Auto Insurance Claims: Diminished Value, rear end collisions, value of my car

Question
I bought a 2002 Camero Convertible with 19189 miles (Excellent Condition) for $16000.  Four days later I was rear ended.  The damage to my car was only $3500 but it bent the frame.  I am now told by dealerships(all major dealers in Okla City) that since my car sustained frame damage, it decreased the value of my car by 50%.  So now I have a 5 year note in the amount of $14000 (amount financed) on a car that is only worth $8000.  I was told that I could file a claim for diminished value.  I also was told it was hard to get the insurance company to pay for diminished value and when they do, it is only 10% of the damage cost.  What do I need to file a claim for diminshed value and what should I expect?  I was injured in the accident so I have done nothing to begin the claim proceedings on my car.  My husband only took the car to the body shop and got an estimate.

Ginger

Answer
Ginger,
I'm sorry to hear that you were rear ended and especially that you were injured, but you may be relieved that I believe there has been a miscommunication here.

A Camaro doesn't have a frame in the rear.
It is a unibody car.  What they are referring to is a "rail" that is welded to the rear body structure.  It is what supports the floor.  Most cars nowadays are unibody construction and they do not ride on full frames like trucks and SUV's.  The rear components include the body panel, rails (also known as side members) 1/4 panel and floor.  Most moderate rear end collisions result in some damage to at least one of these components and they are either repaired or replaced.  If done properly, there should be no significant diminution in value.  

The only reason that you've been told that the vehicle is only now worth 1/2 of its value is because you've been telling dealers that it has a bent frame.  This just goes to show you how much dealers know about the cars they sell.

The only cars that are only worth 50% of their normal value are cars that have been totaled and then repaired as "rebuilt salvage".  A $3,500 unibody repair is nowhere close to this scenario.  

As long as this car is properly repaired, it's value should not be significantly affected.  It boils down to this.  If the car is nice, has been properly repaired and then cared for in the future, you'll have no problem finding a buyer for it when the time comes.  Now, if you paid too much for the car to start with, then that's a whole different issue.

Just make sure that this shop knows what they are doing and if your state allows diminished value claims, go ahead and file.

Good luck and I'd appreciate your feedback.