waldo Emerson
>

Originally Posted by A Reader

I didn't know you could collect for the reduced market value of your car
after an accident repair, but the articles at www.claimsreporter.com say you
can. I know most people will not buy a car with a bad Carfax unless it's
offered at a big discount. Anyone else know about this stuff?

--
Change signature

The only way to have a friend is to be one.
Ralph Waldo Emerson

There are a lot of misconceptions about diminished value and some of the information at ClaimsReporter is incorrect. For example, if you want to file a claim for diminished value, most insurers will not accept the valuations of auto dealers. Because they knowingly play with the numbers to make deals, dealers have little credibility. Likewise, DV companies on the internet that offer you values without inspecting your repaired car are useless. For correct information on diminished value, visit the diminished value slideshow at http://www.safecollisionrepairs.com/...how/index.html. You'll find a lot of other information there that may help you as well.

David Williams

"A Reader" > wrote in message
news:jQJOh.5325$8l2.2294@trnddc01...
---snip some---
> I know most people will not buy a car with a bad Carfax
> unless it's offered at a big discount. Anyone else know
> about this stuff? --


Carfax is useless...
I got one before I bought my 84.
the report seemed to be a good report.
after I bought the car, I noticed that it had been in a
wreak
It was repaired quiet well but, never the less, it was
wreaked.

my2¢ on Carfax
--
"Key"
=====

A couple of years ago I sold a 1987 Pontiac Fiero that was listed as a total
wreck..salvage titled car.. got a new legal clean title after I repaired
it.. Sold it to a Fireo nut and he said he had checked the carfax and it
came up as no record of accidents..GO FIGURE..!!!!

Originally Posted by Tom in Missouri

Most threads I have seen on diminished value usually end with the thoughts
that you can only prove diminished value when you actually sell it, and
usually not then unless you have appraisals of the car before and after.
Still, until you sell the car, you have not lost anything.

http://www.safecollisionrepairs.com/...in_media.shtml

Diminished Value often get a bum rap in the media because on so many forums, people with no real knowledge of the subject can respond to posts that keep the mistruths in motion. In fact, insurance companies keep people on staff just to troll these forums and make posts to discourage people from filing claims and keep payouts as low as possible. I recently took on this subject in an article I wrote. You can read it by clicking the link above.

The truth is, you don't have to sell your car or wait to collect for a diminished value claim. If the insurance company accepted liability for the accident, they owe for all of the loss, not part of it. Diminished value is not a separate claim, rather an extension of the same claim that pays for replacement of bent fenders etc.

In my younger years, I had an issue over some drag racing, and got an arrest
record.

In applying for a job requiring security clearances not long after, a
background was run and I dutifully listed it. In the report on me, there
was no record of my record.

If they can't find stuff like that on security clearances, what makes you
think car records would be better? Carfax is known to have many issues with
missing important information.


"Wolfman" > wrote in message
nk.net...
>A couple of years ago I sold a 1987 Pontiac Fiero that was listed as a
>total wreck..salvage titled car.. got a new legal clean title after I
>repaired it.. Sold it to a Fireo nut and he said he had checked the carfax
>and it came up as no record of accidents..GO FIGURE..!!!!
>

Tom in Missouri wrote:
> In my younger years, I had an issue over some drag racing, and got an arrest
> record.
>
> In applying for a job requiring security clearances not long after, a
> background was run and I dutifully listed it. In the report on me, there
> was no record of my record.
>
> If they can't find stuff like that on security clearances, what makes you
> think car records would be better? Carfax is known to have many issues with
> missing important information.
>

As I understand it, Carfax is a voluntary program, not a law. It
involves participating
insurance companies, repair shops, and dealerships.
If a car is repaired by a shop that doesn't participate, and/or the
repairs are
authorized by an insurance company that doesn't participate, then
nothing shows up on Carfax.

Since I have been around here long enough for most to know me, I doubt
anyone thinks I'm an insurance troll.

I have been on several forums where people have had original untouched cars
that were wrecked and they were unsuccessful at getting a diminished value
award. First, they can't prove the amount. Is it $5000 less or is it
$25,000 less? And until it sells, how do we really know?

I agree, you should be able to say that my original survivor 1966 with
original paint, original panels, etc. that has the front end ripped off has
now just lost a huge amount of its value, but what is the price figure? And
after it is restored, is the price really different?

For a real life check on this, go over to the Corvette Forum and look up
Tyler Townsley who just had his original '66 hit about two months ago and
the front end torn off. The new jigged press molded front is no where near
the same, so the value has to be less, but he hasn't and won't collect for
that.

My experience with insurance has been you are usually lucky if you can get
the full payment of the repairs. To get the diminished value also is like
hoping to find all 6 numbers matching on your lottery ticket. Insurance
companies can all go broke for all I care, no apologies given.

BTW, I can't get your link to open.


"David Williams" > wrote in message
news
>
> Tom in Missouri;612504 Wrote:
>> Most threads I have seen on diminished value usually end with the
>> thoughts
>> that you can only prove diminished value when you actually sell it, and
>>
>> usually not then unless you have appraisals of the car before and
>> after.
>> Still, until you sell the car, you have not lost anything.
>>
>
>
> http://tinyurl.com/yvm8t9
>
> Diminished Value often get a bum rap in the media because on so many
> forums, people with no real knowledge of the subject can respond to
> posts that keep the mistruths in motion. In fact, insurance companies
> keep people on staff just to troll these forums and make posts to
> discourage people from filing claims and keep payouts as low as
> possible. I recently took on this subject in an article I wrote. You
> can read it by clicking the link above.
>
> The truth is, you don't have to sell your car or wait to collect for a
> diminished value claim. If the insurance company accepted liability
> for the accident, they owe for all of the loss, not part of it.
> Diminished value is not a separate claim, rather an extension of the
> same claim that pays for replacement of bent fenders etc.
>
>
>
>
> --
> David Williams

Originally Posted by Tom in Missouri

Since I have been around here long enough for most to know me, I doubt
anyone thinks I'm an insurance troll.

I have been on several forums where people have had original untouched cars
that were wrecked and they were unsuccessful at getting a diminished value
award. First, they can't prove the amount. Is it $5000 less or is it
$25,000 less? And until it sells, how do we really know?

I agree, you should be able to say that my original survivor 1966 with
original paint, original panels, etc. that has the front end ripped off has
now just lost a huge amount of its value, but what is the price figure? And
after it is restored, is the price really different?

Coming up with a value is what experts are for. Some states even stipulate the sources that must be used to determine the value. There are ways. We do it everyday.

BTW, I can't get your link to open.

> http://tinyurl.com/yvm8t9

If this is the link to which you refer, I didn't post it.