Pjo Posted March 25, 2009 Report Share Posted March 25, 2009 My 06 Mustang GT was rear-ended (no frame damage) in Aug 08. Repairs done VERY well by local body shop who had previously done custom work on the car. I"m looking for help on how to estimate the value of the vehicle (pre-damage and post damage): Background- Year 2006 Make Ford Model Mustang GT Base Sticker 26320 Interior Accent 175 Anti Theft 295 Interior Upgrade 450 Front Seat Side Air 370 17" Bright Cast Alum 195 MSRP at Purchase 27805 Custom Work BOSS 302 Interior Redone: 2800 LNR 1/4 Scoops 292 Shaker Hood Scoop 795 Wheels/Tires/Lowering susp 955 Rousch Exhaust 681 Custom Paint exterior work 999 Functioning CAI 695 Upgrades 7217.64 Minimum original investment (excluding some labor): 35022 Here's what I need to figure out: There's normal depreciation associated with new car purchases. This was primarily offset by upgrades to the look of the vehcile, giving it a unique "stamp" of the BOSS 302. I Purchased Vehicle October 2007 $27,000 (3500 Miles) Repair Body/Paint work Dec. 08 $8200 (11,000 Miles) All parts replaced factory new Any idea's how to get a "diminished" value on the vehicle? Any dealers willing to tell me what they would estimate as a trade in value Pre/post repairs and same thing for a sales price pre/post repairs? This would give me an leg to stand on with insurance to document the anticipated loss to the future value of the vehicle. While this was not destined for a collectors car market, I always felt the upgrades and good care/low miles would help it sustain a reasonable value vs becoming another used car in a used car market. With an accident on the record, I need some way to document for Insuarnce claim. THanks Pam Link to comment Share on other sites More sharing options...
Grabber Posted March 25, 2009 Report Share Posted March 25, 2009 Pam, I hate to say it, but it's the truth. IMO...your car will be just another used car for sale. Mod's sometimes even hurt the value unless you can find the right buyer. Since the "Boss 302" is not a factory Boss and they are not making them....it's will not help the value unless you find the right buyer. Since you now have a niche car...it's even harder to sell. Are you going to buy another Mustang? Link to comment Share on other sites More sharing options...
Pjo Posted March 25, 2009 Author Report Share Posted March 25, 2009 Grabber: Nope...not selling so far. Just want the insurance to cover the dimished value as a result of the accident. Still LOVE it. SGT: Hit by an uninsured drunk driver that was convicted on DWI and Reckless endangerment. I just don't have time or energy to sue. Send me a pm if you're friend wants a referral. Link to comment Share on other sites More sharing options...
Five Oh B Posted March 29, 2009 Report Share Posted March 29, 2009 Pam, I work for a large volume Ford Lincoln Mercury dealer, so I'll give you the dealer perspective.... As your car was repaired very, very well and the title was not branded (i.e. total loss), then there is no diminished value (or a very insignificant amount if there's any at all). Had your insurance company opted to total the car, the branded title would be cause for diminished value. We take trade-in's daily. We don't buy anything with a branded title. We pull a vehicle history report on anything we're looking to buy. If there is an accident reported on the history report, then our appraiser digs deeper and inspects the repair area to see if they were done well. If so, then no hit in value. If the repairs were shoddy, then our appraiser will adjust the bid down. However, nobody should accept shoddy work for an insurance claim repair job. I honestly don't think you'll get any extra money from your insurance company for diminished value, especiallyl given the high quality of repairs you received. Sorry! Link to comment Share on other sites More sharing options...
Pjo Posted April 10, 2009 Author Report Share Posted April 10, 2009 Thanks for the update. I think we met at Grabber's last year..you had the stealthy GT. pj Link to comment Share on other sites More sharing options...
Five Oh B Posted April 10, 2009 Report Share Posted April 10, 2009 Thanks for the update. I think we met at Grabber's last year..you had the stealthy GT. pj Hi, PJ. Yes, we did meet at Grabber's place last year. My stealthy alloy gray GT and your cool, decked out GT amogst all the Shelbys. Sorry you've had such an ordeal after getting rear-ended last summer. I cringe anytime our friends in the Mustang world have thier ponies banged up. Link to comment Share on other sites More sharing options...
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