I’m looking for a bit of advice and what to expect with this situation. I rear ended on freeway by a guy who drove a contracting company car.
Relevant information
2015 Hyundai Sonata Hybrid Limited MSRP $32,600
less 1000 miles
Damage to rear bumper
Repair estimate is $1,500 for now (they are replacing the bumper and some sensors)
My insurance: Robert Moreno Insurance Services: RMIS
His insurance: The contracting company that he work for was listed as the insurance company (not disputing any facts and taking responsibility)
State: California
Repair is being done at the dealership partnered repair shop and they are paying the shop directly. I payed for my rental and trying to get them to reimburse me.
Given that information, is it worth pursuing a diminished value claim? How could I get the right price for the diminished value claim? I don’t want to get a lawyer involved in this.
It is called a bumper for a reason. I know you are PO since it is a new car. Based on the price, I am assuming it is a regular, remove, repair, paint and put it back on. It should not diminish any value from the car. Just make sure you get a warranty on the work esp if the paint starts to look a different hue in a year or two.
I have bought quite a few off lease 2-3 year old cars and I am sure most had their bumpers painted. I didn’t think much about it, just would check the under/other panels to make sure there was no extensive damage.
I don’t see how a damaged bumper and a $1500 repair diminishes the value. That’s what bumpers are for. I would be sure though to have the car inspected for any frame damage that may be hidden. Then you’d have a case, but $1500 is not much damage these days with refinishing and blending.
The answer to how a damaged bumper diminishes the car’s value works like this. A potential buyer, when the bad Carfax becomes known, will bargain to get the car for less if still interested at all. Knowing this, the pre-owned manager at your dealership automatically has to offer you less for your trade-in. I’d guess that you have lost $1,500.00 - $2,500.00 in value as a result of the car undergoing collision repairs. I prepare diminished value reports every day using only dealer quotes and the number of managers stating that a car would have absolutely no loss in value is 1out of every 500 and its usually because the subject car is a hot seller and there were no frame or airbag repairs.
Doesn’t matter if Carfax is reliable. Just having an accident show up will scare some buyers off, serious accident or not. How much that affects value is the question. I have no idea.
Basically, a bumper is a “sacrificial” part that is designed to get beat up and spare the rest of the car. Just like a suitcase is designed to protect its contents by getting scuffed up through use. This seems awfully ticky-tack; I think of DV as more for frame damage, salvage titles, and other “real” accidents.
A buyer can choose to pay less for any reason; the “Honk if you like bingo” bumper sticker or whatever. Seems unlikely that a) CF actually gets the info, b) CF accurately reports it, c) buyer actually bothers to research CF, d) buyer alters purchasing decisions as a proximate consequence.
So then if 499 used car managers out of 500 would discount the value $1500-2500, I’m sure they would pass that lowered cost onto the buyer? Or am I dreaming? A rubber bumper cover? Maybe replacing tires with non-original would have the same impact. I guess time to hire a lawyer or claims advocate and recover that DV. I wonder what impact that has when the claim is listed on the nation-wide claims history data base. I would guess rates can be increased or policies cancelled based on adverse claims history. I hope they don’t find the repaired scratches on my bumper when I trade.
Why not go to the used car manager at the dealership where the car is being repaired, and ask? If the answer is Yes, that there is a sort of automatic deduct for a carfax reported accident, get it in writing and send a certified letter, return receipt requested, to the insurer. Tell them exactly what you want and why, include the rental car, include everything that is related to the accident (lost work time, your broken coffee cup, the post-traumatic stress syndrome that keeps you up at night (kidding about that one, I hope)), attach copies of all your bills, and give them 2 weeks to reply. If they blow you off, simply send a copy of your claim letter to the State agency that regulates car insurers, and ask for help.
There’s no reason to rush to do this as most states allow at least a year to file this sort of claim.
Ya know I do not know how that factors in, our leased vehicle rearended at a stop light 1 month old. Assuming at this point no problem. Called Kia as long as the car was repaired no problem, he says in a situation like that you are better with a lease than if you had purchased it, you will get agreed buyout offer or turn it in, no penalty, buyout offer is 13K for a 2015 optima Sept 2018.
There’s no harm in asking I suppose. I don’t see it as being economical if you have to go to court. But maybe the other’s drivers insurance company might see it your way if you ask. You could also ask your own insurance agent what they think.
I expect the answer will be that it is just not worth it, if you place much value on your personal time I mean. I think your idea to ask for reimbursement for your rental car has a better chance.