|DIMINISHED VALUE AFTER A WRECK IN A TESLA S|
Another contributor commented that a 10% DV might apply to the Tesla S. I can tell you
that diminished value of some cars such as BMW, Mercedes-Benz, Lexus and Porsche can reach as high as 50% of their fair market value. I
had a Jeep dealer tell me that 50% was even low on a repaired 2014 Jeep Grand Cherokee 4DR SUV SRT8 Vapor because a crossmember was replaced and
that he'd forsake the auctions and probably have to sell the car overseas. Tesla buyers are every bit as discriminating as Porsche buyers and the like.
There are three methods that appraisers use to establish diminished value.
NOTE: Since writing this article, I have had occasion to perform a diminished value appraisal on a 2013 Tesla S and can report the following: The sales people at almost all Tesla dealerships are as knowledgeable about the automobile market as I am in nuclear physics. If you can imagine what a blank stare translates to over the telephone - that is what it is like trying to discuss diminished value with a Tesla salesman.
With diligence and determination, I eventually found the right people and was able to complete my DV report. Long story short, the 2013 Tesla S that had $4,600.00 in collision damage to the front, no air bag deployment or frame/unibody had a diminished value of just over $7,000.00.
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
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