MASERATI DIMINISHED VALUE

Overview
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The term “Maserati Diminished Value” means that Maseratis which were damaged and subsequently repaired lose market value as a result of having a repair history, sometimes known as a “Bad CARFAX.” In most states, this lost amount is recoverable from the insurance companies of at-fault parties. The amount of diminished value is determined by the damages that were repaired and the vehicle itself.

There is a new phenomenon in the automotive world and it is called Diminished Value. For those who haven’t heard this term, it means the loss in value a vehicle experiences after undergoing collision repairs. Maserati models that attract more discriminating buyers suffer a great deal more diminished value than an ordinary car. Used car buyers simply won’t pay as much for a previously wrecked car so dealers, in turn, have to offer less come trade-in time. New and late model car owners expect a first-class level of service. Those expectations extend to the treatment they receive from insurance companies after their cars are wrecked by the negligence of others. Seeking fair compensation for diminished value and loss of use is part of it. You need an expert appraiser. At The St. Lucie Appraisal Company, Diminished Value and Loss of Use claims are our specialty.

Our methodology for preparing automobile diminished value appraisals is unique within the industry because we don’t rely on formulas, algorithms, auto auction results or other short cuts to determine the amount of value lost after collision repairs. Each situation is unique and the only way to provide tailor-made reports is to query the people who actually do the buying and selling of these bad Carfax vehicles – new car dealers – to confirm our opinions. It is important, of course, that the dealers who participate in our surveys know full well that the subject vehicles are not for sale or available for trade. This prevents insurance companies from alleging collusion or vested interest. This approach has made our company the best at what we do – Diminished Value and Loss of Use appraisals. Magistrates and mediators alike have recognized the validity of our reports because they are comprehensive and they aren’t complicated.

Insurance Company defense attorneys can instantly recognize which independent appraisals will stand up in court and advise their adjusters accordingly when it comes to offering fair settlements. We are rarely called upon to appear as expert witnesses in legal proceedings because our customers generally receive fair settlements which means fewer civil actions. Maserati diminished value and loss of use claims should present no problems if appraisals are prepared correctly.

So where does this leave the Maserati owner when it comes to receiving fair compensation for Diminished Value and Loss of Use? The independent appraisers that use formulas and algorithms arrive at numbers that don’t remotely represent the Maserati used car market. As for the independent appraisers that use automobile auction results, they are completely out of luck since so few high-end Maseratis are put up for auction.

The St. Lucie Appraisal Company, despite being a small fish in the big pond of independent automobile diminished value appraisers, has gained more than our share of diminished value and loss of use requests from Maserati owners due chiefly to word of mouth. It has been not only Maserati owners but also the certified repair shop managers who have sent their customers, friends and families to us.

With regard to Loss of Use claims, it costs $500.00 per day to rent a Maserati. Why do insurance companies feel that they can get away with offering lower-priced replacement vehicles to Maserati owners? It is common knowledge that a wrecked high-end Maserati can take up to 60 days to repair. A typical Loss of Use report for a Maserati owner whose car is laid up for two months is in excess of $30,000.00. It is not necessary to actually rent a car in order to receive compensation for Loss of Use.

Current Maserati models include the Ghibli, GranTurismo and Quattroporte. All of these Maseratis will lose value after collision repairs. Diminished Value can result in as much as 50% of the vehicle’s value lost, especially if frame damage or air bag deployment was involved. While “the older the car, the less it will suffer diminished value” is true, that statement can be misleading. While a 2008 Maserati with a bad Carfax will lose less in value, percentage-wise, than a newer model, older cars can still be worth thousands of dollars less after accident repairs.

Before making your secure payment please email the completed body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com

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