When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
Long story short, I was involved in a hit and run in my 2018 TTS. Someone road raging deliberately bumped my car with his new Volvo SUV by swerving into my lane sharply as I was passing him. He continued on for 3-4 miles without stopping and tried pulling dump maneuvers to lose me while I pursued him. I have some of this on video. Luckily while stopped at a light in traffic there was a police car right behind him to which I flagged down and had us pull over ahead.
I was furious when I got out of my car and then I noticed that the only "damage" on my car were just black rubber tire marks on my wheel spokes and edge of the quarter panel. Shockingly no dents/bends or an body damage. I then rubbed the black marks with my hand and they came right off like magic.
I told the police I was willing to walk away and disregard everything without a report because there was no damage on my car and I did not want a carfax report stating a accident thus diminishing the car's value. The police said they would only do a driver info swap. I talked to the other driver in front of the police and forgave him. I told him that his car has no damage and he's better off not claiming anything through insurance as it would also appear on his carfax to which he also agreed.
Fast forward a bit later, my car now has an accident listed on the report. I talked to a diminished value specialist and he basically said I won't be able to get anything because there wasn't significant damage. Clearly I'm at a big loss here when it comes time to sell. Am I SOL or is there any slight chance I can recover something? I still have a lot of time when it comes to statute of limitations.
get a police report.
take photos.
go to Porsche dealer and get them to inspect car.
calm down, its a car, it's not worth getting sick over this.
have you ever sued someone? it's not pretty.
you have little or no damages and an "admission against interests" witnessed by a cop.
Buy yourself a bottle of 50 year old scotch, sit down, chill some scotch rocks and have drink
Thanks for the post. I'm definitely not in a frenzy or panicked, but easily out 20-30k in value. I wouldn't be suing the driver, it would be state farm. We both have state farm. It's not an admission against interest when I was trying to avoid a carfax accident report which is the reason why I was trying to let it all go in the first place. I'd rather nothing come out of it than this. I did my best to avoid it, but now I'm in it.
What I'm left with is a car with no visible damage, but a tainted history report with no damage to show for it. I'm the sole loser in the situation even after being the nice guy. I more than likely saved him from an arrest due to my willingness to let him go. I heard the police belittling him and threatening arrest.
Unfortunately, the insurance companies, dealers, and others are responsible for all of this. They feed data to carfax that can be incorrect and defamatory.
I Don't ever think it's a good Idea to try and chase a driver down if they run. You never know what they might do. What did the incident on car fax say? If you get an actual police report, you might make the records on your car worse. Since there's no damage how is it diminished value only on paper? You could try and sue but it seems to me trying to make a case for an incident on carfax is really thin.
Seems like there is a police report which I need to obtain. This is what appears on my carfax now.
When I spoke to one DV specialist he said since there's no damage and no body work I can't get any DV claims. I wouldn't be suing the guy personally, I'd be filing a claim on insurance and we have the same insurance company. Insurance claim or not, the carfax is now tainted. The other driver is listed first which indicates fault.
I spoke to a friend at a dealership who said no matter how little or no damage, the accident report will fetch anywhere from 15-25% less on trade. Similar for private party sale.
Really upsetting that this happened because of an exchange of info report by the police. By not filing a claim I thought that it wouldn't make it to carfax. The police station said that they sell the info to carfax and and crashdocs.
I'm not necessarily looking for a payout. If there was some action I could take against carfax or the police department to get it removed I'd go down that route too. Anyone have input on that idea?
Unfortunately, the insurance companies, dealers, and others are responsible for all of this. They feed data to carfax that can be incorrect and defamatory.
Very unfortunate. Even bringing in your car for something simple such as navi/maps stopped function and on carfax it will state "electrical system checked". This is enough for many potential buyers to overthink this notation and walk away from the car. They adjust the wing and it says "Exterior trim checked". All these notations do is create stories. People don't want to buy stories and it makes the car sound like a lemon.
Here's the rub. Even if no damage was done, the damage IS done. Present an invoice for 1 hour of clean up and a legit diminished value appraisal that accurately reflects what multiple sales managers at Porsche dealers would do if the car was presented for trade. I'll bet that you will still lose 10% of the pre-accident FMV. The insurer will challenge but they will eventually cave, usually without litigation.
Buy a paint meter online, keep photos from rubber marks and take photos w paint meter.
when you sell, make sure panels are available for inspection. Most buyers don’t look at damage report so dealers still charge premium when selling.
show proof of bad report and you won’t loose much in DV.
Here's the rub. Even if no damage was done, the damage IS done. Present an invoice for 1 hour of clean up and a legit diminished value appraisal that accurately reflects what multiple sales managers at Porsche dealers would do if the car was presented for trade. I'll bet that you will still lose 10% of the pre-accident FMV. The insurer will challenge but they will eventually cave, usually without litigation.
So get a few appraisals on trade and file a claim through insurance and present those would be my best bet? Seems like DV attorney I talked to didn't want to waste his time on this one.
Sell the car now while all this is fresh information and the market is red hot. DV on a story this fresh likely won’t make a difference. Yeah, you’ll be out a car, but you’ll get full value for it and can start shopping again.
Wow you really gonna jump through all those hoops for a few $0000, smh
Yup, and it's not entitlement. It's compensation given the fact that I was hit and run by a road rager who is at fault on paper per the police. I even tried to let it slide to prevent this very scenario.
Add another 0. Im easily out 15k minimum and potentially 25k + for literally nothing. Would you let it all slide under similar circumstances?
I would not buy an accident car but if I met you and believed your story (and had the police report) I would pay full value. I think your stuck as far as dealers go. The insurance company is not going to pay for DM if there was no damage. Worth a shot but I'm thinking a loser. A dealer will probably pay 30% less and sell for 10% less than list on a car with a ding.
Does the police report note that there was no damage? If so, you can contact CarFax and see if they will remove the incident. Or/And have the dealership inspect the car and report the lack of damage as well. They apparently take about two weeks or so to respond, but it's worth a try.
01-15-2022, 07:49 PM
Tricky Diminished Value Claim. Seeking input.
