Unless your state insurance laws cover the issue of diminished value or you’re willing and able to sue in civil court, you’ll not get it. Even f you sue the problem is in proving the loss. I returned a new car after two months because of a back problema and lost 16% to depreciation. You’ve been quoted a depreciation of 20%. That’s perfectly within the norm. The car is now a used car, accident or not.
My suggestion is to have it properly repaired under the insurance, ask your insurer about depreciated value, and if there is none and the car is running like new again simply enjoy the car.
In 2005 I was hit in my then 5 month old tC. I brought it straight to the dealer’s body shop. $7,000 in damages. I checked and was unable to get deperciated value. The car was fully repaired, has run perfectly since, and I’ve enjoyed every mile, all 137,000 of them. I love the car. But I had to let the mental pain pass.
I was rear-ended. My insurance (Amica) will pay for the repairs
What is going on here. You were rear-ended, “the police report states that it was the person who rear-ended me fault”
Why is your insurance company paying? Did the other driver run?
Your insurance company gave you or gave you access the that fat contract you agreed to. It likely allows them to do exactly what they are doing. Some policies would replace your car with a new one, but that policy would be a lot more expensive than the one you have. You get to use the price gun to choose your own price, but you also choose less coverage if you choose a low price.
I suspect that right now, your best bet (from an economic point of view) is to keep your car and don’t worry.
If you don’t understand first party vs third party then you won’t be able to recover. Third party recovery is governed by tort law and diminished value is almost always recoverable under tort law, but first party claims are regulated by contract, it is the insurance policy that dictates what is paid for. If you have a first party claim, you likely won’t recover diminished value unless you are in Georgia, Oregon, or a few other states that allow it. If it is a third party claim, then you will surely recover if you prove your loss in an acceptable and credible manner. You need a professional to provide a certified report, not a used car salesman or online calculator. One requirement of appraising value is that the appraiser actually inspect the property that is to be appraised.
it wouldn’t surprise me if you depreciated about 15% when you drove it off the lot, which would be $22,575. $21k is not all that bad, really. But definitely do what texases suggested.
While cars do depreciate as soon as you drive them off the lot, it seems pretty excessive to lose $5,500 in the first 50 miles of ownership. (unless you really got taken for a ride by the dealer pricing) I’ve seen cars for sale as “new” from dealers with that many miles on them just from test drives and shipping.
Put 5,000-10,000 miles on it and I could see that, but 50 miles? Makes me glad for once that I always buy used. I hope it turns out alright. If you have the car for 5 or more years, it will probably average out.
I think insurance companies would consider “diminished value” of cars in accidents a giant can of worms. They go buy NADA and other data to value used cars and determine the extent of their coverage and claims payments. By the time you found and paid a really sharp lawyer to make a case for diminished value the lawyer would cost more than the money you’d hope to recover.
Bottom line, a new car isn’t new the instant it is registered and titled to an owner. The number of miles isn’t that be a factor, it could be 50 miles or 5,000 and not make a difference. The issue for you is your new car was in an accident and doesn’t feel new anymore. I don’t think there is anyway you can recoup the psychological impact of the accident on your feelings about your car.
Correctomundo, You Wise Woof.
CSA
In NH, the moment ownership changes hands from the dealer to another party (the purchaser or the lienholder) the car can no longer be sold as “new”. It must, by law, be sold as “used”. That alone drops the value a few grand or more immediately. I suspect most state laws are similar.
I believe you… It just boggles the mind 
It boggles the wallet too.