Diminished Value is defined as the depreciated value of an automobile accelerated by an accident (collision) or an incident (fire, flood, hail).
Automobiles are depreciating assets that normally decrease in value as time goes by; car accidents on the other hand, hasten the normal rate of depreciation and lead to an immediate and quantifiable loss in value.
FACT: A wrecked and repaired vehicle will always be inferior to, and have 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 will not be interested in acquiring a wrecked and repaired vehicle; the few that are, will demand 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 history report.
What Happens To Cars After An Accident
How can Eric Meyer Automotive Expert Help You?
We will provide you with a professional appraisal and all the documentation required to prove that your vehicle has sustained a loss in it’s value and that your Insurance Company still owes you money.
Eric Meyer Automotive Expert – Your Advocate for diminished value San Francisco!
Our Diminished Value Appraisal Inspection and Full Report Includes:
- Full review and detailed inspection of your repair invoice and other documents provided by you.
- Perform visual and measured inspection of the vehicle for the extent of damage.
- Operate all options and safety related equipment for related damage caused by the accident.
- Access inspection panels for evaluation and evidence of kinetic damage caused from the impact.
- Detailed inspection for suspension damage caused by the accident.
- Inspect for evidence of structure damage and repair correction.
- Perform vehicle road test.
- Contact repair facility to confirm factory repair or replacement standards. Obtain printed evidence and or documents.
- Determine the pre-damage value of your vehicle.
- Determine the level of repair diminished value.
- Professional Diminished Value Report that includes all supporting documentation to settle your claim.
- Make contact with insurance claims office or forward to your lawyer per our agreement.