Sunday, November 15, 2020
Rob’s report was the deciding factor that won my Accelerated Depreciation case. Going through the dispute with ICBC was a long process, but Rob kept in touch with me the whole way, answering my questions and helping me navigate this complicated process. His expertise and professionalism is unmatched! Thanks, Rob! ~ from Brian P
Peterson v Texmo Decision - https://lnkd.in/g9-4YeN
Friday, October 2, 2020
The Civil Resolution Tribunal accepts the Fournier Auto Group's expertise and awards accelerated depreciation
On balance, I accept Mr. Fournier’s opinion on the Porsche’s valuation and its accelerated depreciation. I find it more likely than not that the collision caused the repaired Porsche to depreciate quicker than it otherwise would have, at a rate of about 2.5% to 3.5%. I find Mr. Lai has not proven that his loss was more than the lower end of this continuum. Based on the Fournier Report valuation, I find that Mr. Lai is entitled to a total of $1,805 in damages for accelerated depreciation.
The award includes reimbursement for the Fournier Auto Group Report.
Tuesday, August 1, 2017
In my opinion there are a number of contributing factors to why accelerated depreciation exists. Psychology, poor repairs, the risk involved with buying a previously damaged vehicle, lack of resources to help minimize the loss and stigma.
Today I'm going to speak to the topic of a lack of resources to help minimize accelerated depreciation.
Where would you go if you were trying to sell a vehicle that had been damaged and then repaired? There are very few resources online, if any, that help a consumer determine their vehicles value. Most people go to a dealership to figure out their vehicles worth. But there are a few issues with this.
A dealership may:
- Offer a fair trade in price at wholesale. Dealerships do not buy vehicles for what they are worth in the retail market. They need to leave room for margin, recondition etc. Due to this you lose anywhere from $3000 + when trading a vehicle in. This has nothing to do with the damages.
- You are offered a low number because the dealership isn't comfortable taking your vehicle in on trade due to the damages. This is the most common situation. To counteract their concerns, they will offer a low number to protect themselves.
- A dealership sees an opportunity to make extra money on the trade in and purposely offers you a low number. Dealerships are businesses and if the opportunity arises to make extra money, no one would blame them.
It is my belief that this money comes out of our premiums, so it makes sense to try to minimize the loss as much as possible.
Wednesday, February 1, 2017
- The VIN (Vehicle Identification Number)
- The date of loss
- Your drivers license number
This blog will focus on helping buyers and sellers in British Columbia learn about damages and how to sell a vehicle that has been damaged.
If you have any questions please let us know.
Topic 1 - How to research a vehicle accident repaired in British Columbia
Topic 2 - Selling a vehicle that has been previously damaged and then repaired - coming soon....