BMW M3 Forum
BMW M3 Forum BMW M3 Gallery BMW M3 Reviews BMW M3 Social Groups BMW M3 Chat M3Forum Sponsors >>
Loading


Mobile M3forum
Go Back   BMW M3 Forum.com (E30 M3 | E36 M3 | E46 M3 | E92 M3 | F80/X) > BMW M3 Discussions > E90 M3 (Sedan) | E92 M3 (Coupe) | E93 M3 (Convertible) (2008-2013)
Tire Rack Buy Winter Tires Now!
Not a member? Register Now!
Register Gallery All Albums Garage Search Today's Posts Mark Forums Read Calendar FAQ

E90 M3 (Sedan) | E92 M3 (Coupe) | E93 M3 (Convertible) (2008-2013) {Engine: S65 - Max Hp: 414 hp (420 hp Euro) at 8,300 rpm / 295 lb/ft at 3,900 rpm}


Reply
 
Thread Tools Display Modes
Old Thu, Apr-19-2018, 09:07:30 PM   #1
blonge1
Registered User
 
Join Date: May 2014
Posts: 23
In the garage:
Reputation: 0 blonge1 is on a distinguished road

United States




Default Diminished Value on my 09 M3

I have a 2009 BMW M3 coupe in LeMans blue metallic over speed cloth. The car was rear ended about June 2017, and I am trying to get a diminished value claim on it after having the car fixed. The insurance is offering $450 DV, but I feel this is a bit low given how much accident history affects the value of these cars. This accident happened a week and one day after I purchased the car, and the car had 88k miles at the time. The car has never been in an accident prior to this. The total amount of the repair was 2400ish, and included the rear bumper cover replacement, rear crash bar replacement, trunk lid repair, and rear quarter repair. I'd like to get some opinions on what you all think this diminished value amount should be. Thanks.
Jump to top blonge1 is offline   Reply With Quote
Sponsored Links
Register now and remove these ads
Old Fri, Apr-20-2018, 01:08:15 PM   #2
Susan
Registered User
 
Susan's Avatar
 
Join Date: Nov 2017
Posts: 3
Reputation: 0 Susan is on a distinguished road

United States




Default Re: Diminished Value on my 09 M3

A bit low? Most lose 15% of trade-in value for a scratch repair.
Jump to top Susan is offline   Reply With Quote
Old Fri, Apr-20-2018, 04:35:43 PM   #3
Goose81
Registered User
 
Join Date: Mar 2011
Posts: 784
In the garage:
Reputation: 0 Goose81 is on a distinguished road
Location: St. Louis

United States




Default Re: Diminished Value on my 09 M3

Quote:
Originally Posted by Susan View Post
A bit low? Most lose 15% of trade-in value for a scratch repair.
Absolutely, he should receive about 5x that amount.
Jump to top Goose81 is offline   Reply With Quote
Old Fri, Apr-20-2018, 04:40:09 PM   #4
tdott
Registered User
 
Join Date: May 2010
Posts: 77
Reputation: 0 tdott is on a distinguished road

United States




Default Re: Diminished Value on my 09 M3

You probably should have acted sooner, If you got a carmax appraisal or another you could have more quantitative proof of how much the value went down since you purchased it weeks before the accident.

Now it will be harder to build your case for the claim.

You could try getting an appraisal and compare it to what cars with no accidents are selling for.
Jump to top tdott is offline   Reply With Quote
Old Sat, Apr-21-2018, 03:11:00 PM   #5
Al Soobie Guy
Registered User
 
Join Date: Oct 2017
Posts: 9
In the garage:
Reputation: 0 Al Soobie Guy is on a distinguished road

United States




Default Re: Diminished Value on my 09 M3

There is literally no way to prove diminished value, any claims even if you back up by research are hearsay. Until the car is sold there is no real estimate and even then judge will agree that other factors are present when selling including negotiation skills and your need to sell.

You can pay a 3rd party inspector 300$ to estimate DV and still it wont guarantee jack. Only thing that will hold up in court yet still wont guarantee you will get paid.

Counter offer them 800 and settle for 600 and be happy you got anything.

Dont cash the check until you decide to settle. If you cash 450 then take them to court case will get dismissed as cashing the funds counts as accepting their offer.
Jump to top Al Soobie Guy is offline   Reply With Quote
Old Sun, Apr-29-2018, 08:37:33 PM   #6
Car#36
Registered User
 
Join Date: Jul 2016
Posts: 73
Reputation: 0 Car#36 is on a distinguished road

United States




Default Re: Diminished Value on my 09 M3

DV, becomes relative if you're selling/trading it in. Example, you go to trade, dealer offers you $x minus amount they determine the accident/repair diminished the value.
The fact insurance co. is offering something, is just to close this off there responsibility. Obviously, the longer you keep the car, the less it(accident)will diminish the value as a percentage. You can try for more, as noted above, but likely they won't do much more. If you're keeping the car, the insurance company only needs to fix it, extra money is a bonus.
Accidents, even if not your fault, cost you at some point on value.
__________________
2013 BMW M3, E92, Silverstone, CF roof, splitters, grills, mirrors, Comp pkg, DCT
Jump to top Car#36 is offline   Reply With Quote
Old Thu, May-10-2018, 03:31:42 PM   #7
jtdr35gtr
Registered User
 
Join Date: Oct 2017
Posts: 16
Reputation: 0 jtdr35gtr is on a distinguished road

United States




Default Re: Diminished Value on my 09 M3

Good luck with any diminished value claim. My GTR was whacked hard and after fighting tooth and nail I got only 2k when in reality it probably reduced value closer to 8-10k simply due to the accident stigma for a purchaser.
Jump to top jtdr35gtr is offline   Reply With Quote
Old Sat, May-12-2018, 05:03:25 AM   #8
JClopes
Registered Loser
 
JClopes's Avatar
 
Join Date: Jun 2010
Posts: 876
In the garage:
Reputation: 0 JClopes is on a distinguished road

United States




Default Re: Diminished Value on my 09 M3

How do you even factor DV when depreciation is ~$2,000/year and milage is a variable?
__________________
///M Power
Jump to top JClopes is offline   Reply With Quote
Reply

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump



All times are GMT. The time now is 03:42:23 AM.


Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
M3Forum.com and M3forum.net is in no way sponsored, endorsed or affiliated by or with BMW NA / BMW AG or any of it's subsidiaries or vendors.
BMW and M3 (E90 M3 | E92 M3 | E93 M3 | E46 M3 | E36 M3 | E30 M3) are registered trademarks of BMW AG.
M3Forum Terms of Service
Copyright 1999-2017 M3Forum.com
Discussing Diminished Value on my 09 M3 in the E90 M3 (Sedan) | E92 M3 (Coupe) | E93 M3 (Convertible) (2008-2013) Forum - {Engine: S65 - Max Hp: 414 hp (420 hp Euro) at 8,300 rpm / 295 lb/ft at 3,900 rpm} at BMW M3 Forum.com (E30 M3 | E36 M3 | E46 M3 | E92 M3 | F80/X)