1 week old e92 in accident. Need help with diminished value

dsantos08 · 11-24-2009, 01:20 AM

Hey I just bought my e92 about a week ago and it was parked in my friends driveway when he accidentally backed up into it. We are going through insurance and the damaged totaled to 2600. Just a few scratches on the bumper and a slight dent on the hood. Nothing too major. But I was reading online about "diminished value"? How would I go about claiming this? Do I need to hire an agent or something? My car's msrp was 44k. I live in CA.

-=Hot|Ice=- · 11-24-2009, 01:21 AM

Pics or it never happened.

dsantos08 · 11-24-2009, 01:22 AM

Quote:

Originally Posted by -=Hot|Ice=-

Pics or it never happened.

Yeah we took pictures of the damage. What do you mean it never happened? Do I need pictures to file the claim?

BMWinNorthdakota · 11-24-2009, 01:35 AM

Those pictures are a fail haha

I would make a claim on it... and just repair it like any other person would

Its not like it will show up as anything drastic. As long as you have the paper work to describe to the buyer what actually happened, it should not be anything that will make the car deminish in value.

I think..

-=Hot|Ice=- · 11-24-2009, 01:45 AM

Quote:

Originally Posted by dsantos08

Yeah we took pictures of the damage. What do you mean it never happened? Do I need pictures to file the claim?

I mean post pics so we can see what happened.

rault18 · 11-24-2009, 01:49 AM

its minor so wont affect u

John 070 · 11-24-2009, 03:47 AM

Quote:

Originally Posted by rault18

its minor so wont affect u

Looks-wise yes, but carfax no.

I've seen this concept on the Ferarri owner's newsletter (no, I don't own one, but someone at the gym always leaves his, probably for others to read and be impressed), and they say it's very difficult to recoup for it.

bavarian19 · 11-24-2009, 05:28 AM

count your blessings it was not bad and just go msport front.

Potty_Pants · 11-24-2009, 06:02 AM

lol was it you taking the picture... or is it you with the white teeshirt ???

ppp

cotmfk · 11-24-2009, 06:48 AM

Diminished value is hard to get. You will have to go through the insurance company for the repair. When you are talking to them about it, tell them you want the diminished value. They will tell you all the hoops you have to jump through to get the money. It's not easy b/c they don't want to give out money.

F32Fleet · 11-24-2009, 06:50 AM

Pic and you must file a claim against your buddies insurance company. At most you'd get ~$300-500. You emotionally driven perceived value is greater than the insurance companies idea of value.

jlstyle · 11-24-2009, 01:14 PM

Come on.
Its just a little dent. It WON'T diminish value of your car.

DVDA · 11-24-2009, 01:17 PM

Friends dont let friends back into each other's cars

Kylekuu · 11-24-2009, 01:23 PM

hate to be the one to tell you,
i use to live in ca too, got side swiped with like 6k of dmg. you can't claim DV, if you can the state's insurance number, they will say CA doesn't require insurance companies to pay for DV.

It's a state by state thing, no matter how you argue it, it's ultimately up to the insurance your claiming

kgb1637 · 11-24-2009, 02:09 PM

Diminished value is more for cars in serious accidents that have major body work that would show up on carfax. A dent like that is very minor. The diminished value comes in when major, MAJOR work is done on the car, just fix it and keep the paperwork.

ragingclue · 11-24-2009, 02:31 PM

If that's your friend in the picture, I think I now know what caused the accident.

jign4bass · 11-24-2009, 02:38 PM

Quote:

Originally Posted by Kylekuu

hate to be the one to tell you,
i use to live in ca too, got side swiped with like 6k of dmg. you can't claim DV, if you can the state's insurance number, they will say CA doesn't require insurance companies to pay for DV.

It's a state by state thing, no matter how you argue it, it's ultimately up to the insurance your claiming

x2.

Good luck in CA. Ain't gonna get diminished value. Anyways, get it repaired by a pro and you'll never know it happened.

HapaVibe · 11-24-2009, 02:53 PM

I had an '04 TL that got sandwiched on I-405. About $16K damage total on a $32K car. I asked for diminished value without having it professionally evaluated. I asked for $2K and got it. Probably way below what I could have gotten.

I think one of the previous posters was right about it being a state by state thing. You should verify that your state supports those claims. Next you need to have the car professionally evaluated. That runs into the hundreds. For your accident it may not make sense to go this route.

I think they're right about it showing up on CarFax. I don't know how you can prevent that. Maybe like a credit report you can add explainations?

Sorry this happened, but I think you're SOL about getting restored to your pre-accident state.

blue1 · 11-24-2009, 03:38 PM

collisionclaims.com
DVAssess.com

Try these 2 sites to get an estimate on what the DV will be. I had a women run into the back of my car. It only put a few dents in the bumper where her license plate screws hit the bumper. It was a $1200.00 repair and a $700.00 DV claim. Could not get the insurance company to pay up on the DV claim. There is true DV on any claim that shows up on Carfax no matter how small. Getting the insurance company to pay up is the tough part.

Castel · 11-24-2009, 04:34 PM

I agree, those pics are total fail. Good luck with the claim though.

Castel · 11-24-2009, 04:35 PM

Quote:

Originally Posted by ragingclue

If that's your friend in the picture, I think I now know what caused the accident.

jopa489 · 11-24-2009, 04:37 PM

Yeah, those pics are pretty bad. But that's barely a dent, it won't diminish the value of your car.

11-24-2009, 01:20 AM	#1
dsantos08 First Lieutenant 13 Rep 308 Posts Drives: e92 335i Join Date: Nov 2009 Location: Los Angeles iTrader: (6)	1 week old e92 in accident. Need help with diminished value Hey I just bought my e92 about a week ago and it was parked in my friends driveway when he accidentally backed up into it. We are going through insurance and the damaged totaled to 2600. Just a few scratches on the bumper and a slight dent on the hood. Nothing too major. But I was reading online about "diminished value"? How would I go about claiming this? Do I need to hire an agent or something? My car's msrp was 44k. I live in CA.
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11-24-2009, 01:35 AM	#4
BMWinNorthdakota Banned 246 Rep 1,106 Posts Drives: 2007 bmw 335i e90 Join Date: Jun 2009 Location: Fargo ND iTrader: (0)	Those pictures are a fail haha I would make a claim on it... and just repair it like any other person would Its not like it will show up as anything drastic. As long as you have the paper work to describe to the buyer what actually happened, it should not be anything that will make the car deminish in value. I think..
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11-24-2009, 01:49 AM	#6
rault18 Lieutenant 19 Rep 410 Posts Drives: 06 330i Join Date: Nov 2009 Location: las vegas iTrader: (2)	its minor so wont affect u
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11-24-2009, 05:28 AM	#8
bavarian19 General 521 Rep 18,858 Posts Drives: Car Join Date: Mar 2005 Location: VA iTrader: (23)	count your blessings it was not bad and just go msport front.
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11-24-2009, 06:02 AM	#9
Potty_Pants Colonel 67 Rep 2,189 Posts Drives: 2012 Genesis Sedan Rspec Join Date: Apr 2007 Location: Southern NJ iTrader: (0)	lol was it you taking the picture... or is it you with the white teeshirt ??? ppp __________________ Olds Starfire > Chevy Malibu > Isuzu I-mark RS & Honda Magna 500 > Grand Am GT & YSR50 > Nissan Maxima & Ninja 750 > X-Wife > Hyundai Excel > Honda Prelude > Honda Accord > Honda Prelude & Ninja 250> Infiniti G35 > E90 335i > Hyundai Genesis Rspec, Hyunadai Sonata > Kia Sorento > Honda CRV-EX
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11-24-2009, 06:48 AM	#10
cotmfk Major General 2060 Rep 6,128 Posts Drives: M3 Join Date: Mar 2009 Location: Somewhere between DC and FL iTrader: (12)	Diminished value is hard to get. You will have to go through the insurance company for the repair. When you are talking to them about it, tell them you want the diminished value. They will tell you all the hoops you have to jump through to get the money. It's not easy b/c they don't want to give out money. __________________ When you say impact instead of affect/effect, you are communicating that you don't understand the difference between the two words, and are too lazy to learn.
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11-24-2009, 06:50 AM	#11
F32Fleet Lieutenant General 3616 Rep 10,377 Posts Drives: 2015 435i Join Date: May 2005 Location: Southeastern US iTrader: (0)	Pic and you must file a claim against your buddies insurance company. At most you'd get ~$300-500. You emotionally driven perceived value is greater than the insurance companies idea of value.
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11-24-2009, 01:14 PM	#12
jlstyle Lieutenant Colonel 357 Rep 1,762 Posts Drives: Porsche Panamera Join Date: Jun 2008 Location: USA iTrader: (0) Garage List 2014 Audi S7 [0.00] 2015 BMW X5 [0.00]	Come on. Its just a little dent. It WON'T diminish value of your car.
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11-24-2009, 01:17 PM	#13
DVDA Major 126 Rep 1,419 Posts Drives: women crazy Join Date: Nov 2008 Location: Tamarac, Florida iTrader: (0)	Friends dont let friends back into each other's cars __________________ '10 E92 335i\|Le Mans Blue\|Black Dakota\|Light Burl Walnut Trim\|Premium\|///M-Sport\|Steptronic\|I-Drive\|Comfort Access\|
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11-24-2009, 01:23 PM	#14
Kylekuu Captain 30 Rep 679 Posts Drives: 08 328xi, 84 318i Join Date: Oct 2007 Location: Kenosha, WI iTrader: (0)	hate to be the one to tell you, i use to live in ca too, got side swiped with like 6k of dmg. you can't claim DV, if you can the state's insurance number, they will say CA doesn't require insurance companies to pay for DV. It's a state by state thing, no matter how you argue it, it's ultimately up to the insurance your claiming
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11-24-2009, 02:09 PM	#15
kgb1637 Lieutenant Colonel 21 Rep 1,519 Posts Drives: RS5 Join Date: Sep 2008 Location: Baltimore, MD iTrader: (0)	Diminished value is more for cars in serious accidents that have major body work that would show up on carfax. A dent like that is very minor. The diminished value comes in when major, MAJOR work is done on the car, just fix it and keep the paperwork. __________________ Retired - '08 E90 335i Sparkling Graphite/Gray Dakota Leather, ZSP, ZCW, ZPP, Navi, ipod, Sat
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11-24-2009, 02:31 PM	#16
ragingclue One cam is enough 132 Rep 6,801 Posts Drives: VF Join Date: Oct 2008 Location: mulletville iTrader: (1)	If that's your friend in the picture, I think I now know what caused the accident.
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11-24-2009, 02:53 PM	#18
HapaVibe Private 2 Rep 76 Posts Drives: BMW Join Date: Sep 2009 Location: Seoul iTrader: (0)	I had an '04 TL that got sandwiched on I-405. About $16K damage total on a $32K car. I asked for diminished value without having it professionally evaluated. I asked for $2K and got it. Probably way below what I could have gotten. I think one of the previous posters was right about it being a state by state thing. You should verify that your state supports those claims. Next you need to have the car professionally evaluated. That runs into the hundreds. For your accident it may not make sense to go this route. I think they're right about it showing up on CarFax. I don't know how you can prevent that. Maybe like a credit report you can add explainations? Sorry this happened, but I think you're SOL about getting restored to your pre-accident state.
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11-24-2009, 03:38 PM	#19
blue1 Private First Class 3 Rep 175 Posts Drives: M3 Join Date: May 2008 Location: Arizona iTrader: (3) Garage List 2011 BMW E93 M3 [0.00]	collisionclaims.com DVAssess.com Try these 2 sites to get an estimate on what the DV will be. I had a women run into the back of my car. It only put a few dents in the bumper where her license plate screws hit the bumper. It was a $1200.00 repair and a $700.00 DV claim. Could not get the insurance company to pay up on the DV claim. There is true DV on any claim that shows up on Carfax no matter how small. Getting the insurance company to pay up is the tough part.
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11-24-2009, 04:34 PM	#20
Castel Captain 71 Rep 801 Posts Drives: Tanzanite Blue '13 E92 M3 Join Date: Jul 2008 Location: Portland, OR iTrader: (6)	I agree, those pics are total fail. Good luck with the claim though.
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11-24-2009, 04:37 PM	#22
jopa489 Major General 122 Rep 6,594 Posts Drives: Anything with Wheels Join Date: Mar 2009 Location: USA iTrader: (9)	Yeah, those pics are pretty bad. But that's barely a dent, it won't diminish the value of your car. __________________ X7 LCI // Incoming C7 ZR1 ZTK // Sebring + TRX // Hydro + Raptor Gen1 Roush // Tuxedo
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