Amen! and again I say, Amen! The courts never should allowed this case to ever get to a jury. The claim was utter nonsense. Borders on “concurrent
causation” which is also outrageous.
The Insurance Contract is supposed to put you back in the same position you were before the loss, no better or no worse. If you have $10,000 worth of repairs to a 2002 Lexus you can be sure that the dealer will reduce the trade in value of your car by 10%. Most appraisers at dealerships are able to pick out damaged vehicles (they may have even been the body shop that repaired the car). They may have to wholesale the car rather than put it on their lot.
To James:
I would say to you that the vehicle owner does not sustain an actual loss until he actually sells or trades in the vehicle and the buyer becomes aware of the previously repaired damages. Even when the buyer/dealer becomes aware, the “loss” or “diminished value” is not a “hard” figure. A sideswipe of the entire left side of my Me/BE does not affect the chassis or frame of the vehicle. Once the body panels are replaced with OEM parts, no one really cares. If you were to pay a percentage of the damges (cost of repairs) as diminished value, the vehicle owner is thereby actually enriched.
Depending on what dealer you use, if you admit to significant body damage on a vehicle, your trade-in value will be dimished, no matter how well the vehicle was repaired.
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Amen! and again I say, Amen! The courts never should allowed this case to ever get to a jury. The claim was utter nonsense. Borders on “concurrent
causation” which is also outrageous.
The Insurance Contract is supposed to put you back in the same position you were before the loss, no better or no worse. If you have $10,000 worth of repairs to a 2002 Lexus you can be sure that the dealer will reduce the trade in value of your car by 10%. Most appraisers at dealerships are able to pick out damaged vehicles (they may have even been the body shop that repaired the car). They may have to wholesale the car rather than put it on their lot.
To James:
I would say to you that the vehicle owner does not sustain an actual loss until he actually sells or trades in the vehicle and the buyer becomes aware of the previously repaired damages. Even when the buyer/dealer becomes aware, the “loss” or “diminished value” is not a “hard” figure. A sideswipe of the entire left side of my Me/BE does not affect the chassis or frame of the vehicle. Once the body panels are replaced with OEM parts, no one really cares. If you were to pay a percentage of the damges (cost of repairs) as diminished value, the vehicle owner is thereby actually enriched.
Depending on what dealer you use, if you admit to significant body damage on a vehicle, your trade-in value will be dimished, no matter how well the vehicle was repaired.