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Originally Posted by puma1552
You should be going after the insurance company (his or yours) for diminished value, not the other driver; that's where the disconnect is. What good is insurance if you have to resort to personal lawsuits? Sounds like a problem with your insurance company not stepping up to go to bat for you and getting diminished value from his insurance company, which I agree they should pay. I have had experience with two accidents and two insurance companies, neither of which were the fault of the people on my end. In one case, our insurance company went to bat to get diminished value from the other company, and in the other case, the other insurance company provided a few thousand bucks after just asking for it. That's MN though, if NV isn't that way, that's too bad and that's a problem with NV law. Perhaps your lawsuit would be better aimed at the state. How are you going to feel when you make a mistake and someone in a Bugatti hits you and sues you for over $100,000 in diminished value? Do you really think that's right? Are you going to just volunteer a $100k check? I doubt it.
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Maybe you don't know or understand diminished value. My insurance company, USAA, does not pursue diminished value claims. If your did that is great, I wish I had a company that did right now. Of the $10k in the insured's policy, if I got a cut USAA and the city (damage to a light pole) wants a cut too. If the diminished value is $5 then everything is good, if it is more that is part of making the situation right. Just to check, I just looked at my policy. I have $50k coverage for property damage. Since I'm not convinced that you know what diminished value is, that means that after an insurance company makes the other party whole - car repaired - there is potential to get $50 for property damage...at least this is my current understanding.
Quote:
Originally Posted by puma1552
Again, what's your time worth? Personally my time is worth more than the financial value of what will amount to an absolute maximum - and likely much less - than the $10k you MAY receive in a lawsuit. Do you really want to drag something out for six months, spend a bunch of money on lawyer's fees, wade through a bunch of paperwork, and probably end up at best getting any money you do receive bit by bit via garnished wages? Sounds like a waste of time to me for someone who can drive a $70k car.
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What is my time worth...interesting concept. I spend a great deal of my time working. But working for me is a means to an end, a way to provide for my family. When someone does something to negatively impact that - to take away from my family - they become public enemy number one. With the information given, how are you so sure the amount I would receive in a lawsuit would be $10k or less? I don't have enough information to know that right now, so enlighten me as that will determine how I proceed. If you are just guessing, you are just talking about something you don't know. You don't know my situation with the legal system - you don't know if I am a lawyer or if my best friend is a lawyer - and you don't know how much money the other guy has. It wouldn't be too far fetched that someone that drives a car like the other driver's could have some money. You know, don't judge a book by its cover.
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Originally Posted by puma1552
The first post of yours I quoted makes it sound as if you only became interested in suing the other owner once you learned that the insurance companies weren't going to cut you a $60k check, and you want to destroy the other guy's credit. That's malicious, and tasteless.
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Diminished value was a concern of mine from about 30 minutes after I went to the accident site and found that my wife was OK. You don't understand - I don't want any money other than the amount I am out. I would like to drive a 2014 528 that doesn't have extensive repairs and I don't mind paying for it while I am leasing it. Not looking to gain anything. Do you think the other guy is responsible for diminished value if his insurance policy doesn't cover the damage? You mentioned my situation with the lease being the worse case and that also shows you don't know what you are talking about. The worse thing that can happen at this point is I drive a car with extensive repairs - repaired by a certified facility - until December 2016, turn it in and move on to the next one. If I purchased the car that would be a much worse scenario because then I would have to suffer the loss when/if I turned the car in.
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Originally Posted by puma1552
You're upset, and I understand that, but you are also bitter about the fact you are stuck with a messed up car for the next 36 months, you've made that clear. That is, unfortunately, part of the problem with leasing. That's not the other owner's fault. The accident is indeed his fault, sure; you not being able to unload the car now that you no longer want it and insurance isn't cutting a large enough check for your tastes is actually not his fault. Sorry it's not what you want to hear.
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I have a predetermined end to the situation. I get the feeling that you don't like leases. If this was a purchase I would really be upset because the future would be impacted past three years. Do you understand GAP insurance that comes with leases and what BMW financial looks for when a leased car is turned in? It sounds like you don't really know.
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Originally Posted by puma1552
Believe me, I feel for you, I do - but I don't agree with your intentions based on what you've written.
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I'm not sure what you think my intentions are other than having the situation that wasn't my fault made right. If that is through his insurance company I am cool with it, if it is through him I am cool with that. My car had more that $30k in damage and all the air bags were deployed in the accident. If we were out to really get something don't you know how easy it would be? My wife could complain about back issues (something hard to disprove) and we could seek money for that. That would be money we could keep. Since she isn't hurt, and insurance fraud isn't something I would like to do, we aren't going that route.
I think you should step back and look at what it is I am trying to do.