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Diminished Value Claim with insurance
Looking for some advice dealing with an insurance company… 3 weeks ago I was rear-ended (by a new Cayenne GTS) and my car suffered damage to the rear bumper, muffler, trunk, and rt. brake light. It’s now being repaired by the highest-end body shop in town paid for by the other driver’s insurance (approx. $8k). The shop believes that the repairs can be done fully, obviously I’ll do a thorough inspection.
I brought up Diminished Value with the insurance co. and they played dumb about how best to handle that part of the claim. So here’s where I need some help…how do I illustrate the loss in value now that there are repairs and an accident reported on the Carfax?
Car: 2008 6MT w/ 35k miles. Excellent condition (before wreck). Black.
I believe the car was worth $30k+ with a clean Carfax. Now what will it be worth? $25k? Obviously ours are not the average commuter car, and any table or formula they use won’t accurately reflect the market.
Last edited by maggasp; 11th January 2017 at 08:53 PM.