Sunday, December 30, 2012

ST LUCIE APPRAISAL ANSWERS SOME FAQ ABOUT AUTOMOBILE DIMINISHED VALUE




ANSWERS TO SOME FAQ ABOUT AUTO DIMINISHED VALUE

TALLAHASSEE, Florida - The state of Florida is one of those that recognizes a vehicle owner's right to make an auto diminished value claim against the insurance company of an at-fault driver who causes damage to your motor vehicle. The term "diminished value" means your car is worth less after being repaired because of the bad Carfax vehicle history report. Naturally, Florida's consumers prefer buying used cars that weren't previously wrecked. Automobile dealerships are usually the ones to break the bad news to new car buyers bringing trade-ins. Because of previous repairs, sometimes regardless of how minor the damage was, dealers are forced to offer thousands of dollars less for these cars. This also applies to cars that were repaired perfectly - a bad Carfax is a bad Carfax and that's enough to dissuade most potential buyers. The majority of dealers don't even bother attempting to retail these vehicles and usually send them straight to auction. Obtaining an automobile diminished value appraisal from a licensed appraiser is the first step toward recovering your car's lost value.

I hope that helps to answer some frequently asked questions about automobile diminished value in Florida. Here is some more information you should know before proceeding with your claim.

______________________


Q: How is The St. Lucie Appraisal Company different from other appraisers who prepare automobile diminished value reports?

A: Virtually every appraisal company working in the field of auto diminished value either obtains its data using automobile auction results or relies on formulas based on severity of damage, mileage, etc. Insurance adjusters routinely downgrade these types of reports for different reasons.

The use of auction results, while illustrating a basic comparison between prices realized for previously damaged vs. virgin cars does not specifically address your vehicle, it's damage, options, mileage, color, etc. Don't scoff at the notion that a car's color wouldn't factor into the equation. Any BMW dealer will tell you that he would pay far more for a white 640i than most other colors because of it's desirability. Therefore, that car's diminished value will be less.

Formulas such as State Farm's Rule 17c use what is called "damage modifiers" that assign points according to severity of damage and mileage. Auto diminished value appraisers using this formula must, naturally, use higher modifiers than insurance companies would. This simply creates a controversy over whose formula is right.

The St. Lucie Appraisal Company obtains its data directly from the used car managers at automobile dealerships - the people directly responsible for buying the trade-ins. In our query, the year, make, model, mileage, color options, amount and nature of damages is discussed. Based on that information, a dealer can determine exactly how much less he would pay for the car. We compile six dealer quotes and by averaging their deductions, our automobile diminished value figures are created.

It takes about five minutes to run off a list of auction results and even less time to come up with a formula for diminished value. While our method is far more time consuming, the resultant diminished value reports are virtually irrefutable.  Should an insurance adjuster opt to spend a half-day soliciting new car dealers they would come up with the same results. Our clients receive much fairer treatment from insurors.

______________________


Q: How do I order an Automobile Diminished Value Report from The St. Lucie Appraisal Company?

A: You will find a payment button on the right side column of this blog. There is also a payment button in our website.  After making your payment, send a copy of the insurance company's estimate to contact@stlucieappraisal.net or FAX it to 772-466-8400.

______________________


Q: How much does it cost to use The St. Lucie Appraisal Company to prepare an Automobile Diminished Value Report?

A: We charge $225.00 regardless of whether your diminished value comes to one thousand or twenty thousand dollars. You will find that most of our competitors charge a lot more. There are, of course, appraisers who offer instant reports for a low fee. While these are good for general knowledge, they are worthless for the purposes of impressing an insurance adjuster.

______________________


Q: Does your appraiser need to see the repaired vehicle?

A: No. All parties assume that the vehicle was repaired correctly. Unless you have issue with the repairs, no inspection of the repaired vehicle is needed.

______________________


Q: Is it necessary to use an appraiser who is licensed in Florida?

A: No. While anyone from any state can prepare diminished value reports in Florida, only an appraiser holding an insurance adjuster's license from the Florida Department of Financial Services is authorized to effect settlement of such a claim under Florida Statute 626.855. 

______________________


Q: What if the accident happened a long time ago, can I still collect for diminished value?

A: In Florida, the statute of limitations for filing an automobile diminished value claim is four years.

______________________

Q: Do I need an attorney to file an automobile diminished value claim on my behalf?

A: No. You may elect to hire a lawyer from the outset but it makes fiscal sense to file your automobile diminished value claim yourself. Our reports usually result in satisfactory claim settlements, however, after submitting your report to the insurance company, if you feel that their offer is inadequate or you are being treated unfairly, that would be the time to spring for a lawyer to work on your behalf.

______________________


Q: If I have an accident that is my fault, can I make an automobile diminished value claim against my own insurance company?

A: Not in Florida, but all is not lost. Your car has still lost value as a result of the bad Carfax now attached to it but a portion of that loss is tax-deductible. Check with your tax-preparer or accountant for details. The cost of our report, FYI, is tax-deductible as well.

______________________


Q: Will The St. Lucie Appraisal Company act as my designated representative?

A: As a client of our firm, you can be assured that we will be glad discuss our appraisal process at length with the insurance adjuster upon request.

______________________
Q: Is the diminished value figure based on my car's retail or trade-in value?

A: In order to be fair to all parties and also to make our reports more acceptable to insurance company adjusters. we use trade-in values as a starting point. Should you decide to pursue your claim on the basis of retail value, the percentage of the diminished value remains unchanged so you may simply apply it to the higher retail value.

Q: In what states are St. Lucie Appraisal's services available?

A: Our automobile diminished value appraisals are sought after by car owners all over the country. We provide automobile diminished value reports in all 50 states.


The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
Email: contact@stlucieappraisal.net 

_______________________________


http://stlucieappraisal.net/
AUTOMOBILE DIMINISHED VALUE APPRAISERS


Automobile Diminished Value Appraisals nationwide and throughout Florida including, Miami, Fort Lauderdale, Tampa, Jacksonville, Daytona Beach, St. Augustine, Lakeland, Panama City, Orlando, Pensacola, Fort Myers, Key West, Sarasota, Port Charlotte, Clearwater, Kissimmee, Melbourne, Daytona Beach, Ocala, Gainsville, Lake City, Sebring, Bradenton, Titusville, Panama City, Bonita Springs, Naples, St. Petersburg and Tallahassee,  Fort Pierce, Port St. Lucie, Stuart, Palm City, Jensen Beach, Hobe Sound, Jupiter, Palm Beach Gardens, West Palm Beach, Lake Worth, Boynton Beach, Delray Beach, Boca Raton, Deerfield Beach, Coral Springs, Coconut Creek, Pompano Beach, Tamarac, Sunrise, Lauderhill, Plantation, Fort Lauderdale, Davie, Pembroke Pines, Miramar, Hollywood, Hallandale, Miami, Opa Locka, Hialeah, Coral Gables, Kendall, Homestead and the counties of
Brandon, Cape Coral, Clearwater, Gainesville, Lakeland, Sarasota, Fort Myers, Naples, Pensacola, Alachua, Baker, Bay, Bradford, Calhoun, Charlotte, Citrus, Clay, Collier, Columbia, DeSoto, Dixie, Duval, Escambia, Flagler, Franklin, Gadsden, Gilchrist, Glades, Gulf, Hamilton, Hardee, Hendry, Hernando, Highlands, Hillsborough, Holmes, Jackson, Jefferson, Lafayette, Lake, Lee, Leon, Levy, Liberty, Madison, Manatee, Marion, Miami-Dade, Monroe, Nassau, Okaloosa, Okeechobee, Orange, Osceola, Pasco, Pinellas, Polk, Putnam, Santa Rosa, Sarasota, Seminole, St. Johns, Sumter, Suwannee, Taylor, Union, Volusia, Wakulla, Walton, Washington.

paypal payment button The fee for an Automobile Diminished Value Report is $275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300. Credit card payments can be made on the PayPal page. Click on "Don't have a PayPal account?" to be taken to the secure credit card payment page. 

After making your secure payment please email the body shop estimate or the insurance company appraisal to contact@stlucieappraisal.net or FAX to 772-466-8400.

NOTE: TESLA OR OTHER EXOTIC CAR OWNERS PLEASE CALL 772-359-4300 TO ARRANGE FOR AN AUTOMOBILE DIMINISHED VALUE APPRAISAL. 

Sunday, December 2, 2012

APPRAISING DONKS, BAGGED RIDES AND OTHER WHIPS IN FLORIDA

Appraising Donks in Florida

ORLANDO, Florida - As a wise sage at a recent custom car show said, "Florida got some clean whips." A "Whip" is slang for a car but here in The Sunshine State they've taken it way over the top. These boys and girls are representing Florida well with some fresh, clean customs. A "Donk," for anyone who isn't familiar with the term, is a 1971-1976 Chevrolet Caprice or Impala. They called it that because the owners at the time said the logo looked like a Donkey or Donk for short.  They get lifted, outfitted with huge wheels and stereo/I.C.E stystems and painted in colors and themes that can be described as everything from sick to sweet. A "Vert" is short for convertible. A "Bagged Ride" is basically a low-rider, often constructed using a Chevy S-10 body (known as a "bagged dime") but also with square Rangers, 88-98 Silverados and most Eurojap cars. Using air & nitrogen tanks, regulators and custom suspensions to raise and lower the vehicles, they are great at producing frightening, ground-scraping driving experiences. Insurance for these cars is available but coming up with legitimate fair market values for them is another matter. Often, between the lift kits, sound systems, interior customizations and motor work, a Donk or other high rise car or truck can easily have $150K invested in it. Clean whips, indeed. Many owners feel that their automobiles are worth every penny that was sunk into them but comparable sales show that lots of cars looking and sounding good don't bring half that amount.

Vics (Ford Crown Victoria), Lacs ( Cadillac), Merks (Mercury Grand Marquis) and Cuttys (Olds Cutlass) are some of the other cars commonly used to make hiphop cars. Sound systems are so loud they make your hair stand up. Lambo suicide door kits, 6" lifts, custom framework (sections, notches, tubular), full multimedia setups, turbos and other performance upgrades, HID conversions (Xenon), custom paint (airbrushed murals, graphics and candy colors, unique integrated custom interiors, street glow neons and, of course, custom wheels up to 30" costing "five stacks" ($5K) and up that are custom painted to match. Crazy high, loud and bassy, tricked out whips.

Doing it big is how it goes in Florida.

The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
Email: contact@stlucieappraisal.net

_______________________________

http://stlucieappraisal.net/
AUTO & PERSONAL PROPERTY
SERVICE THROUGHOUT SOUTH FLORIDA

Our service area includes St. Lucie, Martin, Indian River, Brevard, Palm Beach, Broward and Dade Counties. Cities include Fort Pierce, Port St. Lucie, Stuart, Palm City, Jensen Beach, Hobe Sound, Jupiter, Palm Beach Gardens, West Palm Beach, Lake Worth, Boynton Beach, Delray Beach, Boca Raton, Deerfield Beach, Coral Springs, Coconut Creek, Pompano Beach, Tamarac, Sunrise, Lauderhill, Plantation, Fort Lauderdale, Davie, Pembroke Pines, Miramar, Hollywood, Hallandale, Miami, Opa Locka, Hialeah, Coral Gables, Kendall and Homestead.

Diminished Value Appraisals throughout Florida including, Miami, Fort Lauderdale, Tampa, Jacksonville, Daytona Beach, St. Augustine, Lakeland, Panama City, Orlando, Pensacola, Fort Myers, Key West, Sarasota, Port Charlotte, Clearwater, Kissimmee, Melbourne, Daytona Beach, Ocala, Gainsville, Lake City, Sebring, Bradenton, Titusville, Panama City, Bonita Springs, Naples, St. Petersburg and Tallahassee.

Our rates for services are as follows:

Auto Appraisals (Donations, Bankruptcy, Divorce, Insurance Disputes) $175.00

Stated Value Appraisals (Antique & Classic Cars, Street Rods, Motorcycles, RVs, Trucks) $175.00 and up

Auto/Truck/RV Condition Reports $275.00 and Up

Diminished Value Appraisals (Determines how much less your car is worth after accident repairs) $275.00

Personal Property Appraisals (Contents, Collectibles, Art, Antiques) $275.00 and Up

All other services and additional time when necessary  $75/Hr.

Expert Witness - Court Appearances, Depositions, Mediation $225/Hr.

You may obtain appraisals for Financing, Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.

Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Antiques, Collectibles & Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment. Business Valuations specializing in all types of small businesses.

FIND US FAST IN THE REAL AT&T YELLOW PAGES


Keywords for this article: appraisal, appraiser, automobile, bagged ride, car, custom, donk, fair market value, insurance, vert, whip, value, auto, Florida 
Updated 01-21-2014