What is Diminished Value?
Diminished Value, by definition, is the depreciated value of an automobile accelerated by an accident or incident.
The depreciation trajectory of a wrecked and repaired vehicle is shifted down.
Depreciation is the natural phenomenon occurring as time goes by, an auto accident acts as an accelerant sharply increasing the rate of depreciation and leading to an instant and inherent loss in resale value. The fact remains, a vehicle that is wrecked and repaired will always be inferior to, and has less value than, an undamaged counterpart.
Courts have stated that vehicles involved in an accident suffer an inherent reduction in value, and that efficient repairs could not return said vehicle to its pre-accident condition or value. The majority of car shoppers are not interested in acquiring a wrecked & repaired vehicle; with the few remaining suitors, demanding a hefty discount. Buyers tend to be afraid of the long term implications of a collision as well as the negative impact on the vehicle’s history report.
Typical Loss-in-Value Example: The Lexus below had an actual cash value of $24,000 before the wreck. Due to a rear-end collision causing body and structural damage, the repair was estimated at $10,500. The severity of the accident reduced the vehicle’s post-repair market value to $19,400.
The loss in resale value, in this case $4,600, is legally owed to bring back whole the owner of the vehicle. If you’ve had a recent car accident, please visit our ” Do I qualify?” page to see if you’re entitled to monetary compensation.
Why Hire a Diminished Value Appraiser?
To be properly compensated for your vehicle’s loss in resale value, it’s very important to hire the most qualified Auto Appraiser. We understand times like this can be very stressful, this is why our licensed diminished value appraisers will guide you through your entire claim and offer assistance every step of the way.
Most insurers tend to use a bad formula called 17c to quantify the loss in value. Most claimants, unaware of their right to reject and dispute that amount, end up leaving millions of dollars uncollected. We have proved that the 17c formula is incorrect and inherently flawed, the Georgia Insurance Commissioner concurs. Read the Georgia Insurance Commissioner’s Directive on Diminished Value. We strongly recommend getting a free estimate from us before settling for a low-ball, 17c based, insurance offer.
Auto Appraisal Report
To document your loss, it’s your responsibility to submit to the insurance carrier a bona fide appraisal. That’s what we specialize in. Our diminished value report includes:
- Multi-Point vehicle physical inspection.
- Vehicle History Report
- Repair Quality Analysis
- Insurance demand letter tailored to your claim.
- Market Analysis of comparable vehicles
- Supporting legal documents
- Auto industry guide
- Pre-Accident value
- Repair bill analysis
- Post-Repair Value
- Diminished Value Dollar amount
As you can see, this is a complete and comprehensive Diminished Value Solution that you cannot find elsewhere. Read this page before hiring an Auto Appraiser, it will explain to you why you should hire us for your diminished value appraisal needs. If you are ready to move forward, visit our order page to get started. We look forward to helping you collect the payout you truly deserve.
Not all Auto Appraisers are created equal!
In Georgia, regardless of fault, you’re entitled to your vehicle’s loss in resale value. It’s the law! Collecting diminished value on the other hand depends on many factors, the most important of which is the selection of a competent auto appraiser.
To avoid getting caught in an online scam, always hire a licensed auto appraiser. Someone that is reputable, BBB accredited (with no complaints) and always check if the appraiser you’re considering offers a money back guarantee! Our appraisers have 30+ years of combined auto experience, we are experts in automobile valuations and the authority on diminution in value auto claims. In 2011 we helped our clients achieve an additional $4.9 million in claim payments.
We are so confident of the quality of our appraisal services, we offer an industry first 100% money back guarantee, we are ethical, accurate and reliable. You can retain our appraisal services for a flat appraisal fee.
