1StGenCL

I was just reading the other thread on here about this as my mom called. She bought a new 2012 Passat Diesel and within 9 days of ownership, an escalade ran a light and did a bit over 10 grand in damage to it. A month later she has it back but she is going for diminished value as the insurance company suggested.

They said she needs an appraisal and then they will give her what they feel is fair in diminished value. Problem is NO dealer will give her a written appraisal due to liability (they claim). Independent appraisers she has talked to seem shady and want $250-$350 for the report. Does this seem correct? If not, how does she go about getting an estimate?

She has been to: our local Acura dealer whom we have bought tons of cars from, VW dealer she bought it from, carmax, different VW dealer, along with a few other random dealers. She bought a CarFax for it and they only took $1,100 off but I feel a dealer is going to kill her if she ever trades it.

Thanks

pttl

I'm not sure how to get a fair appraisal. But you are correct, she will be destroyed in a trade. I lost a minimum of 3K on the trade of my TL because of an accident I had. And that was on a, fanatically kept and maintained, 6 year old car with 107K miles on it. If it were newer...the loss would have been greater.

That situation really sucks.

charliemike

I would say if Carmax is going to give her $1,100 off for a Passat that has $10k worth of damage you need to let 1stGenCL know where that is so he can drive there to trade in his MS3 : /

Seriously, if she's only going to lose the $1,100 from Carmax and can get that via insurance she should just trade it and get a new Passat. Start clean. Then she'll know for sure ...

nj2pa2nc

it will then have on record that is has diminished value so that definately will go against her if she trades the car in or tries to sell it.

oo7spy

CarFax, not CarMax.


Ask the insurance company. They have teams of appraisers that are used to run their business. If they won't help, get a private appraiser. It would be better to spend $300 to get $2k (low estimate) back than nothing.

1StGenCL

Forgive my ignorance but they will put on record she received diminished value and what she received?

CharlieMike - CarFAX said it was only $1,100 decrease in value while CarMAX refuses to look at it due to it being so new and the recent accident

charliemike

Seriously, my brain is f'd up today.

Sorry about that. What does the VW dealer say? I mean if she wanted to trade it in for a new one, they'd have to make a decision right? She could go to a dealer, go through the nonsense of making a trade for a new one and then take that and say she's going to take it to her credit union or whatever to find out how much her payments would be.

Of course, it would require her to likely have to shed tackles getting out of the dealership without signing the deal ...

1StGenCL

This is what I recommended when she was having trouble. I said go and tell them you don't feel uncomfortable with the car due to the accident and want to trade it in on a new. She didn't like the idea because it was lying but she is starting to see she may have to.

I talked to some other people that have worked at dealers and they said she probably won't be able to get a solid number on paper from a dealer. Any recommendations for independent appraisers around central Florida?