Many Americans are not aware of diminished value claim and appraisal, which helps to get compensation from the sale of cars even after their accent and repair. And, the auto insurance industry does never talk about it. They try all possible means to keep it away from the owners of insured vehicles. Diminished Value Appraisal experts at Benchmark Auto Appraisers play an important role to get you a maximum compensation from the claim to your insurance agent.
The repaired body of a vehicle can make the vehicle look as it was before an accident, but the diminished value depends on buyers' perception of the vehicle. The history of used vehicles is accessible to anyone looking to buy secondhand vehicles. The details of accident and repair in the history of a used vehicle make them rethink about the vehicle. Without a proper diminished value appraisal, you may have to sell your vehicle at a much lower price.
How much of the diminished value can be recovered from the insurance of your vehicle depends on several factors including type of vehicle, market value of the vehicle type, pre-accident value of the vehicle, etc. It also depends on negotiation with the insurance company. We at Benchmark Auto Appraisers help our customers to effectively negotiate with their insurance providers to recover a maximum of the lost market value.
Before you get into negotiation over the diminished value of your vehicle, you need to understand how diminished value appraisal of a vehicle is calculated. The age of a vehicle considerably matters to the value of the vehicle. Every used car has its own value in the market. Even used and repaired cars can fetch some price. If a car ages more than 7 years, insurance companies usually tighten their strings to pay out on diminished value appraisals.
Undeniably, the market value of older or used cars is lower than that of new cars. A used vehicle is appraised at a lower level for its age and repair (if there is any). If you try the legal system, it will add to the cost of recovering diminished value of your car. The total cost may be more than the compensation from the diminished value claim in the legal process. The same is true about older cars in good shape, average condition, and with low mileage.
We at Benchmark Auto Appraisers will help you sell your vehicle at best prices and get maximum diminished value of the vehicle from the insurance agency.