Folks with Crashed Mustangs .. please post your Diminished Value payout
07-18-2007, 02:18 PM
#22
RE: Diminished value
quote:
ORIGINAL: 331StrokerFox
Wow, dmhines, all that for a V6? Mach 1 Stickers?And a GT500 conversion? You are the reason that Mustang Drivers have a bad name.
[sm=WTFsgign.gif]are you talking about having a bad name? What did he do? Its his car and he can do what he wants. Noone can tell him how to spend his money, besides he is going through enough **** right now because of his situation. Layoff the guy, newbie. I dont think you are going to draw many customers to your place by coming into a new forum and blasting off on random people.
ORIGINAL: 331StrokerFox
Wow, dmhines, all that for a V6? Mach 1 Stickers?And a GT500 conversion? You are the reason that Mustang Drivers have a bad name.
[sm=WTFsgign.gif]are you talking about having a bad name? What did he do? Its his car and he can do what he wants. Noone can tell him how to spend his money, besides he is going through enough **** right now because of his situation. Layoff the guy, newbie. I dont think you are going to draw many customers to your place by coming into a new forum and blasting off on random people.
07-18-2007, 08:33 PM
#23
Join Date: Jul 2007
Location:
Posts: 4
Diminished value experts shouldn't take percentage
ORIGINAL: dmhines
The problem is ... all these diminished value companies seem like a scam to me ... I was posting on here to hope somebody would chime in that they had luck getting a decent amount of money for DV. The only evidence I have seen are testmonials on their websites. Even here in my thread ... a DV appraisal company comes on and explains all of the same information that is available anyplace on the internet and then advertises his companies website. If these places were legitimate they would take no money up front and take 25% of the money they make you. So far I have found they want $350 - $375 up front with no guarantees... then additional money if they have to negotiate for you or go to court and testify. If it walks and talks like a duck ...
The problem is ... all these diminished value companies seem like a scam to me ... I was posting on here to hope somebody would chime in that they had luck getting a decent amount of money for DV. The only evidence I have seen are testmonials on their websites. Even here in my thread ... a DV appraisal company comes on and explains all of the same information that is available anyplace on the internet and then advertises his companies website. If these places were legitimate they would take no money up front and take 25% of the money they make you. So far I have found they want $350 - $375 up front with no guarantees... then additional money if they have to negotiate for you or go to court and testify. If it walks and talks like a duck ...
2)When the insurance company sees your expert isn't credible, you have lost the fight before it even gets started because your expert will be disqualified.
3) DV experts like myself are appraisers of a car's value, not collection agents. Your ability to collect will be based on your own negotiating ability or on the ability of the lawyer you hire to represent you. We just provide the numbers that you need to assert your claim.
4) I work only in the states of OH, KY and WV where I am most familiar with the laws and insurance company practices.My goal in posting was to dispel theinformation that was wrongly stated in this thread and tohelp you obtain correct information at no charge. I'm sorry if you were offended.
David Williams
Diminished value expert
07-18-2007, 10:51 PM
#24
4th Gear Member
Join Date: Aug 2004
Location: Texas
Posts: 1,615
RE: Folks with Crashed Mustangs .. please post your Diminished Value payout
ORIGINAL: 8178A
I’m not sure how it works in other states but in Georgia it works like this:
1. Establish NADA book value.
2. Determine base value = NADA X 10%.
3. Determine damage severity. This runs from 0 to 1.0 for severe damage.
4. Determine mileage modifier. This runs from 1.0 (0 miles to 19k) to 0 for 100 K.
5. Use number from 2 X 3 andresult X 4, e.g. a car listed as $26,440 NADA, with minor damage and low miles comes out to $661.
So with this calculation the most you would receive with major damage and low miles would be 10% of the NADA value.
I’m not sure how it works in other states but in Georgia it works like this:
1. Establish NADA book value.
2. Determine base value = NADA X 10%.
3. Determine damage severity. This runs from 0 to 1.0 for severe damage.
4. Determine mileage modifier. This runs from 1.0 (0 miles to 19k) to 0 for 100 K.
5. Use number from 2 X 3 andresult X 4, e.g. a car listed as $26,440 NADA, with minor damage and low miles comes out to $661.
So with this calculation the most you would receive with major damage and low miles would be 10% of the NADA value.
07-19-2007, 12:05 AM
#25
5th Gear Member
Join Date: Jun 2006
Location: Rome,GA
Posts: 2,286
RE: Diminished value
ORIGINAL: 331StrokerFox
Wow, dmhines, all that for a V6? Mach 1 Stickers?And a GT500 conversion? You are the reason that Mustang Drivers have a bad name.
Wow, dmhines, all that for a V6? Mach 1 Stickers?And a GT500 conversion? You are the reason that Mustang Drivers have a bad name.
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