05 Mustang

+1

It'll definitely show up anytime someone runs a history report...causing you less value....whether it's trade-in or out right sold by you. Before signing any release papers with the insurance company paying for the damage, I'd make sure you get something for the lost value.

pascal

I read somewhere that 90% of people don't even ask for diminished value because they don't know about it, most likely.
The Insurance Cie sure isn't gonna mention anything to you about that.

xomustangchick

So i have to say something about it before i sign anything from the insurance? is there any way they wouldnt give you the money?

TRexGAWD

They wont do it for older cars.. Reason being is the fluctiating value of an old car is too hard to determine any diminishing value.. I'm sure yours will be fine as it's only a few years old (I think it's anything over 7 years old wont qualify but I'm not sure).. And yes, you should say something if they don't bring it up (which most likely they wont). Call them and say you want to file a claim for it.

xomustangchick

yeah my cars only 3 years old and was alot of money so they better give me money for the diminishing value. i guess ill have to call and see what i have to do to get it.

Distract

I haven't been on in awhile but am back now and could use some input if possible. I was rear ended, then sandwiched into another car Sept 8, 2012. Having a TON of problems with insurance. First they were going to write it off, then they decided to try to fix it. There is over $13,000 damage. Now I'm also told to re sell it after repairs, it's only worth $7,000. Needless to say I'm furious. Any tips? I will post pics in a day or so - busy with darn physio now.

07grabber4.0

I'm sure with that much damage they will just say its totaled. What year is it? 13k is a lot of damage I'd rather just get a new car then fix that

Bronson006

Distracts car is a 2010 V6 Convertable... approx 57000 klms the car was in immaculate shape before the accident...

Distract

I am going to collision place Tuesday after holiday to find out what's going on. NOT happy about whole way insurance has handled this but they kinda have you over a barrel right?

Distract

Hey everyone, sorry for the long delay. ALOT going on.
To summarize what happened after my accident in the fall. My car was in for repairs for over 7+ weeks. Total damage was almost $12,000 and they "fixed" it. It has been driving fine, no problems.

I went in to get an estimate on my car because even my bank suggested I flip it after I've had it 1 year so I retain "some" value. Well "some" is the operative word for sure. I had $12k in damage, but LOST $20K in equity on the car. It is now only worth $10k. So now I am searching for another Mustang that is in great shape, with a lower price so that the $20K I still owe can be buried in the price at the end of the day.

I swear, it would have been SOOOOOOO much better if they would have written it off........I would have gotten alot more for my car.