Diminished value

Diminished Value is the loss in market value that occurs when a vehicle is wrecked and repaired. Insurance companies will only offer you part of what
is due if anything is offered at all. Don't let the insurance company tell you how much. Ask The Experts at Collision Claim Associates, Inc. www.collisionclaims.com They stay with you thru the entire claim process. You get an inspection which most companies demand before any payout. Then a report with the real DV dollar amount with instructions and sample demand letters for all contingencies.
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Diminished value is what you get when you own a car, period.
Buy used and cheap. Put the rest of your money into stocks, or real estate.
Vito

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How's the real estate and stocks working out for you? Three of my present cars have gone up in value during my ownership, 2 have not. On the other hand both my home and stocks have gone down near the value of those 3 cars.
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Dad wrote:

And, then there's the triple whammy of REITs. That's where the current value won't buy a Yugo. -- pj
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Heh..... I was waiting for that one.
-W
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Vito has it right. I buy used Cadillacs - my last one, a 2000 Seville was $15,000 with 26,000 miles on it - still under warranty. New it was close to $50,000. Still running it with 106,000 on it. My 2000 Corvette was used - bought in 2002 for $34,000 with 9,000 miles on it. Cheap is necessary in Virginia with the car tax. Anything over $20K you get hammered.
No one lost anything in the stock market or real estate. They never had it. Those who were lucky enough to see the worthless bubble made out. I went to high school with a self-made billionaire and was one of the lucky ones - he told me to get out of the markets in 2008. Now, when to back in ...... that's a hard one.
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news:e63c12d3-7160-49e8-9f74-

I can assure you that if they bought at the "wrong" time - thay had it - and lost it.
Caddy's and Vette's as investments are like comparing apples and hammers. Steel Bumpered Vetts don't devalue - period.
-W
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Cars are not investments. You need them. Vito's point was to buy them used and cheap and use the difference to invest. Buy high and sell low - of course they lost. Who would use cash to buy in at the top - don't people look for a trough? - even I went back in last October for a week and rode the wave.
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More important is if they sold it. I have stock mutual funds that have gone down in value from their peak, but I haven't "lost" anything yet since I haven't sold them. Even then I wouldn't lose anything, as they are worth more than I paid for them.
Ken

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I hadn't been talking about collector cars. Those would be considered commodities in stock market lingo which are legitimate investments.
I was talking about the latest, run of the mill, new car, even a Vette.
BTW, I doubled my money on a 69 Vette I bought in 94 and sold in 98. I bought low and also sold low but of course, still at twice my buying price.
I have a 64 Vette I bought in 91 that has doubled but that is a keeper.
Of course with stocks and RE, you have to know what you are doing, as with most things in life. But a new car 'never' has made anyone any money.
Vito
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Not always the case but then they may have to keep them awhile to recoup the cash outlay to get it for a chase car. There at least 2 new Z06 police cars out there turning the dollars both driven by cops with smiles.

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