Anybody Ask For Diminishing Value Compensation?

[JayTea]

My car was hit while parked at work. The man that hit it, is an honest man and came to find me. His insurance is taking full responsibility. My car is going to the ford body shop on Tuesday and a quick "pocket estimate" was done.

My questions is has anyone ever asked for diminishing value compensation? If I wanted I can no longer sell my mustang at what it would have been with a clean title.

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[slink]

I was hit in a parking lot 2 years ago. Yes, ask for diminished value. I would speak with your insurance company first to find out what is a reasonable amount before negotiating with the other party's insurance.

 

[Mustanggt5.02011]

Most of the time small little fender benders don't even show up on a car fax. If there was no police report done then chances are there won't be a report on car fax. The car should be good as new after so you can try and ask for diminishing value compensation but good luck. In general your vehicle will depreciate more then this accident will effect it. I would not disclose it and it won't be an issue.

 

[yote41]

Police do not report to carfax. Insurance companies do.

 

[slink]

I traded in the car last year. It was a 2016 Mustang GT Convertible. Dealer asked me if the car had been in an accident. I was truthful and explained the accident in detail. This did not affect my trade in value. Dealer stated that Carfax said my car was accident free. Dealer stated that not all repair shops report to Carfax. Carfax is really just a marketing tool.

 

[Dave TBG]

Police do not report to carfax. Insurance companies do.

A bunch of years ago I got bumped by an elderly man who was weaving like a drunk. He made no effort to stop so I followed him while my wife called it in. Eventually we both ended up on the side of the road with a couple of troopers. Long story short, the damage was minimal and he wasn't drunk, just old, so we all went on our way after the report was taken. The next day I popped the dent out of the bumper with a heat gun and compounded his paint off it. No insurance claim, no body shop no paper trail for any repair at all. It showed up on carfax at trade in time.

 

[bjc24v]

That sucks, I feel for you. Its good to know that good folk still exist in this angry world!

 

[Cardude99]

A bunch of years ago I got bumped by an elderly man who was weaving like a drunk. He made no effort to stop so I followed him while my wife called it in. Eventually we both ended up on the side of the road with a couple of troopers. Long story short, the damage was minimal and he wasn't drunk, just old, so we all went on our way after the report was taken. The next day I popped the dent out of the bumper with a heat gun and compounded his paint off it. No insurance claim, no body shop no paper trail for any repair at all. It showed up on carfax at trade in time.

No shit, really? That is the ultimate FU by the man. Sorry dude, that sucks

 

[JayTea]

I think I'll call my insurance and see what they say. I'm sure it'll get reported since I'm taking it to ford to fix.

 

[Blown86GT]

A bunch of years ago I got bumped by an elderly man who was weaving like a drunk. He made no effort to stop so I followed him while my wife called it in. Eventually we both ended up on the side of the road with a couple of troopers. Long story short, the damage was minimal and he wasn't drunk, just old, so we all went on our way after the report was taken. The next day I popped the dent out of the bumper with a heat gun and compounded his paint off it. No insurance claim, no body shop no paper trail for any repair at all. It showed up on carfax at trade in time.

And the police let the old man drive away? Not everyone should have a drivers license. Yet another instance that highlights we need to have re-occurring testing for drivers...

To the OP, sorry to see that. Not exactly sure how someone hits a parked car....good luck.

 

[Zooks527]

Police do not report to carfax. Insurance companies do.

Police, insurance companies, and repair shops.

When my 335 was rear-ended on the highway, the MA State Police reported it. One dealer I used also reported standard maintenance.

 

[Zooks527]

I think I'll call my insurance and see what they say. I'm sure it'll get reported since I'm taking it to ford to fix.

You can tell your dealer that you do not want it reported. At least here in MA, you can demand it under state privacy laws. I'm sure this varies by state.

 

[Jetnoise]

A bunch of years ago I got bumped by an elderly man who was weaving like a drunk. He made no effort to stop so I followed him while my wife called it in. Eventually we both ended up on the side of the road with a couple of troopers. Long story short, the damage was minimal and he wasn't drunk, just old, so we all went on our way after the report was taken. The next day I popped the dent out of the bumper with a heat gun and compounded his paint off it. No insurance claim, no body shop no paper trail for any repair at all. It showed up on carfax at trade in time.

What did it say on the car fax?

 

[activeGT]

Police do not report to carfax. Insurance companies do.

au contraire...

 

[activeGT]

But I have to say that Carfax is BS. you get a scrape and Carfax kills the value of your car. One reporting agency and nobody has challenged their claims or what it costs car owners tons in lost value regardless of the damage.

It's about time somebody files a class action suit against them for this crap.

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