OMG - Dealer Wrecked My '04

[RyanITV]

What are you guessing they will give you as a trade on your 2004? Don't let them tell you they need to wait until the repairs are completed before they can determine value. You should find out now and see where you stand versus letting more time pass.

I would guess they will give you $65k for your 2004 assuming they sell you the 2005 at cost. This is only a $15k differential for a brand new 2005 with no miles versus a used 04, which would be very reasonable in my opinion. Heck, I would trade my 04 for an 05 for only $15k given the opportunity for the color change alone. I can't stand Berlina Black, especially in Vegas.

I'm thinking somewhere between $65-70k; we're kind of obsessive about keeping our vehicles immaculate and they admitted that yesterday. When we traded our RSX in, even with 3500 miles, it was cleaner than any new vehicle they had on the lot. Same thing with the NSX - we even do things like use Zaino under the hood and in the engine compartment.

Granted, the NSX is now filthy - I absolutley cringed when I looked underneath of it. If nothing else, I don't want to have to clean all the mud/grass off the undercarriage and suspension - it'd give me nightmares for years.

Ryan

 

[White92]

Contrary to the above posted opinion- Diminished value is a factor that can be addressed in an insurance claim, and given this situation can be applied to restore the victims equity position.
This is an implied duty for the at-fault parties insurance- they need to put you back where you were before their insured damaged your property. In this case, you go by the book value of your vehicle prior to collision, then the book value for the repaired vehicle, the difference is your diminished value- the insurance company writes you a check.

So how does this work? The only way in my mind to figure diminished value is after he sells the car. How do you know if it's lost value unless you sell it? What if he got it fixed and then sold it for full book value? Do you still owe him diminished value? You stated that you factor in the book value of the repaired vehicle. What is that? Is there a book out there somewhere that shows the value of cars with physical damage to them?

 

[H-carWizKid]

So how does this work? The only way in my mind to figure diminished value is after he sells the car. How do you know if it's lost value unless you sell it? What if he got it fixed and then sold it for full book value? Do you still owe him diminished value? You stated that you factor in the book value of the repaired vehicle. What is that? Is there a book out there somewhere that shows the value of cars with physical damage to them?

All you need is proof. The proof is published as the "book" value. Some companies simply ask you to call a few dealers and get quotes for what they would give you after repairs to determine how much you are diminished.

We use all kinds of different tools to place value on vehicles- they take the more factors than just condition into account- Market value in your region, replacement value, average resale. We (insurance companies) also employ professional adjusters who sole purpose is to determine these values, pre, and post damage. It is our responsibility as coverage providers to "make you whole again" after our insured causes a loss.

Now if YOU are my insured, then I am restricted to the guidelines of the policy you purchased- and every policy is different outside of the state mini's. This is your Agent's domain, I just pay out what we owe.

Philip

 

[RyanITV]

Update time - just got word from the dealer. No frame damage; the estimate came in at $11,271.93. They're getting my payoff now and trying to track down a yellow one.

Ryan

 

[drew]

Ryan

Looks like I got some back-up from H-carWizKid

My call to my insurance company to put the claim in is a "point of no return" - I stated that as soon as that call was made, the ball would be rolling and legal action was unavoidable, because that's what insurance companies did in cases like this.

You can't use your insurance company, not even a little. You lose a lot of your rights, because then you go by their rules. Insurance companies generally DO NOT recognize "dimished value"....and that is the very point that keeps getting stressed.

You will have to fund the entire effort yourself and pay an attorney. Which means you will need sufficient resources and time to see it through. It will be a long and bitter road. It will be worth it too, just the education alone is worth many thousands. There is a big DMZ around losses that are greater than $5K and less than $50K, where there just isn't enough to be gained

Personally, in a case like this: I wouldn't care...that dealership needs to go down hard. I'd go buy another NSX, write off a big retainer to an attorney and keep track of court dates. But you need a lot of resources to pull even a small case like this off. I've done it: it's worth it emotionally and you learn a lot.

You will probably break even on the financial end, where your recovery on diminished value = attorney fees. So you essentially all you are out is some hassle and some lost time with depo's and court (fun the first few times...after a while: who cares) .

However, I also recommend that you rent a "like vehicle" while this is in litigation. This will put the hurt on the dealership to solve this thing quickly...I suspect that an 05 NSX will rent for several hundred dollars a day, you WANT these fees to add up quickly and force the dealer to act. The downside is that if you do not prevail: you are on the hook for the entire cost of the rental.

Bottom line: You cannot use your insurance to recover either dimished value, rentals or incidentals. Your insurance will not resolve these factors in your favor... the only thing your insurance does is repair your car and will sue the dealership for that expense ONLY (nothing else).

Drew
/been through this before. The mere threat of me renting a "like vehicle" had them send me a check for $3K as my "total rental expense"...I had a second car...so it was just free money---accepted.
//I'm also lucky enough to have the resources to really put the hurt on people.

 

[CerberusM5]

CerberusM5,
Can I get a ride in the 06 M5 next time I am in Vegas? :biggrin: Please post pics when you get the car.

Steven,

Absolutely. I am hoping for its arrival just after the new year depending on my dealers allocation of M5s.

I requested they sell me the car at MSRP, which is unknown at this time, but they declined. They said they cannot sell the car at MSRP, but will take care of me, since I purchased my current M5 (above MSRP) from them and couple of other cars. This really pissed me off. The greed factor of dealers on new models really makes me mad.

Also, I got a call from my sales rep telling me that the 2007 M5 will have a standard 6 speed gearbox available to the US market only, which I find much more appealing than SMG. At this time I am waiting to read a full test report on the M5, since it will be unlikely I will be able to test drive one prior to purchasing.

 

[CerberusM5]

I'm thinking somewhere between $65-70k; we're kind of obsessive about keeping our vehicles immaculate and they admitted that yesterday. When we traded our RSX in, even with 3500 miles, it was cleaner than any new vehicle they had on the lot. Same thing with the NSX - we even do things like use Zaino under the hood and in the engine compartment.

Sounds like your cars are in perfect condition. I can understand why you want a brand new car versus a repaired one. I would feel the same way.

Push for $70k. Good luck!

 

[Tony Montoya]

Have you considered a straight trade for the yellow 04, I assume it has no miles on it? Read drew's and whiz-kid's posts carefully and take their advice.
I hope the dealer puts you in a new 05 or 04 for very minimal charge.

 

[nohc]

I saw a link to this thread on ClubSi's SvA & a couple other boards as well & thought I'd chime in with my two cents.

Ryan, I applaud you for handling this in a professional & adultlike manner. If it were me in your position...*shudders*. I can only imagine how totally pissed I would be if it were any of my rides, and they're absolute POS's...It scares me to think I could be even more furious, but seeing as how it was damn near one hundred thousand dollars of car...jeez *head explodes*.

Anyway, now's a good time to think about really dicking the dealership over...Get them to cut a check to you for buying your car back from you, sit down with them & start going over buying the Yellow one from them....get all the way through, down to finally signing the contract and then getting up and telling them that you'd much rather have an 06' ZO6, leave and never come back....save for the donuts at three AM in your new ZO6 a few months from now in front of the showroom.

Seriously, I hope you give serious thought to never going to that dealership again, as well as encouraging others in your area to do the same through word of mouth, as well as your local media as stated before in the thread.

 

[gobble]

Why would you downgrade from what he had to a Z06?

 

[nohc]

Why would you downgrade from what he had to a Z06?

If he wants the Yellow one, Far be it from me to tell him what to get...I'm just saying I'd take my business elsewhere & never go back to that dealer again if it was me.

 

[Tep]

Ryan, You should have just told the dealer this...

 

[RyanITV]

If he wants the Yellow one, Far be it from me to tell him what to get...I'm just saying I'd take my business elsewhere & never go back to that dealer again if it was me.

The thing is, if they handle this right, I can't see why I would go elsewhere.

I accept the fact that accidents happen - the tech didn't leave the lot with the intention of ditching my NSX. I was the first person he called, and he was pretty upset. He just kept apologizing (as he should), but I'm not going to hold what happened against him, regardless of what the outcome is.

If they put us in an '05, swap the gear, ensure we're not paying anything out of pocket and our payments are the same, I'm happy. There's no way to "undo" what was done, but I think the desired course of action I outlined is fair, given the circumstances.

We looked at the info on the new Z06 - looks like a great car; I just like the exclusivity of NSX ownership (no others in my area, but there's half a dozen Z06s).

Ryan

 

[NSX-Tuner]

The thing is, if they handle this right, I can't see why I would go elsewhere.

I commend you for your patience and level headed thinking. If it were me, I'm not sure how I'd handle it. I agree with the course you're pursuing with the dealer. Although, my first reaction to your plight was anything but patience.

I wish you the best possible outcome.

 

[White92]

Wow, this is odd. This thread has been posted on several other forums and we are getting several new members on Prime out of it. They are joining just to post on this topic.

 

[ImportSport76]

Sorry to hear about this Ryan. I remember when you got this car and parted out the s2k

Meeeeyotch is doing his job and spreading the word.

 

[Pretegra]

I respect u on this comment!

QUOTE=RyanITV]The thing is, if they handle this right, I can't see why I would go elsewhere.

I accept the fact that accidents happen - the tech didn't leave the lot with the intention of ditching my NSX. I was the first person he called, and he was pretty upset. He just kept apologizing (as he should), but I'm not going to hold what happened against him, regardless of what the outcome is.

If they put us in an '05, swap the gear, ensure we're not paying anything out of pocket and our payments are the same, I'm happy. There's no way to "undo" what was done, but I think the desired course of action I outlined is fair, given the circumstances.

We looked at the info on the new Z06 - looks like a great car; I just like the exclusivity of NSX ownership (no others in my area, but there's half a dozen Z06s).

Ryan[/QUOTE]

 

[nohc]

Ryan, You should have just told the dealer this...

I wonder if it's supercharged.

As I stated before, Ryan, you've certainly got a lot more patience than I do. I sincerely hope everything works out for you.

 

[RyanITV]

I wonder if it's supercharged.
As I stated before, Ryan, you've certainly got a lot more patience than I do. I sincerely hope everything works out for you.

That vinyl was for a show (and a bartering tool to get discounts on Comptech goodies) - the funny part was the people asking what size turbo I had on the car. Duh...

Ryan

 

[nohc]

That vinyl was for a show (and a bartering tool to get discounts on Comptech goodies) - the funny part was the people asking what size turbo I had on the car. Duh...

Ryan

Musta had at least a hundred grand under the hood, eh? :biggrin:

 

[gobble]

The thing is, if they handle this right, I can't see why I would go elsewhere.

I accept the fact that accidents happen - the tech didn't leave the lot with the intention of ditching my NSX. I was the first person he called, and he was pretty upset. He just kept apologizing (as he should), but I'm not going to hold what happened against him, regardless of what the outcome is.

If they put us in an '05, swap the gear, ensure we're not paying anything out of pocket and our payments are the same, I'm happy. There's no way to "undo" what was done, but I think the desired course of action I outlined is fair, given the circumstances.



Ryan

I wouldn't even consider going back to this dealer. They should have told you, within an hour of the crash, don't worry about it, don't lose any sleep, don't waste any of your time, we're going to take care of you and make you whole.

Instead, they weaseled around, tried and find out way out of it, took you seriously only when you pushed them and maybe decided to take care of you when they learned their cost won't be that great.

This does not sound like someone I would want to do future business with. I don't deal with people I don't trust.

 

[RyanITV]

Musta had at least a hundred grand under the hood, eh? :biggrin:

Two bottles of NAWZzzzz, too. (j/k)

Actually, the S2000 was a really well built project car. Alot of rare high end parts (like the hardtop - Mugen #44, probably about 50 in existence) , handled incredibly well and was pretty quick for a 2.0L I4. Lots of fun to drive, but once I got the NSX... we had a hard time getting into it. It never won a big show - just wasn't "ricey" enough to compete.

Ryan

 

[RyanITV]

I wouldn't even consider going back to this dealer. They should have told you, within an hour of the crash, don't worry about it, don't lose any sleep, don't waste any of your time, we're going to take care of you and make you whole.

Instead, they weaseled around, tried and find out way out of it, took you seriously only when you pushed them and maybe decided to take care of you when they learned their cost won't be that great.

This does not sound like someone I would want to do future business with. I don't deal with people I don't trust.

The thing is, I was getting different responses from different people. While one manager was saying they'd take care of it and make me whole, another was telling me that it'd be on my insurance company. That's why I drove up, got everyone together and sat down for a meeting. It clarified my position, and in the end, it looks like they're going to try to make good on their initial promise of taking care of me.

Ryan

 

[FF2Skip]

Ryan and Amanda, I hate that I am in this forum for this reason. I just went through a theft while my S was in the care of a dealership. Nauseating experience. Just wanted to say don't settle... a year from now you'd kick yourself. Good luck!

 

[ChopsJazz]

...in the end, it looks like they're going to try to make good on their initial promise of taking care of me. Ryan

I really hope that this is the case. Otherwise, take gobble's advice and go elsewhere.

Best of luck to you.