If you have been involved in a motor vehicle accident, you will know the stress, worry, and aggravation that follow. In the best-case scenario, neither you nor your family will be harmed in the collision, thanks to your vehicle’s structural integrity and safety features.
It is very likely that your car will sustain some damage as a result of this collision. This can include cosmetic damage, such as scuffed paintwork, or more severe damage to the vehicle’s chassis.
If you are not at fault in an accident, your insurance company should return your car to a pre-collision condition, ensuring it is properly repaired to a high standard. However, an accident may reduce your car’s value if you decide to sell it.
How Diminished Value Affects You
There are three types of diminished value. First, there is the value your car holds immediately after an accident. Your insurance company should aim to return the vehicle to its pre-collision value, either through compensation or repairs. Second, inherent diminished value refers to the loss of trust potential buyers have in your car simply because its logs show it was in an accident.
Even if your car has been repaired to manufacturer’s standards, you will receive lower purchase offers because the records show a collision occurred. You may be able to claim the difference between your vehicle’s pre-accident value and the purchase price from your insurance company. Finally, repair-related diminished value means your car was repaired using substandard techniques and parts. This ranges from paintwork being the wrong color to the use of aftermarket parts.
How Can Wreck Check Help?
Many online resources recommend diminished value calculators to estimate the potential loss you will face on selling your vehicle. At Wreck Check, we believe online calculations devalue your rights. You may not know that inappropriate parts were used, for example, or the severity of the damage your car sustained.
If you intend to sell your vehicle and it has been in a collision, contact Wreck Check Atlanta today to determine your car’s true value.
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