Need help with getting compensated for diminished value...

[MagicMan]

I went to 2 Mazda dealers to get an estimate on how much less my MS6 would be worth with the damage. I obviously wanted a $ for after the damaged was fixed. Neither dealer would offer me an appraisal.

Of course the #######'s insurance company is going to fight me tooth & nail on this. They told me I need to send in something in writing and get with my leasing company. The leasing company has nothing to do w/this. I planned to buy it at the end of the lease.

So I need to know how I can go about finding out just how much less the car will be worth after this amount of damage so I have some sort of numbers to shove in the face of these ###### @ the insurance company & anything else I need to do to get compensated for this.

[derrinx]

no idea... good luck

[sgt0704]

kelly blue book?

[MagicMan]

kelly blue book?

That doesn't tell me how much less the car is worth after an accident...

[whitelightnin99]

maybe someone at progressive nobody can tell you without looking at it so i would think it would have to be some sort of claims guy

[third_shift|studios]

if the car isnt' totalled the accident really should effect it's worth; besides, a car's only worth what someone else will pay for it.

are you trying to get the price of your car reduced so you don't have to pay as much due to your accident? I'm just not sure why you're looking for these answers?

[MagicMan]

if the car isnt' totalled the accident really should effect it's worth; besides, a car's only worth what someone else will pay for it.

are you trying to get the price of your car reduced so you don't have to pay as much due to your accident? I'm just not sure why you're looking for these answers?

It's not worth less, eh?

So you'd pay the same for a car that has had $5k+ worth of damage form an accident as a car that has never been wrecked? If you say yes you're lying...

[sgt0704]

That doesn't tell me how much less the car is worth after an accident...

Tough guy,

if you go to KBB. you can find out what the value for it in pre accident condition was.. then, you can go in, and find out how much it's worth being fucked up. i.e. good, fair, poor, etc...

that will give you an idea of how much you could expect to loose in value.

[MagicMan]

Tough guy,

if you go to KBB. you can find out what the value for it in pre accident condition was.. then, you can go in, and find out how much it's worth being fucked up. i.e. good, fair, poor, etc...

that will give you an idea of how much you could expect to loose in value.

KBB doesn't even list my car ya know.

[gwballin]

if the car isnt' totalled the accident really should effect it's worth; besides, a car's only worth what someone else will pay for it.

I have to disagree with your first point. Put two identical cars next to each other, the only difference is that one was involved in an accident (then repaired perfectly). The one involved in the accident, all other things being equal, will be worth less and you can be compensated through insurance for the decrease in value.

To magicman, even though you planned on buying the car at the end of the lease, you do not own the car now so why should you be compensated for the decrease in value of an asset that you do not own?

[ARM5280]

In most states if there has been an accident that it cost 25% or more to repair you have to disclose to any potential buyer. I know there is even a slot on the title transfer paperwork for such disclosure. The comment that it should be worth the same is just retarded, why else is carfax so important. in a perfect world you would be correct because the repairs would be "perfect"

You are entitled to compensation from the insurance company it is something that they wont bring up or offer in most cases without you inquiring. An easy formula is 1/2 to a 1/3 of the cost of repairs. So five grand bill you should recieve 1600 to 2500 in lost value compensation. If you get nothing it will kick your ass when it is time to say goodbye to said vehicle.

If you really want to get a real figure take it to 2 dealerships and act as if you are trading it in tell one of the damage and not the other. Then see what the difference is. Keep in mind it is a dealership and most are crooks so the formula may work better.GOOD LUCK

[jrc1122]

i had 10k in damage it a 2004 Nissan Sentra SER-SpecV-- (new the car costs about 18k I believe) -- (It was a lease too)

they didn't total it (to my suprise) and when I traded it in, they didn't even ask if it had been in an accident.

So I lost "nothing" more than the normal ass raping of trading in a fairly new car.

I traded in a Toyota MR2-Spyder (2000) for my WS6. They asked about wrecks. I said, since i have had it, I had a minor accident, which I needed to replace the fender and hood, and bumper..

They tried to say that it was going to be tough to sell,, but in the end they gave me like 200 less than KBB trade in value. (Big deal)--- and that was about 4k in damages. (not really, most of that was labor and paint).

Bottom line -- on a car that is that new. Just be honest, when/ if you go to trade it in tell them it has been in a "minor accident" (because almost all accidents cost a few grand these days) and move on. You should lose very minimal if any.

[MagicMan]

After not getting a call back from his insurance company (shocking) I called again today & was told I need to put in writing that I want to be compensated for DV. I'll be sending a nice little letter to them.