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Car crash. Diminished value new car help

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Comments

  • #62
    EV01
    Registered Users, Registered Users 2 Posts: 150 ✭✭EV01


    No insurance policy and no jurisdiction provides no-fault diminished value compensation

    Any such claim should be submitted to the at-fault driver's insurance company

    You’d have to prove the financial loss claimed (a LOT of work and it will all be challenged)

    The best you can hope for is they are prepared to negotiate

    …otherwise It’s Off To Court We Go! £200 for a solicitor’s letter suggesting this might be worth spending even tho you’d never do so (seriously, don’t) - the other driver’s insurance company won’t know this



  • #63
    cpoh1
    Registered Users, Registered Users 2 Posts: 1,610 ✭✭✭cpoh1


    wondering how this one panned out. A family member is in the same boat where a 3 yr old premium SuV with book value of 70k has needed 2 doors and full rhs respray coming to 8k after no fault collision on her part and insurance are only offering €600 diminished value based on repair costs. She has checked with the dealership and they are telling her its worth 5k less on trade value as a result post repair (shes currently looking to trade in and upgrade).

    They are offering 10% ex vat of repair costs which for me has no link to how much the cars value has diminished as a result of the added damage history.



  • #64
    bazz26
    Registered Users, Registered Users 2 Posts: 51,763 ✭✭✭✭bazz26


    Did she tell the dealership about the repair up front or is the repair being done through them? My feeling here is that they are taking full advantage of being privy to knowing it is or has been repaired, in their trade in valuation. Will they retail that car at 5k less than a similar non repaired example on their forecourt? I'd doubt it very much. Would be interesting to get a trade in value from another dealer post repair without voluntary disclosure, for comparison.



  • #65
    cpoh1
    Registered Users, Registered Users 2 Posts: 1,610 ✭✭✭cpoh1


    Yep, dealer completed the repair. Theyre claiming they have to disclose accident up front and that its recorded as an insurance repair.

    She checked with another franchise dealer who spotted the repair history on the system with the reg, slightly less reduction in value from the original guy only 1k more offered.



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