so my friend's bentley was backed into a couple of day ago. i'm not sure how bad the damage is, but he estimates at least $40k to repair, plus two months in the shop.

insurance will cover it, but my friend's concern is that after it is fixed, it will be worth significantly less than what it was worth before the accident. i'm thinking the solution might be to just have the insurer buy the car at pre-accident value, and then my friend can go out and buy another bentley.

has anyone faced this situation before? doesn't have to be with a bentley- i think the same issue applies to anyone with a really high end car.

thanks in advance. PM is fine if you'd rather not discuss it on the board.

 

You did not state year/model.

Insurance buybacks are based upon percentage of damage vis a vis the car value just before the accident. And asking for that does not guaranty results from them.

If the repair is done well I would think that there is little overall value depreciation. Many cars are sold w/o buyers ever knowing they were damaged.

I remember an SL500 in 2001 being badly damaged here. The car was 6 months old. It had about $50K of damage and the insurance company opted to repair it rather than buy it.

That damage was about 55% of the car's value at that time!

 

yeah, i think he's worried about a buyer who pulls a carfax, sees the accident and either walks or revises his offer.

 

That I understand.

Maybe he should discuss this with the insurance company.

Measure of damages is the value before and then after the incident.

Insurance co will generally look at actual numbers to their benefit where your friend wants speculative or probable future damages.

It's a tough situation for sure and it's not an enviable one either.

Have him put up a fight.

BTW, the hittor's insurance is paying right or is this an uninsured situation?

 

It's called diminished value and there are ways to fight for it with the insurer. Some attorney's specialize in this field.

 

it's a 2007 GTC if it matters.

the other driver is insured, but depreciation in value appears to be a murky area. there was a post in another thread that the indiana supreme court found that insurance companies are not responsible for depreciation- their only obligation is to fix the car. of course, california law is all that matters.

 

If there is no case on point here in CA the Indiana case may be used as reference in litigation but it's not binding on our courts. AND, we don't know the full context of that case to comment!

What you are experiencing may not be a "diminished value" issue. Who says its value has been diminished?

If the vehicle is fixed according to the parameters as outlined by Bentley, there may not be actual "diminished value".

Have him pressure the insurance company, but remind him that he does not have to settle today. Have him not look too anxious.

Keep us posted.

 

i looked this over and it seams like no offense that a bentley that got backed into could not have at least 40K in damages. unless the other car was going 30+ mph and was a peterbuilt. just my opinion on the situation, but regardless, if he is really worried about value he is better off just getting a new one, and plus, look on the bright side, who cant beat that brand new bentley smell?

 

a) a woman 28-35 years old
b) a Ferrari

Any questions?

Good point on the accident value.

 

oh greg you and your silly ferraris. lol
have you even smelled the "fresh bentleey smell"? its addicting, i was in rehab for 20 days

 

Actually I was in one yesterday.

It is an 07 Spur that is very, very, very nice, and it does smell good.

Not sure I want to invest in that at the moment, though.

 

[quote=Gcalo;1922652]a) a woman 28-35 years old

Any questions?

quote]

 

Makes sense no?

Victor is too young to understand.

 

Realllly!!!!!

 

now now, lets get back on topic.