Welcome to the North American Subaru Impreza Owners Club Saturday April 19, 2014
Home Forums WikiNASIOC Products Store Modifications Upgrade Garage
NASIOC
Here you can view your subscribed threads, work with private messages and edit your profile and preferences Home Registration is free! Visit the NASIOC Store NASIOC Rules Search Find other members Frequently Asked Questions Calendar Archive NASIOC Upgrade Garage Logout
Go Back   NASIOC > NASIOC General > General Community

Welcome to NASIOC - The world's largest online community for Subaru enthusiasts!
Welcome to the NASIOC.com Subaru forum.

You are currently viewing our forum as a guest, which gives you limited access to view most discussions and access our other features. By joining our community, free of charge, you will have access to post topics, communicate privately with other members (PM), respond to polls, upload content and access many other special features. Registration is free, fast and simple, so please join our community today!

If you have any problems with the registration process or your account login, please contact us.
* Registered users of the site do not see these ads.
Reply
 
Thread Tools Display Modes
Old 12-05-2013, 06:50 PM   #1
shfifty5
Scooby Newbie
 
Member#: 350345
Join Date: Mar 2013
Location: Metairie, LA
Vehicle:
2014 WRX 5 Door
DGM

Default Diminished value claim?

So does anyone have any experience with this? I was recently in a wreck in a 2014 dgm wrx hatch, not my fault. I had the car for two weeks prior and had not even paid my first payment. I am filing a diminished value claim and was asked for some kind of documentation showing my cars value has diminished. There was $8500 in damage between the rear bumper, and front right corner of the car. How should I go about coming up with a number?
* Registered users of the site do not see these ads.
shfifty5 is offline   Reply With Quote
Old 12-05-2013, 06:55 PM   #2
Yoshi_XD
Scooby Newbie
 
Member#: 358265
Join Date: Jun 2013
Chapter/Region: NWIC
Vehicle:
2013 WRX Hatch
Dark Grey Metallic

Default

I looked into this a while back, and you're supposed to take it to an estimator. They look at the quality of the parts and repairs and appraise how much the value would compare to a car that never had to be fixed in the first place.
Yoshi_XD is offline   Reply With Quote
Old 12-06-2013, 10:42 AM   #3
King276
Scooby Newbie
 
Member#: 130151
Join Date: Oct 2006
Default

I just had this done. The at fault driver had State Farm. I had an appraisal done and provided it to his insurance company. Once they received it, they sent a release for me to sign. Then I received the check for the full value on the appraisal plus the cost of the appraisal a few days later.

I used these guys for the appraisal.

http://diminishedvaluebureau.com/

I was a little skeptical about doing this online, but it went quite smoothly.
King276 is offline   Reply With Quote
Old 12-06-2013, 11:06 AM   #4
shfifty5
Scooby Newbie
 
Member#: 350345
Join Date: Mar 2013
Location: Metairie, LA
Vehicle:
2014 WRX 5 Door
DGM

Default

Thanks man. I will try them out
shfifty5 is offline   Reply With Quote
Old 12-06-2013, 04:33 PM   #5
BlueberryStrudel
Scooby Newbie
 
Member#: 316141
Join Date: Apr 2012
Location: Asheville, NC
Vehicle:
2012 WRX 5dr Base
SWP

Default

I went through the same thing with my 2012 WRX, around ~$8,000 in damages. The at-fault driver had GMAC Insurance (I had never heard of them).

I got an appraisal at my dealer and after going back and forth with his agent for a few weeks, I ended up getting only around 1/3 of the appraisal difference ($2,000 out of around $6,000). Their argument was: unless I was going to sell the car at that very point in time, it was impossible to predict the diminished value for the future and that the difference in value would only decrease over time.

Perhaps I could have fought it more, but I didn't know what else to do at that time....oh well...
BlueberryStrudel is offline   Reply With Quote
Old 12-06-2013, 04:39 PM   #6
madlife
Scooby Newbie
 
Member#: 136612
Join Date: Jan 2007
Chapter/Region: Tri-State
Location: Fayetteville, NY
Vehicle:
2002 WRX
SRP

Default

What is this for? Basically saying your car is worth less because someone hit it, and it now has an accident on record {not totaled}; even though it has been fixed by a shop

If so, I never heard of such a thing, but it would be good to keep in mind.
madlife is offline   Reply With Quote
Old 12-06-2013, 04:50 PM   #7
Loyale93
Scooby Guru
 
Member#: 91347
Join Date: Jul 2005
Chapter/Region: NESIC
Location: Medford, MA
Vehicle:
'13 XV Crosstrek,
1050 Triumph Speed Triple

Default

Do a search for the word "Diminished". You'll find countless threads on this:

http://forums.nasioc.com/forums/show....php?t=2496646
http://forums.nasioc.com/forums/show....php?t=2473776

Here's two to get you going.
Loyale93 is offline   Reply With Quote
Old 12-06-2013, 05:05 PM   #8
StateKDizzy
Scooby Newbie
 
Member#: 335422
Join Date: Oct 2012
Chapter/Region: SCIC
Location: Camp Pendleton
Vehicle:
2013 STi Sedan
White

Default

Same happened to my 2013 STI. Some hill billy in a lifted Chevy didn't know how to pull out of a parking spot and ripped my front bumper off my car. His insurance covered all the repairs 100% I paid $125 to a estimator and appraised my diminished value at around $3100. Sent it in to State Farm. Got the check in the mail a week and a half later for the full value. Never even hit the car fax report.
StateKDizzy is offline   Reply With Quote
Old 12-06-2013, 05:18 PM   #9
Wrxguy11
Scooby Newbie
 
Member#: 274881
Join Date: Feb 2011
Chapter/Region: NWIC
Location: Puyallup
Vehicle:
2011 Wrx
Black

Cool

Quote:
Originally Posted by StateKDizzy View Post
Same happened to my 2013 STI. Some hill billy in a lifted Chevy didn't know how to pull out of a parking spot and ripped my front bumper off my car. His insurance covered all the repairs 100% I paid $125 to a estimator and appraised my diminished value at around $3100. Sent it in to State Farm. Got the check in the mail a week and a half later for the full value. Never even hit the car fax report.
Nice
Wrxguy11 is offline   Reply With Quote
Old 12-06-2013, 07:46 PM   #10
jiGGypiGGy
Scooby Newbie
 
Member#: 271097
Join Date: Jan 2011
Chapter/Region: SCIC
Vehicle:
2014 Evo Gsr
wicked white

Default

Diminished value claim? is typically for items with a lot of value, say like a 1958 Ferrari 258 California Spyder.

then if you got hit and rather then being able to replace it with a car of common value you would be able to claim D.V. based on the fact a car cant never be sold again at its current value. since you could never buy another comparable car.

it hard to claim this on late models because you can always find comparable cars on the market, and don't mistake depreciation for diminished value. that's what gap insurance is for.
jiGGypiGGy is offline   Reply With Quote
Old 12-06-2013, 09:35 PM   #11
Asinine
Sufficiently Snarky
 
Member#: 55173
Join Date: Feb 2004
Chapter/Region: MAIC
Location: I beat up big rocks
Vehicle:
with paddles.

Default

Quote:
Originally Posted by jiGGypiGGy View Post
Diminished value claim? is typically for items with a lot of value, say like a 1958 Ferrari 258 California Spyder.

then if you got hit and rather then being able to replace it with a car of common value you would be able to claim D.V. based on the fact a car cant never be sold again at its current value. since you could never buy another comparable car.

it hard to claim this on late models because you can always find comparable cars on the market, and don't mistake depreciation for diminished value. that's what gap insurance is for.
You don't have a clue what you're talking about. Like the others in this thread, I have first hand experience on this.

2010 G37 had only 1800 miles on it when some dips*** rear ended me at 40mph. Did $16k in damage. If it weren't a brand new G37 it would have been totaled. But the other kid's insurance opted to pay to repair. Estimator said $8k hit to the resale value. His insurance cut me a check for $5k. If I had it to do over again I would have taken them to court for the full $8k.
Asinine is offline   Reply With Quote
Old 12-07-2013, 09:31 PM   #12
shfifty5
Scooby Newbie
 
Member#: 350345
Join Date: Mar 2013
Location: Metairie, LA
Vehicle:
2014 WRX 5 Door
DGM

Default

Thanks guys, I got in touch with an estimater over here in New Orleans and was told he would give me an estimate of what the car was worth compared to what is was worth before I drove it off the lot and ask for that amount. He said he would take his estimate to court if I wanted to take it that far. He has been doing this for 10 years and definitely seems like he is legit. Ill be getting the quote next week and sending it to the bitch that hit me's insurance. Ill keep this thread updated if for anyone else that gets in this ****ty situation.
shfifty5 is offline   Reply With Quote
Old 12-07-2013, 09:36 PM   #13
Amazing Asian
Scooby Specialist
 
Member#: 259589
Join Date: Oct 2010
Chapter/Region: NWIC
Location: Port Orchard, WA
Vehicle:
05 Saabaru 9-2X
Deep Blue Metallic

Default

+1 to diminished value. Wife had her 2012 Kia Forte SX Hatch be hit, purchased brand new. Got $8k in cash from suing the other party for diminished value on it. This is why you pay your deductible and have your insurance fight them, so you don't have to do anything besides accepting a check

If your dealer allows, you can have them bring in an estimator since the dealer was the one that saw it in the condition it was in before the accident. That's what we did.
Amazing Asian is online now   Reply With Quote
Old 02-21-2014, 12:21 AM   #14
shfifty5
Scooby Newbie
 
Member#: 350345
Join Date: Mar 2013
Location: Metairie, LA
Vehicle:
2014 WRX 5 Door
DGM

Default

Ended up settling with the insurance company for 2,700 for the diminished value claim...looks like its time to start modding!!!
shfifty5 is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 08:09 PM.


Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Powered by Searchlight © 2014 Axivo Inc.
Copyright ©1999 - 2014, North American Subaru Impreza Owners Club, Inc.