Mechanic backed into my TR. Diminished Value Clain?

Its minor enough I doubt I would. Take and keep a few very good pictures of it so you have evidence for a future sale how minor it is.

It sucks but thats life.

 

The diminished value if you were successful would probably be a few hundred. Not worth your time to pursue it.

Sent from my GM1917 using Tapatalk

 

Can you even get a car fax on a testarossa, I guessing they will not go thru their insurance anyway, just paying directly or trade out in work.

 

So sorry to see this. I'd lose my mind.

 

In Texas, DV would 100% be worth it , I know 1st hand of a case where a TR was damaged in a similar fashion as this, and the claim was being worked towards a $XX,XXX evaluation, no kidding! The problem is/was, that with prices they way they are currently, EVERYTHING, damaged or not, is bringing more money than ever. The owner actually put his TR on BAT and sold it for MORE than it was worth, effectively killing the diminished value claim.... ugh! **

The challenge is finding an attorney who has the portfolio and access to Ferrari specific values that can present to the insurer in a manner to win the case.

My understanding is the law varies State to State and you must have an attorney who is motivated and experienced in DV claims.

A family law attorney isn't going to get very far.


On the other hand, I would ask the shop if THEY would cover the cost to repair without making an Insurance claim so that you didn't have to go after DV. Telling THEM that in advance is putting them on notice that you intend on filing for DV, their insurance company will be the 1st person you go to for it, if they don't pay that you would be going after them to cover the deficit... if its not on insurance, they're wouldn't be any DV in theory.



Steve

p.s. May I also suggest you either agree to a flat fee ( $1000.00 ) or a % of the payout ( 30% would be fair ) in advance of hiring said attorney.

 

Awful. Feel terribly bad for you - I’d be heartbroken.
Hope you get it resolved to your satisfaction.

 

My car was out of my hands 3 times over the last 25 years and was damaged each time.

Twice body damage and once an interior trim piece.

No wonder I do my own work.

 

This goes for all 50 states. You can make a third-party claim for the inherent diminished value of your car. Whether the incident appears on CARFAX is irrelevant. The car has a repair history and a seller is obligated to disclose that anyway. Rule of thumb with a Ferrari, minor damage will cause the car to lose from 10% to 15% of its pre-accident Fair Market Value. Structural damage or air bag deployment, however, basically slices half the value from the car. Dealers can't certify it and banks won't finance it. Hire a savvy independent appraisal firm that does its research with sales managers at Ferrari dealerships instead of one of these formula or algorithm guys. Even though cars are at a premium, no dealer will pay full value for a previously wrecked car. Best of luck.

 

Wow that sucks! Didn’t u just get it too?


Sent from my iPhone using Tapatalk

 

if the car would be new I would try. but the car is old and when the repair is done good then there is no need for diminished value. but you may talk to the garage owner if he will lower his bill to you because of the trouble you have now. asking is for free

 

before they paint the car have a look if the damaged part it "straight" again. the us paint shops ar every good with cosmetic. sometimes there is 2 and more cm ülasetr on it and when painted you not see. so be carefull ! ! !
and because of this little damahe there is no need for the garage owner to use his insurance. I think he knows the paintshop owner and one hand is washing the other. so he will get the job done for less than 500 US $ if he works otherwise with this paint shop together. may be he will get it for free? connection is the half life

 

Most folks aren't aware of the difficulties they will encounter with auto diminished value claims after collision repairs. Insurers do not like writing $10K checks for DV. Every Ferrari owner should know this - if your car is involved in another not-at-fault accident and there is severe damage to the car, no matter how minor a previous repair was, insurers will attempt to use it as an excuse for denying the second accident DV claim. A $100,000 car can lose up to half of its value (ask any dealer) if structural damage or air bags were involved. But you won't collect a dime for DV without litigating if the car was previously wrecked.

 

Single stage paint, they no longer produce that product for US consumption from the factory Glasurit paint. That means you're blending OR you are repainting a whole fender. That involves removing the strakes, the weatherstrip around the rear window, etc. I would ABSOLUTELY require diminished value as the paint measurements will be different there. No way I'd allow an insurance loss against my car to go unnoticed.

You may have to get a private valuation on your car and find cars with repairs that are comparable to yours. You'll rarely see a collector car with repaint that sells as high as original paint. In my opinion, you should really see what your repair is going to look like. I'd not be happy with them mudding that full of bondo and being done...you'll notice it every time the light hits it and it will be evident when you go to sell.

 

there i no need to repaint the complete fender, even not with water based paint. you may use this water based paint for the damaged area and then the clear 2 compound paint in clear not only on the repainted parts, about 50 cm more away and when dry polish and when the job is done right you not see any difference. problem is to match the exact color

 

That is why we blend and fade. Makes the match easier.

 

Whole panel looks buckled.

 

may be because of the light optical illusion?

when I see the rear pumper it is an other color than the fender, looks more pink. so already repainted by a not so good painter?

 

and when this is done right you not see a difference.

 

Correct. Been doing it for years. Painted fire trucks. The level was show quality.

 

This appears to be headed for an "Off the Record" resolution.

That's really minor damage, and as others have stated you have NO IDEA how hard insurance fights the whole "Diminished Value" concept!

The age as noted plays against you.

I once mentioned it to an adjuster looking to repair my car.
He looked at me and said: "We know how Ferrari owners drive, I can just assume this car has been damaged xx times, since 1977!!!"

Then he added $500 to the estimate for "Race Car graphics" and cut a nice check.

As it's YOUR new team of technicians, that had the mishap, you have no idea how much goodwill you will earn being the "No big deal" Ferrari owner.

I had a fence gate at a shop blow into my freshly painted car, scraping the fender to metal for several inches...
The red headed Barista said: "OMG!!! I'm SO sorry! Would like a free Exoresso Sir?"


I said; "Sure my shop probably still has the color in the gun, no big deal"
Be that guy..........

 

That is my Ferrari Dealer's response, to the whole "Diminished Value" subject.....

 

Agree. You will win friends and influence people.