How to determine diminished value? First you need to understand what diminished value is. Diminished Value is the sudden and unforeseen loss of value of a vehicle due to having sustained collision damage and subsequent repairs. This is not to be confused with normal depreciation that occurs to a vehicle over time. Consumers generally believe that a vehicle damaged by Continue Reading...
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What is the basis of a Diminished Value Claim? Inherent Diminished Value is the sudden and unforeseen loss of value of a vehicle due to having sustained collision damage and subsequent repairs. This is not to be confused with normal depreciation that occurs to a vehicle over time. Inherent diminished value assumes that the vehicle has been repaired to industry Continue Reading...
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What is diminished value? Diminished value is the reduction in a vehicle’s market value occurring after a vehicle is damaged and then repaired. Collision history is a relevant fact, and so is diminished value. Industry research indicates that severely damaged and repaired vehicles can lose as much as 40% of their pre damage value, even with quality repairs. Of course, Continue Reading...
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