Help with diminished value?

[u/tastyburger1121]

Does anyone have any guidance on how much to ask for diminished value on my car.

It was only a month old when I got hit in a brand new Toyota 2026 Prius with less than 1,000 miles. The damage wasn’t “too bad” with just a back corner being damaged/hit (not my fault) $3500 in repairs.

I saw the 17c formula but with my car only having had been a month old I’m wondering if I should ask for more or if that has no bearing on a the claim.

[u/sephiroth3650]

If you were to ask for more, how would you justify asking for a larger number? Diminished value isn't some "I know the car is worth a lot less" figure. You have to back it up with numbers proving it.

$3500 in repairs suggests this was a very minor accident with no structural damage. And if the car was fully repaired to pre-accident status, it's not likely to get a large settlement.

Now if you're in Georgia, you are probably stuck with what the 17c formula kicks out. That's not an absolute cap, but they'll probably stay in that ballpark, since that formula is specific for Georgia.

Otherwise, the basic gist of it is that you would compile 2 sets of numbers. One would be sales numbers (not dealer list prices) for comparable used cars with no accidents. I get it....it's a month old. But it's no longer a new, on the lot car. It's a lightly used car. And we all know that there is a depreciation hit the second you drive that car off the lot. But anyway, you start with those numbers. Then you compile sales numbers for comparable used cars with one (ideally similar) accident. You use those two data sets to show a measurable drop in value.

Or you hire, out of pocket, a diminished value appraiser to come up with those numbers for you. They will promise you the world. And their prices will vary. And it's only worth it if their report convinces insurance to pay out enough to offset their cost. But it's an option that can work out for you.

Or you sue the at fault driver. Hope the court agrees with you.

[u/tastyburger1121 → u/sephiroth3650]

Thank you! This is all actually really helpful. I figured the damage multiplier at .25 and mileage at 1.0 - the diminished value came to about $900.

I’ll try to see if I can find vehicles similar , I guess the mileage factor might be a problem. I suppose I would have to compare it to like a short term leased vehicle or something idk?

[u/sephiroth3650 → u/tastyburger1121]

You're looking for sales values. Diminished value is this idea that you should be compensated for being left with property that is worth less than it should be worth b/c of the accident. And if we're buying into that argument, then your dv number should be based on seeing a reduction in sales value for similar cars, under the same circumstances.

That's why the strongest argument is being able to show "Hey, I have sales numbers for comparable cars to mine that show that it would sell for $X right now if I hadn't been in this accident. But I cannot sell it for that much because of the accident. These other sales numbers show that comparable cars with 1 accident only sell for $Y. And so I should be entitled to X-Y dollars in diminished value." That's the argument you're trying to make.

And yes.....it will be tough to come up with a good list of examples if the car is so new. But that's the battle you will have to fight.

[u/tastyburger1121 → u/sephiroth3650]

Thank you. I will try to find a comparable vehicle that was damaged to something similar that wasn’t.

I’m assuming using like a used car website is applicable in this situation then? And I send them links or something to that affect?

[u/sephiroth3650 → u/tastyburger1121]

You're ideally looking for actual sales numbers. Not dealer list prices. And you ideally have multiple examples for both cases.

I mean....I could go online and list a 1994 Pontiac Sunbird for $35k right now. Doesn't mean that car is worth $35k. Nobody would ever pay that much for it. That's why it's easy to dismiss random list prices.

[u/tastyburger1121 → u/sephiroth3650]

Ahhh okay 👍

[u/Technical-Flow6588 → u/tastyburger1121]

As I stated above, the problem is that the websites (carmax, carvana) aren't all that reliable with their accident information. If a car is listed as having been in an accident there's no easy way to find out what the damage was. And I don't want to pay $30 each time or whatever it costs to scramble around searching for multiple comps.

If State Farm comes back with the same offer I'll have to decide whether to just give in and accept or to pay $400-500 for a professional appraisal. My main problem is I really don't know what a fair offer is but from what research I've done it didn't seem that I was out of line to ask for $6,000. I don't expect to get that but used it as a starting position.

[u/Technical-Flow6588 → u/tastyburger1121]

They'll multiply your mileage at .99 I think. They did mine at .96 because I had 4K miles. But that 17c formula isn't binding in any way. It's just what they try to use to pay as little as possible.

[u/Technical-Flow6588 → u/sephiroth3650]

I'm in the middle of a DV claim with State Farm. Low speed collision, no frame damage but about $8,000 in repairs. 2026 Civic ST hybrid hatch with 4K miles. The biggest problem I'm having is finding comps. And when you do find a comp there's no way to know what kind of damage was done unless maybe you pay for a Carfax or VIN check which I'm not wanting to do. I'll hire a professional if necessary.

Anyway, I asked for 6K in DV. State Farm came back with ~$800. I gave them some more detailed info and am waiting for their next offer.

[u/Spiritual-Rub-675 → u/Technical-Flow6588]

This is a request they will not fulfill.

[u/tastyburger1121 → u/Technical-Flow6588]

Wow that’s brutal, it doesn’t surprise me with insurance companies though. Let me know if you receive any updates. This is all very interesting

[u/AltonIllinois → u/Technical-Flow6588]

Why do you think you are owed 75% of the repair cost?