Questions for the board about all this damage

[BLEBYU]

• Will the two cars that where stolen and recovered with no damage have a ding on car fax? Both cars where entered in to NCIC and then removed when recovered. The vins will show up in the police report.
• If they do show up as stolen recoveries what will the diminished value be on both car, one a new 45k srt-8 charger and the other a used 04 viper.

 

[eucharistos]

the insurance industry is still working out diminished value policy - it is not standard across the country, even within a state (1 or 2 exceptions) nor even among companies. read in another post 15%,

but depending on the car, i think as little as a few hundred dollars to up to 25% if i'm on the buy side.

you could set precedence with what happens to your vehicles

hope it all work out for you

 

[Bill Pemberton Woodhouse]

Mike,

It is highly unlikely your commercial policy , as a Dealer , has any provisions for diminished value. It will show up on the Autocheck, Carfax, etc. , so the best bet for the Dealership is to probably advertise them as " Great Deal," theft recovery cars..........highlight no damage.

Bummer for you guys and really sorry, but I know the other vehicles we have had stolen off our lot, we had to take the lumps and go forward. Very sad about the Vipers, and though it is no consolation, getting all the cars back will make it easier to get a settlement. When one disappears from the lot and does not come back , you can imagine the delays.

Best wishes to you with this extremely unfortunate situation.

Respectfully,
Bill Pemberton
Woodhouse

 

[BLEBYU]

Thanks Guys, I will let you know how it all shakes out...

 

[2MANYTOYS]

Sorry to hear Mike. Hope this all works out well for you.

 

[johniew398]

• Will the two cars that where stolen and recovered with no damage have a ding on car fax? Both cars where entered in to NCIC and then removed when recovered. The vins will show up in the police report.
• If they do show up as stolen recoveries what will the diminished value be on both car, one a new 45k srt-8 charger and the other a used 04 viper.

This may not be typical but I did a search and found more than comment similar to this posting:

"APR 29:
2009CARFAX — But don't be fooled. If you do happen to buy a stolen vehicle, CARFAX will not honor their
"BuyBack" guarantee. It's misleading. They only guarantee certain categories of information, yet with all of these guarantees, no one would suspect that they could be purchasing a stolen car! I am particularly angry because my car was stolen and when I put the VIN numbers in, it comes up as a highly recommended one-owner car with their Buy-Back guarantee! They are helping the thieves to sell my car! When I emailed to them about this, they didn't have much compassion or interest in the matter. I think that if they are going to recommend cars, they should be guaranteeing that they are not stolen! And they shouldn't be assisting thieves with selling stolen vehicles by recommending stolen cars!"

Also, don't take Carfax as the gospel if you will. Another employee hit my 2006 Z06 at work resulting in $6100 in damage. I have subsequently sold the car but checked Carfax and it never showed up. I told the buyer about the damage esp since it was my wife's nephew but I was surprised it wasn't showing on Carfax - then again I don't know how long you have to wait for something like that too appear.