We recently had someone attempt to take off the right side of our '03S. Although there is no structual damage, the estimate to repair is $7500.
We are now considering taking this opportunity to sell it privately or trade it for an '06.
The dealer tells me NC law requires that I disclose the damage to the new buyer. Of course, the dealer knows about it since he is the one repairing it. He also advised me that it is no longer worth as much as it was prior to the accident. To offset that, he suggests we file a "loss of value"(?) claim with the other driver's insurance company. I've not heard of this.
Has anyone had experience with this process that they would care to share with me?

 

I would start with your insurance agent. He/she should be able to explain it to you, especially as it relates to laws in your particular state.

 

Since your dealer seems to know about this, try starting with a statement from them showing value before and after. If you can get several similar statements, that will go a long way toward establishing your claim.
Do not be swayed by the insurance company's initial response, which will likely be "oh, we don't pay for that". Politely inform them that, while they may not have done so in the past, they will be doing so now. If necessary, involve your state insurance commissioner and an attorney.
In situations involving money, it does not pay to be a nice person.

 

if your car is worth say $3000 less after an accident and complete repair then you really can get that back from the insurance company as loss of value. Just check it out, because (as gt6 said) different states have different restrictions and tort rules.

 

By all means file a "diminished value" claim as your car has already depreciated at least 20-25% off current market value prices. Whatever money you get from that claim plus what you get for the car will help you get into a new one.

It is difficult to sell a car that has had severe body repair damage. Expect to lose money on it, but then again, if you successfully file for diminished value claim you may be able to compensate and come out of the car in better shape.

 

It does pay to be a nice person. Just be firm, polite but stick to your guns. Being rude does not get you anywhere.

 

I suggest immediately getting the dealer to give you a trade-in value in writing. then get the trade-in value from kelly blue book. Get the difference covered in your loss of value claim and order a new MINI with it. If you hold the dealer to the value they gave you, you shouldn't really lose anything except the amount the car had depreciated before the car was damaged. Once you have a new MINI, that will be no big deal.

 

I didn't mean be rude, just don't roll over and play dead.

 

Gotcha!

 

Hey folks, thanks for the advice. I'll begin this adventure in the morning.

Thanks again

 

Just got my MINI back last Friday after $2,000 in repairs. I asked for "diminished value" and their insurance company, Trader's Insurance, said they would consider my claim. They are suppose to have someone out to my house this week to look at my car after the repairs. Of course, even if the repairs are perfect, the value of your MINI is reduced after body repairs.

I'll let you know what happens. Also, the people at this website:
http://www.collisionclaims.com//free...shedvalue.html


are very helpful and will assist you in determining how much to ask for. If you need them they charge $200 for their services in helping you collect. The phone help and estimate of diminished value are free. I have them in "standby" in case I need them. They told me they are 99% sucessful in getting insurance companies to pay diminished value claims.

Good luck.