Any diminished value experts?
#16
Three Wheelin'
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Read The Emperor has no Clothes. No one in his right mind would care one iota about such minimal damage. Worrying about “DV” on this type of blemish is like the zero tolerance policies that don’t differentiate between a cough drop and heroin. Document the damage with photos, and if you ever sell the car it won’t make one iota of difference in the price you’ll get. Think about it. All anyone seems to care about is the “report card.” When it’s repaired, the car will literally be as good as new. There will be absolutely no way to tell it was ever repaired and your driving enjoyment will not be affected in any way. Carfax and lawyers (and Rennlist) created the entire artificial world of DV. It should only matter when there has been serious damage. What if you decided to replace the front or rear bumper covers to Sport Design? Just because you changed the covers, should the vehicle now be subject to DV? Of course not. But if you get a scratch or ding and you replace the covers, then your car is worth less? Oh, I forgot. It’s only worth less if it’s reported in Carfax. Give me a freaking break. This is pure insanity. There is no such thing as DV for cosmetic damage. The Emperor has no clothes.
I recently bought a 2019 C2 Cab, after looking at quite a few.
Any cars that had damage, even reported as MINOR were DISREGARDED...
I finally found one that had a "good" CARFAX...(no Reported" damage...which doesn't mean to say it had NOT been damaged. Carfax is NOT 100%)
As far as "damage that has been repaired", that's fine, but, who repaired the damage and really how extensive was it? (Unless "documented", which generally means
you are buying it privately, there will almost NEVER be any documentation from a dealer...
There will be the car you are looking for that HAS NO DAMAGE, just keep looking..
I found that the HIGH END dealers generally had the best cars (Trade-ins to Porsche Mercedes, Lambo/Ferrari etc)
#17
Rennlist Member
Thread Starter
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I disagree with you 100%
I recently bought a 2019 C2 Cab, after looking at quite a few.
Any cars that had damage, even reported as MINOR were DISREGARDED...
I finally found one that had a "good" CARFAX...(no Reported" damage...which doesn't mean to say it had NOT been damaged. Carfax is NOT 100%)
As far as "damage that has been repaired", that's fine, but, who repaired the damage and really how extensive was it? (Unless "documented", which generally means
you are buying it privately, there will almost NEVER be any documentation from a dealer...
There will be the car you are looking for that HAS NO DAMAGE, just keep looking..
I found that the HIGH END dealers generally had the best cars (Trade-ins to Porsche Mercedes, Lambo/Ferrari etc)
I recently bought a 2019 C2 Cab, after looking at quite a few.
Any cars that had damage, even reported as MINOR were DISREGARDED...
I finally found one that had a "good" CARFAX...(no Reported" damage...which doesn't mean to say it had NOT been damaged. Carfax is NOT 100%)
As far as "damage that has been repaired", that's fine, but, who repaired the damage and really how extensive was it? (Unless "documented", which generally means
you are buying it privately, there will almost NEVER be any documentation from a dealer...
There will be the car you are looking for that HAS NO DAMAGE, just keep looking..
I found that the HIGH END dealers generally had the best cars (Trade-ins to Porsche Mercedes, Lambo/Ferrari etc)
#18
Rennlist Member
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This is just my opinion but I'm willing to bet this is purely a cosmetic problem. A good shop should be able to replace the bumper and you are all done. I might be wrong but I can't imagine a shop is going to put this on car fax for just replacing a bumper and nothing else. You have pictures, documentation, etc if you ever decide to sell the car in the future. I can't imagine there would be any real diminished value. I certainly wouldn't hesitate to buy this car knowing how minimum the damage was. Just my .02
#19
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This is just my opinion but I'm willing to bet this is purely a cosmetic problem. A good shop should be able to replace the bumper and you are all done. I might be wrong but I can't imagine a shop is going to put this on car fax for just replacing a bumper and nothing else. You have pictures, documentation, etc if you ever decide to sell the car in the future. I can't imagine there would be any real diminished value. I certainly wouldn't hesitate to buy this car knowing how minimum the damage was. Just my .02
The internet says: "If the insurance company was going to report the repair to Carfax, they will do so even if you don't get the repair from their authorized repair shop. If they cut a check because of a claim, they will report it. "
So, since a claim is filed, and they will be cutting a check, they will have to report it to CarFax, which means they will have to cut another check directly to me for diminished value. Pretty simple.
Last edited by WP0; 10-01-2023 at 05:37 PM.
#20
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My diminished value experience - my wife was driving my 99 Boxter (around 2006) and came to a stop light. Large truck must have had it in neutral and accidently backed up over the hood of my car. Wife uninjured - thank goodness. We turned it in to our insurance company (State Farm) and reported it to the truck drivers insurance company for settlement. The truck driver's insurance company agreed to pay for the cost to repair the bumper and hood. I had a buddy (also a Porsche owner) who was an insurance adjuster who suggested i could get a further settlement from the truck driver's insurer for DV (new concept to me at the time). He gave me a few litigation settlement references that he had access to as an adjuster that i could use to press the truck drivers insurer for a further settlement for DV. He then told me to go to a couple of dealers to get their written estimate of the potential diminished value that would result from the accident which i also did. End result - no lawyers involved - was a pretty good increased settlement above the cost of repair. I don't recall what that settlement was but it did amount to enough to offset any delta i might lose as a result of the accident. Sold the 99 Boxter a couple years later and have since picked up a 17 911 C2S and love it (bought new). If you want to avoid losing some of the potential increased settlement for DV to a lawyer, you may want to give it a shot given the potential minimal damage (hopefully). that said, my damage was pretty significant and yours may not be worth the effort - but why not?? Just takes time and may result in a bit more $. Good luck!
#21
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My diminished value experience - my wife was driving my 99 Boxter (around 2006) and came to a stop light. Large truck must have had it in neutral and accidently backed up over the hood of my car. Wife uninjured - thank goodness. We turned it in to our insurance company (State Farm) and reported it to the truck drivers insurance company for settlement. The truck driver's insurance company agreed to pay for the cost to repair the bumper and hood. I had a buddy (also a Porsche owner) who was an insurance adjuster who suggested i could get a further settlement from the truck driver's insurer for DV (new concept to me at the time). He gave me a few litigation settlement references that he had access to as an adjuster that i could use to press the truck drivers insurer for a further settlement for DV. He then told me to go to a couple of dealers to get their written estimate of the potential diminished value that would result from the accident which i also did. End result - no lawyers involved - was a pretty good increased settlement above the cost of repair. I don't recall what that settlement was but it did amount to enough to offset any delta i might lose as a result of the accident. Sold the 99 Boxter a couple years later and have since picked up a 17 911 C2S and love it (bought new). If you want to avoid losing some of the potential increased settlement for DV to a lawyer, you may want to give it a shot given the potential minimal damage (hopefully). that said, my damage was pretty significant and yours may not be worth the effort - but why not?? Just takes time and may result in a bit more $. Good luck!
#22
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Definitely agree you should qualify for DV. That is one of the most collectible (and beautiful) 991.1s…and after seeing Sam Zamirs beautiful thread on how it’s not “just a bumper job” I think most wise buyers would think twice on buying a 911 with any amount of rear damage. (Fortunately your damage appears to be above the crash bar…)
Brings tears to my eyes to see a beautiful 50th wounded but I’m sure it will be repaired well.
Here in case you missed it
NF
Brings tears to my eyes to see a beautiful 50th wounded but I’m sure it will be repaired well.
Here in case you missed it
NF
Spoiler
#23
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subaru335i (10-06-2023)
#24
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I think you might have it backwards: using PDR in this instance on broken and creased plastic is rolling the dice; a new bumper cover with new paint and new PPF should be as straightforward as it gets in this instance. In fact, I'll have them get the parts, spray it, wait a couple of months, place the PPF, then place the decals, then go and have them install it.
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shammerman (10-02-2023)
#25
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Contact AutoLoss to determine a diminished value. IF a police report was not filed it will never show up. If a police report has been filed its already on carfax. Run a carfax immediately. If it doesn't show up, run another one in a week. In addition, get a Carvana offer ASAP hopefully before accident shows up. then after accident shows up. An example of a accident in which a truck had zero damage, bad police report, was $8,500 (Carvanna offer before and after record corrected). That was on a 2021 tundra, your car will be $30K. Clowns that say accident dont matter are the ones I love to sell to................. 50% of buyers wont even look at a car that shows an accident regardless of damage.
#27
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I laughed at the above photo when you posted it, but, upon some reflection, I realized that my situation is quite similar to it: I was hit because a jacked up jeep, with huge brush guard / tow winch on the front of it couldn't see where the front of his vehicle was, and stops too late!
![](https://cimg4.ibsrv.net/gimg/rennlist.com-vbulletin/2000x1124/jacked_up_jeep_b9e0e49e7d5a04c9e21bcfb7c29e796b9074fe0f.jpg)
jacked up jeep can't see the front of his vehicle
#28
Rennlist Member
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unfortunately diminished value is one of those things everyone knows about, but i do not know one person that has had a successful DV claim. And im talking about cars with way more damage than you have (not saying you dont have a valid claim, just saying chances are less likely to receive a DV settlement if accident is minor). The only time i have heard of someone ever receiving a DV settlement is someone who had a "agreed value insurance policy". He was paying an arm and a leg for the policy anyway, and i was told the settlement was not much. I have never heard of anyone with a plain market value insurance policy at any of the big boy insurance companies ever receiving a DV settlement, and i have many friends that have tried with luxury vehicles including myself. The thing is everyone i knew got denied by their insurance company, and just stopped there i dont know what would happen if you seeked legal recourse. i would suspect the cost of fighting major insurance company lawyers though would be much more than the claim you would receive anyways. Plus i do remember speaking to one malpractice attorney that deals with insurance companies all the time, and he said the insurance company has many lawyers on staff that will keep postponing, and dragging any case out knowing that it will financially drain whoever is going after them. Plus he said that he suspects it's something very hard to prove. you would have to find 2 cars very similar to yours one that sold with an accident on record that is also very similar to your accident, and one that sold without an accident on record, and that difference would be the only amount you would be able to request (and it would have to be in the same geographical location as well because geographical location is a very big deal to insurance companies in calculating payouts). The only problem is they will be able to pick apart any difference in the cars options, the accident, etc etc which is why it makes it so hard to prove. If you can afford to take the case to the finish line though, and win, would you then be able to sue them for the attorney fees like you can in other situations, that i dont know. Would love to hear what the end result is though, definitely subscribing.
BTW, When i spoke to an attorney about this, it was back in 2012, and in NY state so i dont know how much things have changed since then for better or for worse, and im sure its different state to state. Beautfiul car though, im sorry this happened. One last thing, i remember the attorney also telling me if the car has previous accident history, or the accident was your fault, you automatically dont have a case, but thats not the situation you are in anyways, but just wanted to mention that.
BTW, When i spoke to an attorney about this, it was back in 2012, and in NY state so i dont know how much things have changed since then for better or for worse, and im sure its different state to state. Beautfiul car though, im sorry this happened. One last thing, i remember the attorney also telling me if the car has previous accident history, or the accident was your fault, you automatically dont have a case, but thats not the situation you are in anyways, but just wanted to mention that.
Last edited by mikescayenne; 10-05-2023 at 02:57 AM.
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#29
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unfortunately diminished value is one of those things everyone knows about, but i do not know one person that has had a successful DV claim. And im talking about cars with way more damage than you have (not saying you dont have a valid claim, just saying chances are less likely to receive a DV settlement if accident is minor). The only time i have heard of someone ever receiving a DV settlement is someone who had a "agreed value insurance policy". He was paying an arm and a leg for the policy anyway, and i was told the settlement was not much. I have never heard of anyone with a plain market value insurance policy at any of the big boy insurance companies ever receiving a DV settlement, and i have many friends that have tried with luxury vehicles including myself. The thing is everyone i knew got denied by their insurance company, and just stopped there i dont know what would happen if you seeked legal recourse. i would suspect the cost of fighting major insurance company lawyers though would be much more than the claim you would receive anyways. Plus i do remember speaking to one malpractice attorney that deals with insurance companies all the time, and he said the insurance company has many lawyers on staff that will keep postponing, and dragging any case out knowing that it will financially drain whoever is going after them. Plus he said that he suspects it's something very hard to prove. you would have to find 2 cars very similar to yours one that sold with an accident on record that is also very similar to your accident, and one that sold without an accident on record, and that difference would be the only amount you would be able to request (and it would have to be in the same geographical location as well because geographical location is a very big deal to insurance companies in calculating payouts). The only problem is they will be able to pick apart any difference in the cars options, the accident, etc etc which is why it makes it so hard to prove. If you can afford to take the case to the finish line though, and win, would you then be able to sue them for the attorney fees like you can in other situations, that i dont know. Would love to hear what the end result is though, definitely subscribing.
BTW, When i spoke to an attorney about this, it was back in 2012, and in NY state so i dont know how much things have changed since then for better or for worse, and im sure its different state to state. Beautfiul car though, im sorry this happened. One last thing, i remember the attorney also telling me if the car has previous accident history, or the accident was your fault, you automatically dont have a case, but thats not the situation you are in anyways, but just wanted to mention that.
BTW, When i spoke to an attorney about this, it was back in 2012, and in NY state so i dont know how much things have changed since then for better or for worse, and im sure its different state to state. Beautfiul car though, im sorry this happened. One last thing, i remember the attorney also telling me if the car has previous accident history, or the accident was your fault, you automatically dont have a case, but thats not the situation you are in anyways, but just wanted to mention that.
It sounds like you don’t understand diminished value: it doesn’t matter what type of insurance you personally have, as you don’t place that claim via your insurance company. The claim is placed on the other (at fault) driver’s insurance company. As long as his liability coverage is adequate his insurance company pays out. And if they refuse to pay, you can sue for diminished value and legal fees which the other insurance company will have to pay, so by fighting a valid diminished value claim, they are only increasing their pay out.
#30
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I got 6500 DV in VA on Honda Accord in 2003. It had 2k miles on it when a Karen in a maxi van ran a light trying to kill my SO.
unfortunately diminished value is one of those things everyone knows about, but i do not know one person that has had a successful DV claim. And im talking about cars with way more damage than you have (not saying you dont have a valid claim, just saying chances are less likely to receive a DV settlement if accident is minor). The only time i have heard of someone ever receiving a DV settlement is someone who had a "agreed value insurance policy". He was paying an arm and a leg for the policy anyway, and i was told the settlement was not much. I have never heard of anyone with a plain market value insurance policy at any of the big boy insurance companies ever receiving a DV settlement, and i have many friends that have tried with luxury vehicles including myself. The thing is everyone i knew got denied by their insurance company, and just stopped there i dont know what would happen if you seeked legal recourse. i would suspect the cost of fighting major insurance company lawyers though would be much more than the claim you would receive anyways. Plus i do remember speaking to one malpractice attorney that deals with insurance companies all the time, and he said the insurance company has many lawyers on staff that will keep postponing, and dragging any case out knowing that it will financially drain whoever is going after them. Plus he said that he suspects it's something very hard to prove. you would have to find 2 cars very similar to yours one that sold with an accident on record that is also very similar to your accident, and one that sold without an accident on record, and that difference would be the only amount you would be able to request (and it would have to be in the same geographical location as well because geographical location is a very big deal to insurance companies in calculating payouts). The only problem is they will be able to pick apart any difference in the cars options, the accident, etc etc which is why it makes it so hard to prove. If you can afford to take the case to the finish line though, and win, would you then be able to sue them for the attorney fees like you can in other situations, that i dont know. Would love to hear what the end result is though, definitely subscribing.
BTW, When i spoke to an attorney about this, it was back in 2012, and in NY state so i dont know how much things have changed since then for better or for worse, and im sure its different state to state. Beautfiul car though, im sorry this happened. One last thing, i remember the attorney also telling me if the car has previous accident history, or the accident was your fault, you automatically dont have a case, but thats not the situation you are in anyways, but just wanted to mention that.
BTW, When i spoke to an attorney about this, it was back in 2012, and in NY state so i dont know how much things have changed since then for better or for worse, and im sure its different state to state. Beautfiul car though, im sorry this happened. One last thing, i remember the attorney also telling me if the car has previous accident history, or the accident was your fault, you automatically dont have a case, but thats not the situation you are in anyways, but just wanted to mention that.