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Folks with Crashed Mustangs .. please post your Diminished Value payout

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Old 07-18-2007, 02:06 PM   #21
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Default RE: Diminished value

well, I dont know how mine will be yet...but we will see
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Old 07-18-2007, 02:18 PM   #22
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Default 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.

[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.
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Old 07-18-2007, 08:33 PM   #23
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Default 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 ...
1) When diminished value companies agree to take a percentage of your winnings they have lost all credibility in a courtroom.The argument would be that by sharing in the winnings we have an incentive to fudge the numbers in your favor to increase the amount of of our own share of the pie.
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
David is an auto repair and valuation expert with more than 30 years of experience.
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Old 07-18-2007, 10:51 PM   #24
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Default RE: Folks with Crashed Mustangs .. please post your Diminished Value payout


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.
That seems just like they did with mine, here in Texas, and I got a little over $1200. I even had a letter from the Ford dealer to back up and validate my DVclaim, that I was anticipating around $3000; didnt happen but I took it and ran, wasnt worth the fight!!! [:@]
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Old 07-19-2007, 12:05 AM   #25
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Default 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 man ur a dick. im so sick of u ( only some) v8 guys treating the sixers, especially the 4l sixers like, we drive geo metros'. what makes u so special. who cares if he wanted to make his car a mach1 tribute. eff off. its his car and personally i think what he is doing is pretty rad. its different then what alot of people are doing. dmhines sry to hear about that small dv. but once ur driving that newley fixed stang, its gonna feel so great.that gt500 conversion is going to turn alot of heads and im sure you will get alot of respect from other mustang owners. dont even listen to that jerk, and make sure its ready for the 18th cruise!
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Old 07-19-2007, 12:41 AM   #26
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Default RE: Diminished value

i didnt get one cent as far as diminished value goes.
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