any of you guys file a diminished value claim?

[turboawd]

its been 2 months now without my x5(2015 with 7k miles), due to getting hit by a drunk. the front end got hit and damage is going to cost around $20k
what are the chances i can get some money from the other party's insurance?
this is in IL and the other party's insurance is state farm.
i talked to the dealer about getting an appraisal done. should i just show that to the insurance company?

[BMWboy]

I live in Texas and have received a settlement for this. Don't know about IL or State Farm, but diminished value is pretty well documented (from reliable sources via Internet) as a bonafide loss that you will sustain at trade or sales time. So best to get something for it now.

[turboawd]

Originally Posted by BMWboy

I live in Texas and have received a settlement for this. Don't know about IL or State Farm, but diminished value is pretty well documented (from reliable sources via Internet) as a bonafide loss that you will sustain at trade or sales time. So best to get something for it now.

ok.
and i wasn't thinking straight. my insurance is state farm and the other party is american family.

i did lease(with plans to probably keep the x5 afterwards too), which wont hurt me if i run the whole lease and return the vehicle, but if i want to keep the x5 or trade it in, i will get bent over i assume, if this accident gets reported to carfax. i was told that carfax now posts the dollar amount of an accident in my state, so a $20k repair will not look good.

[alphaod]

As long as it's fixed properly, I'm not sure why it matters if it's reported to Carfax. Just return it at the end of the lease.

[turboawd]

Originally Posted by alphaod

As long as it's fixed properly, I'm not sure why it matters if it's reported to Carfax. Just return it at the end of the lease.

i was hoping to keep the x5 long term, but now after it being in a severe wreck and being without it for 2 months, i've lost interest and excitement in this x5. i'm thinking of getting rid of it. and if i trade it in, i will get bent over in reduced trade in value due to the wreck.

[New21er]

Yep, dump it when your lease ends. It will never be the same.

[JAYRICHFROMMIAMI]

You might want to consider making a claim for Loss of Use as well.