Not a slam dunk but if we are talking about the value of substitute then that should be a pretty fair method. And just got word today that some parts for mine is delayed till end of August cause backorder or whatever..
not surprised tho
Loss of Use and Diminished Value claims with Model 3?
- Thread starter vww12x
- Start date
not surprised tho
I'm dealing with this now - was rear-ended and the other party has admitted fault. It is in the shop being repaired now and I have a Malibu rental.
The repair looks like it will be ~$2k but now that my carfax will show an accident on it's history my resale value will be quite a bit less than that. I used Vroom and Carvana trade-in values with and without an accident to get a diminished value amount of about $4-5k.
I'll probably be in this ICE rental for ~7 days. So would the approach for LOU essentially be the difference between Turo Model 3 rental costs + ICE fuel costs (that wouldn't have been incurred with an EV) and the rental cost of the Malibu to determine LOU?
Is a formal appraisal needed or could i go to insurance with numbers I've put together and then if I'm challenged go ahead and hire a DV expert?
The repair looks like it will be ~$2k but now that my carfax will show an accident on it's history my resale value will be quite a bit less than that. I used Vroom and Carvana trade-in values with and without an accident to get a diminished value amount of about $4-5k.
I'll probably be in this ICE rental for ~7 days. So would the approach for LOU essentially be the difference between Turo Model 3 rental costs + ICE fuel costs (that wouldn't have been incurred with an EV) and the rental cost of the Malibu to determine LOU?
Is a formal appraisal needed or could i go to insurance with numbers I've put together and then if I'm challenged go ahead and hire a DV expert?
If you call St. Lucie Appraisal they will be happy to provide a "guesstimate" of how much value your car has lost as a result of its now having an accident history. $4,000-$5,000 sounds kinda low.
