Hey Oppo, how common is “loss of value” after an accident?

"BrianGriffin thinks “reliable” is just a state of mind" (briangriffinsprius) 07/04/2018 at 20:45 • Filed to: None

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Short version: the back of my Golf got squished by someone who didn’t stop at a red light. Their insurance is being great, paying for all repairs, etc.

Now, since my car is a recent VW (2016), I know that it’s only worth about as much as a family sized bag of potato chips should I ever decide to trade it in. No really, my ~$28 k MSRP (I paid $22k) two year old car has a blue book value of $10k. Butttt...after an accident has been recorded, I want to make sure it’s not worth less than a snack-sized bag of potato chips.

Anyone have success with a diminished value claim?

DipodomysDeserti > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 20:55

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If an accident pops up on carfax, it’ll definitely be worth less when selling private party. A dealership will pay you less for it no matter what, so it won’t affect that too much.

Dr. Zoidberg - RIP Oppo > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 20:56

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1. Good to hear you’re okay. Please see a doctor anyway.

2. I think those claims are easier to make on vehicles worth significantly more. Would be interesting to hear cases reagarding "regular" cars.

dogisbadob > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 21:00

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It’s 100% common

Glad you’re ok tho

jimz > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 21:05

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it depends on the extent of the damage.  if it’s minor (under $2k) it shouldn’t have much effect.  

gettingoldercarguy > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 21:16

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It will have an impact on value.  Find a consumer attorney to decide if it's worthwhile to pursue.  You need an attorney for this.

CarsofFortLangley - Oppo Forever > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 21:18

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It’s really, really tough man. 

Ash78, voting early and often > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 21:34

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Ask your insurance to pursue it fiercely. You might even have to get a couple appraisals (Carmax, etc) because diminution of value can also hinge on how good the repair work is. 

TheRealBicycleBuck > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 21:44

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It’s a common  claim, but good luck getting them to pay it. Out of four wrecks, I have yet to have a successful claim. My only recourse was small claims court and it wasn’t worth the time and effort. 

gettingoldercarguy > Dr. Zoidberg - RIP Oppo 07/04/2018 at 21:47

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Easier to claim when you have an attorney and you've been rear ended.  I've never paid more for a car that's been wrecked, only less.  No matter what.

BrianGriffin thinks “reliable” is just a state of mind > CarsofFortLangley - Oppo Forever 07/04/2018 at 21:55

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That’s what I heard. The agent at my insurance company even said something to the effect of “well, you can try, but...good luck”. 

CarsofFortLangley - Oppo Forever > BrianGriffin thinks “reliable” is just a state of mind 07/04/2018 at 22:04

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I’m an adjuster.  Yeah, pretty much

RPM esq. > BrianGriffin thinks “reliable” is just a state of mind 07/05/2018 at 00:25

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100% of the time 

Monkey B > BrianGriffin thinks “reliable” is just a state of mind 07/05/2018 at 09:45

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I was able to do this in 2013 with a 2012 Focus. Got something like $1400. Go to 3 dealers, get a trade in quote with the Carfax black eye and one without. If the numbers jive you should get paid. If I recall correctly they said Georgia is the only state where this is a law and more common to receive .