Diminished Value
Thread Starter
Rennlist Member

Joined: Jan 2004
Posts: 405
Likes: 27
From: vero beach florida/ connecticut
My almost new 2019 TTS was hit by the gate in the community where I live as I entered the place. The right rear quarter was hit not too badly but enough that they have to reshoot the whole panel.
The damage is $700 but I know when it comes to these cars any paint work is a red flag. I told the head of the association that there is damage beyond the repair and that went over his head.
Do I have a legitimate claim in this case and if so should I get a lawyer.
Thanks
The damage is $700 but I know when it comes to these cars any paint work is a red flag. I told the head of the association that there is damage beyond the repair and that went over his head.
Do I have a legitimate claim in this case and if so should I get a lawyer.
Thanks
It was fairly simple when I went through this on my old C4S. I got 11k, the lawyer took 1k out of that. Should be easy to search for a diminished value guy.
Your car will lose 10% - 15% of it's pre-accident fair market value. Obtain a comprehensive DV report that isn't based on a formula, algorithm, ad comparisons, book value comparisons or other short cuts and you should be all set without needing an attorney. Expect some back and forth. It comes with the territory. Hire an appraiser who will help you with how to respond to low ball offers, etc.
My almost new 2019 TTS was hit by the gate in the community where I live as I entered the place. The right rear quarter was hit not too badly but enough that they have to reshoot the whole panel.
The damage is $700 but I know when it comes to these cars any paint work is a red flag. I told the head of the association that there is damage beyond the repair and that went over his head.
Do I have a legitimate claim in this case and if so should I get a lawyer.
Thanks
The damage is $700 but I know when it comes to these cars any paint work is a red flag. I told the head of the association that there is damage beyond the repair and that went over his head.
Do I have a legitimate claim in this case and if so should I get a lawyer.
Thanks
Trending Topics
My almost new 2019 TTS was hit by the gate in the community where I live as I entered the place. The right rear quarter was hit not too badly but enough that they have to reshoot the whole panel.
The damage is $700 but I know when it comes to these cars any paint work is a red flag. I told the head of the association that there is damage beyond the repair and that went over his head.
Do I have a legitimate claim in this case and if so should I get a lawyer.
Thanks
The damage is $700 but I know when it comes to these cars any paint work is a red flag. I told the head of the association that there is damage beyond the repair and that went over his head.
Do I have a legitimate claim in this case and if so should I get a lawyer.
Thanks
Make sure you keep pictures of the damage. $700 is nothing.
If you called the police it might end up on a carfax. If it does end up on a carfax with "damage reported" it could impact the value. If it doesn't end up on a carfax it would be up to you to disclose the damage to a potential buyer. Personally, I wouldn't care nor would it impact the value of if I was buying it.
A lawer will cost you more than any diminished value on the car.
TK
If you called the police it might end up on a carfax. If it does end up on a carfax with "damage reported" it could impact the value. If it doesn't end up on a carfax it would be up to you to disclose the damage to a potential buyer. Personally, I wouldn't care nor would it impact the value of if I was buying it.
A lawer will cost you more than any diminished value on the car.
TK



