Diminished value
02-11-2023, 09:27 AM
#21
Pro
Thread Starter
UPDATE for those interested:
I got my VETTE back in late December 2022. I found a couple of more things that were broken and not known until I got it back!! The day of the crash it was put on a roll back and moved to the collision shop. So any other problems like the rear view mirror was fubared (would not stay in position) and also my Sony radio was not working.
1. So, the collision shop has now done an experimental repair on the rear view mirror that seems to work (but will their repair last ?) so I got a 2005 spare rear view mirror anyway, from another salvaged 2005.
2. The Sony radio and data buss in the 05 were fried, as it worked fine before. Their insurance covered that R&R cost by a Audio shop and a replacement with similar Sony unit and new data buss. Works great.
3. As for diminished value that is ongoing as the Insurance company used the wrong mileage ((162500 and automatic ) (when my actual miles are less than 87K)) to calculate their DVR value. All though out this process they knew the actual mileage as reported from the collision shop. Why so high mileage on that report, you know the answer, drops the check amount.
4. I asked my company, Hagerty, to run the same (DVR) report with correct mileage and M6 not auto to see what their report shows. I don't have it so, this will be plugging along for now.
Finally, the Body shop did a great job on paint match fit and finish but they are NOT a restoration shop and very short handed. The first new facia from GM Parts was crap and not usable and was returned. The next new GM facia was better not plug and play so and with no more in the system close by it had to be tweaked and used. We had to wait for parts and supply chain issues. My 05 was literally out of any service to me right at 8 months.
After that I put on my WheelCraft polished rims, new tires and now on to recover my seats to red. At least I can now reliably use it and just hope this doesn't happen again to me or anybody else for that matter.
Thanks for reading.
I got my VETTE back in late December 2022. I found a couple of more things that were broken and not known until I got it back!! The day of the crash it was put on a roll back and moved to the collision shop. So any other problems like the rear view mirror was fubared (would not stay in position) and also my Sony radio was not working.
1. So, the collision shop has now done an experimental repair on the rear view mirror that seems to work (but will their repair last ?) so I got a 2005 spare rear view mirror anyway, from another salvaged 2005.
2. The Sony radio and data buss in the 05 were fried, as it worked fine before. Their insurance covered that R&R cost by a Audio shop and a replacement with similar Sony unit and new data buss. Works great.
3. As for diminished value that is ongoing as the Insurance company used the wrong mileage ((162500 and automatic ) (when my actual miles are less than 87K)) to calculate their DVR value. All though out this process they knew the actual mileage as reported from the collision shop. Why so high mileage on that report, you know the answer, drops the check amount.
4. I asked my company, Hagerty, to run the same (DVR) report with correct mileage and M6 not auto to see what their report shows. I don't have it so, this will be plugging along for now.
Finally, the Body shop did a great job on paint match fit and finish but they are NOT a restoration shop and very short handed. The first new facia from GM Parts was crap and not usable and was returned. The next new GM facia was better not plug and play so and with no more in the system close by it had to be tweaked and used. We had to wait for parts and supply chain issues. My 05 was literally out of any service to me right at 8 months.
After that I put on my WheelCraft polished rims, new tires and now on to recover my seats to red. At least I can now reliably use it and just hope this doesn't happen again to me or anybody else for that matter.
Thanks for reading.
Last edited by 81VETTOM; 02-11-2023 at 09:30 AM. Reason: spelling
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sleepingcougar (02-11-2023)
02-11-2023, 09:44 AM
#22
Drifting
Glad to hear your Vette is mostly repaired the way it should be. FYI, CarFax will definitely state there was significant left front end damage on their future reports, making it hard to explain-away to a private buyer.
02-11-2023, 12:27 PM
#23
Pro
Thread Starter
02-13-2023, 10:22 AM
#24
Drifting
That's goo, since the selling value will definitely decrease for any future knowledgeable buyers. Damn Carfax and their accurate documentation! 