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I recently was involved in a wreck. My 5 month old Challenger was rather rudely rearended on a major highway by an inatentive driver. The other driver's insurance has already accepted liability and the car is in the shop for the next 27 days. She took the impact very well but everything south of the gas cap will need repair.
:scratchhead: Here is the question: Can I request monetary damage for depreciation of the car? Actually I know I can request anything, the issue is can I expect compensation for depreciation? As available as car fax is, who is going to pay top dollar for a car that has been wrecked and reapired as opposed to a car that has never been wrecked? Anyone have experience with this?

Thanks in advance.
 

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The answer to your question is yes, you are entitled to a diminished value claim. I just did it with one of my cars 6 months ago. You have to contact the persons insurance company and notify them that you want to do a diminished value claim. Most insurance companies try to get around it, but you will need to wait until the repairs are complete. They will need to have an independent appraiser look at your vehicle, and you can also hire your own it cost me $300.00 for my own appraiser. The appraiser provides the report and they will make you an offer based on the report. They started at 2,000.00 with their offer I got 5,500.00 for my car don't take the first offer.
 

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What you want to research is under the term "diminished value" to see if that is applicable in your state (Texas), as the laws vary from state to state.

One of the members on this forum (2008 Orange) went through a collision and did some research into that matter - her car went through significant body work, and all came out well with the car afterward.

However, any major post-collision repair would likely appear on a Carfax report, and the subsequent hit of potential value could be a concern down the road with resale or trade value, etc.
 

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Thanks Fellas, Texas is a diminished value state. I really appreciate the info. I had no idea where to start, now I do.

Thanks again. :bigthumb:
 

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I wish I had known about this. I had a 2006 Mazda6 that hit a deer, and popped the ds airbag. No frame damage, and I shoved the bag back in the wheel and drove it home. It had 12,000 miles on it, so I had it fixed with all factory parts, no expense spared. Went to trade it in on my Challenger with 33,000 miles on it, and the dealer slammed me! Started offering me about half of Black book trade, all because CarFax showed a bag deployed. Pissed me off. It took me literally hours of negotiating to get them even close to a fair value (on a 2010 RT I bought over Thanksgiving 2010), and my car was extremely clean and low mileage. Taught me a lesson. All said and done, I was still about $1500 under trade value (about 10% under value. Trade should have been about $9600-$10,500 according to the book). That damage could cost you 20-35% trade value down the road. Good luck.
 

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As others pointed out, this is called diminished value. If your state laws allow you to claim it, definitely pursue it. My last vehicle (Nissan Titan) was wrecked and I finally gave up and traded it in because I got tired of people wanting to buy and then just walking once they found out it was wrecked. Of course, the dealer pulls a CarFax as well (most do anyhow) and they all offer less for it as well knowing it will be harder to sell.

I am still settling that claim. Still dealing with medical injuries, and they told me we have to settle the whole thing at once.
 

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One of the members on this forum (2008 Orange) went through a collision and did some research into that matter - her car went through significant body work, and all came out well with the car afterward.
Yeah, as happy as I was with the repair work, I wasn't as enthusiastic about the amount I got for the DV claim. I did use an appraisal company as someone mentioned above, but didn't get nearly what they said I should get. I guess it depends on how long/hard you want to fight with the insurance company as to how much you can get out of them.


I am still settling that claim. Still dealing with medical injuries, and they told me we have to settle the whole thing at once.
That's weird, does that vary by state? I had to settle the car claim and DV claim separate from the rest. I'm 1-1/2 years out and still haven't settled the pain and suffering part of mine.
 

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That's weird, does that vary by state? I had to settle the car claim and DV claim separate from the rest. I'm 1-1/2 years out and still haven't settled the pain and suffering part of mine.
Good question. That's what they told me, and I took them at face value. Maybe I should double check the state laws. I know in OK, where I live, we have 2 years to settle the claim out.

I'd love to get the DV part settled. I've gotten one of those depreciation claims already, plus the dealer where I traded in my truck to get the Challenger was going to put something in writing to help me as well, if it was needed.
 

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After reading the posts I got curious and looked on the web. You can file a diminished value report for up to 4 years after the incident. Just some FYI.
 
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