Diminished value recommendations-NJ

jersey john · 01-06-2020, 01:21 PM

Has anyone here worked with any of these service providers? I had a collision back in March of 2019 and wanted to know what value loss, if any, I have to my vehicle.

Thanks.

argento · 01-06-2020, 04:16 PM

Quote:

Originally Posted by jersey john

Has anyone here worked with any of these service providers? I had a collision back in March of 2019 and wanted to know what value loss, if any, I have to my vehicle.

Thanks.

I just went through this last spring. It was exhausting. PM me and I'll pass on what I know.

Jeremy

JAYRICHFROMMIAMI · 01-07-2020, 07:32 AM

Most appraisers use formulas and algorithms that insurance companies deny are valid proof. One independent appraisal company from Florida obtains six quotes from BMW dealers in NJ. Can't mention their name because I'll get banned by the mods but a Google search should find them for you.

quick · 01-07-2020, 07:47 PM

The best of doing it would be to go the dealership and have them write you a letter with how much your car would be priced prior to and after the accident.

My Porsche was hit by another driver and I was able to secure a $2800 depreciation value from the other company.

Dawgz · 01-08-2020, 08:06 PM

Quote:

Originally Posted by quick

The best of doing it would be to go the dealership and have them write you a letter with how much your car would be priced prior to and after the accident.

My Porsche was hit by another driver and I was able to secure a $2800 depreciation value from the other company.

It's going to be difficult getting something like that in writing, in NJ.

e92BMW///M3 · 01-12-2020, 06:46 PM

My wife’s 2011 X6 (with 75k miles) got hit in a parking lot causing ~2,200 in damage and they paid ~1,250 diminished value in NJ. I felt I probably could have gotten more and looked into a few appraisal type firms but wasn’t willing to spend the $ without any guarantee that I would increase my payout by that amount, especially considering the overall value of the vehicle.

01-06-2020, 01:21 PM	#1
jersey john Private First Class 22 Rep 120 Posts Drives: X5 Join Date: Dec 2016 Location: Bergen County, NJ iTrader: (0)	Diminished value recommendations-NJ Has anyone here worked with any of these service providers? I had a collision back in March of 2019 and wanted to know what value loss, if any, I have to my vehicle. Thanks. __________________ If winning isn't everything, then why keep score? I feel like every day is the Kobayashi Maru and my name's not James T. Kirk
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01-07-2020, 07:32 AM	#3
JAYRICHFROMMIAMI New Member 15 Rep 26 Posts Drives: BMW Join Date: Jul 2014 Location: JAX iTrader: (0)	Most appraisers use formulas and algorithms that insurance companies deny are valid proof. One independent appraisal company from Florida obtains six quotes from BMW dealers in NJ. Can't mention their name because I'll get banned by the mods but a Google search should find them for you.
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01-07-2020, 07:47 PM	#4
quick Captain 216 Rep 780 Posts Drives: '12 X5M, '01 E55, '91 964 Trbo Join Date: Oct 2010 Location: Planet Earth iTrader: (1)	The best of doing it would be to go the dealership and have them write you a letter with how much your car would be priced prior to and after the accident. My Porsche was hit by another driver and I was able to secure a $2800 depreciation value from the other company.
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01-12-2020, 06:46 PM	#6
e92BMW///M3 Second Lieutenant 123 Rep 286 Posts Drives: e92 M3 Join Date: Nov 2015 Location: NJ iTrader: (3)	My wife’s 2011 X6 (with 75k miles) got hit in a parking lot causing ~2,200 in damage and they paid ~1,250 diminished value in NJ. I felt I probably could have gotten more and looked into a few appraisal type firms but wasn’t willing to spend the $ without any guarantee that I would increase my payout by that amount, especially considering the overall value of the vehicle.
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