2003 Es 300 And Diminished Value

[dianelouise]

My silver 2003 ES 300 was rear ended on the freeway. :cries: I was not injured, and I did not hit the car in front of me, but the trunk was flattened. 10 hours of framework and $10K in repairs later, I am trying to collect "diminished value" from their insurance company. No dealer in the area will give me a written value siting "liability issues". No dealers will keep the car on their lot - it goes directly to the auction. Insurance company says car is fixed to factory specs - that should be enough. They want me to show them "acutal sales invoices" of similar cars. There are no such comparable sales! I am the original owner, 15K miles on it, 6 cd changer, heated front seats, wood steering wheel, perfect condition (originally). Any suggestions on how to persuade the insurance company to pay up? would you buy a car with that history? thanks for the advise, diane

[anzial]

It's salvage title now? I wouldn't buy it. Most dealers won't go for a salvage either. You best bet is trying to sell it yourself, as a private party. Don't expect a full KBB PP price tho, it's a salvage after all.

[dianelouise]

well, it wasn't before the accident. I'm not sure how that gets reported, but I would disclose the accident no matter what. How much off of KBB PP would you expect to pay?

[lexus411]

did the repair shop declare it frame damaged? if so, it will show on car fax and have a severely diminished value . It is also dangerous because the frame and factory welds have all been compromised. Last the Lexus parts are marked with original vin#s. Im sure your car now contains several parts that are now replaced and do not have the sticker making it easy to spot when the car is being appraised.

Check any Lexus, run your fingers along the inside of the doors or along the edges inside the trunk and hood, you will never feel a paint seem on a unblemished Lexus. Im sure your car has alot of seems where the paint ends just inside these area. Im sure it was done nice but not anywhere near they way it comes from the factory. Also here is a printout from www.galves.com This is the site used by most dealers to do an appraisal. Your car before in perfect conditon with the low miles is worth in the $22k area. Take away the low miles and the reapairs are more then 50% of the value. Good luck, I hope any of this helps

..:: VEHICLE

2003 LEXUS ES 300

..:: DESCRIPTION

Engine Type: V6

Body Style: 4 DOOR SEDAN

Vincode: [bF3]

Standard Features: CD STD

DUAL POWER SEATS STD

DUAL ZONE AUTOMATIC AC STD

MOON ROOF STD

POWER WINDOWS STD

Base Price: @ 37,000 miles 20,200

Mileage: 15,000

..:: ADDS & DEDUCTS

ADD: CD CHANGER + 200

As Equipped Price 20,400

Mileage Adjustment 2,250

GALVES VALUE 22,650

..:: COMMENTS

y.

[rosecityrain]

My silver 2003 ES 300 was rear ended on the freeway.  :cries:  I was not injured, and I did not hit the car in front of me, but the trunk was flattened.  10 hours of framework and $10K in repairs later, I am trying to collect "diminished value" from their insurance company.  No dealer in the area will give me a written value siting "liability issues".  No dealers will keep the car on their lot - it goes directly to the auction.  Insurance company says car is fixed to factory specs - that should be enough.  They want me to show them "acutal sales invoices" of similar cars.  There are no such comparable sales!  I am the original owner, 15K miles on it, 6 cd changer, heated front seats, wood steering wheel, perfect condition (originally).  Any suggestions on how to persuade the insurance company to pay up?  would you buy a car with that history?  thanks for the advise, diane

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If your insurance company is not advocating FOR you, then hire a lawyer and take the lot of them to court (or, at least, threaten to) your company, the other company (if they are the same company, you have a conflict of interest going on)

SAFECO lost a court case like this in Oregon and I got a check recently on a car I sold a couple of years ago. due to diminished value. You have legal recourse here.

rosie

[Al Cannaday]

I'm sure that each state and each insurance company deal with diminished value differently. Here's my experience in South Carolina, I bought an 05 ES330 on May 31, 2005, eight days and 252 miles later I got hit by an SUV running a stop sign. The repair was almost $10,000 but the car was not totaled (the car no longer can qualify as a Certified Pre Owned). The other guys insurance company paid all of the bills and offered $2,000 for diminished value. I estimated the diminished value at $7,000, I then went to my Lexus dealer's Certified Pre Owned manager and got a cash value apraisal for my car in an undamaged condition and also in the repaired condition. I was surprised that the difference in value was only $4,000. The insurance company and I settled on the $4,000 amount.