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14 day old m3 hit while parked total loss?

AlanSubie4Life

Efficiency Obsessed Member
Oct 22, 2018
10,396
12,639
San Diego
Anyone ever used Immediate diminished value is the difference in resale value of a vehicle immediately before an accident and prior to repair?
I don't know anything about that. What is the purpose of that? It sounds like it's close to a salvage value (though probably higher if it's not an "at-auction" value), and that it is rarely used.

Typically for diminished value you just wait until the car repairs are complete. Then make the claim after you get the car back. They are still on the hook for damage to the resale value of your vehicle. The claim is not closed. Make it promptly (since cars are always depreciating), but for now if they are proceeding focus on ensuring the repairs to the vehicle are done correctly.

I don't remember the details of your car other than it is a used vehicle. But probably at least several thousand dollars of diminished value. As I said, there are plenty of calculators out there. Hopefully you don't run into property damage limits.

There's no need to hire anyone to do the claim for you. If you do the research, you can simply send a letter to the insured's insurance company and ask for the appropriate amount. They will negotiate, etc., of course, but it should be able to be resolved, since it's fairly easy to evaluate the approximate loss of value, and it's not really something that is "wishy-washy."
 
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Tmoney

Member
Dec 23, 2018
32
16
Socal
Thank you.

I'm still waiting on what they are gonna do with the vehicle.
Total is over 16k now to fix the car and I got a diminished value appraisal.. and it was 12k... My vehicle has stuctural damage and can no longer be a used Tesla certified vehicle..
 
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AlanSubie4Life

Efficiency Obsessed Member
Oct 22, 2018
10,396
12,639
San Diego
Total is over 16k now to fix the car and I got a diminished value appraisal.. and it was 12k... My vehicle has stuctural damage and can no longer be a used Tesla certified vehicle..

Yes. Usually diminished value claims max out at about 10k or so, because after that the car is totaled. The insurance company takes this into account (even if not explicitly) when determining whether to total the vehicle. They're going to be out of pocket 30k just on DV and repairs not including anything else....salvage value on that vehicle is probably over $20k since the battery is intact. So...
 
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