I was rear ended on the freeway by a truck/trailer before thanksgiving. I am OK, no injuries. The S had 4K in damage. The guy that hit me was driving a company truck, so insurance was no problem-in fact they fixed it with all new OEM parts. They also agreed to pay me a "diminished value" fee. They said an appraiser would come out tomorrow when its finished to inspect it and give me what the diminished value is. Has anyone ever got something like this? How much do you think it should be?

What would the value of a 2000 S2000 with 58,000 miles on it that has been repaired from a rear end collision (no frame or mechanical damage)? Is there a way to estimate what I could sell the car for now that is has been wrecked and compare it to KBB? I just want to be certain I am getting a fair price from the insurance company.

Thanks,
Ben

 

Depending how good the repair was I would think that diminished value would be in the $3k-$4k range. Just a guess from what I've seen working in the car business.

 

That sounds about right.

 

wow i'd be really happy if I could get 3K-4K for diminished value!!!!
I would think even 2K would be great considering most people get about ZERO in diminished value comp.

Also $4K isn't TOO much damage....I've seen $10K worth in damage to a S2000 that was all cosmetic (no mechanical or frame damage).

 

I'm not an appraiser, so take my opinion with a grain of salt. I wouldn't count on $3-4k though. A MY00 even in perfect condition with 58k wouldn't go for 16-17k. If it's been in an accident, but still has a clean title, I'd say $14-15k in mint condition, so I'd guess about $2000.

 

According to KBB the car is worth $18,105 in a private sale. KBB allows you to estimate it with over 3K in repairs and the value dropped to $15,690, a difference of $2415. So if I can get at least 2K I will be happy. I am not looking for a gold mine, just what is fair since the car is worth less now.

 

good luck, i wouldnt expect more than 2000 or 2500 though. Hope it works out for you.

-Ian