Diminished Value
#1
Diminished Value
My car was recently in an accident. The accident will be reported to Car Fax. I own rather than lease the car. I am concerned that when I sell the car it will be a lot more difficult to sell because of the Car Fax accident issue. The insurance company is willing to work out a dollar "diminished value" settlement. However they want some kind of dollar amount basis to go by. Any information someone can provide would be most appreciated.
#2
Junior Member
Join Date: Mar 2014
Location: Fort Pierce, FL
Posts: 21
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s600
Obtain a diminished value appraisal either from us at St. Lucie Appraisal or a number of other independent appraisers offering this service. We base our diminished value figures on the opinions of six Mercedes-Benz dealers local to you. Other appraisers use formulas, algorithms, auction results, etc. Your car does bot need to be physically inspected. After all, it is already repaired. If there was unibody damage, your car's loss of value is through the roof. Expect the insurance company to nickel and dime you but most of our customers do receive fair settlement offers without having to resort to hiring attorneys. Best of luck.
#3
MBWorld Fanatic!
I traded in my 2010 E that had 2 accidents on it from previous owner. I got a deal on it due to this and did very well on a trade for a CPO E last week.