Date registered: Dec 2005
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Diminished Value claim - your experience?
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.