Diminished Value Inspection

ACME Auto Appraisal is a Licensed NC Motor-Vehicle Damage Appraiser, used both by the insured and the insurance company. We provide fair and balanced analysis of diminished value of your vehicle.

 

What Is Diminished Value ?

 

Diminished value is a term used to describe the decrease in a vehicle's resale value after it has been damaged and then repaired. It refers to the difference between the vehicle's value before the accident and its value after the repairs have been completed.

 

Even if a vehicle is repaired perfectly, it may still be worth less than it was before the accident. This is because many buyers are wary of purchasing a vehicle that has been in an accident, even if it has been repaired. Additionally, the vehicle's history will now show an accident, which can further decrease its value.

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Diminished value can be further divided into three categories:

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1. Inherent Diminished Value: This refers to the loss in value due to the fact that the vehicle has been involved in an accident. It takes into account the negative impact the accident has had on the vehicle's reputation.

2. Repair-Related Diminished Value: This refers to the loss in value due to the quality of the repairs that were done on the vehicle. If the repairs were not done correctly, or if aftermarket (i.e., Non-OEM) parts were used, the value of the vehicle may decrease further.

3. Immediate Diminished Value: This refers to the loss in value that occurs immediately after the accident, before any repairs have been done. It takes into account the fact that the vehicle has been damaged and may not be as attractive to potential buyers.

 

Diminished value can be important to consider when valuing a vehicle for insurance or resale purposes. We are experienced in the field of diminished value as fully Licensed and Insured Auto Appraisers. We work for both plaintiff and defense to provide fair and accurate evaluations. Contact us today to discuss your Diminished Value case.