A diminished value calculator can be used to assess the loss in value to your car because of an accident. Even once you repair your car to the previous condition, a loss of value occurs. This is a little known fact of car ownership. A subsequent purchaser may be more apprehensive to buy a car that has been involved in even a minor collision. That is the main reason for the diminished value.
Evidence of Diminished Value
If you want to assert a claim for diminished value due to an auto accident, you will have to do some homework. A diminished value claim is often hard to prove unless you are actually selling your vehicle and have only been able to get a lower amount for your car than you would have been able to get before an accident. Still, by nature the claim is speculative. Here are some ways to attempt to prove a diminished value claim:
- Get a statement from your car manufacturer as to what qualifies a vehicle for pre-owned certified vehicle status. This is important because if the damage to your vehicle causes a dealer to devalue it, other purchasers are also likely to devalue it. Get any company documentation you can. You do not have to indicate the purpose for your inquiry. You can just ask what criteria they use to determine a vehicle is certifiable.
- Get an appraisal report from an expert who handles diminished value claims. This can be used as in court evidence as well as evidence with which to negotiate a settlement. Having a report by an expert makes your case stronger than just saying that your car is worth a different amount than you are being offered.
- Keep a dated valuation chart of your car for the times prior to an accident and after to help establish facts in your case. You can create such a chart even after the accident as long as you base it on facts.
Getting Legal Advice
If you need advice about your auto accident claim, consult with an attorney to find out what the best method for proving diminished value is in your case. Each accident case is unique. An attorney can help you figure out how the law applies to your facts. Getting legal help after an accident can make a sizable difference in the amount of your settlement or award.
