My EVO X was involved in 2 accidents back to back and now sits in the body shop. Neither incident was my fault so I was given 2 checks by 2 different insurance companies to fix the car. My dad owned and managed a body shop for 21 years and he old me I could get money for the resale $$$ dollars lost due to the car being in 2 accidents. I got in touch with my attorney and letters are soon to go out. My question is this: Whats the best way to determine the $$$ difference between a cherry condition 2011 X and a 2011 X that has been involved in both a front and rear end collision with total damage approx 9K??? Ive been looking at blue book and ebay and cant come up with anything solid. If anyone knows something please chime in. Id love to hear suggestions. Thankyou,

 

Its going to be difficult to do, honestly. You are going to have to articulate a non tangible loss if you are keeping the car, which can be difficult. (think about investing, actual loss when you sell an investment that lost money vs the "paper loss" when it goes down but you hold it)

That said, the best thing I can come up with is getting the car repaired, and once fixed, taking it to a place like carmax or an appraisal service and having the car appraised. From there compare it to what the resale value should be for a clean, non crashed car and make the claim based on that. Having a lawyer do it for you is smart, because the insurance companies will absolutely blow you off even trying to make that claim. Make sure part of your claim against them is any legal fees incurred during the process.

Good luck, sorry about the car.

 

Unless you already have an attorney on retainer or they are friends or family, it doesn't make much sense to involve an attorney. Their fees will take up a lot of what you would get. I would suggest you talk to the insurance rep who offered you checks and try to haggle with them for more money. They always have wiggle room and are typically overworked and would rather settle with you than drag it out for a while. Just back up your claims with data. Look for what cars like yours are selling for now and try to find one similar to yours with similar repaired damage. This would allow you to show that repaired vehicles like yours are selling for $XXXX less than vehicles that have have never been in an accident.

I would fight for extra money, but depending on the damage it might not hurt resale value. $9000 of damage isn't as hard to do with newer cars. If main structural components of the car were left unharmed you should be fine. I have sold cars with accident damage and as long as the frame is unharmed it hasn't hurt my resale. If anything it occassionally can help. The repaired car may have lots of newer parts and paint that the new owner appreciates. I would not be afraid to buy a car damage that was properly repaired and wasn't significant/structural.

 

Certainly not trying to be argumentative, but I cant tell you how much I disagree with that post. Ive worked as an insurance adjuster in a previous career, and I'd tell you for certain that *any* damage affects resale value, especially if it involves changing any VIN'd body panels or frame alignment. And it will affect it to the tune of thousands of dollars. Just having paint work alone can devalue a car significantly, even if all the vin panels still match.

The only way you get by is with an untrained buyer. Sometimes people get bumpers re-sprayed from rock chips, or a minor scrape up. If the work is quality, the casual buyer is going to check VIN plates and probably wont notice the paint work, and its NBD. Take it to an appraiser, a dealership, or someone who knows that they are looking for, and it might cost you some asking price, or they might pass on the purchase/trade all together.

Personally, I will not buy a car that has been crashed, period. If i see any signs of paint work to the bumpers or fenders, even if the carfax is clean and the VIN plates match, I will not buy the car.(with few exceptions)

Having paint work to your car always has the potential to cost you money on the back end. Having body work will *ALWAYS* cost you money on the back end.

The one part I can agree with is potentially haggling with the adjuster on your own before suing for lost value, but it usually doesnt get very far. Adjusters have a little wiggle room, not a lot, and its based on what work needs to be done to repair the car based on appraisal and actual estimates once apart. "loss of resale value" isn't something that is in their discretionary budget lines for payment, unless that has changed since I left years ago. Usually its not even a matter of convincing the adjuster that you may be entitled to that payment, its that adjuster doesn't have the authority to grant it at all.

IMO I think the best thing to do is have the lawyer send the letter for what you are claiming as loss value plus his filing fee to see if the ins co will pay you the 'go away money' and leave it alone. If not, you will have to file civilly in claims court and add the legal fees to the claimed bottom line.

$.02

 

Attorney fees are a non issue here. Getting the car appraised at carmax or similar is a great idea, thankyou for that nugget of wisdom. Whenever Ive sold a car I ussually get the buyer who shows up with magnets to check for bondo or the guy who follows you home from the mall parking lot "just to see where you live"

Ive always been asked about accidents. It makes a difference, huge maybe not, but a diffference non the less.

 

I too am in the Auto repair industry and agree that this is the best and most effective way to get these things handled. Not to say that I haven't seen other ways and different scenarios. However, the problem arises because you cannot actually determine the cost differential between a damaged and non-damaged car. Also to what extent because shops do exist that repair vehicles to factory specs. Therefore not all repairs are created equal/ loss in value after repair. Well done KurtP!

 

Evo doesn't have a frame to damage, right? I did appraisal work for a few years and it was my understanding that a properly repaired car was considered "made whole" again. I would think it would be tough to get a judge to award anything beyond repairing the car. But can't hurt to try, I would be very interested in seeing the outcome. The only way I see a judge giving money for value loss is maybe with a classic or something. But I'm no judge, hopefully I'm wrong.

 

if I recall correctly even brand new cars can have some bondo in them. Damage in transport. I understand the thought process of not wanting it there but if done correctly it will last a lifetime.

 

A "new" car needs to be pretty much that in most states.

In CA, for example (given the location of the previous poster), you must be told of any damage that exceeds 3% of the car's value, was due to a theft, or is to the drivetrain, suspension, or safety features. The only damage that they can keep secret (up to something like 10% of the value of the car) is that to tires, wheels, bumpers, etc, assuming that they were replaced with identical new parts.

Note, however, what you are agreeing to when a dealer says "oh, by the way, I'm giving you a great deal because this is a demo." A demo is not a "new" car; it's used, so they don't have to tell you a darned thing. A lot of demo cars were just regular cars that were damaged in transit and couldn't be sold as "new" without disclosing the damage.

ps. I am not a lawyer; I just read a lot (and have had it proven recently that I have a lot more to read)

 

I was simply speaking from personal experience. I have never had a vehicle with body work sell for less than what other similar cars without any body work. I have sold too many cars to just say I was lucky. I keep my cars in great shape and keep every maintenance record. Anybody who has bought a car from me hasn't been bothered by bodywork once they see it was a quality repair. If the OP has people show up with magnets to check for bondo or they typically follow him home, he may not have a similar experience. I was simply sharing my previous experience as consolation that it may not be as bad as he thinks when it comes time to sell.

 

If attorney fees aren't an issue, just have your lawyer handle it. The only downside to using a lawyer is the fees they charge, and if that isn't an issue just go for it. Let him/her deal with the insurance company. You can do it without a lawyer, but it takes more time. Let him/her do all the dirty work and you just wait for a check.

 

I think the point is to identify a process under which a car's value can be determined after an accident in comparison to its value if the accident didn't occur.

 

What I've done in the past is work directly with the person at faults insurance company. At first they tried to submit a low ball offer, but after much research I came across a term called "Depreciating value".

Depreciating value is the $9k loss you are referring to. What you need to do is find cars on the market for sell that are equipped exactly like your car. Next you need to take your car back the dealer and get documentation from your salesman stating what the car would sell for on the wholesale market. I say wholesale, because cars that have been damaged can no longer be certified (at least this was what my dealer told me). Note this was on a Mercedes Benz which is considered a premium vehicle. I don't know if it will apply to Mitsu's, but it doesn't hurt to try.

At this point my dealer wrote me a letter stating what they would pay for my car and a car equipped just like mine that is accident free. In my situation the difference in value was substantially larger (6X more) than what the insurance was trying to pay me.

Now the hard part. Convincing the insurance company. I basically had written documentation from my dealer proving the cost of my car, vs one like it. Quotes from dealerships that were selling cars identical to mine. KBB, Edmunds and NADA data. I also had a quote from Carmax for what they would pay for my car.

In the end I had to haggle with the insurance company for about 6 months before they cut the check. If you are persistent and provide data to back up your claim, you can get the depreciated value.

Now to come out ahead financially, throw that money in the bank and never ever sell that car. Drive it until the wheels fall off, then bolt the wheels back on and drive it some more.

I hope this helps.