Hail Damage - new vehicle depreciation
#1
Hail Damage - new vehicle depreciation
I just bought a new 2009 Chrysler (pretty fully loaded) SUV , and before I accepted delivery (i.e. finished the deal about closing time and they were keeping it overnight to finish prep'ing it...), a big hail storm came through ... with hail about 3 inches in diameter ... Got a call from the dealer next day... a lot of dents, many big. I looked at it... They say they can fix it good as new... will put on a NEW hood, weld in a NEW roof, NEW front quarter panel, probably spot weld large dents (not PDR) and pull out large dents on both driver's side doors all the way back through the rear driver's side section. Passenger side unaffected. Glass/moonroof was unaffected although other cars on the lot had hail go smash through glass. At least 2/3 of "my new" car will be sanded and repainted ... only passenger side and maybe lift gate might be okay. And all on the dealer's tab.... as I had not taken final delivery of it yet.... Many many many cars on their lot got severe damage with the same storm so their insurance guy was there to evaluate the whole fleet. So my big question is... what will this major repair do to the overall value of "my new" car even if they fix it "good as new"? I would estimate the repair bill would have been several thousand dollars had I actually had possession of the vehicle. I would bet this major repair will show up on reports and effect future trade-in value, right? What should I ask for in compensation for loss of future value? Or just cancel the deal? But I really liked the model and features. There isn't another one "just like it" any place within any reasonable (100's miles) distance of here that the dealer can get, and with manufacturing stopped ...new orders aren't being built. I could only get a somewhat "equivalent one" in a color I don't particulary care for.
Many thanks in advance...
Many thanks in advance...
#2
Welcome to the site Spirit!
Find out what the threshold on when you have to disclose the damage. In our area, if the vehicle has $7000.oo or more damage, it MUST be disclosed. Have you signed papers for the car? Is it yours? If it isn't, I would look for another one at another dealership, and if not, tell them you want a new car instead, as that is what you are paying for, not a repaired "new" car.
If you do own the car, and the damage amount is above the disclosure amount, you kinda are on the hook for the devalue of the vehicle for the damage. It's really a sad situation. I see it day in and day out. It's against the law for any repair to lose or gain on the repair, but, somehow, loss of value due to disclosure doesn't count, kinda a grey area. I know of several lawyers that have fought and lost this battle. It is simply a sad situation.
If you own the car and they are going to fix it, tell them you are going to be SEVERLY picky. This may do one of two things. They will put there best people on it to make it absolutely perfect (better than OEM), or they will buy the car and give you another because they truely don't want the headache of dealing with you. Simple as that.
Hope this helps.
Find out what the threshold on when you have to disclose the damage. In our area, if the vehicle has $7000.oo or more damage, it MUST be disclosed. Have you signed papers for the car? Is it yours? If it isn't, I would look for another one at another dealership, and if not, tell them you want a new car instead, as that is what you are paying for, not a repaired "new" car.
If you do own the car, and the damage amount is above the disclosure amount, you kinda are on the hook for the devalue of the vehicle for the damage. It's really a sad situation. I see it day in and day out. It's against the law for any repair to lose or gain on the repair, but, somehow, loss of value due to disclosure doesn't count, kinda a grey area. I know of several lawyers that have fought and lost this battle. It is simply a sad situation.
If you own the car and they are going to fix it, tell them you are going to be SEVERLY picky. This may do one of two things. They will put there best people on it to make it absolutely perfect (better than OEM), or they will buy the car and give you another because they truely don't want the headache of dealing with you. Simple as that.
Hope this helps.
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