Accident - Diminished Value Claims

Teslove · Nov 21, 2013

If your Tesla was damaged in an accident and repaired, has anyone sought diminished value damages for the reduced value of your car?

As I understand it, if you have a reported accident, the accident / repair will appear on a Carfax and similar reports. As a result, you will receive less for for the car, when you go to sell it. The diminished value claim recognizes the loss of market value of your vehicle resulting from accidental damage.

How did you go about proving the diminished value amount? What amount did you receive? How big a fight did you have with the other person's insurer?

Thanks

DriverOne · Nov 22, 2013

I'm at the beginning of this process. I'm told people have been successful with Teslas. The hard part is that there are very few comparables; few Model S' for sale, and close to zero for sale that have had damage. So you have to go off similarly-priced cars.

Jason · Nov 23, 2013

Hey DriverOne, would you share who you are using - you can PM the info if you don't want to post it.

Thanks

Teslove · Nov 24, 2013

Jason

If you find someone or hear from Driverone, I would appreciate a post or PM

Thanks

- - - Updated - - -

Jason

If you find someone or hear from Driverone, I would appreciate a post or PM

Thanks

Seven7 · Nov 24, 2013

Seven7 · Nov 29, 2013

Teslove said:
If your Tesla was damaged in an accident and repaired, has anyone sought diminished value damages for the reduced value of your car?

As I understand it, if you have a reported accident, the accident / repair will appear on a Carfax and similar reports. As a result, you will receive less for for the car, when you go to sell it. The diminished value claim recognizes the loss of market value of your vehicle resulting from accidental damage.

How did you go about proving the diminished value amount? What amount did you receive? How big a fight did you have with the other person's insurer?

Thanks

Yes, I'm working on a diminished value claim, but it's not going to be easy because so few teslas's have been wrecked the same way, send me an e-mail if you want to discuss it.

Jason · Dec 1, 2013

I found someone but only for Texas. Apparently it is different for every state.

Teslove said:
Jason

If you find someone or hear from Driverone, I would appreciate a post or PM

Thanks

- - - Updated - - -

Jason

If you find someone or hear from Driverone, I would appreciate a post or PM

Thanks

lloyds · Dec 2, 2013

Worth a try. I didn't have any luck on my last ICE when I tried to claim it after someone tboned me.

DA808EV · Jul 9, 2014

For those of you that have received a claim, do you have any update on which appraisal company you used and the outcome?

Curly Sue · Aug 14, 2014

St. Lucie Appraisal handles diminished value in all 50 states. There's a guy in Texas named Justin Petty who is supposed to be good. All the rest have horrible reviews in BBB, Ripoff Report, etc.

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Accident - Diminished Value Claims

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