Automobile Diminished Value Appraiser in all 50 States

Featured

A vehicle owner has the right to make an auto diminished value claim against the insurance company of an at-fault driver who causes damage to their motor vehicle. The term “diminished value” means your car is worth less after being repaired because of the bad Carfax or Autocheck vehicle history report. Naturally, consumers prefer buying used cars that weren’t previously wrecked. Automobile dealerships are usually the ones to break the bad news to new car buyers bringing trade-ins. Because of previous repairs, regardless of how minor the damage was, dealers are forced to offer thousands of dollars less for these cars. This also applies to cars that were repaired perfectly – a bad Carfax is a bad Carfax and that’s enough to dissuade most potential buyers. Cars that had structural damage or air bag deployment can’t be certified and banks will not finance them. The majority of dealers can’t retail these vehicles and usually send them straight to auction. Wikipedia tells us that a diminished value appraisal evaluates the difference in the value of a motor vehicle after a collision repair. How to apply for a diminished value claim? Obtaining an automobile diminished value appraisal from a licensed appraiser is the first step toward recovering your car’s lost value.

WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS

SIX DEALER QUOTES IN EVERY APPRAISAL

TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE

Q: How is AUTODIMINISHEDVALUE.COM different from other appraisers who prepare automobile diminished value reports?

A: Virtually every appraisal company working in the field of auto diminished value either prepares their reports based on formulas or algorithms based on severity of damage, mileage, etc., NADA book value comparisons or use of carfax.com type ads. Insurance adjusters routinely downgrade these types of reports for different reasons, chief among them is that they are essentially “fantasy appraisals” based on made up computations or inappropriate online comparisons. Other independent appraisers simply offer their “expert opinions.”

Formulas such as Rule 17c use what is called “damage modifiers” that assign points according to severity of damage and mileage. Auto diminished value appraisers using this formula must, naturally, use higher modifiers than insurance companies would. This simply creates a controversy over whose formula is right. The same goes for so-called algorithms.

AUTODIMINISHEDVALUE.COM obtains its data directly from the sales managers at automobile dealerships – professionals who buy, sell, trade and auction cars every day. In our query, the year, make, model, mileage, color options, amount and nature of damages is discussed. Based on that information, a dealer can determine approximately how much less he would typically pay for the car. We compile six dealer quotes and by averaging their deductions, our automobile diminished value figures are formulated. It is clearly noted in our reports that all of the dealers queried are told that the subject vehicles are not available for purchase or trade, therefore, none of the dealers queried have any vested interest in the subject vehicles. Unbiased opinions are what legitimizes our reports.

It takes five minutes to run off a list of auction results and even less time to concoct a formula for diminished value. While our method is far more time consuming, the resultant diminished value reports are virtually irrefutable. Should an insurance adjuster opt to spend a half-day soliciting new car dealers they would come up with the same results. A Diminished Value Report from AUTODIMINISHEDVALUE.COM is the closest you can come to establishing the exact amount of diminished value. Our clients receive much fairer treatment from insurers. Such compelling evidence forces their consideration.

Q: Regarding your sources of diminished value quotes, are the new car dealers part of a network?

A: No. Using a network of new car dealers for quotes could constitute collusion so we choose dealerships at random, consulting with sales managers from six local dealers to determine diminished value.

Q: How do I order an Automobile Diminished Value Report from AUTODIMINISHEDVALUE.COM?

A: You will find a blue payment button at the bottom of this article. After making your payment, send a copy of the auto body shop or insurance company’s estimate to contact@autodiminishedvalue.com

Q: How much does it cost to use AUTODIMINISHEDVALUE.COM to prepare an Automobile Diminished Value Report?

A: We charge $275.00 regardless of whether your diminished value comes to twenty-five hundred or twenty-five thousand dollars. The cost for a diminished value report for a Bentley, Ferrari, Tesla Motors or other exotic vehicle is $350.00.

Q: Does our appraiser need to see the repaired vehicle?

A: No. Our research is done based on a properly repaired car. No inspection of the repaired vehicle is needed for an inherent diminished value claim.

For INHERENT DIMINISHED VALUE claims, a physical inspection of the repaired car is unnecessary. The car is fixed. Repairs were satisfactorily done. There’s nothing to see. What needs to be proven is why your car is worth less – because it now has a repair history.

Q: Is it necessary to use an appraiser who is licensed?

A: No. While anyone can prepare diminished value reports, an appraiser holding an insurance adjuster’s or insurance appraiser’s license from any state is considered an expert in the field. We are licensed adjusters and appraisers. There are other designations from private organizations that charge a fee for an appraiser to become “certified” or “accredited.” In court, there is no substitute for the credentials of a state-licensed insurance adjuster and appraiser.

Q: What if the accident happened a long time ago, can I still collect for diminished value?

A: In each state, the statute of limitations for filing an automobile diminished value claim varies. Check with your state’s insurance department for this information or give us a call.

Q: Do I need an attorney to file an automobile diminished value claim on my behalf?

A: No. You may elect to hire a lawyer from the outset but it makes fiscal sense to file your automobile diminished value claim yourself. Our reports usually result in satisfactory claim settlements, however, after submitting your report to the insurance company, if you feel that their offer is inadequate or you are being treated unfairly, that would be the time to spring for a lawyer to work on your behalf. It should be noted that our experience testifying as an expert witness has revealed that insurance companies have been ordered to pay for the independent appraisal fee, the expert witness fee and for the claimant attorney’s fee in addition to the amount of the diminished value.

Q: If I have an accident that is my fault, can I make an automobile diminished value claim against my own insurance company?

A: Only in Georgia, but all is not lost. Your car has still lost value as a result of the bad Carfax now attached to it but a portion of that loss is tax-deductible. If your state does not recognize first-party automobile diminished value claims, check with your tax-preparer or accountant for details. The cost of our report is tax-deductible as well

Q: Will AUTODIMINISHEDVALUE.COM act as my designated representative?

A: As a client of our firm, you can be assured that we are prepared to discuss our appraisal process at length with the insurance adjuster upon request and appear either in person or via teleconference as an expert witness to defend our findings as both legitimate and unbiased.

Q: Is the diminished value figure based on my car’s retail or trade-in value?

A: In order to be fair to all parties, we use trade-in values as a starting point. Should you decide to pursue your claim on the basis of retail value, the percentage of the diminished value remains unchanged so you may simply apply it to the higher retail value of the car which is also listed in our report. A good rule of thumb: If your car or truck had minimal to moderate damage, it will lose from 10%-15% of it’s pre-accident trade-in value. If structural damage or air bag deployment occurred, that loss in value will be in the 30%-50% range.

Q: Does diminished value apply to rental cars?

A: In most states, automobile insurance policies do not provide coverage for diminished value. Credit card companies also do not pay for diminished value. If you wreck a rental car without signing up for the additional insurance offered by the car rental companies, you are on the hook for both diminished value and loss of use. Your costs can be substantial – well into the thousands of dollars.

Q: What about leased cars?

A: Leasing companies have begun charging lessors for diminished value based on the car having been repaired. Check with your leasing company whether they require you to make a diminished value claim. If you plan to keep the car after lease termination, you’ll own a car with an accident history so recovering the lost value would be in your best interests.

Q: In what states are AUTODIMINISHEDVALUE.COM services available?

A: Our automobile diminished value appraisals are sought after by car owners all over the country. We provide automobile diminished value reports in all 50 states.

READ CUSTOMER REVIEWS

SEARCH OUR DATABASE OF AUTO DIMINISHED VALUE REPORTS

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming

paypal payment buttonClick on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00.
You may also make your Credit Card Payment by telephone, call 772-359-4300.

TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com

TOTAL LOSS DISPUTEAUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company

This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.

A State Farm Diminished Value Claim in Pennsylvania

Our client, John O’Connor, on September 27, 2019, presented State Farm Insurance Company in Pennsylvania with a third-party inherent diminished value claim for the loss of value subsequent to his truck being fixed. A Ford Super Duty F-250 Lariat Crew Cab 4WD with 7,260 miles, the repairs included the replacement of the frame. AUTODIMINISHEDVALUE.COM was hired to provide a diminished value report and whatever support we could offer on his behalf. Our research showed that the truck lost approximately 45.83% of it’s pre-accident fair market value. The diminished value, which came to $27,268.85, was that high due to the frame damage. No Ford dealer would put this truck on their lot after taking it in on trade because they are unable to certify it and banks won’t finance it. It would go straight to auction where, hopefully, the dealer that consigned the vehicle would be compensated for at least as much as they paid. Frame damage and air bag deployment cause any vehicle to lose close to half their value – and that’s only if it is traded for a new car. In an outright sale, a Ford dealer would offer ten cents on the dollar if they’d consider buying it at all.

WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX DEALER QUOTES IN EVERY APPRAISAL
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE

During our research, one Used Car Manager at a Ford dealership said with frame damage it will be a 50% hit and also, if the Carfax has on it that it has been frame damaged, he won’t even touch it. Another manager said he can’t believe that it was not totaled. We can’t do anything with it. Your client stands to lose 50% in a trade.

This was State Farm’s response to Mr. O’Connor.

State Farm Insurance Auto Diminished Value Response

Our advice to Mr. O’Connor:
State Farm wrote “based on our experience” which says nothing without the underlying explanation of what that means. It amounts to “we made it up” so please ask them for the methodology used to arrive at their figure. Just as you provided them with the methodology used by your appraiser.

Mr. O’Connor immediately wrote to the State Farm file handler:
Thank you for the advice. I put together a letter to State Farm including addressing items you advised me on. State Farm claims they used NADA to come up with their number but did not offer any support of that number in writing. This morning, I called NADA (JD Power) and spoke to a rep, Joshua. I asked him if NADA numbers take into account repairs a vehicle has had due to an accident. He said no, it only takes into account the condition of the vehicle, such as rough, average and clean trade ins as well as clean loan and clean retail. Non of which apply to me. So, I am guessing that State Farm used the rough trade in value to come up with their fictitious offer. I wanted to let you know this information so you know this since this is what you do for a living. You may have been aware of it or this may be a new tactic by insurance companies to try to bend over claimants. I believe in my letter I have put State Farm in a position where they have no choice but to deal with me in good faith or they know I will go to litigation. If you would like to see what I wrote them I can forward you the letter. Thanks again for your help and I have been keeping notes with all of my dealings with State Farm. I am curious as to how this will end up because I think State Farm just shot themselves in the foot and they know it.

A week later I received this correspondence from Mr. O’Connor:
I just heard from State Farm and they called me and I did not answer the phone on purpose because I asked for everything in writing. They left me a voicemail and said they can offer $7,000 and that’s it, very short email. They are not acknowledging my request to see how they come up with that number. I am thinking of emailing them requesting the methodology for that $7,000 otherwise I’ll be contacted by my lawyer and file a complaint for unfair claim practices.

Another week passed. Mr. O’Conner was persistent in his quest for fair treatment.
Good morning and hope all is well. To update you on my dealings with State Farm and my DV claim, State Farm is simply holding firm on their $7,000.00 offer with no valid method to back it up. I saw my attorney yesterday and will see him again on November 8, 2019. I wrote State Farm another letter telling them in very plain English that I saw my attorney yesterday and I am giving them until November 7, 2019 to settle out of court. I told State Farm I will settle for not one penny less than $18,000.00 but if we do not settle and go to court I am going for the full DV claim amount of $23,090.00 plus attorney fees and your fee to testify via video conference. I am starting to see that my accident has been handled completely wrong since the get go by State Farm and I have let them know it. I am hoping they do settle out of court because I have a very strong case, not only with diminished value but since my truck was completely rebuilt there are valid safety issues that concern me.

Another month had passed when I received this email from Mr. O’Connor:
Hello. I wanted to update you on my truck. Saw my lawyer today, State farm offered to settle out of court for the balance of the property damage limit of the person who hit me. It cost $30,600 to fix my truck and give me a rental, they offered balance of $19,400. I am taking it. However, my lawyer suggested filing a small claims lawsuit for $12,000 to cover my legal fees and balance of my diminished value not covered by property damage limits. State farm screwed up and only had one adjuster deal with both parties in the accident (we are both insured with State Farm) and acted in bad faith, so we are filing a bad faith against State Farm to collect the remaining balance. I should of had my own adjuster and been involved in the decision to fix or total my truck. That never happened. I’ll let you know what happens in small claims. Thanks again for your help and take care.

By now it is June 1, 2020.
Hello and hope all is well. Updating you on my truck that you helped me with over the past 6-7 months. So far, it cost 30k to fix truck and pay for my rental, I received 20k in diminished value with help of my lawyer and State Farm just paid my repair shop 8k to replace the transmission in the truck. I’ve been having problems with the transmission since the accident and Ford wrote up an estimate and said the transmission needs to be replaced. Truck goes in Monday for new transmission. That brings the total so far to 58k plus their lawyer fees. Also, we are about to file a bad faith claim for 12k because State Farm used one adjuster to represent both parties. That will put them over 70k! FMV was 55k at time of accident. Like you told me, they should have totaled it. Makes absolutely no sense. Take care.

It can seem hopeless when a large corporation such as State Farm tries to impose its will. But John O’Connor and his attorney kept up the fight.

The final email that we received from Mr. O’Connor on November 15, 2020 is printed here verbatim.
Hello. Well, finally it is coming to an end after over a year since my accident. I wanted to get you a final recap of what happened. It was a long and winding road as you stated

1) Accident July 24, 2019
2) Diminished Value Appraisal you provided: $22,500.00
3) Fair Market Value per your appraisal: $55,000.00
4) Cost to repair truck: $27,500.00 (paid by State Farm) (frame swap and complete rebuild of the truck, should have been totaled)
5) Cost of rental truck: $3,000.00 (paid by State Farm)
6) 6 months after accident, transmission replaced due to accident: $8,000.00 (paid by State Farm)
7) Diminished Value claim I filed and won: $19,367.10 (paid by State Farm)
– I paid $3,000.00 for lawyer fee to collect DV, actual money recouped was $16,367.10
8) Bad Faith Claim per my lawyer to collect lawyer fees and balance of DV I lost: As of November 2, 2020, State Farm did not enter a defense to this case and I was awarded $12,225.00. They have 30 days to appeal but most likely will not because they used one adjuster to represent both parties in my accident. Both parties in accident had State Farm as their insurance carrier, State Farm acted in Bad Faith and it’s a conflict of interest, they already admitted this. Once the bad faith suit is settled, I will receive another $8,000.00 and the lawyer gets $4,000.00. Once I receive this final payment, I will then be back to my financial position prior to the accident.
9) Estimated lawyer fees for State Farm: $10,000.00
10) I just got truck back yesterday because shop messed up paint work during original rebuilding of the truck. This was noticed Spring 2020, Summer 2020 they tried to do a paint correction and screwed it up even more. I went to another shop, was told had to be stripped and repainted, start over from scratch shop estimated $9,000.00 to do this. I took back to original shop, they used a different painter, truck is now, in my opinion, back to pre-accident condition as close as it can be. This cost was absorbed by the shop, no cost to me or State Farm.

So, total amount of money spent by State Farm to repair a truck worth $55,000.00 in the market:

Repairs: $27,500.00
Rental: $3,000.00
Transmission: $8,000.00
Diminished Value Claim: $19367.10
Bad Faith claim: $12,225.00
Estimated State Farm attorney expenses: $10,000.00
Total: $80,092.10

And there ya have it, what a mess. I am happy this is, for the most part, over. Thank You for all of your help and advice.

READ CUSTOMER REVIEWS

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming

paypal payment button

Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00.
You may also make your Credit Card Payment by telephone, call 772-359-4300.

TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com

TOTAL LOSS DISPUTE

AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
 

This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.