Monday, September 16, 2013

PORSCHE AUTOMOBILE DIMINISHED VALUE APPRAISAL - 2013 PORSCHE 911 - BEST METHODOLOGY FOR ACCURATE REPORTING

AUTOMOBILE DIMINISHED VALUE APPRAISAL - 2013 PORSCHE 911
FORT PIERCE, Florida - Porsche owners are a discriminating lot. The typical buyer of a used Porsche is looking for a car that is in pristine condition. Cars that have undergone repairs for collision damages do not fall into this category. These bad Carfax Porsches suffer diminished value far in excess of most other cars; a fact that most insurance companies fail to recognize. In order to properly appraise the exact loss of value, The St. Lucie Appraisal Company's method of obtaining dealer quotes to formulate that amount is the best methodology for obtaining accuracy. There are numerous appraisers who have jumped onto the automobile diminished value bandwagon. Unfortunately, the majority of these firms use either formulas or auction results to obtain their figures. Neither approach is satisfactory as they fail to address how significantly high-end cars lose value once they've been damaged in collisions. A competent diminished value appraiser should obtain real world quotes from Porsche dealers when trying to establish the amount of the loss. The dealer must be made aware of the year, make, model, mileage, color and options of the subject vehicle as well as the exact nature of the damages that were repaired. Armed with this information, the dealer can accurately quote exactly how much less he would pay for the repaired car vs. a previously unmolested one.

A recent appraisal of a 2013 Porsche 911 AWD H6 Coupe with 5,000 miles that was wrecked in a collision. The vehicle suffered right side damages in the amount of $8,500.00 - not a particularly high amount. The subject vehicle was silver and was fully optioned. Trade-in value for this car was $100,000.00 but in light of the bad Carfax, Porsche dealers queried said they would only pay from sixty-thousand dollars to seventy-five thousand dollars for the car. Most dealers cited low buyer interest. Taking an average of the six dealer quotes, the amount of diminished value was $30,666.00. The insurer hired an independent appraiser who used a formula showing the diminished value to be only $5,000.00. The case was scheduled for trial when the insurance company conceded that the formulaic approach would not stand up to scrutiny. They paid the full diminished value amount plus the claimant's appraisal and attorney fees.

Diminished value appraisal figures should represent what the vehicle will encounter in the real world of used cars. It is the used car managers at dealerships who provide the most realistic assessment of values because automobile dealers are the ones purchasing and re-selling the vehicles. An automobile diminished value appraisal that is compiled in this manner, listing each dealer, their estimation of how much less they would pay because of the bad CARFAX and any pertinent comments such as how different variables may have affected their decisions, carries the most weight. Although it is more time consuming than using a formulaic approach or an auction printout, it is the most valid method by which accuracy can be obtained.

When hiring an automobile diminished value appraiser to evaluate your loss, steer clear of companies who use formulas or auction results. Insist that your report be done strictly on the basis of dealer quotes. Why give insurance companies anything else but irrefutable evidence that will stand up in any court of law? Have a Porsche that was wrecked in a collision? After repairs, call The St. Lucie Appraisal Company for the best and most effective automobile diminished value appraisal you can get.


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



AUTOMOBILE DIMINISHED VALUE APPRAISERS IN ALL 50 STATES


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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. 


 
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Updated 01-28-2014
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