Saturday, July 23, 2016

Google Review - Five Stars

Highly recommend getting Rob Fournier to get you back the money you deserve on the financial loss you have suffered on the value of your vehicle. I had an extensive amount of damage done to my new car by a negligent driver. Although ICBC paid for all the repairs I was still at a loss for the depreciated value of my vehicle. Rob provided me with an Accelerated Depreciation Report which got me my lost value back from ICBC. I was able to keep it out of court which was a huge time saver and spared me the stress. Rob was also very helpful, insightful and professional. From my personal experience I would recommend Rob's services to anyone who is facing a similar circumstance. Teha Lagah

Saturday, April 9, 2016

It's time to amend the $2000 accident declaration law in British Columbia

My understanding is that this law was brought into play in the 1970s.  Its obvious purpose was to make sure consumers knew when they were purchasing a vehicle that had previously sustained damages of $2000.

This law made sense in the 1970s when a head light was $20.  Today it is not uncommon to see LED headlamp assemblies that can cost over $2000 for a single unit.  The cost of parts and repairs have increased dramatically and unfortunately this law has stayed the same.

The one interesting this about this law that most people don't understand is that you must declare any damages that cumulatively exceed $2000.  This is not per incident, but if you have numerous damages that add to more then $2000.

Example would be a 2012 Rav4 Limited

2012 - Windshield replace - $700
2013 - Bumper damaged and repainted $1500

$2200 in damages

This owner must now disclose a $2000 declaration.  Take a look at the wording used on the tax transfer.  "Cumulative Vehicle Damage".

 

Consequently this law causes the unnecessary loss of vehicle value, due to having to declare an accident history, when in some instances there is no need to lose value.  Accelerated Depreciation / Diminished Value could be mitigated in some instances if this law was amended to be more appropriate for 2016.  If you don't know what Accelerated Depreciation is - Click Here for the CBC Marketplace Episode.

Do you want to add your voice?  Sign the Change.org Petition - Sign Here


Wednesday, April 6, 2016

2016 Judgement awarding Accelerated Depreciation





Rutter v, Adams
2016 BCSC 554

[311]      As a result of the first accident, Ms. Fletcher’s 2006 Toyota Matrix sustained damage that cost $9,282.46 to repair.  She says that its value was reduced as a result.  When Ms. Fletcher and Kevin Fletcher became frustrated with repeated trips to the automotive repair shop and what they viewed as inadequate repairs to the vehicle, prepared it for sale.  It was a fully loaded 2006 Matrix, which appeared to be in reasonably good condition.  As they did not believe they would be able to sell it privately with its history, they traded it in at a dealership.
[312]      The defendants dispute this claim.
[313]      Mr. Scarrow’s Accelerated Depreciation Assessment Report, dated September 8, 2011, includes the following:
It is my opinion the result of the collision repairs upon the vehicles Actual Cash Value was accelerated in terms of depreciation by Two Thousand Five Hundred Dollars [$2500/Cdn.] plus applicable taxes.
[314]      As set out in Signorello v. Khan2010 BCSC 1448 (CanLII), such losses can include a “loss of use and the inconvenience of having to return the vehicle on several occasions” (at para. 33).  I am satisfied that the Fletchers suffered these losses.  Their claim for damages for accelerated depreciation and loss of use is allowed in full.  I award $2,500.

Link to Judgement - www.canlii.org Link to Rutter v Adams, 2016 BCSC 554

Wednesday, March 16, 2016

#Dieselgate



#VWDieselgate‬ - We have had a lot of people ask us our thoughts on what impact the TDI Diesel controversy will have on the resale of VW TDIs. If you are not aware, VW recently got caught cheating emission testing equipment on certain TDI models. Our understanding is that when a TDI was hooked up to a machine to check its emissions, the vehicle would recognize a machine and adjust its engine management to reduce its emissions to pass the test. Once removed from the machine, the vehicle was revert to higher emissions. One of the reasons, this may have occurred is because engine performance often comes at the cost of higher emission. Higher performance often equals more pollution. So in this case VW could advertise better performance then they could actually provide inside of emission standards.
We recently had a great conversation with a used car manager of a Volkswagen dealership. What he shared is that they are not able to sell their new TDI vehicles. This is obviously not great for them and not great for people who want to purchase. However it has pushed up the value of low mileage used TDIs. People want them and due to supply and demand the costs of good used TDIs are maintaining their value and even selling for more. This is almost seems to conflict with what one would imagine would happen to the value of goods offered by a company caught in, what some would consider, a scandal.
So if you are looking to sell your low mileage TDI, now might be the time.