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> OT in an accident Sat, good news bad news
ws91420
post Feb 21 2007, 10:07 AM
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Yes I have one a Lensley 914
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Bad news first
hit passenger front in front of wheel bumper, fender, flare, fog light all damaged
vehicle not drivable





Good news
other drivers fault and his insurance is paying for it
and it wasnt my 914
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ws91420
post Feb 21 2007, 10:24 AM
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Yes I have one a Lensley 914
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Update just got a call from the adjuster $5k inital estimate. This is on my 05 Colorado that I have had just over a year. This just sucks because it drops the value of the truck. How much will the damage repair devalue the truck?
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type11969
post Feb 21 2007, 11:38 AM
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Some states force insurance companies to pay the difference between the book and devalued (after the accident) value of the car. I think you have to fight for it though even if the state says the ins company has to do it. Can't remember what the technical term is for that payment, all I remember is NJ doesn't pay it out . . . Worth looking into though.

-Chris
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gopack
post Feb 21 2007, 12:03 PM
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CHEESEHEAD in CA, MARK
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QUOTE(ws91420 @ Feb 21 2007, 10:24 AM) *

Update just got a call from the adjuster $5k inital estimate. This is on my 05 Colorado that I have had just over a year. This just sucks because it drops the value of the truck. How much will the damage repair devalue the truck?



I had a 1999 Isuzu Trooper, and had a $6500 accident. a year later the trade book value was $10500, and all i could get for trade was $5000. if that is a typical reduction, now you know!
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Rusty
post Feb 21 2007, 12:40 PM
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I can't answer this... but maybe you could go to your local dealer and talk to them. Since they do trade-in deals all the time, I'm sure they have experience with this kind of thing.

If you could get them to write you a letter about the devaluation of your vehicle, it might help get you compensated.

Dealers LIKE return customers. (IMG:style_emoticons/default/smile.gif)
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sk8kat1
post Feb 21 2007, 12:46 PM
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QUOTE(gopack @ Feb 21 2007, 10:03 AM) *

QUOTE(ws91420 @ Feb 21 2007, 10:24 AM) *

Update just got a call from the adjuster $5k inital estimate. This is on my 05 Colorado that I have had just over a year. This just sucks because it drops the value of the truck. How much will the damage repair devalue the truck?



I had a 1999 Isuzu Trooper, and had a $6500 accident. a year later the trade book value was $10500, and all i could get for trade was $5000. if that is a typical reduction, now you know!



same here -- the car was on the verge of being a total but allstate fixed it --- It blue booked at 9 K i was offered a trade in of 2K ..thank you allstate (IMG:style_emoticons/default/blowup.gif)
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ws91420
post Feb 21 2007, 08:02 PM
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Yes I have one a Lensley 914
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Being in the car business for quite a few years and in different areaa there is a difference in retail,wholesale, and trade value and a dealer rarely will give you retail for your vehicle. Repairs would have to total 75% of value to be totaled so no luck there.
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GeorgeRud
post Feb 22 2007, 09:54 PM
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It's been my experience that if you're trading a used car on a new one that is the least bit popular, your chances of getting a fair trade (ie in the blue book range) are very poor indeed.

If it's a model that's not popular, you have a chance. Remember, the auto dealers are pros at making money on the deal!
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VaccaRabite
post Feb 22 2007, 10:10 PM
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Once it is fixed, drive it into the ground. You won't be getting any money for it at trade in time anyhow.

Zach
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ws91420
post Feb 22 2007, 10:15 PM
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Yes I have one a Lensley 914
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pretty much going to have to anyway 6 year loan just pisses me off I have had it just over a year I am drivivng an 07 Tahoe as a rental though
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rick 918-S
post Feb 22 2007, 11:44 PM
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Book value and tradein are two entirely different things. And "loss of value is entirely speculative.
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914-8
post Feb 23 2007, 12:53 AM
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You can get the loss in value caused by it being repaired, even if it is repaired properly, at least in calif and I think in most states.

Particularly when someone hits you, it's their fault, and their insurance company is paying. Their insured hit you, and it is their obligation to make you whole.

It's called "dimunition in value."

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