I did a forum search but just wanted to know if one company, service, or appraiser is recommended (i.e., used with positive results) among the many.
Thanks.
Would this apply to a lease which was rear ended and now has much less value/equity due the accident on the carfax report? We are considering buying it at lease end
YMMV, but generally it’s a whole lot less likely as opposed to an owned car as it’s well, not yours.
Sorry. Oddly, the site did not notify me of any replies (I saw them under Suggested Topics in another post).
This would apply to a vehicle I own. A tree fell on it while I was at a hotel. Someone from the hotel mentioned it, so I thought I would look into it. I found an informative thread but wondered if anyone on the forum had experience with any companies suggested.
Another member posted this. Forgot who it was.
"Yes, obtain an auto diminished value appraisal from a highly rated company
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No personal experience with him but ended up following him on FB after someone mentioned him and see a lot of examples of getting higher total loss settlements and diminished value: Billy @ Collision Safety Consultants, collisionsafetyconsultants.com
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Bill is a good dude and a car guy. I would recommend him.
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I have been tempted with my Tesla but the body shop is telling me it’s a waste of time for a car with 2k damage done.
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If you bought that car go for it. Bottom line is when you go to trade it in or sell it privately you are going to get less than market. So damage is $2K, but I bet a dealer trade in will be $7K or more less than if it had a “clean” carfax.
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It isn’t the cost of the damage but the fact there is damage there. People would be less likely to buy it and if they do they will want to pay less.
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Thanks, Yea I own it 2018 model 3 with 50k miles, I was going to trade it in for my S but they only offered 22k for it, Rather just give it to my kid at that price.
I am glad the hotel Manager mentioned this; I am looking at an approximate range of diminished value of $10,500 - $11,500 (three estimates).
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Who did you use for the estimates. Please keep this thread updated!
People mentioned diminished value but would love to see a case play out. This could be very helpful to all LH members. Thanks!
The best ones are a dealership you’re friendly with. Prob the original dealer you bought from.
I finally got turned down on diminished value after 2 successful attempts on leases in the past. My tundra was hit twice and it def nullified all my equity. Sucks…they were superficial minor fixes but still hit Carfax.
If you get turned down, Sue in small claims the person who hit you, Soon as that happens they will turn it over to the insurance who will then pay.
Even if leasing bank owns the vehicle? I think they have to sue…