Appraisal Clause / Value Dispute:
Insurance company giving you a low settlement value? There are many reasons the insurance company is giving you a low value. Having an expert on your side can add thousands to your vehicle's value. Simply Email your claim information to me and I'll review promptly and let you know how I can help. The cost to handle your claim to completion is $250 to $450 depending on several factors.
Diminished Value:
You are entitled to diminished value even if the repairs have restored the vehicle back to pre loss condition / appearance. The history of the vehicle can be reported as a result of an accident. When you go to sell it, the value of your vehicle can be substantially less than a non repaired vehicle. The percentage of diminished value is based upon several factors. Year, make, model, mileage, and extent of damage. The percentage can range from 3% all the way to 50%. Email your information now for a free consult.
Diminished value of previously damaged motor vehicles exists as a result of the basic influence of supply and demand in a free market. In general, the demand/consumer holds that “damaged goods” have less value. In particular in the used car market where individual items may be similar, they are if ever identical. Damage history becomes one of many factors that may cause a negative variation in otherwise similar vehicle values. The perception of an ongoing risk factor on previously damage vehicles along with fear of a future lost resale value are the dominating forces that causes diminished value where there has been a previous damage repair.
Under tort law, diminished value is covered because the standard measure of damage recovery includes all damages including loss of use and diminished value.
In recent years the general public has become aware of this situation primarily because the industry identifies salvage vehicles with a stigmatized title and goes to considerable lengths to educate the previous largely unaware consumer market of their undesirability and risk. The unmolested documented virgin used car becomes a premium and the previously damaged unit has reduced market value even without the salvaged title because of general awareness of this issue through Carfax ect.
The following are the variables that are part of the equation that determines the loss of value in all cases.
The history as evidence such as Carfax, NICB reports, DMV reports, etc.
Age and mileage of the damaged vehicle – the newer and / or lower mileage of the vehicle, the higher percentage of the potential loss.
Prestige factor – this influences the awareness and expectations in the buyer market.
Type, extent, severity, and cost to repair the damage.
Quality of repair versus the expectation.
Salvage title status by far the most important of the hard factors.
The human element – is an enormous variable. On one extreme it can be more important than all the hard factors combined, on the other extreme it can totally eliminate any consequence.
In actual market transactions, diminished value is seldom realized, and typically, not of much consequence unless the repair quality is poor and obvious to the untrained eye or unless there is a paper trail. The salvage title alone always has significant effect. This can be enormous in combination with other factors.
Appraisal Clause / Value Dispute:
Insurance company giving you a low settlement value? There are many reasons the insurance company is giving you a low value. Having an expert on your side can add several thousands to your vehicles value. Email your total loss report along with any pre or post accident photos.
I'll review promptly and let you know how I can help. The cost to handle your claim to completion depends on several factors.
Classic vehicle appraisal:
Whether your selling or insuring your classic vehicle I have the knowledge and expertise to value your vehicle in today's market. The cost to value your classic vehicle depends on several factors. Please Email me your questions and information for a free consult.
Donation appraisal:
For $100 to $150 I'll be able to provide you with a licensed appraisal for your donated vehicle. Inquire here
D.O.L. appraisal:
For $100 to $200 I can provide you with a licensed appraisal to support the value of your recently purchased vehicle. In many cases saving several hundreds in sales taxes. Inquire here
Diminished Value:
You are entitled to diminished value even if the repairs have restored the vehicle back to pre loss condition / appearance. The history of the vehicle can be reported as a result of an accident. When you go to sell it, the value of your vehicle can be substantially less than a non repaired vehicle. The percentage of diminished value is based upon several factors. Year, make, model, mileage, and extent of damage. The percentage can range from 3% all the way to 50%. Email your information now for a free consult.
Diminished value of previously damaged motor vehicles exists as a result of the basic influence of supply and demand in a free market. In general, the demand/consumer holds that “damaged goods” have less value. In particular in the used car market where individual items may be similar, they are if ever identical. Damage history becomes one of many factors that may cause a negative variation in otherwise similar vehicle values. The perception of an ongoing risk factor on previously damage vehicles along with fear of a future lost resale value are the dominating forces that causes diminished value where there has been a previous damage repair.
In recent years the general public has become aware of this situation primarily because the industry identifies salvage vehicles with a stigmatized title and goes to considerable lengths to educate the previous largely unaware consumer market of their undesirability and risk. The unmolested documented virgin used car becomes a premium and the previously damaged unit has reduced market value even without the salvaged title because of general awareness of this issue through Carfax ect.
Loss of Certified Pre Owned Status? CERTIFIED PRE-OWNED VEHICLES (CPO) My role as a diminished value appraiser is to continually interview franchise and private dealership managers regarding the accelerated depreciation vehicles suffer due to collision repair history. I have seen countless dealer quotes from my customers who try and trade in their wrecked and repaired property. There is undeniably a negative market impact to a qualified vehicle that has collision history, whether the owner trades-in, or they privately sell in the open market with full disclosure. Each manufacture has a factory supported warranty program for certified pre-owned vehicles that requires a vehicle to undergo a comprehensive inspection and history check. Has your vehicle sustained FRAME damage? Your vehicle will no longer be considered a CPO vehicle. Recover your loss of value today.