Quote:
Originally Posted by doug_999
1. I don't think all States allow diminished value.
2. Even if you are to get it, the argument that I got was "you have no diminished value until you go to sell the car" Meaning, your hit today is a lot worse than tomorrow - but ultimately you have no real loss... unless you are selling the car today.
I really wish there was some general across the country formula. For me (actually my wife) the diminished value on her 2010 Cooper Clubman ended up being near $0 as she kept is an additional 7 years. But had she sold it immediately after the 96 year old lady parked next to it, turned her wheel the wrong way and then backed up, removing the side of the car... it would have been more.
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The formula I found when I just went through this is based on 17c formula diminished value