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      06-22-2018, 07:28 PM   #45
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Can you get DV on a leased car? Unfortunately, I was recently involved in a hit & run while the M was parked. Resulting in filing against my insurance.
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      06-27-2018, 09:50 AM   #46
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I couldn't find a DV expert as of now so I asked my dealership to appraise the car and also give me a number based on what it would be had the accident not occurred... I seem to have lost about $8000....
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      06-27-2018, 09:58 AM   #47
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Originally Posted by samsamdar View Post
I couldn't find a DV expert as of now so I asked my dealership to appraise the car and also give me a number based on what it would be had the accident not occurred... I seem to have lost about $8000....
That seems excessive. Could the intro of the M2cs have something to do with the lost value?
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      06-27-2018, 10:08 AM   #48
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That seems excessive. Could the intro of the M2cs have something to do with the lost value?
They said they would've given me $52k without the accident and $44k after the accident. I think that's fair since the MSRP wasn't too much higher. Typical dealer lowballing...
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      06-27-2018, 11:08 AM   #49
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They said they would've given me $52k without the accident and $44k after the accident. I think that's fair since the MSRP wasn't too much higher. Typical dealer lowballing...
$52K sounds really really high for a trade.

But heck, if they are willing to put that in writing, go get your $8K!
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      06-27-2018, 07:37 PM   #50
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$52K sounds really really high for a trade.

But heck, if they are willing to put that in writing, go get your $8K!
Let's hope I can push insurance... They really are try to avoid this whole thing lol
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      07-01-2018, 05:32 PM   #51
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Last edited by nioh_lbbm2; 07-02-2018 at 08:24 PM..
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      07-01-2018, 09:29 PM   #52
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I was just rear ended as well. Driver was probably going approximately 45 mph. Luckily I didn't get pushed into the car in front of me. I'll be using this thread for the advice you have received OP. I sure hope it's not too bad but my Remus exhaust took a bad hit as well...and it was only a couple days old.
I feel your pain! It's been a terrible process for me but I hope it goes smoothly for you... Sorry about your M!
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      07-02-2018, 06:34 PM   #53
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Originally Posted by nioh_lbbm2 View Post
I was just rear ended as well. Driver was probably going approximately 45 mph. Luckily I didn't get pushed into the car in front of me. I'll be using this thread for the advice you have received OP. I sure hope it's not too bad but my Remus exhaust took a bad hit as well...and it was only a couple days old.
Sorry to hear this. My strong recommendation is that you use a CCRC - BMW Certified Collision Repair Center. There are only about 69 of these nationwide. They are up to date in terms of doing factory certified body work on BMWs and they are held to very high standards. Also, please let us know how much damage you suffered and whether or not you'll pursue a diminished value claim after the repair is complete.
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      07-18-2018, 02:22 PM   #54
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Originally Posted by samsamdar View Post
They said they would've given me $52k without the accident and $44k after the accident. I think that's fair since the MSRP wasn't too much higher. Typical dealer lowballing...
FYI I recently interacted with someone that sold his LCI with 8k miles to the dealer for 51.5 so 52 is not unrealistic.
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      07-18-2018, 03:15 PM   #55
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FYI I recently interacted with someone that sold his LCI with 8k miles to the dealer for 51.5 so 52 is not unrealistic.
It is completely unreasistic
https://www.cars.com/for-sale/search...RCH_SHOP_INDEX
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      07-18-2018, 03:38 PM   #56
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isn't that decision up to the insurance company....feel your pain man. almost got rocked by a semi doing the same thing on the beltway last week. he had to pull into the shoulder or I would have been WIPED out!
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      07-18-2018, 04:25 PM   #57
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Just relaying the message to OP about what I found out over the weekend.
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      07-20-2018, 01:08 AM   #58
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So yeah car has diminished $8k and insurance is willing to give me... wait for it... $600!
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      07-20-2018, 11:39 AM   #59
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So yeah car has diminished $8k and insurance is willing to give me... wait for it... $600!
Wow. Just wow. I hope you find a favorable outcome. Soon.
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      07-20-2018, 12:50 PM   #60
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Quote:
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So yeah car has diminished $8k and insurance is willing to give me... wait for it... $600!
You will probably have to get a lawyer involved, preferably a friend who will do it pro bono or get one that only get their fees when there's a payout. What was their justification for the $600 offer for DV? They understand the quality of the repair doesn't have much to do with the DV right? Personally I would never buy a car w more than 10k damage unless if it was an exotic car...And even then I'd probably still rather buy an accident free one.
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      07-21-2018, 02:19 AM   #61
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You will probably have to get a lawyer involved, preferably a friend who will do it pro bono or get one that only get their fees when there's a payout. What was their justification for the $600 offer for DV? They understand the quality of the repair doesn't have much to do with the DV right? Personally I would never buy a car w more than 10k damage unless if it was an exotic car...And even then I'd probably still rather buy an accident free one.
They said they weren't allowed to explain how they got to $600...
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      07-21-2018, 08:26 AM   #62
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Can you get DV on a leased car? Unfortunately, I was recently involved in a hit & run while the M was parked. Resulting in filing against my insurance.
Technically , the lease company owns the car and is the entity that can make a DV claim as they are the actual owner.

That said .. many states title and register lease cars in the name of the lessee ( most show the lessor as the first owner ) , so it's not readily apparent that a lease is involved. Therefore many lessees do make DV claims that are paid.

It's also possible that the lease company will ding the owner for the vehicle as having been damaged during the lease ( even if competently repaired ) or they may not care at all.

There are times when I have contacted lessors to make them aware that a lessee was making a claim and some say that's ok just pay the lessee we aren't interested. :
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      07-21-2018, 08:29 AM   #63
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I couldn't find a DV expert as of now so I asked my dealership to appraise the car and also give me a number based on what it would be had the accident not occurred... I seem to have lost about $8000....
That is not an analysis of diminished value , that's a dealer taking advantage of a customer trading in to them.

Diminished value is the loss of ACTUAL CASH VALUE on the OPEN MARKET ... not a crappy dealer trade offer.

A dealership only buys a car to make a profit, not to own it.

Having not seen your repair estimate or the level of repairs needed to your car , while DV may be higher than $600.. it's also likely not 8k.

While there may be many people that simply wouldn't buy a damaged vehicle (or at least many people declare that - and I am sure some mean it ) , there are many that WILL. And what you need is an estimation of what an ACTUAL buyer would pay.
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      07-21-2018, 08:38 AM   #64
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Quote:
Originally Posted by samsamdar View Post
Quote:
Originally Posted by kivyee View Post
You will probably have to get a lawyer involved, preferably a friend who will do it pro bono or get one that only get their fees when there's a payout. What was their justification for the $600 offer for DV? They understand the quality of the repair doesn't have much to do with the DV right? Personally I would never buy a car w more than 10k damage unless if it was an exotic car...And even then I'd probably still rather buy an accident free one.
They said they weren't allowed to explain how they got to $600...
Because DV is a negotiation. Just like an injury settlement. There are no equations or math used to figure this sort of settlement out .. the only eventual way it would be decided is based on a trial and a jury making a decision.

You can pay a " DV specialist" as @DanG suggested earlier , and I bet that person WILL come up with a lot of charts and math and calculations for you .. but they aren't definitive valuations that are admissible, , certainly not in TEXAS... so while you may be paying for a report ... it's not worth much toward actually proving your case. The only U.S state that has DV as formula is GEORGIA.

The only way to PROVE DV would be to truly put your car up for sale and sell it to the highest offer you can attract in the market and then compare that value with the value of other M2 that haven't been wrecked.

Until you actually do that ... whether or not you actually experience DV is technically moot and certainly any discussions regarding DV are simply negotiations.
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      07-21-2018, 10:15 AM   #65
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Quote:
Originally Posted by M3 Adjuster View Post
Quote:
Originally Posted by samsamdar View Post
Quote:
Originally Posted by kivyee View Post
You will probably have to get a lawyer involved, preferably a friend who will do it pro bono or get one that only get their fees when there's a payout. What was their justification for the $600 offer for DV? They understand the quality of the repair doesn't have much to do with the DV right? Personally I would never buy a car w more than 10k damage unless if it was an exotic car...And even then I'd probably still rather buy an accident free one.
They said they weren't allowed to explain how they got to $600...
Because DV is a negotiation. Just like an injury settlement. There are no equations or math used to figure this sort of settlement out .. the only eventual way it would be decided is based on a trial and a jury making a decision.

You can pay a " DV specialist" as @DanG suggested earlier , and I bet that person WILL come up with a lot of charts and math and calculations for you .. but they aren't definitive valuations that are admissible, , certainly not in TEXAS... so while you may be paying for a report ... it's not worth much toward actually proving your case. The only U.S state that has DV as formula is GEORGIA.

The only way to PROVE DV would be to truly put your car up for sale and sell it to the highest offer you can attract in the market and then compare that value with the value of other M2 that haven't been wrecked.

Until you actually do that ... whether or not you actually experience DV is technically moot and certainly any discussions regarding DV are simply negotiations.
Can't you just look at sales of similar cars that were in an accident vs ones that were not to get evidence that accident m2s that were repaired sell for less?

It's obvious there is diminished value here. All of the evidence supports that. There is nothing to indicate value has not been lost.
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      07-21-2018, 10:21 AM   #66
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Quote:
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Quote:
Originally Posted by M3 Adjuster View Post
Quote:
Originally Posted by samsamdar View Post
Quote:
Originally Posted by kivyee View Post
You will probably have to get a lawyer involved, preferably a friend who will do it pro bono or get one that only get their fees when there's a payout. What was their justification for the $600 offer for DV? They understand the quality of the repair doesn't have much to do with the DV right? Personally I would never buy a car w more than 10k damage unless if it was an exotic car...And even then I'd probably still rather buy an accident free one.
They said they weren't allowed to explain how they got to $600...
Because DV is a negotiation. Just like an injury settlement. There are no equations or math used to figure this sort of settlement out .. the only eventual way it would be decided is based on a trial and a jury making a decision.

You can pay a " DV specialist" as @DanG suggested earlier , and I bet that person WILL come up with a lot of charts and math and calculations for you .. but they aren't definitive valuations that are admissible, , certainly not in TEXAS... so while you may be paying for a report ... it's not worth much toward actually proving your case. The only U.S state that has DV as formula is GEORGIA.

The only way to PROVE DV would be to truly put your car up for sale and sell it to the highest offer you can attract in the market and then compare that value with the value of other M2 that haven't been wrecked.

Until you actually do that ... whether or not you actually experience DV is technically moot and certainly any discussions regarding DV are simply negotiations.
Can't you just look at sales of similar cars that were in an accident vs ones that were not to get evidence that accident m2s that were repaired sell for less?

It's obvious there is diminished value here. All of the evidence supports that. There is nothing to indicate value has not been lost.

Sounds like a great idea! So how do you find out what all the other M2 are that have been wrecked .. and how do you find out if the damages in those collisions is similar to what happened to OPs car... and how do you find out what those vehicles sold for .. on the open market ... particularly if they were not sold on the open market and simply traded in on a new vehicle after repair ?

No one said it wasn't obvious that there is diminished value here. He has an offer from the insurance company for $600. So whether or not there is diminished value is not up for debate, what is up for debate is how much that value is.

I can tell you there are only two ways this gets decided.

1) negotiation and settlement.
2)lawsuit and a trial.

In my estimation, The chances of #2 happening are about 1% or less.
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