| Author |
Message |
Erich Walz (Deleteall)
Junior Member
Username: Deleteall
Post Number: 103
Registered: 12-2001
| | Posted on Tuesday, July 30, 2002 - 2:44 pm: | |
Yep, it all depends on why you need to know. If its your car and you're looking to get money from an insurance company they usually require a report from a certified appraiser. However, other "in the know" people can qualify as experts as to value if it gets to court. Insurance companies don't mention DV to claimants and require you hire the appraiser; however, they do recognize it as a legitimate claim/loss. A friend was going to have one done for his late 90's saturn 4-door (with high mileage) and Insurance Co was ok, just follow these steps.
If you're looking to buy, Tom is right, it depends on the damage, who repaired it and how much they're asking. Significant damage even repaired by an expert will not be viewed favorably(IMHO). For example, some people will simply not buy a car that has had frame damage. I've heard a rebuilder title even repaired properly should be reduced around 25% of a non-wrecked car. Regardless, make sure you don't end up with a car you can't sell or will need to discount heavily to get rid of.
What are the specifics? |
TomD (Tifosi)
Intermediate Member
Username: Tifosi
Post Number: 1131
Registered: 9-2001
| | Posted on Tuesday, July 30, 2002 - 10:40 am: | |
my sense is he is asking how much you would discount a car having been in accident and fixed versus one that was not. - My answer - it depends on what kind of accident and who did the fixing, and the quality of the job.
for example - minor fender bender fixed by a reputable repair shop - prob discount nothing.
a high speed crash with frame damaged fixed by Joe Blow - discount a lot prob would not buy.
give us the specifc sennario |
Martin (Miami348ts)
Advanced Member
Username: Miami348ts
Post Number: 2521
Registered: 5-2001
| | Posted on Monday, July 29, 2002 - 8:26 am: | |
The Ferrari Dealer should be able to give you a good idea if he bought your car as a straight car vs a accident vehicle.
There is car appraisers that can determine the value as well. YOu definetely want to get somebody with credentials so you can put him on the stand to testify if you need to take the insurance company that far.
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yasir saifullah (Yasir)
New member
Username: Yasir
Post Number: 4
Registered: 7-2002
| | Posted on Sunday, July 28, 2002 - 5:32 pm: | |
Guys,
As the post reads can someone shed some light as to how to determine the diminished value after an accident.
Regards, Yasir |