shivamerlin

Hey guys,

Well, I've got rear ended a few days ago but the good news is, nobody was hurt. Glad to see what a safe car this S4 is. I am not a fault but it still sucks since I've only had the car for one year.

I do not know exactly how much the damage is but the first rough numbers is around $20k. So I've got a lot of questions:

-Should I trade it in after repair, as I hate driving an accident car?

-Will Audi give me the same money when I trade it in after the car is fixed by a certified repair shop?

-Has anyone experience with a diminished value claim?

-How much should I expect to get back?

-Is there anything else I need to look out for?

Sorry about all those questions but that's my first accident after 19 years of driving.

Thanks everyone for their input.

Audis or VWs 4Life

Push to get the car totaled. If the initial estimates are 20k count on the repairs being closer to 25k when finished.

snagitseven

I seriously doubt $20-$25K will be eligible for a total on the current value of a 2013 S4.

To the OP:
A repair of this magnitude will probably get reported and picked up by CarFax which could affect the value.
Diminished value claims can be tricky and vary from state to state and insurance company. Here's some info to get you started:
http://en.wikipedia.org/wiki/Diminished_value

Dilettanteque

I feel your pain shivamerlin....always a sad sight.

Lawaspen

Well, having just gone through this I can tell you that GEICO valued my car at $41K. Prestige, black optic, loaded with 25K miles. I had $26K in damages (none structural, all body work and air bags) and GEICO did not total the car; I pick it up tomorrow. Lease ends October 1. I am just turning it in and getting a new one.

shivamerlin

Thanks for the input. What year is your S4? Are you going to make a diminished value claim with the insurance? Depending on your year it seems a little low for a prestige S4 with all bells and whistles...
The clean trade in value on my S4 is around $43,500 without accident of course.

No matter how much the repair will be I am going to turn in the car after it's fixed. I should have an repair estimate by Wednesday this week.

Lawaspen

It is a 2012. I am not sure how a diminished value claim works on a leased vehicle. Audi bears all responsibility for that; I am not charged anything as a result of this accident when I turn the car in at the end of the lease in a couple of months. Am I missing something?

shivamerlin

I'm not sure either, that is why I've opened this thread.

Well if Audi Finance takes the hit that should also mean that they need to give me the same kind of money for the trade in as the car has never been in an accident and I seriously doubt that. Mine is a lease as well so I really don't know how this works but my goal is to get at least enough for the trade in to pay off the current lease.

snagitseven

As long as a leased car has been completely repaired/restored to factory condition, the lease company takes the risk on any diminished value at end of lease with no hit to the lessee. This assumes there is other no significant wear and tear, serviceable tires, etc. (This would not be the case if financed as the car is owned by the purchaser).

shivamerlin

A quick update...

My S4 was declared a total loss and the insurance is going to offer me the market value based on NADA Guides which is around $47k. The current buyout from Audi is $42k.

I do know that the insurance will send the check to Audi Finance as they are the owners of the leased vehicle.

My question now is whether Audi Finance will cut me a check for the difference or does the difference have to be put toward the lease of the new S4? I'm fine with either option but wanted to see if anyone here has experience with this?

Thanks guys!