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What Does Diminished Value Mean | Phoenix Auto Accidents

David Wattel | 1340 Views | 07/15/2014

Diminished Value in Phoenix

We hold ourselves out as some of the leading attorneys anywhere on diminished value. Diminished value is the depreciation that your vehicle suffers following an accident once your vehicle is properly repaired. It’s not that your vehicle is totaled, but it’s repaired and now has less value in the market place than it did before the accident.

Diminished Value Claims & Appraisers

To pursue a diminished value claim, we hire an appraiser. An appraiser is someone who has the ability to evaluate the value of the vehicle before the accident and the value of the vehicle now. Often times, it may be in the value of (20) twenty, (30) thirty, and even (40) forty percent of the fair market value of your vehicle. Why, because now you can’t sell that vehicle in the open market place. You can’t get a retail value. You try to go trade it in, the dealership knows that it’s been involved in a wreck. As a result, they don’t want to take it in, because they can’t make a profit on it. So, you’re likely only going to get a wholesale value.

Wattel & York

Why do most attorneys not pursue the claims? Because, it doesn’t benefit them. We’re looking out for your best interests, whether it be something as simple as a diminished value claim, or as extensive as a significant injury claim. We’re there to do everything that it takes to get you fully documented on all of your claims.

By: David Wattel

What Does Diminished Value Mean | Phoenix Auto Accidents

Diminished Value in Phoenix

We hold ourselves out as some of the leading attorneys anywhere on diminished value. Diminished value is the depreciation that your vehicle suffers following an accident once your vehicle is properly repaired. It’s not that your vehicle is totaled, but it’s repaired and now has less value in the market place than it did before the accident.

Diminished Value Claims & Appraisers

To pursue a diminished value claim, we hire an appraiser. An appraiser is someone who has the ability to evaluate the value of the vehicle before the accident and the value of the vehicle now. Often times, it may be in the value of (20) twenty, (30) thirty, and even (40) forty percent of the fair market value of your vehicle. Why, because now you can’t sell that vehicle in the open market place. You can’t get a retail value. You try to go trade it in, the dealership knows that it’s been involved in a wreck. As a result, they don’t want to take it in, because they can’t make a profit on it. So, you’re likely only going to get a wholesale value.

Wattel & York

Why do most attorneys not pursue the claims? Because, it doesn’t benefit them. We’re looking out for your best interests, whether it be something as simple as a diminished value claim, or as extensive as a significant injury claim. We’re there to do everything that it takes to get you fully documented on all of your claims.

By: David Wattel