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Senior Advisor
kraft-t
Posts: 10,712
Registered: ‎05-10-2010
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Your pickum up truck

You have serious fender bender and there is $4500 damage on your 2011 f350. No other party involved as you hit black ice on a bridge and went crashing into a bridge abutment. Your insurer agrees to pay your $4500 damages less the $1000 deductable. Your truck is repaired and looks fine.

 

At some later date you advertise your truck for sale for $24000 in a online publication. Potential buyers inquire but are you obligated to report the signifacant damage in the above mentioned accident? Even if he asks you if it has been in a wreck?

 

SO you declare the previous damages and suddenly your potential buyer doesn't want it or will buy it aT a $5k discount. And all potential buyers respond that way and devalue your truck because of the previous event.

 

The point in all this is that a prospective buyer would rather buy a vehicle without that history in its past. So how much financial damage was really done to you in that cussed accident. The physical damage was not all that was done as your truck was seriously devalued as well.

 

Do you think that a court would recognise your claim against the insurance company for devaluation of your vehicle. It seems they should be willing to buy your previously damage vehicle for book value so that you didn't have to suffer the devaluation.

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