Quote:
Originally Posted by Goebel734
Unfortunately in most cases, depreciation in calculated on a percentage of the amount of damage. I run a collision repair shop and have done so for 25 years so I have a little experience. You are probably going to need a lawyer if they "low-ball" you on depreciation. Also, be aware you can not get depreciation from your own company. I personally fought with a company for almost a year on vehicle value of a 2008 Hummer Alpha H3 I had that was hit and totaled, and it took two different lawyers.
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Thank you for the reply and the experience. The other vehicle had insurance but they are denying my claim because although it appears he was the brother of the owner and had the keys they are claiming he was an unauthorized driver. My insurance company is paying under the uninsured motorist portion and has stated that I am entitled to make the diminution in value claim since it is under the uninsured portion even though it is my insurance.
Since my original posting I have found several companies online that appear to do nothing but appraisals for these types of claims and am doing some research to try and find a good one to enlist their help.
I feel confident that dealers would low ball trades and I'm going to have to take a sizeable hit if I ever had to sell the car and that doesn't sit well with me after being hit from behind. The driver did get arrested for DWI and failure to identify since he presented me and the police with a fake Mexican Drivers License. Oh and did I mentioned I had to chase him down because he kept going. Good news is a Dodge Ram truck is no match for a Z/28 and being drunk he wasn't smart enough to go off pavement which would have abruptly ended my ability to follow him.