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Diminished Value Claim on Insurance after someone rear-ended me

Discussion in 'Buy, Lease, Finance & Insurance' started by bkearle, Nov 11, 2016.

    • Member

    bkearle

    Post Count: 1
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    Hi all,

    First time poster, so forgive me, I haven't learned protocol yet. I had my semi-faithful E53 for about 9 years and decided to trade it on a 2011 535i in September. Well this week, while I was parked on the street, one of my neighbors plowed into it (pretty hard). Of course their insurance is covering damages, but to be honest, I was looking to trade it early next year for another X5 but that doesn't look like it's going to be feasible since I'm now upside-down on my loan since the Carfax now has the accident listed.

    I thought it would be a simple matter of having my dealer appraise the car, first without factoring in any damage, and then factoring in the ~$5k it's costing to repair, as well as its new Scarlet Letter. My SA told me, and I'm quoting from his email, " Hendrick Automotive Group do not do estimates for diminished value situations it tends to get messy. I have been down that road before with a personal experience"

    Can anyone offer some advice on how to handle this? I know if I bitch enough they'll make a settlement offer, but it will be some low-ball figure no doubt.

    Thanks,

    Ben
    • Member

    MGarrison

    Post Count: 3,859
    Likes Received:241
    Not quite sure what you're wanting to do? You need the appraisal because the car is totaled? Or you're trying to argue the point of diminished value with your neighbor's insurance company to.... get a check in addition to them covering repairs? You're hoping for what kind of settlement from whom?? What's the optimal outcome you want?

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