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2022 DCT VN, 2005 Honda S2000
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Discussion Starter · #1 ·
So my Veloster got rear ended last week. Currently i'm trying to file for a diminished value claim with the at fault drivers insurance (Geico). My Veloster is 2022 with only 1400 miles on it. Now from the research i've done online, it looks like its on me to prove that my car lost value. However with how rare these cars are, there arent any used 2022 Black DCT N's with 1400 miles for sale anywhere much less with 1 accident worth 13,500$ of repair damage.

For those of you who have been in an accident and then sold your car, are you able to provide some proof that you lost money on the sale due to the accident? It would really help me out trying to get as much money as possible for this accident.

Thanks in advance
 

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Chalk White 2020 Veloster N w/PP
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I know somebody in New Jersey who got a diminished value claim after a rear-end accident. It was pretty bad, but the car was new, so it was fixed like yours will be it seems. I do not know the ins and outs of that. The accident will show-up on a carfax and I would think it would lower the value. You might want to consult first your insurance company and then a lawyer. Of course the person who hit now has some really bad karma for hitting a VN.
 
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Get a lawyer, I hate to advise you of this but it’s necessary if there was no police report filed, witnesses available or other evidence to support your claim against them. The person who hit you isn’t going to settle this with you and it will take a lawyer to squeeze it out of his insurance company. Diminished value is not a free y from most insurance companies. You have to fight for it tooth and nail.

Additionally, they aren’t going to give the inflated value at current purchase costs. Insurance companies have teams of adjusters and lawyers to squeeze you for less pay out. Your only way to fight back effectively is have a lawyer fight for you.

They will utilize tactics like purchasing certified new parts (from junk yards, remanufactures), not OEM parts. They will cut corners on body shop repairs and attempt to take the lowest bidder offers from only their certified repair centers. Unless you have a police reporter that shows explicitly the other driver was 100% at fault, you‘re going to have a battle getting it repaired correctly and with OEM parts.

They will not attempt not to provide you with and alternate means of transportation. They will not pay you anymore than the insureds comprehensive and collision is insured for. So, you have to go after the insureds other coverages, to pay for any additional expenses or repairs. They won’t pay your balance note or monthly payments. They won’t pay for any fuel cost in a rental. Unless you can without a doubt your in convince, they won’t pay you a dime. They won’t pay for anything, until they have sent out one of their vehicle accessors. They do this at their leisure not your behest. You need to make sure your insurance company does as well.

We‘ve been thru this several times before and it can be a pain in the tookous. I want you to be aware up front without any doubt what you are faced with. YoI need to make sure your insurance company is aware of the accident and the other individuals insurer.

I wish you all the best and they must make you whole but it’s going to be on their terms, if you don’t lawyer up. They already are!👍🇺🇸
 

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2022 DCT VN, 2005 Honda S2000
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Discussion Starter · #4 ·
Lol i guess i should have detailed more of whats already happened.

Have police report, they have deemed it 100% the other persons fault
Car is already being repaired at a trusted body shop that only uses OEM parts. The 13,500$ quote is from that body shop and he did not skimp or cut corners.
Geico is already paying for all the repairs and there is no money coming out of my pocket
Already have a lawyer who is currently trying to get a settlement for injury as we did sustain some injury which is causing us to not be able to do some of the things we normally like to do (autocross and HPDE)

I did talk to a Geico rep today and basically he tried to get me to agree that the money that they paid for the car to be repaired is the same as paying for diminished value and acted kinda stupid to see if i would drop it. I plan on pestering them about it. I'm also waiting on quote from Vroom, Carvana, and Shift to see how much they would pay for my car with the accident and then using their own sites to compare similar vehicles without accidents. At this point i'm just trying to get as much information as i can. If i need to my lawyer will just got after them for this as well, but im just seeing if they are willing to just deal with me and give me a fair payout.
 

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Diminished value as an available damages is most likely going to be according to the law in the state where you had the accident. Like everyone says, consult an attorney
 

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Discussion Starter · #6 ·
Diminished value as an available damages is most likely going to be according to the law in the state where you had the accident. Like everyone says, consult an attorney
Yup i've already done that! I'm just trying to collect as much proof as i can to show that my car is actually worth less now that it has been in an accident. So any examples would really help!
 

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Let them pursue it with Gieco. They pay claims quickly so that the owner will take the check and run. Don’t take the check and run Until your advised to by the attorney. Don’t sign anything or release your medical records to them. Give any such paperwork to your attorney. He is your mouth piece and has the stroke. Talk with your attorney, especially since there are injuries.

They‘re attempting to get you to negotiate and drop the diminished value, don’t! Let your lawyer help here.👍🇺🇸
 

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Discussion Starter · #8 ·
Let them pursue it with GIsco. They pay claims quickly so that the owner will take the check and run. Don’t take the check and run Until your advised to by the attorney. Don’t sign anything or release your medical records to them. Give any such paperwork to your attorney. He is your mouth piece and has the stroke. Talk with your attorney, especially since there are injuries.

They‘re attempting to get you to negotiate and drop the diminished value, don’t! Let your lawyer help here.👍🇺🇸
Yes thats the plan. I've not accepted anything that my Lawyer has told me not to accept. The only thing thats gone through is the estimate of the car and request to repair. Hopefully i get the car back soon, i miss it soooo much. Everything else i'm letting him deal with. just trying to get as much info for him as possible to use as ammunition
 

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Get a lawyer, I hate to advise you of this but it’s necessary if there was no police report filed, witnesses available or other evidence to support your claim against them. The person who hit you isn’t going to settle this with you and it will take a lawyer to squeeze it out of his insurance company. Diminished value is not a free y from most insurance companies. You have to fight for it tooth and nail.

Additionally, they aren’t going to give the inflated value at current purchase costs. Insurance companies have teams of adjusters and lawyers to squeeze you for less pay out. Your only way to fight back effectively is have a lawyer fight for you.

They will utilize tactics like purchasing certified new parts (from junk yards, remanufactures), not OEM parts. They will cut corners on body shop repairs and attempt to take the lowest bidder officers from only their certified repair centers. Unless you have a police reporter that shows explicitly the other driver was 100% at fault, you‘re going to have a battle getting it repaired correctly and with OEM parts.

They will not attempt not to provide you with and alternate means of transportation. They will not pay you anymore than the insureds comprehensive and collision is insured for. So, you have to go after the insureds other coverages, to pay for any additional expenses or repairs. They won’t pay your balance note or monthly payments. They won’t pay for any fuel cost in a rental. Unless you can without a doubt your in convince, they won’t pay you a dime. They won’t pay for anything, until they have sent out one of their vehicle accessors. They do this at their leisure not your behest. You need to make sure your insurance company does as well.

We‘ve been thru this several times before and it can be a pain in the tookous. I want you to be aware up front without any doubt what you are faced with. YoI need to make sure your insurance company is aware of the accident and the other individuals insurer.

I wish you all the best and they must make you whole But it’s going to be on their terms, if you don’t lawyer up. They already are!👍🇺🇸
I totally agree with RedVN. Unless you have gap insurance that covers the devaluation of your car to to cover the rest …. If that’s what you’re worry of no putting out of pocket …. I hate to say it , but you’ll need a lawyer( both insurance )will try not to pay for the incident and blame one another or blame you for other reasons and at the end you’ll loose and the other person … get a Lawyer!!!
 

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In the pre covid world things were very different. Example 3 years ago I bought a 2016 AMG GTS (sticker was 153K) that was a buyback car. I paid 73K for it with 7k miles. My friends in the industry (I have owned over 60 Mercedes and have know the manager at my local dealer for 30 years, we are good friends) told me I would probably never get that much for the car when I got bored of it. Mercedes recently said that other than the S class there will be no V8's in 2022. I got a call about a week later asking if I wanted to sell the AMG for 20k more than I paid for it (I only put 3k miles on it in three years have a lot of other cars). Well I sold it and made a spot for the 2022 VN when it arrives. Point is car values are insane right now in many cases buying new is better than buying used. Your repaired car is probably worth a lot more than you think.
 

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In the pre covid world things were very different. Example 3 years ago I bought a 2016 AMG GTS (sticker was 153K) that was a buyback car. I paid 73K for it with 7k miles. My friends in the industry (I have owned over 60 Mercedes and have know the manager at my local dealer for 30 years, we are good friends) told me I would probably never get that much for the car when I got bored of it. Mercedes recently said that other than the S class there will be no V8's in 2022. I got a call about a week later asking if I wanted to sell the AMG for 20k more than I paid for it (I only put 3k miles on it in three years have a lot of other cars). Well I sold it and made a spot for the 2022 VN when it arrives. Point is car values are insane right now in many cases buying new is better than buying used. Your repaired car is probably worth a lot more than you think.
Si true that’s why they’re trying to buy back use cars And because of manufacturing problems with chips . Even alarm companies are having problem getting parts and there’s a long waiting list ….
 
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