Diminished Value is the drop in the resale price of a vehicle caused by an accident. Buyers will always prefer an undamaged car over the one that has been in an accident previously. Saying this in another way, a damaged and repaired car will always get less money in the open marketplace than an undamaged car.
By law, the party due to whom negligence the accident take places, is accountable to pay compensation for all direct as well as indirect losses. This is a general right and applicable in all each Jurisdiction and countries.
So what is diminished value appraisals about? To get compensated for the losses in the diminished value of your vehicle, you have to submit a demand letter along with an appraisal report to the other party at fault requesting rapid and just compensation for your loss.
When Should You Take Our Services?
You surely required getting diminished value appraisals services from a reputable firm since an appraiser can help you in the following situations; (more…)