I drive a 2010 Carrera.

A drunk driver recently hit my car while it was parked. They caught the guy. My insurance is paying for damages but I'm planning on suing him for lost in car value.

How do I determine loss of re-sale value after a car accident??

The damage was to the left rear of my car. There was rail damage so the engine has to be removed to replace the entire rail. Other replaces included exhaust system, bumper,etc. Total cost came out to be $16,000 at a Porsche certified mechanic. My car has been in the shop for almost 2 whole months now...

 

Totally subjective. You'll have a hard time proving anything unless you list it and see what someone would buy it for compared to kbb. I'd be aiming to get 20-30% of the cars value. Also, Maybe somehow factor in an entertainment value lost by not having your car for 2 months.

 

diminish value is hard as hell to get nowadays, good luck but doubtful

 

Good luck with the claim but why has the car been in the shop so long ?

 

Article on insurance...see page 16 & 17 from BMWCCA Puget Sound
Magazine "Zundfolge" May/June 2013.

http://www.bmwpugetsound.com/wp-cont...013_wlinks.pdf

 

Even if you do get the diminished valued, it's going to a lot less than the actual value, when it's time to trade it in or sell it privately. Normally the insurance company will asked you to get that value from a dealer. It sucks but you are stuck with a damaged car.

 

Yup same **** happen to me. I had a z4 roadster, got it fixed by a BMW body shop. When it was time to trade the z4 in, the dealer told me it didn't even matter who did the work. Because the car had a bad car fax it was valued $2,000 less then blue book. Sorry that a-hole hit your car. So make sure you su away!

 

Here is what I was told by an adjustor:
Very difficult before selling the car as it is a subjective/potential loss.
Once you sell/trade the car, you can compare with current prices and get letter from dealer what they would have traded you if it were not damaged. If selling to a private party an affidavit that the car was sold at X as compared to Y because of the history (this will help cover you as well from the potential buyer who can always claim you did not tell him)
Then with that paperwork and your former case number you may apply for the DV to the insurance.
Good luck

 

i think you have a case since there is frame damage. you should have claimed it earlier.

talk to your insurance agent. make a claim for $7-10k as the accident is severe. they should give you at least $5k. if not, ask them to get an independent appraiser on the car.

i hope you are getting a nice rental car. sux to get into a bad accident by a drunk

 

The insurance companies can assign a automotive forensic investigator to make his recommendation. Last year I went through something similar and I received about 50 cents on the dollar plus the cost of repair. They'll look at type of accident, age of car, mileage and so forth. But you have to ask, they won't automatically give/tell you what you should know.

 

I would go higher than that given the amount of damage. My car had a light rear end hit that just involved the deck lid/spoiler panels plus a small scratch on the right rear quarter panel. Total repair bill came to $4,500 (covered by the other driver's insurance). For that I got $3,200 in diminished value compensation from his Geico policy.

 

Bottom line SU that mother #%^*....... !! I'm sorry drunk drivers should be penalize more for what they do. A few years ago I almost lost my mom by a drunk. I didn't think he paid the price for what he did.

 

how were you able to get this? did you have to put up a fight?

btw, did your repair require any replacement parts? i heard Geico requires used or generic parts on repairs.

 

I would be interested to hear too. My 911 just got hit in the rear while parked (bumper and rear hood damage). I am with Geico. I heard from my shop that Geico will indeed spec aftermarket or cheaper parts to do repairs, but this is only with their partnered or preferred shops (the ones they offer warranty with). However if they cut you a check and you take it to an independent shop, that shop can specify and fit Porsche OEM parts. You will have to pursue any warranty or issues in the future without Geico's assistance though.

My shop ordered all the necessary parts through my local dealer, and will also have a complete inspection and alignment there.

 

Well it wasn't easy but I wouldn't call it a gigantic battle either. Some resistance at first but I just made my case that my car is now worth less because of their client's recklessness. I started by paying an auto appraiser $150 which turned out to be a waste of money. His opinion was that I was entitled to $1,200 in DV. Didn't even show that to Geico.

instead, I went on Ebay and started looking for cars for sale with collision damage history. Lucked out and found one with damage similar in scope to mine. The car was advertised by the dealer as priced 10% below retail due to its history. I shared that listing with the Geico rep I was working with and about a month later he offered me $3,200.

He also made it clear repeatedly that they are not obligated by law to pay DV but may use their own discretion. I think it helped me out to emphasize that a Porsche with collision history is different from a Kia with collision history. Many buyers of Kias don't really care if the car has had body repairs and don't know how to check for it while most buyers of Porsches do know how to check for it and won't even consider buying one that's been in a wreck, no matter how minor. Diminished pool of potential buyers = diminished value.

As for parts, all of them oem, ordered from the dealership by the shop doing the repairs.