I am the owner of Direct Appraisal, HQ in Dallas Texas. We've service the Southwest area for 23 years, and we have performed nineLoss of Market Value appraisals on Tesla's since the first of the year. The average loss of market value comparable to your loss isaround 18k.
Also, since it a tort loss the injured party has the remedy election. NOTthe at fault party's carrier. The proper measure of the loss would be thedifference in the property’s Fair Market Value* immediately before the wreck,less the Fair Market Value* immediately after the wreck! That is the legal definitionof diminished value.
The carrier wants to pay restoration cost. In a tort, theyowe the damaged party MONEY not parts and material like your carrier may.
So your possible recovery elements in a restoration remedyelection would be:
Cost of repair – the amount to restore to pre-loss conditionrelative to appearance, function, and safety
Loss of use - damages suffered because you are deprived fromthe USE of the vehicle (where can you rent a Tesla?)
Differences in Value – Anydifference in value immediately BEFORE the wreck, versus immediately AFTERthe repair.
So if they choose to pay for restoration they owe you “regardlessof the completeness of the repair” in a tort loss
COR 40k
LOU 3K ($100 a day for 30 days) > best guess<
LOMV 18K
As I see it - they owe you at least 61K. RIGHT NOW!!
If it’s a regular S model, then you should have paid around80K so if the salvage value is 20K your back to even. And no since repairingthe vehicle. It’s much better for the economy to SELL another NEW car, thenrepair an old one!
I suggest you make a demand for the full amount in writting immediatley. If they tell you that they want to wait to assess the DV after the repairs; ask them to tell the law and/or regulation that says that parties injured in a tort have to repair their property to get paid ALL that they're legally intited to recover!
If you do not asert your right, you will loose them!
Usual recognizeddefinition
*“marketvalue” means the amount that would be paid in cash by a willing buyer whodesires to buy, but is not required to buy to a willing seller who is willingto sell, but is under no necessity of selling, and both having reasonableknowledge of the facts .
Wow' I'm not sure what to say, thanks.