Accident and diminished value

Discussion in 'Dodge Challenger SRT Hellcat' started by Paladin06, Jan 20, 2016.

  1. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    As most of you know I got hit a while back and am working the diminished value path on my Hellcat. A couple questions for the community.

    1. If you had an accident, what was the total damage?

    2. What diminished value were you awarded?

    3. What insurance company paid the award?

    Thanks for your help everyone. The nightmare is almost over.
     
  2. Puffy

    Puffy Gold Member

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    When I got hit back in July, there was just over $10,500 worth of damage. However that included the cost of two BM wheels (replaced with brand new wheels) so I went with $5,000 in my DV claim. I filed the claim with the other guy's insurance company, which was Nationwide. I was awarded $8,000. I had to do some haggling since they only offered $4,000 at first. I probably would have gotten more but I didn't press the issue since the repairs were great and I won't be selling my Cat ever. Whole process took just over a month.
     
  3. Srt8u

    Srt8u Silver Member Hellcat Supporting Vendor

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    The dv claim must go through the other persons insurance claim, and they must be at fault. If that is the case then you have a claim, we have had this happen three times. On a jeep SRT we got about $7500 in dv, goal damage was about 10k on my Durango we got $5600 total damage was 16k and we are still in the process of another claim currently. We have used www.collisionclaims.com with great success they inspect the car, and write a full report and give you form letters to send to the insurance company. Great to deal with and make the process much smoother as most insurance companies will balk at DV or low ball you.
     
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  4. Mark1107

    Mark1107 Silver Member

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    So you can't file a DV claim against your own insurance company? Bummer.
     
  5. BD2DBONE

    BD2DBONE Silver Member

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    If you live in a No Fault state like NY, your own company pays your claim. Depending on circumstances they might recover from the other person's insurance.
     
  6. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    Yes, all the above is understood. He rear ended me and the claim is against his insurance (USAA). Thanks for the link. I'll contact them.
     
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  7. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    Thanks but NY, no way, no how.
     
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  8. Ohiotj

    Ohiotj Silver Member

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    If you want to get an exact figure take it to the dealership and ask them for a trade-in value with a bad Carfax. Then asked for one if it had a clean Carfax. You might have to go to two different dealerships to get that done but that's the best way to figure it out. I sold cars at Airpark dodge a while ago and if the car had a bad Carfax it really diminished value vehicle.
     
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  9. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    Thanks. Headed to the Superstitions Springs dealership today.
     
  10. huggytree

    huggytree Gold Member

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    in 10-20 years every HC will have been in a minor accident....i smashed mine up on freezing rain on my ride home from the dealer....very minor, but required a new front bumper......i worried about the loss in value, but then realized every HC will be hit or banged up at some point and my new bumper will be a normal thing....people get backed into in parking lots, kids scratch the doors up with their bikes, others will fly off the road like me......the % of un touched paint in 10-20 years will be almost 0
     
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  11. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    Well to say every is a stretch but I respect your opinion.
     
  12. 1FSTCAT

    1FSTCAT The Punisher

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    USAA is a great insurance company, both as a customer and for others with claims. They are incredible and if you have the documentation from a dealership that says there is a diminished value, just submit it.
     
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  13. Paladin06

    Paladin06 Have Guns Will Travel Staff Member Hellcat Car Club Gold Supporting Member

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    The dealer is putting together the formal document today. We went over the car yesterday and although they agreed the repair was excellent, (paint better then factory) the car will take a significant hit in diminished value. I'll know more later today.
     
  14. jgasca

    jgasca Hellcat Member

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    I'd say your completely right, but all these incidents wont show up on a carfax, a reported accident will. "IF" you do plan on selling or trading it in, the cars history will come back to bite you.
     
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  15. Cerino2000

    Cerino2000 Gold Member

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    Subscribed for results
     

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