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What Is A Vehicle Diminished Value Claim? 3 года назад


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What Is A Vehicle Diminished Value Claim?

Can I make a diminished value claim after an auto accident? If your vehicle has been in an accident and it has been damaged and repaired, you may be able to make a claim for diminished value. After an accident your vehicle will never be worth the same even if it is repaired. That is because the VIN number follows your vehicle like a social security number. When you go to trade your vehicle in, and the dealership reviews your vehicle's VIN number it will see that your vehicle was in an accident. The dealer will want to offer you less money for your trade-in. What I do with my clients is I get diminished value reports done after their damaged vehicles are fixed. The diminished value report indicates how much the vehicle has lost in value. Once I get that number, I send it to the responsible insurance company and ask them to pay my client that amount in a check, not discounted in any way. That compensates my client for diminished value of their vehicle.

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