So what's this gonna cost me?

[Donstar]

20 hours ago, 2017_whitez71 said:

Why wouldn't be diminished value?  It will more than likely show up on Carfax since it was reported to insurance company.  If he trades the truck in or sells it, he will surely take a small loss on value.  I agree it wasn't a major accident, but it was still an accident.  I received $4800 for mine, but mine was more severe.

 

Many provinces have a $2000 threshold where accidents do not need to be reported.  This of course is  if no injuries or unlawful events have taken place.  I had my '00 Silverado into the body shop a few times for popping out minor dents. (I quit sharing after that truck!)  This particular truck was in flawless condition when sold and certainly didn't deserve a diminished value.  My '09 had the front bumper replaced due to a parking lot encounter.  No report.    I am in full support of the practice of awarding diminished value, but the OP's mishap should not impact resale or qualify, imo.  

[2017_whitez71]

I agree with you that the accident probably won't effect the value of the truck, but it might.  Since the insurance company was involved, there will be a report about the accident.  Sounds like the insurance company just offered the diminished value, so might as well take it.  I had to fight for mine. Took an appraisal, small claims court filing, and months of time.

[SquireSCA]

Yeah, I didn't ask for it, but there was some sort of big lawsuit several years back and State Farm was one of the primary companies names in the suit.  The GA courts ruled against them and now it is required by law that when they cover your accident, that the accident is defined as the total cost of making you whole.   It's not just what it took to fix the issue, but also any diminished value as a result of the accident.

[Loco-diablo]

On 2/3/2018 at 2:57 PM, gmissed said:

This ^^^. I think people do it just to pizz me off.

I park where no logical person would park right next to me because there are several other empty spots where I park.

95% of the population is to friggin lazy to walk.

[duquephart]

16 minutes ago, Loco-diablo said:

I park where no logical person would park right next to me because there are several other empty spots where I park.

95% of the population is to friggin lazy to walk.

 

I get a big kick out of folks looking for the closest spot to the door ----- at the gym! I've seen people squeeze into a spot and then can't open the door far enough to get out when three spots further down they've got the whole lot to play with. The depths of human stupidity!

[2018GMC]

Hey that Gym bag is heavy! Don’t want to have to carry it that far. I have to conserve energy for my workout 

 

;-)