Hit and run diminished value?

Harvey Singh said:

Hey everyone,

I recently was hit and ran in my Ford raptor. Someone clipped the corner, it looks like the grille is dislodged from the bumper area, the bumper is pushed in, the fender is pushed into the door, the corner of the hood is pushed in and cracked and the headlight is cracked.

My biggest fear came to light. An expensive vehicle, and a crazy claim. I have no idea what this is going to cost, but it’ll probably be gnarly.

I was planning on trading in the truck soon and saving money on taxes towards the new vehicle to balance out negative equity.

do you think I’ll lose a lot of value?

Click to expand...

Was that you that said you were rolling in negative equity into the raptor? Sounds to me like you need to get it fixed and drive it until it's paid off, or sell it for a loss and pay cash for a shit box. You are in a non-ending cycle, unless you pay cash at some point for a shit box.

I was there myself years ago. Finally bought a shit box, eventually the shit boxes just got nicer and nicer. Just some friendly advice. Sorry the truck got hit. People are ********.

GCATX said:

Was that you that said you were rolling in negative equity into the raptor? Sounds to me like you need to get it fixed and drive it until it's paid off, or sell it for a loss and pay cash for a shit box. You are in a non-ending cycle, unless you pay cash at some point for a shit box.

I was there myself years ago. Finally bought a shit box, eventually the shit boxes just got nicer and nicer. Just some friendly advice. Sorry the truck got hit. People are ********.

Click to expand...

Only, 5k in negative equity. That will probably grow now. I will be selling it at a loss, just trying to figure get a grasp on how much that may be.

Had a similar experience to adventure’s and it cost me (well my insurance) just north of 9k to fix. Having negative equity, you’ll definitely lose out as others have said. Let insurance fix it and drive the thing bro.

adventure said:

I hate to bring bad news, but from what you described I'd expect 10k+. I had some of what you described minus the hood and fender and it added up to North of $7500 in a hurry. The headlight alone is $1600.

Click to expand...

Def invest in a front and rear dash cam. Have it either hard wired to fuse box or OBD II port so you have 24/7 recording. I would recommend either Thinkware (I have the u1000) or Blackvue. Def a must investment since it’s such a large vehicle and if you street park.

Wehhhhhhhhh, looks like someone backed a truck into it. As the bumpers pushed in more than anything else. I am definitely getting a dash cam.

Harvey Singh said:

Hey everyone,

I recently was hit and ran in my Ford raptor. Someone clipped the corner, it looks like the grille is dislodged from the bumper area, the bumper is pushed in, the fender is pushed into the door, the corner of the hood is pushed in and cracked and the headlight is cracked.

My biggest fear came to light. An expensive vehicle, and a crazy claim. I have no idea what this is going to cost, but it’ll probably be gnarly.

I was planning on trading in the truck soon and saving money on taxes towards the new vehicle to balance out negative equity.

do you think I’ll lose a lot of value?

Click to expand...

My wife had her brand new CX5 ran into...only damage was to the rear wheel...not even any body damage.
I used these guys to get a diminished value successfully processed for about 1800.00.

https://www.pdxinjurylawyers.com/auto-accidents-cars-trucks/diminished-value/

Get it repaired and hold on to the truck - use it for what you intended. If you try to offload now or in the near future, you’ll take a bath. Insurance will cover most of this and a good body shop will ensure you won’t even be cognizant something happened.

I'm confused.....this would be a terrible day if you didn't have insurance, but I'm guessing you do. So why are you so distraught? If the frame had been bent or the motor damaged, it could be a resale issue. Your damage is a bunch of replacement parts and paint. If I were buying your truck, and I'm very finicky, the damage, if corrected properly, would be no big deal.

Negative equity is a lesson many learn the hard way and pay for later on. I don't get how you can no longer love the truck, once it's repaired, it's the same truck. Get it fixed and when you can, increase or double your payments each month until you get out of the negative equity issue. In the mean time enjoy the truck.

Don S said:

In the mean time enjoy the truck.

Click to expand...

Don't encourage him! He's already dented the frame where the bump stop hits. LOL

Harvey Singh said:

Wehhhhhhhhh, looks like someone backed a truck into it. As the bumpers pushed in more than anything else. I am definitely getting a dash cam.

View attachment 159545

View attachment 159546

View attachment 159547

Click to expand...

That's not so bad. hopefully you don't have a high deductible. Don't worry too much, concentrate on getting it fixed and then sell immediately if you have to before the paperwork is downloaded, lol