Diminished Value Claim on a 2020 HE LandCruiser

This site may earn a commission from merchant affiliate
links, including eBay, Amazon, Skimlinks, and others.

tonyholland00

tonyholland00

Joined
Aug 13, 2020
Threads
13
Messages
59
Location
Minnesota
Hello, my beloved 2020 HE with 40,000 miles. I am the only owner, and it is in mint condition (No accidents)....was smoked in the rear end one night, we had it sitting out (my wife had to drive it because she needed to leave a different day than I did from our friends' house in Iowa). Long story short....a drunk driver at 9:30pm smoked the back of the LC and piled it into the LX570. UGH!! The guy didn't have near enough insurance (30K) so I am having to use my own insurance.

Anyway, the LC has $47,000 worth of damage to the front and rear of it, I am not sure if they are going to total the vehicle or not.

If they do not total the vehicle out, what are all of your opinions on what the diminished value would be to the LC? My guess would be upwards to 20k. compared to what I could have sold that car with a clean carfax / accident report.

I am hoping they just total it and I can move on, hopefully finding another HE.

Thanks for taking the time to read all of this. I can share photos if anyone is interested.....you should see the town and country minivan :)

Tony
 
Yikes. It's good you weren't in it, but what a mess. I don't know anything about values, but if you want some ideas from others on here, photos of the damage would help.
 
For anyone interested in the accident.



Also here is a photo of what was left of the receiver hitch on the LX570

IMG_6600.webp
 
There is a thread here on another totaled HE, which the owner was fighting the insurance company for his mods. Does not look like you had mods but be careful to make sure they catch the added value for being a low mileage, one owner HE. Check BAT for values if you have to fight. Some adjusters/insurers have no idea and simply mark as a base model, which will make you lose about $10k to $20k in value for the current market. Thought the market seems to be softening for the HEs, they still command a premium.
 
Another !@#$% drunk Iowa driver. Couple years ago similar happened to my friend's van which was parked in front of my house. It was a hit and run. Except 24 hours later the !@#$% kid shows up at my front porch and admits to it. I got his license and called the cops, who showed up immediately. The stupid little !@#$% was likely drunk and did number on the vehicle he was driving which was likely owned by his parents. Which we figure gave him a come to Juses talk. The !@#$% lives at the far end of our street. Every time I pass by the house I want to leave a reminder.

For the OP good luck. I agree with hope they total it.
 
I gotta stop checking these threads before bed… a damn twofer and they tried to run. I might be nauseous.

Looks like the hitch prevented some damage to the LX, HE looks bad.

Damn shame.
 
I would say your 200 is not totaled. They are offering $80k for mine which I think needs to be $90k with mods and comps in the market. Go down fighting but be prepared to be an arse if you need too.
 
Last edited:
BIC JET said:
I would say your 200 is not totaled. They are offering $80k for mine which I think needs to be $90k with mods and comps in the market. Go down fighting but be prepared to be an arse if you need too.
Click to expand...
Thanks,

The damage is pretty extensive when you see it and look closely. Body shop quoted 47k of damage. If you tack on 15-20k of diminished value I would think they would total it but who know, I will find out next week.
 
Well, I sure hope it isn’t totaled. Good luck.
 
tonyholland00 said:
Thanks,

The damage is pretty extensive when you see it and look closely. Body shop quoted 47k of damage. If you tack on 15-20k of diminished value I would think they would total it but who know, I will find out next week.
Click to expand...
Good luck getting your insurance to pay diminished value for someone else hitting you. Most policies won't cover DV in this situation unless state law requires it.
 
You are close to total threshold. It probably depends on other factors than just the value if it tilts one way or the other. Some total at 40% some at 50% some higher. Age of the car also matters on itself. Frame damage is also a factor.
If totaled and you are not happy with the deal the insurance is giving you, for a relatively small sum of money you can hire a professional to do the evaluation and haggling with the insurance. There was a post this week with the name of such company (I forgot it). Your HE still holds a lot of value so make sure you don't leave the money in it.
There is also the possibility that if the value goes up they might not total it.
 
From looking at the video, it looks like that is repairable. I would not be upset if it is not totaled, providing you have a good shop that works on it.
But I wonder why $47k as we saw last year or so ago a case where a huge tree crushed over an 200 and the bill to fix it was not so high and the damage was large. Is that only for LC or does it include the LX?
Did your truck have the hand brake on when parked?
Also, the damage to the van is not as big as I expected. I bet he can fix his ride for less than 25% of your cost.
 
doru said:
From looking at the video, it looks like that is repairable. I would not be upset if it is not totaled, providing you have a good shop that works on it.
But I wonder why $47k as we saw last year or so ago a case where a huge tree crushed over an 200 and the bill to fix it was not so high and the damage was large. Is that only for LC or does it include the LX?
Did your truck have the hand brake on when parked?
Also, the damage to the van is not as big as I expected. I bet he can fix his ride for less than 25% of your cost.
Click to expand...
The dodge van is worth about 4k.
 
To update the thread...the Land Cruiser was totaled out.
They are offering me 75 ACV for the car.... I have not accepted. :)

I have a google doc of all the Heritage editions for sale today and any around the 40k mileage is 88k - 105k range. We will see where we end up.

The salvage value is $45,500.00
 
tonyholland00 said:
To update the thread...the Land Cruiser was totaled out.
They are offering me 75 ACV for the car.... I have not accepted. :)

I have a google doc of all the Heritage editions for sale today and any around the 40k mileage is 88k - 105k range. We will see where we end up.

The salvage value is $45,500.00
Click to expand...
Did you end up settling with the insurance company?
 
tbutler said:
Did you end up settling with the insurance company?
Click to expand...
Yes, I am finally getting payment, hopefully today, after a long process. The car was totaled... they offered me 72k for the HE with 46,000 miles to start providing me a bogus report. They stated that the salvage value of the LC was $ 47,000. I offered to buy it back at 36,000 to no avail.

I fought them and eventually got them to come to the table for 85,999 ACV, but I told them that would not be acceptable, and I hired Billy at Collision Safety Consultants and invoked my appraisal clause. Billy is far from an easy guy to work with and quite an a****** if you ask me, but he did get them from 85,999 to 88,000.

Initially, Billy and his team said the HE is worth only 75k and asked if I had any proof that it is worth 85k. I sent him all the recent Bring a Trailer ads of sold 2020 HE's, and he ran with that, which, as I said above, got me 88k ACV.

Still fighting with insurance on my LX570 it is sitting in a shop waiting to get repaired, but Progressive (the drunk drivers insurance) wants to total it with 8,200 dollars of damage....which will really screw me over.

Anyway, I am going to look at new cars today.....unfortunately, we are looking at the new QX80's as my wife must have Carplay...but I do have a brand new LC500 Inspiration Coupe on order to replace the Land Cruiser.
 
Well you were certainly on the right track trying to get diminished value if they didnt total it. Most people dont even know what that is. Ive successfully gotten my insurance company to pay out DV on 2 separate occasions on 2 different 200s that I owned which were hit by other people, their fault.

But Id say getting $88k from insurance for a 2020 HE with 46k miles is pretty good. Sucks, you dont have the HE anymore, but Id say thats a good amount for it.

On another note, Ive actually got a buddy who has a 2020 HE and his wife was driving a QX80. They just offloaded it to Carvana when the AC went out and the dealer said they had to remove the body from the frame to access a rear AC line that had sprung a leak. Evidently a known issue on those. It wasnt brand new though.

If I was you Id find another 200 and add CarPlay or maybe an LX600. Anyway, good luck!
 
studawg said:
Well you were certainly on the right track trying to get diminished value if they didnt total it. Most people dont even know what that is. Ive successfully gotten my insurance company to pay out DV on 2 separate occasions on 2 different 200s that I owned which were hit by other people, their fault.

But Id say getting $88k from insurance for a 2020 HE with 46k miles is pretty good. Sucks, you dont have the HE anymore, but Id say thats a good amount for it.

On another note, Ive actually got a buddy who has a 2020 HE and his wife was driving a QX80. They just offloaded it to Carvana when the AC went out and the dealer said they had to remove the body from the frame to access a rear AC line that had sprung a leak. Evidently a known issue on those. It wasnt brand new though.

If I was you Id find another 200 and add CarPlay or maybe an LX600. Anyway, good luck!
Click to expand...


I agree with you I am going to look at a LX700h this afternoon....I want a 700h and finding a 2 row one without the stupid 3rd row is very hard.

I really dont want to pay the price tag on one either.

Finding a high-quality LX570 and installing a carplay add on is probably the best idea.
 
tonyholland00 said:
I agree with you I am going to look at a LX700h this afternoon....I want a 700h and finding a 2 row one without the stupid 3rd row is very hard.

I really dont want to pay the price tag on one either.

Finding a high-quality LX570 and installing a carplay add on is probably the best idea.
Click to expand...
The Hamilton kit for the late 570 looks pretty clutch. You could probably still find a CPO 20-21
 
You must log in or register to reply here.

Share this page

Back
Top Bottom