dntlvet

While I was at work a snowplow hit my Cayenne Diesel sitting in the parking lot, legally parked. Repairs will be $4700 with the dealership I purchased the vehicle new. The party that hit the vehicle has submitted the claim for repairs. The company states there will be no loss of value.

I need to prove they are wrong and to substantiate loss of value.
Looking for anyone with real life experience fighting an insurance company because I am going to fight.

How do you prove the value of the vehicle before and after the accident repair?

dale at vin dot com

gnat

If you are having it done by your dealer, they should be able to give you what they would have paid you for it if there was no accident and what they would pay for it now. The difference is your diminished value.

If they can't/won't do that, then you'll need to find an estimator in your area and have them give you the information.

I actually need to get off my *** and get it done on my CD too so I can beat up the construction company that forced me to get a full repaint.

Sometimes they will claim that if it doesn't show on the vehicles VIN report (e.g. Carfax) then there is no diminished value since the buyer wouldn't know. If you are doing a private sale this might be true if they don't take it to a shop that can test to see if it's been repainted, but if you sell it to a dealer you can bet they'll check the paint and ding you for being in an accident. Additionally, since you are having your Porsche dealer do it they'll likely log it in their system and it may disqualify it from being CPO'd which would reduce what they are willing to give you for it.

RacerX5

I have seen State Farm add diminished value on a Carerra that was water damaged. The repair cost about $35,000 on a car about 9 months old. The car was driven into a 3' deep "puddle" and every electric component in the front half of the car needed to be replaced. Since repairs were coordinated with Porsche to maintain the warranty, (but done by an Indy shop), this car got a flood Carfax. State Farm paid over $10k of diminished value, and the car was sold to a private party for at least that much of a loss under the normal value. The owner bought a new Porsche right after the incident, but he knew what was in store for this car. Between negotiations with Porsche to keep the warranty, negotiations with State Farm to pay for everything, and finally getting all the parts and taking half the car apart, it took 3 months to fix.

But to get diminished value for a $4,700 accident I think would be a very uphill battle. That much damage at Porsche dealer prices is nothing. I had a single football sized dent on the rear quarter of my G35 that cost that much to repair. But what the trigger point is to get diminished value paid I think is a well kept secret.

Frank 993 C4S

It really depends what the damage was. $4,700 amounts to the equivalent of two GTS wheels with tires so money adds up quickly.

blackland

Got rear-ended in my SL63 by a guy talking on his cell phone. Damage was only around $3K, Geico paid us $1800 in diminished value. They didn't question the payment, it is required in Georgia. You can hire independent estimators to calculate it. You can sue them for it if you live in a state where it is not required.

dntlvet

I really like the cayenne diesel because if is a nice over the road vehicle and pulls predictably well.
I agree 4700 bucks iws not a lot but Which one of you here would buy my car at the same price of a similar vehicle with no accident?

grohgreg

I know it doesn't apply in the case of repairable damage, nor in the case when there's no auto loan involved. But something to consider is GAP insurance (Guaranteed Asset Protection). I'm with GEICO, and they don't offer it. But thru my credit union - where I financed the Cayenne - it was a one time premium payment of $249. If I total my car, the credit union GAP coverage will pay up to 125% (max $50,000) of the difference between the loan balance and the insurance company claims is the actual cash value. It also covers whatever the insurance company makes you forfeit in the form of the policy deductible.

That said, GAP coverage essentially expires once the loan balance drops below market value. So in my case, the $249 I paid is already forfeit due to the CD holding its value so well. My loan balance is dropping much much faster than is the NADA retail value (paid $71,000 new in Aug 2012, current NADA retail $67,750). But I can see where it would last longer on vehicles with much more rapid depreciation rates.

Having said all that, the exceptional (NADA) retained value of my '13 CD does relate tangentially to the OP issue. The fact that the accident damage and non-dealer repair are quite likely to be recorded somewhere in the public domain will almost certainly have a negative impact on the market value of this particular Cayenne. Whether or not there's any way to remedy the situation after the fact is unknown. But it certainly does add a new dimension as to what kind of coverage the OP will purchase on his next new vehicle.

//greg//

dntlvet

So where do I obtain NADA on my specific build 2013 Cayenne Diesel?
VIN # Options Value?
Is there a direct link to a NADA calculator?

grohgreg

The NADA BlueBook has been online for years, I'm amazed you didn't know: http://www.nadaguides.com/. If you have more faith in the Kelley BlueBook prices, go here. The KBB figure is slightly lower, their valuation (of mine) says $66,577

//greg//

dntlvet

KBB and Edmunds I knew; I appreciate this.

BlazinPond

I use KBB quite often and it lets you account for various options, even though options seem to incur high depreciation.

fwiw: NADA doesn't let you account for much of any optional equipment.
For a vehicle like Porsche Cayenne where you can easily add 50k in accessories/options, i feel the NADA is a poor predictor of value.

Slow Guy

The only thing that depreciates faster than these "premium/exotic" vehicles is the options on the vehicles. Not the least bit unusual.

klum1971

@dntlvet I feel your pain. I have my (then) 2 weeks old Cayenne rear ended by a driver who was texting during morning rush hour traffic. Needless to say I was miffed. Anyways, the damage was about $6000 or so and I got $5400 back on top of the repair costs as diminished value. What I had to do was to get my own independent appraiser (in CA such a service runs about $300) to declare what was the diminished value of the care due to the accident. The appraiser came up with $11,000 but the insurance offered $5400 so I took their offer. From what I understand, only certain insurance companies will entertain the concept of diminished value and it probably varies state to state. I wish you luck friend.