Diminished Value Appraiser for my new Mach-E rear ended

[cinzen]

The diminished value appraisers are a waste of money. The Insurance companies usually have their own formula and they'll stick to it unless you can find actual evidence of the value being lower which is very hard to do.

Here's the formula my wife shared with me that her organization uses for claims.

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[cinzen]

Thanks for the info

 

[cinzen]

That wasn't my experience. My Land Rover was rear ended with only 1300 miles on it and the insurance company was only going to give me a $1000 for it. The Diminished Value estimator got me over $5000

Was your DM estimator local or national? If national would you share the name please?

 

[2FlyMache]

Was your DM estimator local or national? If national would you share the name please?

They were local to the Atlanta area.

 

[cinzen]

They were local to the Atlanta area.

Thanks

 

[STLUCIEAPPRAISAL]

The members of this forum should be aware that there are many methodologies for determining diminished value. The formulas that derive from the discredited Rule 17C formula are used by both insurance companies and independent appraisers representing car owners. There are also appraisers who do book value comparisons and others who compare online used car ads showing previously repaired cars vs. others that were never wrecked. Then there are those who use "algorithms" which is a fancy term for a formula. The best methodologies will always be those where the appraiser actually does some research - picks up the phone, speaks to professionals in the business of buying and selling cars - and produces probative proof of a car's diminished value..

I agree that diminished value appraisers are a waste of money if they use short cuts and then don't provide customer service for the life of the claim. There are good ones out there whose reports are taken more seriously by insurance companies.

 

[cinzen]

The members of this forum should be aware that there are many methodologies for determining diminished value. The formulas that derive from the discredited Rule 17C formula are used by both insurance companies and independent appraisers representing car owners. There are also appraisers who do book value comparisons and others who compare online used car ads showing previously repaired cars vs. others that were never wrecked. Then there are those who use "algorithms" which is a fancy term for a formula. The best methodologies will always be those where the appraiser actually does some research - picks up the phone, speaks to professionals in the business of buying and selling cars - and produces probative proof of a car's diminished value..

I agree that diminished value appraisers are a waste of money if they use short cuts and then don't provide customer service for the life of the claim. There are good ones out there whose reports are taken more seriously by insurance companies.

 

[cinzen]

How would I know or go about finding a reliable good appraiser? I surely don't want to throw money at a losing cause.
I have quotes from Cargurus and Vroom and was going to go to a local dealership for a sale price.

 

[STLUCIEAPPRAISAL]

How would I know or go about finding a reliable good appraiser? I surely don't want to throw money at a losing cause.
I have quotes from Cargurus and Vroom and was going to go to a local dealership for a sale price.

Read reviews, that's a good start.

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