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When compared to a vehicle with no prior accidents, over 50% of buyers aren’t even interested. Many new car dealers are paying thousands less for trade-in on these type of vehicles as they’re harder to sell due to their negative Carfax history.
If you’ve been in an automobile accident in Oregon where the other party was at fault, you have suffered Diminished Value. It’s not fair when you’ve done nothing wrong, and someone else damages your vehicle in an accident. Even though their insurance company may fix your car, you’ve still lost money. No one wants a car or truck that’s had prior damage and they won’t pay as much for a damaged vehicle compared to an undamaged vehicle. That’s what Diminished Value is all about.
Recently, the secret is out. National TV and Radio shows are talking about it, you’re hearing commercials on the radio, so why the sudden interest since Oregon has had case law supporting diminished value since the 1940s? It’s because of a new Oregon law, ORS. 20.080, which states that if you provide evidence (Diminished Value Appraisal) and send a demand letter, that the insurance company has 30 days to provide you with a BEST OFFER. If their offer is too low, and you prevail in court by 1 cent, they have to pay all costs including attorney fees. Just the attorney fees alone can be thousands more than the claim itself. Over 98% of our clients settle their claim without the use of an attorney.
Insurance company representatives are trained to pay you the least amount possible! They’re not your friend, although they may assume that role. Since the secret is out, and they are paying more claims, they have developed new techniques to reduce paying you the money you’re owed. These tactics include:
These tactics are designed to prevent you from obtaining a fair and impartial appraisal. If you use their appraiser, you’ll normally receive a biased appraisal that is thousands less than you’re actually owed.
Rule #2: When in doubt, see rule #1.
Diminished Value of Oregon is a Local Portland, Oregon Auto Appraiser specializing in Diminished Value and Total Loss Car Appraisals related to Accidents & Totaled Car Value Insurance Claims.
What is Diminished Value? Diminished Value is the immediate loss of resale value a vehicle suffers in an accident. Even though the vehicle has been completely repaired, it has lost resale value due to the stigmas associated with the loss.
Who is eligible? In the state of Oregon, Diminished Value claims are normally paid by the at fault party’s (3rd party) insurance company, or may fall under your own uninsured motorist policy, if the at fault party doesn’t have insurance or it is a hit and run. 1st party claims where you are at fault, or you hit an animal or a tree for examples are not eligible in Oregon. In Washington, you may be able to claim diminished value even if you were at fault. (please contact us for details). Find out how much diminished value your car has suffered by requesting a
Auto Appraiser
Ken Nix is an internationally known automotive expert with over 25+ years experience in vehicle sales and valuation. Ken is the founder of three automotive clubs with over 60,000 members. He has received formal training from Volkswagen, Volvo, Honda, Ford, Toyota, Dodge, Chrysler, Chevrolet, Mazda, Oldsmobile, Pontiac, Mercury, Lincoln, Kia and Infiniti for product knowledge and marketing of these franchise vehicles. Ken has been a licensed Oregon Auto Appraiser since April 19, 2010 and is in good standing with the Department of Transportation. Ken is a judicial expert, who by virtue of training, education, and experience hold’s sufficient knowledge of vehicle sales and valuation to valuate vehicles within his scope in all 50 states of the United States of America. Ken attended Kilgore College majoring in Pre-Law, and Texas State Technical College for Computer Science Technology. Ken resides in Beaverton, Oregon a suburb of Portland, Oregon.“The insurance companies will lie and tell you your car doesn’t qualify for diminished value or try to pressure you to settle for pennies on the dollar. I felt confident I could settle the Diminished Value claim on my BMW by myself since I have several decades of experience on a daily basis dealing with diminished value on premium cars and trucks. After several attempts of trying to settle my claim on my own, I was referred to Ken at Diminished Value of Oregon. Ken took the time to produce an appraisal that had supporting evidence to prove my diminished value. Because of Ken, I was able recover a settlement on my BMW for more than I thought possible.”
Good news! Your work payed off and Safeco just settled for $3,400. That is much better than $500! Thanks for your help!
I settled for $5430. The Big Block appraisal came in with a DV of $4,000, but they came up to 20% of $27000. Thanks for all your help.
We just settled at $4,600. With no attorney and just your appraisal. Thanks so much for all your help I’ll definitely use your services in the future.
Met-life under protest offered me a Diminished Value award of $2800.00 in full settlement. I refused in writing. They then tried to stall and wait me out, so I filed in small claims court, and they settled 5 mins before going into the courtroom, for the sum of $5500.00 plus costs. They knew that armed with Ken’s report and paperwork, they would have no chance of convincing a judge I was not due considerably more than their lowball offer.
Just want to thank you for all your advice. I called a law firm, got some backing and threatened AMfam with court. They settled at $4000 which is better than $2200, and better than court litigation. If you need any type of testimonial on your website I would be happy to give one. Thanks for all your help in my appraisal.
Good news! M**life agreed to settle for around $11,000 (not the actual amount) after having two other companies research the actual cash value of the car and the resale value and both stating less than $3,500. They contacted several Porsche dealers who advised them of DV percentages in line with your estimate. IYou can use my first name as a reference/example, and range of settlement (e.g., between 10 and 12k), but please don’t use the insurance company’s name or exact amount. Thanks!!!
Sorry it has taken me so long to tell you this, but Safeco settled with me for $5,000! I was incredibly happy about that and I just wanted to give you a big ol’ heartfelt thank you! I never could have done it without your help. I think it was less than a week after I sent them your estimate that I had a check in my hand. I hope your doing better now that the wildfire smoke has diminished.
Quick Oregon Diminished Value Facts:
by | February 27, 2014 | , , | 0 Comments
4223 Pacific Ave, Forest Grove, OR 97116 (503) 357-3114 Each of our technicians are ASE & ICAR certified and are qualified to work on ALL makes...by | February 27, 2014 | , , | 0 Comments
9350 SW Canyon Rd Portland, OR (503) 526-3814 Bob Lanphere’s Canyon Road Auto Body offer you: Free computerized estimates Courtesy...by | January 12, 2014 | , , | 0 Comments
we’ve found Kadels in Beaverton to be very transparent and helpful to our clients. They provide photos of all the work as it is in progress and Nick in Beaverton has been especially helpful to clients. He’s taken the time to explain procedures and even advocate for clients.
by | January 12, 2014 | , , , | 0 Comments
Kuni Collision Center 3725 SW Cedar Hills Blvd, Beaverton, OR 97005 (503) 372-7563 Kuni Collision Center is a manufacturer certified collision...by | January 12, 2014 | , , , | 0 Comments
Beaverton Auto Body and Paint 4330 SW 142nd Ave, Beaverton, OR 97075 (503) 469-8389 This Beaverton, Oregon Auto Body shop receives excellent reviews...by | November 30, 2012 | , , | 0 Comments
Finding a good body shop is hard in this day and age. Most of them are in bed with the insurance companies. Thankfully consumers have business...by | October 1, 2012 | , | 0 Comments
How do you claim Diminished Value? What do I need to file a claim? How do I get the Insurance company to pay Diminished Value? How much will I get? Negotiating the Claim. So now you have your appraisal in hand, it’s time to send it over to the insurance company. You’ll want to include a demand letter also (yes we include a sample demand letter for you). The demand letter makes it official and gives them 30 days to give you a reasonable offer. I’ve found that most companies will normally settle a Diminished Value Claim around 50 to 85 percent of the appraisal as long as the appraisal is not over inflated or under valued.
by | August 23, 2012 | , , , | 0 Comments
The number one question I’m asked is “do I need an attorney?”. I’m not a lawyer and I can’t give you legal advice, so ultimately, that’s your decision. I can tell you, from what I’m told by clients, most of them believe they settle quicker and for close to the same amount as if they used an attorney. The biggest difference is they get to keep 100% of the claim instead of giving up 30-50%. Attorneys know that most Diminished Value claims settle quickly, that’s why they’re so interested in signing you for a 40% commission. 40% of $3000 is $1200., and most of the time for sending a simple demand letter. Yes, we give you a sample demand letter with your appraisal.
by | July 24, 2012 | , | 0 Comments
Here’s what a Client had to say about his 2002 BMW 325i with 123,000 miles. “I am amazed at the service that I received from Ken Nix at Diminished Value of Oregon. He was extremely thorough, at times I even thought this guy works really hard for the small fee that he charged me upfront. It was worth every penny because in the end after negotiating with the insurance company , I got his fee back that I paid upfront and the settled amount of the claim was over 1500% , that’s 15 times more than my original cost to hire Ken !!!! Thats a whole lot better than Ive been doing in the stock market lately !!!! My 1st offer from the insurance company was $100.00. If it wasn’t for Ken and his knowledge I would have never got $1770.00 !!!! Thanks again Ken !!!! Sincerely Doug W. 2002 BMW 325i Troutdale, Oregon”
by | June 24, 2012 | , , | 0 Comments
Well here’s another chapter in our fight to advocate for the little guy. A local Beaverton, Oregon Businessman contacted me requesting a...by | June 23, 2012 | , | 0 Comments
When I’m hired to appraise a vehicle, I feel it is my duty to perform a complete inspection. If I see something that doesn’t look right...by | June 5, 2012 | , | 0 Comments
Hi, I’m Ken Nix and I’ll be preparing your Diminished Value Appraisal. I’ll come to your location (if within the Portland, Oregon...by | April 25, 2010 | | 0 Comments
When looking for an Diminished Value Appraiser in the Portland, Oregon Metro Area, you want an unbiased appraiser. Not someone who works for...by | April 25, 2010 | | 0 Comments
Many insure companies have attempted to utilize a formula called “17c Formula” to calculate diminished value. While appearing sound initially, the...by | January 18, 2014 | , | 0 Comments
Do I need an Attorney? In Oregon the insurance company has 30 days after you submit your demand letter and evidence (a diminished value appraisal)...by | January 18, 2014 | , | 0 Comments
Can’t I call Diminished Value Appraisers in Oregon until someone gives me the value I’m looking for? Many people believe they can call multiple...by | January 18, 2014 | , | 0 Comments
How do I collect my Diminished Value? In Oregon, you need sufficient evidence to show that your vehicle has lost resale value. A diminished value...by | January 18, 2014 | , | 0 Comments
Do I qualify for Diminished Value? Here’s a quick test to see if you possibly have a claim… Was your vehicle worth more than $7500 before the loss?
CONSUMER ALERT: Be wary of appraisers who also work for the insurance companies. A large number of appraisers are being paid a substantial amount of money to develop extremely conservative appraisals for the insurance companies which reflect as little as 5% of your actual loss value. Most of these appraisers also provide consumer appraisals. Since they repeatedly work for the insurance companies, they may have a strong motivation to be biased in their appraisals for consumers. We’ve had many clients who were steered toward these type of appraisers by adjusters, insurance reps, insurance agents and even the body shop. Before hiring an appraiser, ask how many appraisals they have provided to an insurance company in the past 12 months. If it is over 10, you should be concerned.
BEWARE INSTANT APPRAISALS: To provide an accurate appraisal, it takes time to contact auto body shops, speak to techs, obtain information from insurance companies, obtain comparable sales data, etc. It takes time to obtain proper documentation and evidence to ensure you have a solid appraisal to claim your diminished value in Oregon.
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