Will You Be Reimbursed for New Tires, New Stereo, etc.?
"What about my new stereo system? Hey, I just put all new tires on that
car. How come I'm not getting paid for them?" "My husband just had a
tune-up on the car." These are all considerations that need to be taken
into account for total fair market value. The only consideration, after
all, is whether an item increased the FMV of the vehicle in any way. Do
not expect to get anywhere near the return in cost of the equipment, tires
or mechanic charges that you recently put into your car, unless you can
demonstrate that the marketplace would reflect an increase in FMV.
However, you should get something. The Kelley Blue Book value refers to an
average car in average condition. You can move your valuation up to a car
in excellent condition if you show that it had received recent substantial
mechanical work or new tires.
When you ask advertisers and car dealers what sold and for how much, ask
also about the tires, the mileage, the mechanical condition, whether it had
stock or custom stereo equipment, etc. If your car has a lot of add-ons,
work them out separately. Show receipts for the cost of these add-ons and
total them up. If they were purchased within 3 to 9 months prior to the
accident, you could expect to get 35 percent to 45 percent of their cost.
If they were purchased 9 to 15 months prior to the accident, you could
expect to get 10 percent to 20 percent of the purchase and installation
cost. You will have to show your receipts, or get a written statement from
the place of purchase showing the cost of each item.