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Depreciation in car value after a crash?

jazyguy · 2009-02-12 22:30:02

A woman crashed into my parked car last week, nad admitted liability. Her insurance company have agreed to pay to repair the car, estimated at €5000 damage but as a friend pointed out to me even after the repairs my car will have lost a lot of value as it will have been in a crash, any ideas if im entitled to compensation…

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12-02-2009 11:30pm

#1
jazyguy

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A woman crashed into my parked car last week, nad admitted liability. Her insurance company have agreed to pay to repair the car, estimated at €5000 damage but as a friend pointed out to me even after the repairs my car will have lost a lot of value as it will have been in a crash, any ideas if im entitled to compensation from the insurance company also? Thanks.

Tagged:

insurance

car crash

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#2 12-02-2009 11:39pm
Seth Brundle

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Its possible but it would depend on the car and also the damage incurred

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#3 12-02-2009 11:41pm
DaveD

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What car and year ?

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#4 12-02-2009 11:50pm
Kafer

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I was told 10-12% of the value of the repair last week by an assessor. We are in a similar situation after our Passat was hit.

Their arguement is that the car wont depreciate any more than normal if its repaired using genuine parts and by a reputable repairer.

You are looking at about 500 euro for your troubles.

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#5 12-02-2009 11:51pm
Mr Benevolent

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Yup, it's normally around 10%.

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#6 13-02-2009 12:17am
L-M

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Kafer wrote: »

Their arguement is that the car wont depreciate any more than normal if its repaired using genuine parts and by a reputable repairer.

Aye +1 on that.

I wouldn't see a problem with a car if it was crashed, as long as it was done right.

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#7 13-02-2009 1:05am
galwaytt

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Limerick man wrote: »

Aye +1 on that.

I wouldn't see a problem with a car if it was crashed, as long as it was done right.

....of course you wouldn't, as a seller........and a petrol head

However, Joe and Josephine Soap wouldn't touch one - irrespective. 20% would be a minimum, I'd say.

Don't believe me ? See here, post #7.... http://www.boards.ie/vbulletin/showthread.php?t=2055487321

Ode To The Motorist
“And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road”

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#8 13-02-2009 7:57am
TheBazman

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Someone backed into my wife's Golf recently - small damage to both doors - I asked her to mention a depreciation allowance when the assessor when he came out to look at it - all she got was a blank look as if he didnt know what she was talking about. In fairness the amount of damage was minimal and was fixed by a main dealer

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#9 13-02-2009 8:54am
robtri

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10% +/- 2% is generally the accepted figure in the insurance game for additional depreciation to a vehicle after being involved in a crash and repaired, that they will pay out....
you have to ask and push for it, but it is available....

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#10 13-02-2009 9:38am
OldmanMondeo

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Limerick man wrote: »

Aye +1 on that.

I wouldn't see a problem with a car if it was crashed, as long as it was done right.

Problem is most car dealers will. Fathers in laws new car was rear ended a few weeks after he go it, car is now only 2 years old, dealer said he would have to knock €1k off the trade in price because of the accident damage, even through that main dealer fixed the car.

With saying that, the other guys insurance paid out no problem and even sent the cheque for depreciation without the FIL asking or even knowing about it.

Some insurance companies will not give it if the car is over a certain age, i think 4 years old. Sure ask anyway.

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#11 13-02-2009 10:29am
jazyguy

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The car was 06 Renault Laguna with a market value of about €14500, There was €5000 worth of damage done to it, thanks for your help.

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#12 13-02-2009 11:36am
L-M

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OldmanMondeo wrote: »

Problem is most car dealers will. Fathers in laws new car was rear ended a few weeks after he go it, car is now only 2 years old, dealer said he would have to knock €1k off the trade in price because of the accident damage, even through that main dealer fixed the car.

Really? Sounds a bit odd, although i don't think i've come across alot of people who genuinely told us the car wash crashed. Wouldn't knock off 1k either unless it was very badly done.

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#13 13-02-2009 12:21pm
OldmanMondeo

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Limerick man wrote: »

Really? Sounds a bit odd, although i don't think i've come across alot of people who genuinely told us the car wash crashed. Wouldn't knock off 1k either unless it was very badly done.

Well it was the dealers he purchased the car from, so they would have known that it was crashed as they were also the people who repaired it. It did take a bad rear ending. He would have told them anyway as he is a honest person. I will also tell them myself if it was me trading.

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#14 13-02-2009 12:24pm
MrPudding

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I got 10% of the repair cost, though apparently it should be on the ex-VAT cost.

MrP

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#15 13-02-2009 2:11pm
galwaytt

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MrPudding wrote: »

I got 10% of the repair cost, though apparently it should be on the ex-VAT cost.

MrP

LOL, now they're putting VAT on crashes too ??

Ode To The Motorist
“And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road”

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#16 13-02-2009 2:25pm
MrPudding

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Posts: 9574

Robbing b@stards don't you know..

MrP

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#17 13-02-2009 2:30pm
PauloMN

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Car has to be under 4 years old to avail of depreciation compensation according to my insurance company. Some scumbag in a robbed motor hit mine a few months back and the bill came to over €6k. Claimed through the insurance company who claimed it from the MIBI, but was told no depreciation allowance for me as it's an '03 motor. Had to pay the excess as well.

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