How to Calculate the Diminished Value of Your Car | YourMechanic Advice
A diminished value claim compensates a driver for the drop in a car's resale value after an accident. If you've been in a car accident, your car is now worth less than it was before the damage. Even repaired, the car is now considered to have an accident history. This makes its resale value lower in the eyes of buyers. The diminished value is the amount your car has depreciated in market value because of the fact that it has been in an accident.
If your car is in an accident, its value goes down regardless of how well you are able to repair it. This is called diminished value. Is it easy filing a diminished value claim, and will you recover all of your money? Find out more.
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