Diminished Value claim on an older collector car?
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If you have tried to obtain a financing loan on a vehicle, say, 10 or more years old, you may have found that the lending institution won't do so without a current fair market value appraisal. In addition to financing, we provide diminished value and prior-to-total loss appraisals. Call/text 786-853-0711 for more info.
We recently appraised this very nice1986 Porsche 944 Turbo Race Car, and now it is for sale on BringATrailer. https://bringatrailer.com/listing/1986-porsche-944-turbo-174 We wish the seller the best of luck, and sincerely hope the BAT market will exceed our valuation. In fairness to all, we are not divulging our number, but bid high and bid often! Good luck to all!
Can you make a Diminished Value claim on an older collector car? As attorneys are known to say "it depends!" Generally, when a car is fully depreciated, the likelihood of a Diminished Value Claim is slim. Collectors cars may be fully depreciated, and then their value starts to rise. Think 1970's air-cooled Porsches! Is this 1960 Jaguar XK150S DHC a candidate?
Google 'diminished value car' and there's lots to learn! Here's one explanation: 'After an accident, your car’s market value will decrease even if it goes through all of the necessary procedures to restore it back to its prior condition. Diminished value is the difference in your car’s market value before and after an accident. Even if you try to resell your vehicle, the history will show that it has been involved in an accident, which will bring its value down. A diminished value claim can help recover the costs to bring your vehicle back to the market price before an accident.' Need a Diminished Value Auto Appraisal? We can help!
Your late model Mustang was rear-ended and has an almost $14k repair bill! Now what? With a Diminished Value auto appraisal, the owner of this Mustang was able to make a claim of over $6k for the loss of value to his vehicle. Don't let the insurance company delay, deny of underpay your claim! Repaired or totaled, get an appraisal!
Thinking of buying a previously owned Porsche in South Florida? Miami, Fort Lauderdale or Palm Beach? Protect your investment! Get it inspected, and its accurate current Fair Market Value determined in our 25+ page/40+ photograph report. Call/text 786-853-0711 for details
Or, to paraphrase: "How long is a piece of string?" As attorneys are know to say, "it depends." Diminished Value is determined by the number of labor hours, structural and non-structural assemblies repaired of replaced and several other factors. Because the replacement parts on high end luxury vehicles are expensive, the Diminished Value may be significantly higher. Have you have been in an accident through no fault of your own? You may be entitled to make a Diminished Value claim. We can help!
Remember the old line - "If something sounds too good to be true, it usually is!" Twice this month we've done pre-purchase inspections on 'deals' for out of state buyers. Upon arrival at the '07 Mercedes, we took one look, called the customer and said "you really don't want an appraisal! Walk away!" The second, a '14 Jaguar XKR was actually pretty good, but had been in an accident and thus suffered Diminished Value somewhere in the $3,000-7,000 range. Nice car, yes! Deal, no! Protect your investment! Get it appraised!
Through no fault of the owner, this 2015 Jaguar F-Type was involved in a serious collision requiring over $11,000 in repairs. As a result, it has now suffered 'Diminished Value.' An appraisal determined that the amount of Diminished Value is $4,750, which the owner may now claim against the insurance of the at-fault driver. Whether your accident vehicle has been 'totaled' or repaired, an auto appraisal will help you settle for more $$$$
How to Prove Your Diminished Value Claim: Florida is a diminished value state, which means you may be entitled to the diminished value of your vehicle after an auto accident. Under Florida law, a vehicle owner can pursue a claim for diminution from the negligent party who caused the accident, typically by filing directly with their insurance company. Diminished Value (“DV”) is the loss in market value that occurs when a vehicle is wrecked and repaired. To file a diminished value car insurance claim, you must provide clear proof of the diminution and its dollar value. The best way to do this is with a Diminished Value Auto Appraisal. We’ll walk you through every step. Call/text 786-853-0711.