drum19go

It's a sad story. Last summer I finally pickup up my first beautiful 911 after dreaming about it since childhood. Dream come true.

Three weeks in the car, parked in a public parking lot to protect it on a day business trip, ends up under 2 feet of water for 4 hours. I return to the car and the garage is flooded due to lot management not paying attention. Lovely. Said. Crap.

Three months later, after the dealer refused to total the car, and almost $10k of repairs (including new sport seats and all new electronics), the car returns. It runs great, no real problems since getting it back, no rust, all good.

Flash forward a year later, car is running great but I'm considering selling it to upgrade to a 2012. The dealer won't pay near the value (even after they are the ones that ok'd it, took the insurance money, but won't pay near value based upon the water damaged title).

Any ideas on who might be interested, or where I can sell the 911? Maybe someone looking for a track car? It's a 2007 997 in good shape - looking for some advice. Thanks in advance for your thoughts.

- Love the 911, hate the situation

AYHSMB

I imagine it's too late, but your insurance company is the one who owes you for diminished resale value.

Your best value is to keep the car, I'm sure you know. Barring that, probably private sale. Obviously value will be down but not so far down as if you try to sell it as a track stripper.

Mbiondo

By trying to sell it as a track car, you're giving in and admitting defeat. Show someone the care and love you've put into this car, and they'll compensate you for it. Maybe not full value, but a fair value that leaves you, the seller, and the new owner content. Don't give up!

BHMav8r

Dont know if you signed any settlement. Talk to your carrier. Since you can show the diminished value based on the dealers offer you may have a shot. Also the garage owners/mgmt insurance.

CBnAT

I don't know if there is a time limit to the DV claim with your insurance company. I got 100% of my DV claim when I was rear ended, that was after being offered $0 by the insurance company.
Here is who I used, they should be able to give you good info:

Collision Claim Associates, Inc.
Professional Vehicle Appraisers & Auto Claim Consultants
P.O. Box 1734, Cumming, GA 30028

1-866-438-6938 (Toll Free)
770-887-7626 (local Atlanta)
770-886-6196 (Fax)
www.CollisionClaims.com

DLennox

Sorry for your misfortune, but the diminished value is real. Talk to your insurance agent. I would NEVER buy a car that has been under water and I think a lot of people feel that way. Flood cars are about the biggest problem vehicles out there.

Vjgtrybno1

+1 on going back to the insurance company or garage that flooded you - Your damages are real and now documented.

The advice is all over forums like this - do not buy flood-titled vehicles.

USMC_DS1

Have you confirmed via carfax that your car is listed as a flood damaged car? My old m3 had flood damage... my insurance paid $15K in repairs. So I drove it for 10 yrs thinking it had a damaged record and that was the only way I would get fair value out of it. Sold it early this year for bluebook value to get my 997 and discovered that carfax listed nothing... not even the accident I was in 5 yrs ago resulting in $14K in repairs. Zhit happens and every once in a while it's good Zhit.

PCC

Is it a C4 by chance?

boolala

This has nothing to do with the dealer. The dealer does not make the decision on whether or not to total the car; the insurance company does. It was your call as to whether to file a claim for DV at the time of the mishap. I'm not a lawyer and have no idea if there is a statute of limitation on filing a claim like this but that is really your only option at this point. I assume that it was the garage's insurance company that picked up the tab. If, instead, it was your insurance company that paid for the repairs then you have little recourse as their obligations are spelled out in advance by their contract with you and most do not allow DV claims.

BHMav8r

Just because its not on the carfax doesnt mean you wont get sued for not disclosing that it was flooded.

Edgy01

Waiting this long did not help your case.

drum19go

Thanks for the good discussion. Here's where we are:

1. I had the car re-appraised right after the repairs were completed and have documented DV from an expert.
2. Went to the insurance company who covered all the repairs (State Farm) and they specifically have a clause in their insurance contract that they will not pay for DV of a vehicle.
3. Filed suit against the garage management company for the DV claim. Case is headed to court in Dec (note: we filed this IMMEDIATELY after the event so there was no delay). Our legal systems is slow and takes way too much time (we can talk about that on Rennlist Legal board....)
4. VA (where car it titled) has a 'Water Damaged' title which I have seen (made me cry....)
5. Still have the car until things are settled and we see what comes of it.
6. I disagree that the insurance company does not take the dealer's call into a decision on totaling the car. They specifically asked the Porsche tech for his thoughts and according to them 90% of the time on luxury cars go with the expert opinion versus being liable for later issues and potential lawsuites. The Sr tech said the core components of the car were fine, there was no permanent damage to the engine, which led them to the assessment that it was not totaled. So, while he did not say 'total this car', he could have made a long term assessment to that end.

Had he made a different recommendation, two things would have happened: a. greater likelihood of totaling the vehicle and b. if the total occurs, they would have sold another car to me! But that's not what this is about.

It's a crappy situation and didn't help with realized my Porsche dream, but so life goes.

For those who wanted to know. it's a 2007 997 six speed, C2 with sport exhaust. Absolute blast to drive.

Thanks for the input.

boolala

I'm still unclear whether this was filed as a claim under your policy or the garage owners policy. If it is your policy then you have signed a contract with them and if it stipulates that DV is not covered then it's not covered. However......if this is the garage's policy then you have no contract with them. I don't care if they will not cover DV, that is not your problem as you never signed an agreement with them. That is the garage owner's problem. If they will not pay then the garage owner owes you the difference. You have the right to sue the garage and their insurance has an obligation (supposedly) to defend them in court. You can make a claim for mental anguish if you like and press your case. If his policy doesn't cover it then it's his loss not yours if the court rules in your favor..

Do you understand the distinction?

Now there are several subtlties to this case (and remember I am not a lawyer). First of all some courts have ruled aganst the enforcement of a written contract if the parties have substantial differences in power or bargaining ability. They may simply void the contract even if it was covered under your policy and it specifically excludes payments for DV. I think that this is unlikely, however.

Secondly most garage's that I know of have a disclaimer that they are not responsible for damage to your vehcilce, theft, etc. Whether this is enforceale or not I don't know and I'm not aware of any precedents on this so ask your lawyer.

Whatever you do do not give up. If you lose on a techicality then so be it. But persue this to its logical conclusion . Do not let the fact that the garage owner's contract with his insurance company will not cover DV. That is the garage owner's problem and is not your problem.

sy308

I would call the boys from Detroit.