Car Hit - Diminished Value Question
06-15-2009, 03:51 AM
#31
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Originally Posted by advancedlogic' post='910906' date='Jun 13 2009, 10:06 PM
I likie!!! That was a beautifuly plausible (and entirely accurate) rebuttal - brought me to tears lol! I stand pleasantly corrected (and educated) 
06-15-2009, 05:02 AM
#32
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Talked to a friend this weekend about this issue (Manager of Toyota dealership for about 10 years). He pretty much backed everything I was saying before. Minor body work issues aren't going to effect the value 95% of the time. He said on avg. around 35% of the cars that they take in on trade(older then about 5 years) have had some type of paint work done on them in there lifetime. When they look over the car they can tell if it was minor or an actual accident that caused fenders, doors, etc. to be replaced. He said if its bumper cover replaced or resprayed it does nothing to the trade in value. If you live in a big city its pretty hard to drive your car for a few years and not get a scuff on the rear or front bumper was his example.
I asked how much value they put in a Carfax report and he said they use it mainly to verify a clean title. He said when they do list body repair they usually reexam the car again. There trained people once again can pretty much pinpoint what was done. If they feel it was nothing but a minor repair then they usually let it slide. If the buyer are kind of bulking on the trade in price they'll bring it up. But like I was saying before the value there showing is the same either way on something minor.
When I told him your damage was around 2K and the little head rest bags came out. He thought that 1.5K of the fix chances are just in the headrest replacement. I asked about diminished value on it and he said he isn't a lawyer but would find it quite hard/not worth the time or money for a lawyer to argue it on something as minor as your inciddent. He kind of thought even if you won or settle the case that the money you'd be awarded be so minimal that it won't even be worth anyones time to deal with it.
Your issues so you got to decide what to do in the end. But I won't expect much of anything out of it even if you won a settlement.
I asked how much value they put in a Carfax report and he said they use it mainly to verify a clean title. He said when they do list body repair they usually reexam the car again. There trained people once again can pretty much pinpoint what was done. If they feel it was nothing but a minor repair then they usually let it slide. If the buyer are kind of bulking on the trade in price they'll bring it up. But like I was saying before the value there showing is the same either way on something minor.
When I told him your damage was around 2K and the little head rest bags came out. He thought that 1.5K of the fix chances are just in the headrest replacement. I asked about diminished value on it and he said he isn't a lawyer but would find it quite hard/not worth the time or money for a lawyer to argue it on something as minor as your inciddent. He kind of thought even if you won or settle the case that the money you'd be awarded be so minimal that it won't even be worth anyones time to deal with it.
Your issues so you got to decide what to do in the end. But I won't expect much of anything out of it even if you won a settlement.
06-15-2009, 05:58 PM
#33
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Originally Posted by skylolow' post='911983' date='Jun 15 2009, 08:02 AM
Talked to a friend this weekend about this issue (Manager of Toyota dealership for about 10 years). He pretty much backed everything I was saying before. Minor body work issues aren't going to effect the value 95% of the time. He said on avg. around 35% of the cars that they take in on trade(older then about 5 years) have had some type of paint work done on them in there lifetime. When they look over the car they can tell if it was minor or an actual accident that caused fenders, doors, etc. to be replaced. He said if its bumper cover replaced or resprayed it does nothing to the trade in value. If you live in a big city its pretty hard to drive your car for a few years and not get a scuff on the rear or front bumper was his example.
I asked how much value they put in a Carfax report and he said they use it mainly to verify a clean title. He said when they do list body repair they usually reexam the car again. There trained people once again can pretty much pinpoint what was done. If they feel it was nothing but a minor repair then they usually let it slide. If the buyer are kind of bulking on the trade in price they'll bring it up. But like I was saying before the value there showing is the same either way on something minor.
When I told him your damage was around 2K and the little head rest bags came out. He thought that 1.5K of the fix chances are just in the headrest replacement. I asked about diminished value on it and he said he isn't a lawyer but would find it quite hard/not worth the time or money for a lawyer to argue it on something as minor as your inciddent. He kind of thought even if you won or settle the case that the money you'd be awarded be so minimal that it won't even be worth anyones time to deal with it.
Your issues so you got to decide what to do in the end. But I won't expect much of anything out of it even if you won a settlement.
I asked how much value they put in a Carfax report and he said they use it mainly to verify a clean title. He said when they do list body repair they usually reexam the car again. There trained people once again can pretty much pinpoint what was done. If they feel it was nothing but a minor repair then they usually let it slide. If the buyer are kind of bulking on the trade in price they'll bring it up. But like I was saying before the value there showing is the same either way on something minor.
When I told him your damage was around 2K and the little head rest bags came out. He thought that 1.5K of the fix chances are just in the headrest replacement. I asked about diminished value on it and he said he isn't a lawyer but would find it quite hard/not worth the time or money for a lawyer to argue it on something as minor as your inciddent. He kind of thought even if you won or settle the case that the money you'd be awarded be so minimal that it won't even be worth anyones time to deal with it.
Your issues so you got to decide what to do in the end. But I won't expect much of anything out of it even if you won a settlement.
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