Diminished Value claim - your experience? - Mercedes-Benz Forum

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post #1 of 2 (permalink) Old 04-18-2006, 04:28 PM Thread Starter
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Diminished Value claim - your experience?

Hi everyone,
Right before Christmas, I bought my fiance her dream car - CLK350 Convertible, brand new (2006). Less than 6,000 miles on it. Yesterday, a careless lady hit her and damaged the right side, door and rear quarter panel. Not sure if any frame damage yet, the car is only at the body shop awaiting judgement.

The other lady was clearly at fault, but of course the claims adjuster for her is trying to not assume full responsibility. Once we get that cleared up that they were fully at fault, I am going to demand payment for diminished value in addition to repairs.

What has been you guys' experience with determining diminished value? Are there any good ideas you've had to make them admit they owe you it? Most importantly, how was the amount determined? I've read that on some luxury vehicles, especially ones built for driving hard (like Porsche) the DV can approach 50%. It seems the only way to truly determine the true current value is through selling it, which I have no problem doing...once the other party's adjuster admits they owe you it, will they accept a market sale to determine the amount?

This is going to be an ugly fight because I predict the amount will be anywhere between $10K and $20K, so I don't expect them to just let us have it. Any ideas you guys might have, or even any amounts you've seen as the value loss, would be very helpful.

Thanks everyone and take care.

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post #2 of 2 (permalink) Old 04-18-2006, 07:46 PM
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RE: Diminished Value claim - your experience?

In Houton there are some specialists that handle the diminished value claims for a fee. We were having this discussion at lunch last week since a friend of mine's new Dodge truck was smacked in the front end with 5k miles on it. He went to sell it and the damage apeared on carfax and he was offered about 6k less than wholesale. The specialist fee is a couple of hundred bucks and he will handle with the insurance company. I guess it depends on the area that you are located. If you can't find a specialist, take the car to the dealer, carmax and at least one other source for appraisal. present the offers to the insurance company along with the current trade in/retail figures of the vehicle and request the sum as diminished value. I sincerely doubt that you will get 10 to 20k but whatever you get will help your situation.
Good Luck!
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