Dealer dropped my C5 off lift -- need advice

[SPANISHVETTS]

Yup, still driving the loaner. Actually, I'm starting to like it.

:eek

Somebody, quick, is there a Psychologist in the house?

 

[Vette-Pilot]

Barnetdh,

When are the repairs scheduled to be completed?

 

[TheBlueVette]

Barnetdh,

When are the repairs scheduled to be completed?

According to the appraiser, last Friday. He also committed to sending me the final copy of the appraisal that day. No word.

I don't know about anyone else, but I have a hard time when someone promises to deliver, and fails to do it. I'd rather they not promise at all. This has been going on for a month, with promise to call by a certain date, and then not doing it. I know he said he's been fighting a computer virus, and that can be frustrating, but I get frustrated too when someone doesn't do what they say, doesn't return my phone calls and emails, etc.

This has been going on since early June, when he said to get the car in the shop so we can pursue a diminished value claim. (See draft report below)I suppose that paying a little less than $300 to get an extra $6,000 out of Stewarts is a good return. Hard to complain about that.

I was a little disturbed when he said that he liked Frank, the General Manager of Stewarts. He thought that Frank had a lot of integrity, since he had been at Stewarts for 30 years. He said that's a really good sign.

Personally, I was offended when Stewarts wrecked my car -- and then tried to make money off the deal by low balling me on everything. I don't call that integrity, but it takes all kinds.

Appraisal Group of America LLC

Mountain View Professional Center​

1001 Molalla Ave. Suite# 203

Oregon City, OR 97045​

Phone: (503) 722-1768​

Fax: (503) 656-1249

Email: Fterry1@msn.com​

​

June 10, 2004

Assignment: We received a telephone call on 6/9/04 from David Barnett requesting an independent diminished value evaluation for a 1997 Chevrolet Corvette Coupe.

The subject car has sustained significant structural damage and our evaluation is to offer our opinion as the amount of inherent diminution value the vehicle has sustained.

Purpose of Report: The purpose of this report is to determine the inherent diminution value; the subject vehicle has suffered due to the loss and the subsequent repair. At Mr. Barnett request all estimates/supplements and actual repair bills that were submitted have been reviewed. Diminution of value does exist in certain cases, especially in late model high end cars. It is first necessary to establish if there has been significant damage to the subject vehicle in this loss. Then the pre-loss fair market value of the subject vehicle must be determined; the pre-loss fair market value in this case is $ 26,600 .. .… .This figure is based on comparable vehicles for sale. Then I made what I consider to be a reasonable adjustment for the stigma the loss damage and subsequent repair places on the subject vehicle when the damage is disclosed to a prospective buyer. Any diminution of value relating to improper, incomplete, poorly executed or visible repairs, whether cosmetic, mechanical or structural, should be corrected in the estimating and/or repair phase, and should have no dollar impact on value once these items are properly addressed. Only the diminishment relating to stigma has been assigned a dollar value in this report, since the amount of diminishment relating to the quality of the repairs is directly proportionate to the cost of making the repairs correctly.

Diminished Value is Real: When Mr. Barnett trades in his vehicle, new car dealers will require him to sign a “trade in disclosure statement” asking if the vehicle has ever sustained collision damage over $500.00, and some dealers go as far as frame measuring all trade in vehicles. The dealer who is considering taking in the structurally damaged vehicle on trade has a significant amount of legal exposure in dealing with structural damaged vehicles. Most dealerships have company policies regarding structural damaged vehicles. Most dealers would prefer not to deal with them at all. The dealer has three basic options to dispose of a wrecked vehicle. The first option is to wholesale the structural damaged vehicle to a wholesaler. The second option would be to sell the vehicle at a dealer auction. At the auction, the damage will have to be disclosed to the bidders and a yellow caution light will be illuminated. The auctioneer will then have to verbally announce that the vehicle has sustained frame, core support, and/or structural damage. If the selling dealer does not disclose the structural damage, the new owner has the option of rejecting the damaged vehicle. The third option would be to retail the vehicle. This would be the least attractive method of disposing of the vehicle to the dealer due to the significant amount of legal exposure. When the new car dealer has knowledge of frame damage or structural damage it has to be disclosed to the prospective buyer or the dealer could have serious legal exposure. Therefore, the buyer would want to pay significantly less for the structural damaged vehicle vs. a non- frame-damaged vehicle. It is also bad for a new car dealer’s reputation to sell structural damaged vehicles. In fact, most dealers and the general public when buying or accepting a trade in will check the vehicles history by accessing Wreck Check, Car Fax, etc. In this age of information vehicle history reports are easily obtainable and almost commonplace.

Identification of Vehicle: VIN: 1G1YY22GSV5107245 Odometer: 40,243 miles at collision



The exterior of the vehicle is black and the overall cosmetic condition appears to have been in like new condition, prior to the collision. The interior is leather and also appears to be in like-new condition. All the glass including the windshield is in excellent condition with none of the glass having any rock chips, cracks, or other damages. The dash pad was also in like-new condition with no cracks and the door panel, and the instrumental panel areas were in like condition. The vehicle is equipped with the following: eight cylinder 5.7 liter engine, rear wheel drive, glass roof panel, power windows, power locks, automatic transmission, dual mirrors, cruise control, air conditioning, intermittent wipers, power steering, traction control, alloy wheels, ABS, leather, dual power seats, and premium AM/FM stereo with a cassette and a compact disc player.

Market Sample:We identified the following advertised vehicles as the most comparable to the specified vehicle above. The comparable vehicles are based on the year, make, model, body style, and engine configuration.


(comparables deleted to save room}


Results of Evaluation: It appears that the vehicle sustained extensive structural damage from the accident on 5-28-04 We reviewed a repair order from G and M Auto Body and the report showed that overall the total costs of repairs were $10,799.

In this case, the pre-loss value of this vehicle is $26,600. In myexpert opinion with over 28 years in all phases of the automotive industry that this vehicle’s value has been diminished by 50 % or the sum of $13,300. This figure is the difference between the pre-loss value and the post-loss value. It is common knowledge that high end structurally damaged vehicles have a significant amount of stigma attached to them.

If I can be of any further assistance, please do not hesitate to call or Email me.

Sincerely,

_________________

Terry M. Fisher

Appraiser

Phone: (503) 722-1768​

Fax: (503) 656-1249

Email: Fterry1@msn.com

 

[TheBlueVette]

Repairs complete

Should have some news later today. The body shop called and said they're done.

- Dave

 

[Edmond]

Should have some news later today. The body shop called and said they're done.

- Dave

Good luck Dave, I'm hoping to hear some great news later today.

 

[atmmac]

wouldnt it be cool if they threw on a Supercharger and a ton of mods just for his trouble?

 

[67HEAVEN]

wouldnt it be cool if they threw on a Supercharger and a ton of mods just for his trouble?

Sure, maybe they'll throw in Santa Claus while they're at it.

 

[theblackvette]

Is it as good as new?

I wonder if you will be able to tell if this car was repaired. Good luck!

I still say they should give you a replacement. End of story!

Should have some news later today. The body shop called and said they're done.

- Dave

 

[TheBlueVette]

Frank Fragomeni at Stewarts said he only had a brief conversation with Terry Fisher, and never agreed to a price. As far as he's concerned, the offer of $17,300 holds unless the owner agrees otherwise.

He tried to conference Terry in, but only got voice mail.

 

[DRTH VTR]

Stewart's appears incapable of learning anything....

 

[theblackvette]

WHAT? I just checked the calendar. It isn't April Fools Day!

You CAN'T be serious! I just spit out my coca-cola on my monitor!!!!!

Frank Fragomeni at Stewarts said he only had a brief conversation with Terry Fisher, and never agreed to a price. As far as he's concerned, the offer of $17,300 holds unless the owner agrees otherwise.

He tried to conference Terry in, but only got voice mail.

 

[Piet]

I think that small claims court might still be an option....
(based off your diminished value report)

 

[Bob Chadwick]

Don't turn this car over to them until you have settled the claim, including the dimunition in value, with their insurance company. Who is to say who owns the dimunition in value claim once the title is turned over to Stewart. You say you do. Stewart says they would not have paid this much money if they weren't going to get it.

 

[TheBlueVette]

I think that small claims court might still be an option....
(based off your diminished value report)

There's a limit of $5,000 in California. On the other hand, that's $5,000 more than I could get otherwise.

 

[cruzer99]

I wonder how many Vettes we could get to show up at Stewards on a weekend, there busy day, to show support and let people know what's going on. If we only state the facts there is no libility.

Just a thought...........

 

[Vette_Newb2]

I wonder how many Vettes we could get to show up at Stewards on a weekend, there busy day, to show support and let people know what's going on. If we only state the facts there is no libility.

Just a thought...........

If you got about 50-75 people to show up, make a bit of a scene legally, hurt the days business by distraction only, then I believe Stewards would be ALOT more flexible and willing to negotiate. Be sure and point out to the manager that this will be a weekly event until Dave has proper satisfaction.

 

[TheBlueVette]

Spoke to Appraiser

I just got off the phone with Terry the appraiser. He said last time he spoke to Frank at Stewarts, he was on the phone for an hour working on a deal for me. I told him that Frank said they only spoke briefly, and no deal was made. He has formed a new opinion about Frank.

He's going to only deal with the owner, and hopes to get everything resolved next week.

Anyone ever see that movie Gaslight, where this guy does stuff to his wife to drive her crazy, or maybe just to make her think she's going crazy? I know what she felt like.

- Dave

 

[TheBlueVette]

A special event at Stewarts

If you got about 50-75 people to show up, make a bit of a scene legally, hurt the days business by distraction only, then I believe Stewards would be ALOT more flexible and willing to negotiate. Be sure and point out to the manager that this will be a weekly event until Dave has proper satisfaction.

I just received a flyer from Stewarts that they are looking for used Corvettes for resale. If my vehicle passes their inspection, I could trade it in for a 2004, with almost no out-of-pocket, and payments I can afford. I might even qualify for a $5,000 customer loyalty rebate. This special event, only for special customers, starts today, through Sunday.

I think it would be a perfet weekend for a special rally.:L

-Dave

 

[RCG]

Dave;

Be very careful to get a precise definition of "...almost no out-of-pocket." They may still be trying to screw you.

Cheers!

 

[TheBlueVette]

Dave;

Be very careful to get a precise definition of "...almost no out-of-pocket." They may still be trying to screw you.

Cheers!

Hey RCG!

Right you are. What does "almost no out-of-pocket" mean to someone who can drop a car off a lift and say they'll make "as good as new"? I think 'almost no out of pocket" means "when we're done with you, you won't even have pockets left, so there'll be nothing to come out of them." These guys wrecked a low-ileage 97, and then tried to make money out of it. They're low-balling me on the value so they can turn around and sell it at top doller. Do I think they may be trying to screw me?

- Dave