Diminished Value Amount after accident?

[BootyWizard]

Hey all,

Looking for some advice here. A car blew a red light and hit me while i was going through the intersection. Just got discharged from the hospital, and I'm going to check out the damage in the tow yard tomorrow (didn't get any pictures of the accident since I couldn't move from the driver's seat).

I was doing some research about diminished value after an accident since a car as new as a bronco is definitely going to lose some value compared to something brand new. Problem is, I can't find comparables online (2 door, wildtrak, lux package). Edmunds has zero 2 doors with accidents for sale.

Does anyone here have any experience with diminished value broncos post accident? I would appreciate any and all tips in regards to this event, but for now, more ice...

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[BroncoDoctor]

I’m glad you’re okay

 

[Area51BS]

All I had to do was go to my dealer and ask for a letter with resale value before and after a wreck. Was not a Bronco. Adjuster will come back with a counter offer and say that’s all he or she is authorized to approve. Want more then you go back and forth. Just a game at that point.

 

[sportcoupe]

You have to negotiate diminished value with your insurance. It's not automatic or a fixed value.

 

[Alcotune]

Hey all,

Looking for some advice here. A car blew a red light and hit me while i was going through the intersection. Just got discharged from the hospital, and I'm going to check out the damage in the tow yard tomorrow (didn't get any pictures of the accident since I couldn't move from the driver's seat).

I was doing some research about diminished value after an accident since a car as new as a bronco is definitely going to lose some value compared to something brand new. Problem is, I can't find comparables online (2 door, wildtrak, lux package). Edmunds has zero 2 doors with accidents for sale.

Does anyone here have any experience with diminished value broncos post accident? I would appreciate any and all tips in regards to this event, but for now, more ice...

That sounds like a job for a Lawyer. Not a Bronco but my wife had a similar accident in a 5 year old CRV, insurance paid $16k to fix it. My wife was never comfortable driving it after so she wanted a new vehicle, the Honda Dealer wouldn't take it on a trade and she ended up trading it to Ford for nearly half the value of a similar non-accident vehicle.

I would push for it to be wrote off unless you are going to keep it forever, then diminished value shouldn't mater.

 

[Southern Girl]

I'm sorry someone hit you. It's the worst. Take care of yourself.

 

[Rydfree]

All I had to do was go to my dealer and ask for a letter with resale value before and after a wreck. Was not a Bronco. Adjuster will come back with a counter offer and say that’s all he or she is authorized to approve. Want more then you go back and forth. Just a game at that point.

Always show up on crutches or in a wheelchair for any negotiations

 

[1st 75th ranger]

Hey all,

Looking for some advice here. A car blew a red light and hit me while i was going through the intersection. Just got discharged from the hospital, and I'm going to check out the damage in the tow yard tomorrow (didn't get any pictures of the accident since I couldn't move from the driver's seat).

I was doing some research about diminished value after an accident since a car as new as a bronco is definitely going to lose some value compared to something brand new. Problem is, I can't find comparables online (2 door, wildtrak, lux package). Edmunds has zero 2 doors with accidents for sale.

Does anyone here have any experience with diminished value broncos post accident? I would appreciate any and all tips in regards to this event, but for now, more ice...

metal can be replaced
you cannot be happy drive your bronco beast around and laugh with the rest of us

 

[BootyWizard]

sorry for reviving an older thread - finally got the estimate, which came back at nearly $20,000 in repairs. Insurance okay'd it. I'm wondering if anyone has any data about broncos with accidents and their sold values.

 

[mcinfantry]

Use a dv company. iirc you can only get DV from the other persons insurance…

 

[Hdscreens]

The actual cost to repair it will likely be closer to $25,000. Estimates are usually a little lower to get the job in the first place and once they are in on repairs the ins has to see it thru. I negotiated the diminished value on a wrecked vehicle with ins and they paid out the difference.

sorry for reviving an older thread - finally got the estimate, which came back at nearly $20,000 in repairs. Insurance okay'd it. I'm wondering if anyone has any data about broncos with accidents and their sold values.

 

[DrakeYounger]

I’ve been through a similar situation. After my accident, I had a hard time finding accurate info on diminished value for my car.

 

[thholr]

Not an exact science here. It also depends on how well the repair is done. We had a $25k accident in our 2022 Mercedes SUV ( valued at about $59k ) and we settled on $7k in diminished value. The repair was done incredibly well. The problem with just asking a dealer i that they will never give you a solid answer or something in writing, because they would need to see both vehicles side by side at the same time. Too much changes otherwise. You can hite someone to give you an appraisal of the vehicle afterwards and compare that to market. You will need lots of documentation of similar vehicles in both states as a comparison. This is what some DV companies do . Lots of homework.

 

[projectbadlands]

Same happened to me. Someone turned in front of me and I slammed into their car. $38k in repairs later, I also claimed injury, loss of income, rental expenses and diminished value. For DV, the at-fault insurance declined me and declined me and declined me. Their wording was OE parts were used and repairs were performed at a certified shop so the car did not lose any value. Any argument I would present, paperwork from the dealer, websites showing pricing difference before and after an accident would get shut down and nothing was offered.

So I walked into the courthouse and filed a small claims for $10,000 (max allowed) and paid to file the case, paid to get the other driver served and paid court fees. The day came to present my case and judge saw it my way but only allowed $5k plus all expenses reimbursed. With judgement in hand, the other insurance finally paid it all.

Sucks for them, I would have settled for a lower amount just to get it over with. I do not plan on selling the bronco so I do not expect to get hit with that loss of value anyway.

 

[Woivod]

I hope you’re recovering well! I’ve been in a similar spot with a newer car after an accident, and the whole "diminished value" thing can be tricky. I had a friend who was in a similar situation with his Jeep after an accident, and while it wasn’t a Bronco, he was able to get some advice from a Tulsa Car Accident Attorney about how to calculate the value loss. They helped him navigate the insurance process and get the best settlement. For your Bronco, even though it’s tough to find exact comparables, I'd suggest asking the appraiser to consider the model's rarity and the accident history when evaluating the value.

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