Tesla Battery Value Issues on Total Loss Disputes

May 15, 2023By Justin Petty No Comments
Tesla Battery Value Issues on Total Loss Disputes

I recently wrote an article where I talked about this super important issue that I’ve had countless discussions about with Tesla owners. Trust me, it’s a topic that’s been making waves because of the parts availability on Teslas that is causing repair times to drag on and there’s a buzz going on with more and more auto manufacturers diving into the Electric Vehicle market.

One thing that really caught my attention is the value of the battery on a Tesla. I’ve seen this issue pop up time and time again, and it’s something I definitely think we should dig into.

If you’re interested or dealing with this, I hope you’ll check out the entire article where I go into detail about my thoughts and opinions on this matter. I genuinely believe it’s a hot topic that deserves some serious discussion. So, click the link below to give it a read, and let’s kickstart a real conversation about how we should be handling these claims.

Thanks for taking the time to dive into this with me!

CLICK HERE TO READ MORE ABOUT TESLA BATTERY VS. ENGINE VALUE

Diminished Value decreases and Total Loss Values Soar!

September 21, 2021By Justin Petty No Comments

Diminished Value decreases a bit while Total Loss Values Soar!

Diminished Value Claim severity is dropping, while total loss settlement values are increasing!  The effects of high demand on the automobile market.
  
As chip shortages and high demand for used vehicles continue, I’ve seen a couple of trends.
 
1.  Minor to moderate accident histories on a vehicle are less damaging to the re-sale value than has been the case prior to approximately April 2021. 
 
2.  Most of the auto claim industry’s preferred vendors for market valuation reports haven’t caught up to the increased prices on used vehicle.
 
These two trends have dramatically affected the distribution of the percentage of cases we handle that are either total loss cases or diminished value cases.  Specifically, a lot more people are seeking out our assistance for appraisal clause help because they believe they are getting a “low-ball” offer on their recently totaled vehicle.  Spoiler. . . . they are normally right in their belief.
 
Although we are now doing more appraisal clause work than diminished value work, diminished value has not disappeared, nor has the increase in demand for used vehicles eliminated the potential for an economically viable pursuit for diminished value recovery. 
 
What we’re seeing is that instead of the typical reduction (for a prior collision and repair history) of between 18% – 25% (depending on make/model/market), dealers and individuals are willing to bear a bit more risk and the deduction for a prior collision and repair history is not as severe in this current market of high demand. 

Markets change. 

Diminished value won’t be going away, but the severity of it is less right now due to Covid.  On the other hand, total loss payouts are on the rise. 

If you have questions or need more information regarding this subject, feel free to reach out to us and we’ll do our best to make sure you get the information or help you need. Both of our forms are below for a free consultation whether you have a DV claim or a Total Loss you want to talk about!

Tesla Model S Appraisal Clause Dispute

June 12, 2019By Jennifer Petty
Tesla Model S Appraisal Clause Dispute

Tesla Model S Appraisal Clause Dispute

Are you dealing with a low offer on a total loss claim through your own insurance company?

So was Michael! His brand new 2018 Tesla Model S had less than 6K miles on it and a purchase price of $90K – he was offered $67,000….😡

He invoked the Appraisal Clause and hired Petty Details to be his appraiser on his dispute. After quite a battle, our experts got his total loss claim settled at $80,000.

Many accident victims and attorneys deal with these total losses and don’t know where to turn to find out how to fight for the value of their vehicle.

Want our expert opinion on your total loss?

If you’re dealing with a total loss claim with your own insurance company & want us to review it to find out our opinion, visit our website today & request a FREE claim consultation!

Trouble viewing the form or missing a submit button? Here is a direct link to it: https://pettydetails.wufoo.com/forms/request-a-free-appraisal-clause-consultation/