Inherent Diminished Value Report

Why is Inherent Diminished Value important?

Obtaining a diminished value report is important because the perceived value a vehicle has prior to and post collision are two different and unique values. Even if a vehicle hasn’t suffered major damages, the knowledge and skilled eye of a prospective buyer will always devalue a vehicle compared to an unaltered automobile that was not compromised and still remains intact the way the factory produced it.

A party buying a vehicle will never opt to pay the same amount of money if they have a selection of two vehicles of similar year, make, model and miles but one was in a previous accident and the other was never impacted. The accident vehicle will most always be sold at a discount because of its inherent diminished value.

Today’s technology allows for most all buyers to research a vehicle’s history with such companies as Car-fax and Auto-check defining exact dates, history and other pertinent information that can harmfully stigmatize a vehicle’s resale value with a simple comment regarding a prior collision. Most dealer’s today are making their clients sign-off the auto history reports insuring they are not penalized in the future for selling these blemished vehicles.

That’s why getting a real diminished value auto appraisal is essential in knowing how much this history will reduce the price of your car. Learn how to understand why your vehicle will not bring the same money in a potential sale than if it was never in a previous collision. We can take you through our step by step process of what your vehicle’s worth was prior to and immediately after its loss.

Mechanic working on a gray ferrari prior to diminished value appraisal

Repair Related Diminished Value

This term is used for vehicles that have had less than standard repairs in all forms; minor, major, points that are now known in the auction arena as “sub-standard” repairs. This devalues the repaired vehicle and is in addition to any other loss in value it has suffered. Repair related diminished value is usually dealt with in the automotive repair facility.

The shop performing the inferior work must make good on the improper repairs within a time frame. Getting an inspection post repair is a good way to identify improper work such as; miss aligned panels, orange peel, sand paper marks, paint swirls, mismatched paint work, over-spray and many other indications of poor substandard work is where having a trained professional is essential in getting the quality you deserve in a post collision repair.

Vehicles with prior accidents and a qualified appraiser who understands the type of car, the points of sale, the major sales outlets, specific tools used in assessing the damage, extent of damage, type of damage related to the potential sale and other specifics its is possible to receive diminished value on prior accident vehicles.

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