PyrPatriot
Well-Known Member
- Joined
- Oct 27, 2019
- Threads
- 193
- Messages
- 2,669
- Reaction score
- 1,859
- Location
- Kentucky, USA
- Vehicle(s)
- JT Sport S Max Tow; Honda Element
- Thread starter
- #46
Yes. I am. Because when I traded in my Civic with under 50k miles on it the 3 collisions it has been in, none of which required it needing repairs and none were my fault, resulted in a loss of $6k in trade in value.Your trying to sue for diminished value over a new rear bumper. Your just trying to squeeze as much money out of the accident as possible.
Once again I haven’t had an issue with trading in vehicles after they have had accidents.
Your also going off of msrp for your loss of value when you paid 3k less than msrp so you’re math is already wrong. That’s like someone buying something for $100 with an MSRP of $200 and then selling it for $90 and complaining that they lost $110 when they only lost $10
As for my math, it is not off at all. I compared the value of vehicles being listed/sold with similar features, original MSRP, and mileage of my JT. I also used a CarFax, KBB, and Autocheck to see the range of values for my vehicle. I then went and looked at trade in offers for my vehicle and compared trade in estimates from said reports. I could have taken it further and spent a few hundred on an expert to appraise the vehicle independantly, but honestly all figures were pointing to my vehicle being offered $6k less than other vehicles of similar condition without a collision. Then dealerships saying that the value was less due to a collision in the history led me to claim for diminished value. I felt what I got was fair and decided not to actually file a lawsuit for more and hire an expert. I could have, it's an easy process. But, I was happy enough to not push it any further.
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