Consumers' Auto Detective
Specializing in Assisting the CONSUMER
What is Diminished Value?
Diminished Value (DV) is the amount of money you have lost due to your vehicle having been involved in a collision.
The principle is so basic that it is specified within the jury instructions as a specific line item of damages within the verdict form when returning a verdict.
The difference between the fair market value of the property immediately before the occurrence and its fair market value after the property is repaired...
If you were looking to buy a used car would you prefer to buy one that had never been wrecked?
And if it had been wrecked..
... would you pay as much
for the repaired vehicle?... as one that ...
had never been damaged?
The perception that collision damage causes a vehicle a loss in value is called
INHERENT DIMINISHED VALUE
How much less would you want to pay for a vehicle that had repairs performed for:
$1,000 of repairs?
$2,500 of repairs?
$5,000 of repair?
$10,000 of repairs?
$15,000 of repairs?
$20,000 of repairs?
The perception is a reality. Given the choice, who would prefer to buy a previously damaged used car over one that had never been damaged?
Additionally, poor quality USED or IMITATION parts as well as poor repairs may increase your vehicle's lost value
Consumers' Auto Detective can inspect and determine the total amount of $$$ of Diminished Value owed to YOU!!!
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The information contained is for the general public and does not constitute legal advice. Please consult an attorney licensed in your jurisdiction for legal questions or issues. Referrals to other sources of assistance does not constitute an endorsement.