What Diminished Value Means For You
Diminished value is a very important part of car appraisals, evaluations and pre purchase inspections. At Avila Auto Appraisals, we specialize in diminished value, taking it very seriously, since it is the leading reason of car value depreciation. When your car has suffered an accident, it is important to get a diminished value assessment both before and after repairs are made. This ensures that your car value is fairly recorded in case of lawsuits, faulty repairs and insurance purposes.
Understanding Diminished Value
- There are three types of diminished value that Avila Auto Appraisal can help you determine:
- • Immediate Diminished Value
- • Inherent Diminished Value
- • Repair Related Diminished Value
Immediate Diminished Value refers to the difference in resale price before a car has sustained any damage. This is the value typically used to offset any insurance or lawsuit claims after an accident has occurred.
Inherent Diminished Value refers to the value of the vehicle after repairs have been made. This type of diminished value typically assumes that the repairs done to the vehicle are done at the utmost professional standard.
Repair Related Diminished Value refers to the value of the vehicle after less than standard repairs have rendered more damage to the car. This type of diminished value is used in sales transactions because less than optimal repairs diminish the car’s value even more.
Specializing In Diminished Value Assessments
At Avila Auto Appraisal, we know the importance of an accurate diminished value assessment. That is why all our diminished value assessments are always performed to industry standards, as well as providing expert witness services when needed. To learn more about our diminished value services, contact us today.