gr8smiles Posted October 19, 2006 Share Posted October 19, 2006 Last month, I was rear ended at a light by another driver. His insurance is fixing my 06GX470 with 7000 miles. They have put a new frame under it! Close to 12-13k in damage. I don't think that I want this lovely truck anymore and am going to trade it...possibly for a IS250-350. I have been todl by my attorney and others that I can collect 'diminished value' from his insurance since my car is not worth near what it was 6 weeks ago. Any advice? I have spoken with my attorney and have spoken with my Lexus dealer who says that they do that all the time. I have not spoken with the other insurance company. My attorney said to wait til the car was back in my possession. Thanks Rick Quote Link to comment Share on other sites More sharing options...
SW03ES Posted October 25, 2006 Share Posted October 25, 2006 I believe all thats involved is getting some appraisals and comparing them to the value of the vehicle before the accident. Your insurance company should handle that. Quote Link to comment Share on other sites More sharing options...
LEXIRX330 Posted October 25, 2006 Share Posted October 25, 2006 Take a look at this... http://info.insure.com/auto/collision/diminishedvalue.html diminished value claims are a little complicated depending on which state you are in but Steve is right...let your insurance company or since you have a lawyer let him take care of it for you, or at least tell what you should do. Quote Link to comment Share on other sites More sharing options...
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