Protecting Your Vehicle’s Worth After a Crash
Accidents are an unfortunate reality of life, and even if your vehicle is repaired to “like-new” condition, it often suffered a loss in value. This is known as diminished value—the decrease in a car’s market worth after an accident, even if repairs are expertly done.
Many buyers hesitate to purchase a vehicle with an accident history, and reports like Carfax, AutoCheck, and WreckCheck will permanently reflect the incident. Additionally, state disclosure laws require sellers to inform potential buyers of a car’s accident history, further lowering its resale or trade-in value. If the accident wasn’t your fault, you may be entitled to compensation for this loss.
What is Inherent Diminished Value
The most common type of diminished value is inherent diminished value, which refers to a vehicle’s lost worth simply because it has a recorded accident. Even with top-tier repairs, the stigma of an accident affects resale value. This is where our law firm comes in. We help clients pursue compensation for their vehicle’s diminished value, ensuring they don’t suffer unnecessary financial losses when selling or trading it in. It is critical however to start the claims process as soon as possible, as delays can make it more difficult to secure a successful outcome.
Who Qualifies for a Diminished Value Claim?
Please note that we cannot take on every case. We typically focus on those that meet the following criteria: the vehicle is five years old or newer, the damage exceeds $4,000 and it is is not leased and has no prior accident claims. Do note that higher-end models, trucks, RVs, exotic and/or collector cars, have even higher diminished value claims. If you have any questions about whether your case meets our criteria, feel free to contact us.
Let us handle the process – Risk Free!
Navigating the diminished value claims process can be complex, but our experienced legal team is here to make it easier. Operating on a No-Risk Policy—there are no upfront fees or costs. We only get paid if there is a settlement for you. If you believe your vehicle has suffered diminished value after an accident, contact us today. Let Evan and his team fight for the compensation that you deserve!
