User Panel
User Panel
User Panel
LA, USA
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Posted: 7/2/2024 8:23:30 AM EDT
Well crap the wife and I were coming home from the gym last night and bam. We were the front car in a 3 car crash from some moron trying to get in line. So I have a SRT Durango that was valued at ~55 or 60K now it’s only valued at 20ish?. Besides getting a lawyer is there anyway I can recoup my lost value?
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Posted: 7/2/2024 8:30:43 AM EDT
[#1]
Hello..
Is that your "pay off" on the loan? Did you have GAP insurance? Depending on how your insurance is tailored the policy might only cover what is owed to the bank and not the value of the vehicle. If you were not at fault, and your insurance doesn't fully cover your loss you may have to sue the other drivers insurance company for the remained of your loss. |
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Posted: 7/2/2024 11:00:00 AM EDT
[Last Edit: Jerret_S]
[#2]
Well I would wait until you actually heard back from any insurance company before getting a lawyer. Find your own comps.and compare.
If there are no injuries a lawyer probably isn't needed. If it was a decent hit to your car see a DR. A back or neck injury may take awhile to feel it. Then think about the lawyer. |
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Posted: 7/2/2024 11:17:08 AM EDT
[#3]
When finding a comparable vehicle if yours is totaled include taxes,tag and title. All things you have to buy.Get a repair estimate from a dodge dealer.
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Posted: 7/2/2024 12:32:31 PM EDT
[#4]
Friend of mine sued State Farm over loss of value. He initially won the lawsuit (he did his homework and State Farm under estimated him). But, they appealed AFTER the appeal deadline. Judge allowed the appeal even though it was after the deadline (lawyers hook up other lawyers in violation of state law with no repercussions). Friend talked to a lawyer friend who told him insurance companies will always fight reduced value because it opens a door they want kept closed. So, my friend gave up. His attorney friend told him it probably cost them $50k to fight it up to that point….which is funny because he only wanted a couple thousand more over what they paid to do the repairs (his car was parked legally and someone with State Farm hit his parked car).
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LA, USA
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Posted: 7/4/2024 10:17:36 AM EDT
[#5]
Thanks all; So I guess I do not have ‘gap’ insurance coverage? I payed cash for it new so no note. Update it needs no bondo and all parts will be new. A friend of mine said that the car-fax should reflect this, however I am still concerned that on a trade it will simply say “wreck” and the real facts won’t be brought out. Total damage was 6k. I guess I am just hosed for any deprecated value unless I sue the Jack-ass that hit every body.
Thanks |
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Posted: 7/4/2024 10:50:14 AM EDT
[#6]
Quote HistoryOriginally Posted By toytruckman: Thanks all; So I guess I do not have ‘gap’ insurance coverage? I payed cash for it new so no note. Update it needs no bondo and all parts will be new. A friend of mine said that the car-fax should reflect this, however I am still concerned that on a trade it will simply say “wreck” and the real facts won’t be brought out. Total damage was 6k. I guess I am just hosed for any deprecated value unless I sue the Jack-ass that hit every body. Thanks My Fusion has had 3 animal collisions that were all over $5k damage, all repaired at Ford dealer. None are on Carfax, the dates shown when it was at dealer just say service. |
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Posted: 7/4/2024 1:58:31 PM EDT
[#7]
Quote HistoryOriginally Posted By toytruckman: Thanks all; So I guess I do not have ‘gap’ insurance coverage? I payed cash for it new so no note. Update it needs no bondo and all parts will be new. A friend of mine said that the car-fax should reflect this, however I am still concerned that on a trade it will simply say “wreck” and the real facts won’t be brought out. Total damage was 6k. I guess I am just hosed for any deprecated value unless I sue the Jack-ass that hit every body. Thanks Accidents happen. Be glad he had insurance. Everyone makes mistakes driving. Sounds like you are being made whole. Move on with life and worry about important things. |
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WI, USA
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Posted: 7/4/2024 6:22:47 PM EDT
[Last Edit: Chipper44mag]
[#8]
NEVER use State Farm insurance. They are the worse company to deal with. This is based on 20 years as a auto body tech. Boy we hated working on State Farm insured cars. Used parts, aftermarket, won't pay for this, don't need that etc, whatever game the adjuster could play to save the company money. They don't give a crap about the policy holder.
Yes you will have a insurance claim on the car when you go to sell. Me personally I wouldn't touch a marked titled vehicle. Unless it's super cheap. All you can do is take good pictures, document everything. Hope the next buyer doesn't care. Hard to say how much money it will cost you. If you keep it 10 years and nothing else happens then the wreck maybe won't be as much of an issue. |
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LA, USA
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Posted: 7/5/2024 6:16:16 PM EDT
[Last Edit: toytruckman]
[#9]
Hey Thanks to everyone that replied……….. Last night while parked in the body shop lot, some ‘person’ came crashing through the fence and bammo, totally destroyed the whole driver side of my truck and then drove off. So I am gona push for it to be totaled, cause the shop said it’s on my insurance to fix.
It crushed the body pretty good underneath, the shop was talking cutting out panels and welding new parts in and, the like. I get it they want to make money but I’m gona keep beating the let’s total it drum……Wish me luck. It’s a 20 so close on total I think? I’m not a body guy but I am guessing close to 20K parts and labor. And I think a higher power is telling to get a Hellcat Durango 
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USA
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Posted: 7/5/2024 6:57:58 PM EDT
[#10]
There are companies that will negotiate the loss in value due to the accident on your behalf for a fixed fee.
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USA
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Posted: 7/5/2024 7:01:07 PM EDT
[#11]
Quote HistoryOriginally Posted By toytruckman: ...cause the shop said it’s on my insurance to fix.  Attached FileYeah, that wouldn't be happening... |
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Posted: 7/5/2024 7:03:29 PM EDT
[#12]
My experience.
If the accident was declared to be the fault of an insured driver, yes. We were only offered 10% of the estimated value, prior to the crash though. |
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Posted: 7/5/2024 8:12:14 PM EDT
[#13]
Quote HistoryOriginally Posted By madmacs69: /media/mediaFiles/sharedAlbum/200-816.gif Yeah, that wouldn't be happening... Yes it would and will. Shop is liable if one of their employees damages the vehicle. If an outside person damages the vehicle while parked on the shop lot, it would be on that person. In this case, since the person fled the scene and presumably has not been identified, it’s not the fault of the shop. It’s not the OPs fault either but it will be on his insurance to fix or total it….and sounds like it’s totaled now! Sucks for the poor OP but at least he doesn’t have to worry about reduced value now!! |
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Posted: 7/5/2024 8:24:07 PM EDT
[#14]
Interesting end of the story. I am also going trough this some guy pulled out and t boned me, their fault 100 percent.
Truck is in the shop ATM still haven't settled medical ( no super serious injuries but some stiffness for about a month) Going to try to get some kind of dismissed value. My truck is a 21 ranger that I was thinking a out trading in a couple years but I expect I'm going to get hosed by resale now. |
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LA, USA
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Posted: Yesterday 10:16:59 AM EDT
[#15]
Quote HistoryOriginally Posted By ColtRifle: Yes it would and will. Shop is liable if one of their employees damages the vehicle. If an outside person damages the vehicle while parked on the shop lot, it would be on that person. In this case, since the person fled the scene and presumably has not been identified, it’s not the fault of the shop. It’s not the OPs fault either but it will be on his insurance to fix or total it….and sounds like it’s totaled now! Sucks for the poor OP but at least he doesn’t have to worry about reduced value now!! Ha so yes this is the correct answer… We do have a Lawyer appointment . This coming week to explore options, it seems like I don’t have too many, except to see if I can get it totaled. Thanks All. |
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LA, USA
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Posted: Today 3:41:34 PM EDT
[#16]
Ok so U guys are smart….. How much does the cost of an accident have to be in % of value before U can get said vehicle totaled? Like if the repairs on my second crash are say 30K and KBB says it’s only worth 45K is that enough????
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WA, USA
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Posted: Today 5:01:20 PM EDT
[Last Edit: Teddydog]
[#17]
When a dude driving a county-owned vehicle on work time hit my wife in our RAV, there was a crapload of damage. Over $17k in repairs, but it was fully repaired on their dime. I paid a company about $4-500 to write up a diminished value claim with number, then submitted it to the county myself. They paid for the D.V., but not what I paid the company (they claimed they didn't tell me I needed to hire an expert for the claim, so that was on me). I think it was about $5k in D.V.
My vehicle has been repaired from the accident on January 26, 2021. I am satisfied with the repairs. I have had my vehicle evaluated by a Diminished Value professional to determine its loss in resale value due to the accident caused by your employee. My vehicle has a diminished value loss of $4,887.46 (report enclosed). At this time I am requesting payment for my Diminished Value loss, the $475 cost of the report, reimbursement of $250 insurance deductible and $574.92 for loss of use of my vehicle during repairs ($2,100.01 total minus $1,525.09 covered by USAA). To finalize and conclude my Diminished Value and Expenses claim, please respond within ten (10) days from the date of this letter with full payment of $6,187.38. I ask that you respond in writing only. I ran a Car Vertical report on the car last year (over 2 years after the accident) and it didn't show the accident at all. But the CV report didn't show shit really and the car has always been dealer serviced. I think CV sucks donkey dong (and that wasn't my only experience with them). rob |
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OR, USA
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Posted: Today 5:52:08 PM EDT
[Last Edit: maslin02]
[#18]
Quote HistoryOriginally Posted By toytruckman: Ok so U guys are smart….. How much does the cost of an accident have to be in % of value before U can get said vehicle totaled? Like if the repairs on my second crash are say 30K and KBB says it’s only worth 45K is that enough???? 70-80% seems normal these days. If the car was worth $45k, totalled is around $32-35k in repairs. If you're hoping to get it totalled you want to avoid pointing out any premium that model carries, let the KBB or whatever tool they use come up with a number. On the flip side, you'll have a hard time making an argument for being a special model after that. Double-edged sword there. |
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TN, USA
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Posted: Today 11:24:12 PM EDT
[#19]
Quote HistoryOriginally Posted By ColtRifle: Accidents happen. Be glad he had insurance. Everyone makes mistakes driving. Sounds like you are being made whole. Move on with life and worry about important things. |
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