Expert: Richard - 8/27/2009

Question
I was in a car accident a few months ago and my car was repaired by my insurance company, it's a new car I had recently financed. The adjuster looked at it, told me there was $4k in damages. While it was getting fixed he called me and told me their was a little more damage, they would send the check to the repair shop. I get my car back and find out there was over $10k in repairs, the car's only worth $10,500! This is an R-Title in my eyes. Is there anything I could do to get money for diminished value? I could not sell this for what It was worth before the accident. FYI - I live in PA

Answer
Hi Mike, if your insurance company did not total out the vehicle then it is obviously worth more than the cost of the repairs so I do not see how you are owed anything.  Once you take title to a new vehicle and drive it out of the lot it automatically loses value anyway and you could never sell it for the same amount of money that you paid for it.