When it comes to car accidents, many different factors can come into play when determining who is at fault and what kind of damages should be awarded. One type of damage that is often overlooked is diminished value, which refers to the reduction in value that a car experiences after it has been in an accident, even if it has been fully repaired.
So, when would you need a diminished value claim? Here are a few scenarios that Wreck Check Atlanta deals with frequently in our service to consumers like you.
You Were Not at Fault in the Accident
If you were in an accident caused by someone else, you might be entitled to a diminished value claim in addition to the other damages you seek. This is because even if your car is repaired to its pre-accident condition, it has still lost some value. After all, it was involved in an accident.
You Drive a High-end or Luxury Vehicle
If you have a car worth money, even a tiny amount of diminished value can add up to a significant amount. This is because buyers of high-end cars are often very particular about the vehicle’s condition, and any indication that it has been in an accident can make it much harder to sell.
You Plan to Sell or Trade Your Car
If you plan to sell or trade your car soon, consider pursuing a diminished value claim. This is because even if the vehicle has been fully repaired, the fact that it was involved in an accident may make it much harder to sell or trade for its total value.
You Lease Your Car
If you are leasing your car, you may be required to pay for any diminished value resulting from an accident. This is because the leasing company owns the vehicle, and any reduction in value affects their asset.
Learn More About Diminished Value Claims
It may be worth pursuing a diminished value claim if you find yourself in any of these situations. However, it is important to note that these cases can be challenging to prove, and you will likely need the help of an experienced attorney to make your case.
Wreck Check Atlanta can explain more about each scenario above and how an accurate appraisal and diminished value claim can help you. We work to help consumers all across Georgia and the surrounding states to protect them from predatory insurance practices, dealer fraud and improper vehicle repairs. Our team can help ensure you are not left to pay for someone else’s mistake.
Learn more and get the help you need with Wreck Check Atlanta. Call, email or complete the contact form on our homepage to schedule an appointment to discuss your situation in detail. Our team is waiting to help you.
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