Diminished Value
#1
Diminished Value
My wifes vehicle (not the Audi)was recently rear ended, resulting in significant damage to the frame, both rear quarter panels, roof and who knows what else. Estimates are forthcoming, but the age of the van (2.5 years) is such that a write off is not likely. The concern now is that when we do go to sell, the carfax report will show extensive restoration and thus reduce the resale value as compared to an equivalent vehicle w/o the repairs (thus the term diminished value). One example may well be that CarMax would not consider purchase due to the frame damage. This is highly sensitive topic in the insurance industry, as the current cost model is based on repair and does not consider diminished value. I have an opening to get a claim in, but need to provide documentation supporting my claim. Specifics on the documentation requirements are not offered.
Im looking for anyone with experience in this area, or suggestions on how to get an assessment of "dimished value".
-- Edit --
Searched the forum after this was posted and did find a relevant thread. The key seems to be getting the right minded appraiser. Any one have a contact?
TIA
Romac
Im looking for anyone with experience in this area, or suggestions on how to get an assessment of "dimished value".
-- Edit --
Searched the forum after this was posted and did find a relevant thread. The key seems to be getting the right minded appraiser. Any one have a contact?
TIA
Romac
Thread
Thread Starter
Forum
Replies
Last Post
Corey
A4 (B5 Platform) Discussion
6
02-07-2005 10:47 AM
Bill In SoCal
A4 (B5 Platform) Discussion
4
02-19-2002 10:12 AM
VWtoAudi
A4 (B5 Platform) Discussion
0
12-17-2001 10:19 AM
Brian-PA
Wheels & Tires Discussion
0
01-21-2001 06:29 AM