My 2007 Toyota Camry was hit by a lady at a parking lot (my car was parked and I was at the store) and the driver's door must be replaced ($2,000 repair).

What would be the diminished value I should claim? Is there any formula I should be aware?

 

It may be that state law where you live allows for such a calculation. If so, it's a new one to me.

In the states I've lived in, there is no allowance for the depreciation of value that might be caused by an accident. You're entitled to compensation for actual losses, not hypothetical ones.

I doubt, though, that replacing door would depreciate a car's value much, if any. Get whacked from the rear and that's another matter. Good luck.

 

I found an interesting article about Diminished Value:


Diminished value payments when your car has been in a wreck


Looks like some in some states Diminished Value cannot be claimed.

 

Interesting article. It's always good to learn something new. Thanks.

A quick read, though, indicates that allowing "diminished value" calculations to be the exception rather than the rule. While not expressely prohibited in most states, it looked like it had been applied in only a few cases by courts, presumably where damages and loss of value were clear and severe.

If you receive such an allowance, please post here. That would be valuable information for this msg board.

 

yes, please it will be very educating/helpful to know details about the so called "diminished value" which I personally believe the owner of the vehicle (not at fault) should be awarded...