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GEN 1 (2010-2014) Ford SVT Raptor Forums
Ford SVT Raptor General Discussions [GEN 1]
My 2013 Scab is a paper weight
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<blockquote data-quote="MeenieMe" data-source="post: 850318" data-attributes="member: 13079"><p>I've done far too much research on this lately (but thankfully, my truck was deemed a total loss in the end). In most states, the diminished value claim goes against the at-fault party - whose insurance company would then field it on their behalf. The statute of limitations varies by state. I believe NY is 3 years from time of accident. It falls under the joyous area of tort law. If the carfax is incorrect, this wouldn't really solve it. But once the carfax was corrected, you could recover the diminished value either in small claims court (if under your state threshold), or you step up to the big leagues. You would want estimates from multiple dealers to substantiate the loss in value. Stay away from any formulas for calculating it...ultimately, it is the difference in fair market value and not an algorithm that an actuary came up with.</p></blockquote><p></p>
[QUOTE="MeenieMe, post: 850318, member: 13079"] I've done far too much research on this lately (but thankfully, my truck was deemed a total loss in the end). In most states, the diminished value claim goes against the at-fault party - whose insurance company would then field it on their behalf. The statute of limitations varies by state. I believe NY is 3 years from time of accident. It falls under the joyous area of tort law. If the carfax is incorrect, this wouldn't really solve it. But once the carfax was corrected, you could recover the diminished value either in small claims court (if under your state threshold), or you step up to the big leagues. You would want estimates from multiple dealers to substantiate the loss in value. Stay away from any formulas for calculating it...ultimately, it is the difference in fair market value and not an algorithm that an actuary came up with. [/QUOTE]
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GEN 1 (2010-2014) Ford SVT Raptor Forums
Ford SVT Raptor General Discussions [GEN 1]
My 2013 Scab is a paper weight
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