Diminished Value

[spiffy1001]

Has anyone bought A Vibe with a recorded wreck on Carfax? I am working on a Diminished Value claim for an '09 base with 1,100 miles and a rear end accident. Would you mind sharing the mileage at time of purchase as well as VIN and price you paid?If you are uncomfortable sharing this whatever you are willing to give me is appreciated.

[Kincaid]

I'm an insurance adjuster, but do not do autos, so I doubt I'm much help.But....do Texas courts allow claims for diminished value? I know that is a recent theory (and fairly valid especially given the advent of CarFax and the like) but I think a lot of jurisdicitions don't allow it.

[spiffy1001]

The insurance company is taking it. I don't know the laws, but they asked me to gather info on how much value was lost. Once I give them my thoughts and research they said they would make me an offer.

[TONY TAT2]

Good Point,I was gona do that when my 07 G5 That I bought new was involved in a accident. I was concerned about trade value. I went to edmunds.com & got their Trade in estimate. It was close to what the dealer offered me, So i bought the Vibe. I like the Vibe Better anyway & again I have a new accident free ride.The other driver was at fault so their Insurance Co paid my deductable etc. I didn't opt for a loaner, just drove the 85 vette, it was winter but I've drivven Vettes in the snow/ice plenty of times. Good luck & let us know how ya make out !

[03vibedriver]

Hi the diminished value as a general rule is approximately 25% of the total repair cost. http://www.csiofnc.com/dv.aspx

[TONY TAT2]

Good Link

[Kincaid]

Also it might help if you got some used car dealers to give you something in writing - that was how the auto appraiser's used to do it - just get them to tell you how much less they think they'd be able to sell one for now that every customer will know it was in a serious accident.