-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
S85 For Sale White/Tan/Gloss Wood/No Pano 3500 miles ACCIDENT DAMAGE
- Thread starter lolachampcar
- Start date
-
- Tags
- Model S
My wife and I start the conversation with State Farm (the at fault's insured) today. It will likely take through the holidays to have them examine the car sufficiently that I can sell it.
As for timing from that point on, it would make sense to keep it until the replacement car arrives in February (quoted delivery for the new car) EXCEPT for the impact that might have on diminished value. Specifically, Florida law states that damages be determined by the value of the car before and then directly after the damage; if repaired, then directly before the accident to after the repair. The absolute reference for pre-accident value is Tesla's demo sales model of $1K per month and $1/mile.
There is nothing I can do about the three months we have owned the car and 3500 miles she drove it up to the accident. That ship has sailed. I am simply exposed to that depreciation even though I had no intentions of selling the car prior to the accident. I will argue that I normally keep cars for four to five years and the depreciation I experience is typically $1/mile. I'm just not sure that will fly. What I do not want to do is pay $1K/month and $1/mile for the next few months while the new car comes in. If that were the case, I would sell the car now to control the accelerated depreciation and use a rental (which I would likely charge back to the insurance company). This will likely be the first topic of discussion thus I should know more soon.
An alternative would be to negotiate and close the sale with delivery in two months and an allowance back for mileage between now and then.
As for timing from that point on, it would make sense to keep it until the replacement car arrives in February (quoted delivery for the new car) EXCEPT for the impact that might have on diminished value. Specifically, Florida law states that damages be determined by the value of the car before and then directly after the damage; if repaired, then directly before the accident to after the repair. The absolute reference for pre-accident value is Tesla's demo sales model of $1K per month and $1/mile.
There is nothing I can do about the three months we have owned the car and 3500 miles she drove it up to the accident. That ship has sailed. I am simply exposed to that depreciation even though I had no intentions of selling the car prior to the accident. I will argue that I normally keep cars for four to five years and the depreciation I experience is typically $1/mile. I'm just not sure that will fly. What I do not want to do is pay $1K/month and $1/mile for the next few months while the new car comes in. If that were the case, I would sell the car now to control the accelerated depreciation and use a rental (which I would likely charge back to the insurance company). This will likely be the first topic of discussion thus I should know more soon.
An alternative would be to negotiate and close the sale with delivery in two months and an allowance back for mileage between now and then.
Robert Tigmmell in the West Palm Beach Service Center took a look at the car a few minutes ago and agreed that there is no structural damage. PM me if you want his contact information.
Some video of windows and doors operating
Some video of windows and doors operating
I got my first call from State Farm today. Hopefully we can get an adjuster out to confirm the damage this week.
The math for sell damaged versus fix then sell is in favor of sell damaged. All I need to do is get SF to understand that.
The math for sell damaged versus fix then sell is in favor of sell damaged. All I need to do is get SF to understand that.
NotARichMan
New Member
Bill,
From the title, it looks like this is pretty much a base S85. Are there any options added to the base package?
- - - Updated - - -
I just noticed the window sticker in the last picture... ignore my previous post.
From the title, it looks like this is pretty much a base S85. Are there any options added to the base package?
- - - Updated - - -
I just noticed the window sticker in the last picture... ignore my previous post.
One interested party got a local appraisal firm scheduled to look at the car. I'd be happy to make it available for independent appraisal so people are not just taking my word for it.
- - - Updated - - -
I have started a storm of interest in the car and fear I have not put enough thought into how to manage a fair and proper sale. I need help.
As it stands today, I have received enough documentation to be comfortable with my estimates on the “Tesla Certified” repair costs. This is the single largest unknown in the process. If I say it is $25K and State Farm says it is $7K then we have a fight on our hands. Luckily for me (and not necessarily the other MS owner) another forum member has just gone through a right rear quarter panel replacement to Tesla’s specifications. This damage was a sub-set of that on my wife’s car and was in excess of $22K. That is close enough to my estimate to make a convincing argument for State Farm saving well over $5K if I sell the car as is. Put differently, I am confident enough that the car can be sold as is to try to figure out just how to sell it.
I’ve gone back to my original post and reread it. Thank you to all that have contacted me with interest and aided in my establishing a baseline value or interest in the car. Contrary to my first post, I now believe the car’s CARFAX will indicate the payout by State Farm as they will likely report it. Apart from that, the remainder of the initial post has proven to be accurate. I will update that assessment with any information from independent appraisals.
With respect to the sale, there are a large number of interested parties. As the seller, I want to acknowledge the time and effort that many interest parties have put into looking at the car. I also want to conduct a fair sale that disadvantages no one. My original thought was to “Ebay it” but I think the interest is high enough here on TMC to keep it in the family. I would also prefer to deal with and sell to people I know. This is one of those rare opportunities where everyone can do well.
As the seller, I am interested the sale of the car plus the potential to continue to use the car until my wife’s replacement comes in. The use of the car is a consideration but is by no means controlling should the buyer need the car straight away. Is there a way to do a completely open and above board disposal of the car through this thread such that everyone is treated fairly? The last thing I want is anyone feeling slighted and there is enough interest in the car that, although not my intent, this is a real possibility.
Thanks in advance for your help. Bill
- - - Updated - - -
I have started a storm of interest in the car and fear I have not put enough thought into how to manage a fair and proper sale. I need help.
As it stands today, I have received enough documentation to be comfortable with my estimates on the “Tesla Certified” repair costs. This is the single largest unknown in the process. If I say it is $25K and State Farm says it is $7K then we have a fight on our hands. Luckily for me (and not necessarily the other MS owner) another forum member has just gone through a right rear quarter panel replacement to Tesla’s specifications. This damage was a sub-set of that on my wife’s car and was in excess of $22K. That is close enough to my estimate to make a convincing argument for State Farm saving well over $5K if I sell the car as is. Put differently, I am confident enough that the car can be sold as is to try to figure out just how to sell it.
I’ve gone back to my original post and reread it. Thank you to all that have contacted me with interest and aided in my establishing a baseline value or interest in the car. Contrary to my first post, I now believe the car’s CARFAX will indicate the payout by State Farm as they will likely report it. Apart from that, the remainder of the initial post has proven to be accurate. I will update that assessment with any information from independent appraisals.
With respect to the sale, there are a large number of interested parties. As the seller, I want to acknowledge the time and effort that many interest parties have put into looking at the car. I also want to conduct a fair sale that disadvantages no one. My original thought was to “Ebay it” but I think the interest is high enough here on TMC to keep it in the family. I would also prefer to deal with and sell to people I know. This is one of those rare opportunities where everyone can do well.
As the seller, I am interested the sale of the car plus the potential to continue to use the car until my wife’s replacement comes in. The use of the car is a consideration but is by no means controlling should the buyer need the car straight away. Is there a way to do a completely open and above board disposal of the car through this thread such that everyone is treated fairly? The last thing I want is anyone feeling slighted and there is enough interest in the car that, although not my intent, this is a real possibility.
Thanks in advance for your help. Bill
Bill,
Thanks for how you've handled it. I did indicate interest, but as we're winding down on a lease, you don't have to put me at the top of the list. We also have to wait until the East Coast SC network is a tad more flushed out (the coming soon part of their map) to make the trip up north without trailering it. I'm not sure in which order I contacted you, but if you have an "easier" sale, no hard feelings here.
Thanks for how you've handled it. I did indicate interest, but as we're winding down on a lease, you don't have to put me at the top of the list. We also have to wait until the East Coast SC network is a tad more flushed out (the coming soon part of their map) to make the trip up north without trailering it. I'm not sure in which order I contacted you, but if you have an "easier" sale, no hard feelings here.
The shipping rate for cars is generally about $1 a mile. I had a friend purchase an out-of-state DeLorean recently and that's about what he paid for a flatbed.
And Bill - It looks like I will have to rescind my offer as my spouse doesn't look to be on the same page as me. I'm sure someone else would pay more than I offered anyway.
I think once you get a check from State Farm, you should just do a request for bids through PM. Personally, if I didn't get any offers in the price range I was looking for, I'd then post to Ebay with a reserve, taking into account, of course, their cut of the sale.
lolachampcar,
I also expressed interest and I would have no issue waiting until your replacement MS arrives. It would give me time to work out a number of issues related to financing/insurance/DMV taxes, not to mention (hopefully) better weather up here in case we want to make a roadtrip out of it. Haven't sent you a PM offer yet because I'm still working on those issues as well as discussing the purchase with my SO. Will update if anything changes.
I also expressed interest and I would have no issue waiting until your replacement MS arrives. It would give me time to work out a number of issues related to financing/insurance/DMV taxes, not to mention (hopefully) better weather up here in case we want to make a roadtrip out of it. Haven't sent you a PM offer yet because I'm still working on those issues as well as discussing the purchase with my SO. Will update if anything changes.
NotARichMan
New Member
I would say that once you have done the math and have a price set that you start working through your PMs until you find the right buyer. That seems fair and simple enough (but stinks for me as I'm sure I PM'd late in the game).
You do not need to put me on the list of interested parties, but when I am ready to purchase, something like this would be perfect. If the damage is merely cosmetic, then I would do only the minimum to address it. As an outdoor-oriented family with kids, we are admittedly not that great at keeping our cars clean and free of dings. Starting with a Tesla vehicle that already has some cosmetic damage (of course at a discount) would help put us at ease.
Bill,
I will give you 35000 cash for the car today as it sits sight unseen.
89000
-7500 tax rebate
-30000 to fix
-6600 depreciation per tesla
-12000 diminished value
-1500 another month+miles
=31,400
You can keep it until your new car arrives assuming
you don't put too many miles on it in the mean time
Jack
I will give you 35000 cash for the car today as it sits sight unseen.
89000
-7500 tax rebate
-30000 to fix
-6600 depreciation per tesla
-12000 diminished value
-1500 another month+miles
=31,400
You can keep it until your new car arrives assuming
you don't put too many miles on it in the mean time
Jack
I am meeting with the State Farm appraiser at two today. I will send them a note later today with my assessment of the situation and notice of intent to sell. I'll need to give them a reasonable amount of time to respond (a few days?) then I should be free to dispose of the car.
I met with the State Farm adjuster at the Tesla Service Center. He had a good look at the car then tried to get pricing for the door shells and rear quarter panel. Apparently this was not possible as body parts have, up until now, only been available through Tesla Authorized Body Shops. This policy has now been amended and the adjuster should have his pricing by now.
I followed up with a letter to SF claims detailing the cost savings by doing a retail sale. I gave them a few days to respond. With luck, the car will be freed up for sale shortly.
I met with the State Farm adjuster at the Tesla Service Center. He had a good look at the car then tried to get pricing for the door shells and rear quarter panel. Apparently this was not possible as body parts have, up until now, only been available through Tesla Authorized Body Shops. This policy has now been amended and the adjuster should have his pricing by now.
I followed up with a letter to SF claims detailing the cost savings by doing a retail sale. I gave them a few days to respond. With luck, the car will be freed up for sale shortly.
Last edited:
If it would be helpful, maybe I can ask my shop for a writeup of what they are doing and estimated cost of repair since I also have cosmetic rear quarter panel damage (I think it was close to $20,000 last time I checked without any additional items), as further evidence that $7k is nowhere near reality in terms of repairing this car. I'm sorry to hear State Farm trying to lowball you on the repair, that just makes this whole unpleasant process that much more :cursing:.....Progressive has been cooperative in my case, they did not argue where to take the car to, and they have green-lit all the body shop told them without question (I'm glad the claims people I've been dealing with are local and reasonable). That's about the only good part though! I thought about selling mine as well but there would be no diminished value benefit and the car sustained suspension and axle damage that made it non-driveable (it just dragged onto the flatbed going CLUNK CLUNK....lol). I'm thinking that once the repairs are done I may try to sell it as close to pre-accident value as possible since the shop is one of the top places you can take a car to anywhere (They primarily do exotics, I mentioned another time some would argue they could paint better than Tesla can....People bring their Enzos there, and they do so many Ferraris they have a whole room that's always full of nothing but Ferraris.....maybe I should have them do the whole car ha), but there would be at least some discount to a car that would look and drive as new. I would only sell it not because I wouldn't be satisfied with the repair (which from these guys is known to come out flawless), but because with only a few hundred miles, that would be my best shot to recoup as much value as I could assuming any resale, otherwise I'd likely need to keep it basically forever as I'd probably be hosed at any other point down the road. So I may be going through the same process as you in a few months, and if my case can help make it easier for you to get your due from State Farm then I'm more than happy to help.
Similar threads
