What is Diminished Value?

Diminished value is the reduction in your vehicle's market value occurring after your vehicle is damaged and then repaired, otherwise called accelerated depreciation. A reasonable person will not pay the same price for your wrecked and repaired vehicle as they will for a vehicle that has not been wrecked.

A diminished value appraisal evaluates the difference in value of your motor vehicle after a collision repair. Auto Appraisal Network compiles these reports. This report is used when filing or disputing a diminished value claim with your insurance company.

Some reports include an assessment of the damage done to a motor vehicle, the quality of repairs, and the market value of the vehicle before and after the accident.  As there are no set rules for measuring diminished value, and since every vehicle loses value differently a one size fits all formula would be fundamentally inaccurate, and it is therefore important to have this done by a certified auto appraisal company.

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To learn how to make a claim contact us at: call/text 786-853-0711 or johnl@autoappraisalnetwork.com

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How much is Diminished Value on a Rolls Royce Cullinan? How much is Diminished Value on a Rolls Royce Cullinan?

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!

Buying online: Buying online: "It sounds like a great deal!"

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!

What's the Diminished Value on a $42k Jaguar F-Type with $11k damage? What's the Diminished Value on a $42k Jaguar F-Type with $11k damage?

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 $$$$

Diminished Value Claim in Florida Diminished Value Claim in Florida

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.

Tesla Total Loss Tesla Total Loss

After being hit by a tow truck whose driver admitted to texting and driving, then dealing with the insurance company and feeling he was being short changed thru the whole process - a $36,187 settlement offer, Luis contacted Auto Appraisal Network for a Prior-to-Loss Fair Market Value Appraisal. Result? $41,705 settlement. That's $5,518 more! If your insurance company is delaying, denying or underpaying, call/text 786-853-0711

Diane's Cadillac Total Loss Story Diane's Cadillac Total Loss Story

This is Diane's 2015 Cadillac SRX.  Diane's Cadillac was in an accident and was Total Loss. The insurance company offered her $17,471.  Diane hired Auto Appraisal Network to do a Prior-to-loss Fair market Value appraisal. As a result, the insurance company settled with Diane for $20,650.  Read Diane's comments on our Facebook Reviews page. If your vehicle was declared a Total Loss and the insurance company is  delaying, denying or underpaying, contact us today.

Appraisals and Blood Donations during COVID-19 Appraisals and Blood Donations during COVID-19

During this time of COVID-19, not only are we continuing to do Pre-Purchase Inspections, Total Loss, Diminished Value and Insurance Coverage appraisals in South Florida, but we are also donating blood for those in need. My parents lived through the London Blitz of 1940 and 1941. We will get through this! Stay safe and continue to practice social distancing.

Wrecked car appraisal in Florida Wrecked car appraisal in Florida

Has your vehicle been in a wreck in South Florida? If the cost to repair is less than 80% of the vehicle's value, it is repaired and your vehicle had suffered Diminished Value. No matter how professional the repair, it's worth less than an identical vehicle with no accident history. If the repair cost is >80% of the value, it is declared a Total Loss. Either way, with an appraisal, we help you make a Diminished Value or Prior-to-Total Loss Fair Market Value claim with the insurance company to receive more $$$$.

Financing older and rebuilt title cars in Florida Financing older and rebuilt title cars in Florida

When buying an older car, or one with a rebuilt or 'branded' title, most financing companies will request an independent Fair Market Value appraisal of the vehicle before approving your loan. Recently we've appraised two newer sports coupes with rebuilt titles in South Florida, a 2016 Jaguar F-Type and a 2018 Nissan GTR, and both loans were approved!

Chevy Tahoe: Total Loss or Diminished Value? Chevy Tahoe: Total Loss or Diminished Value?

You take your Chevy Tahoe for a quick oil change and then you get the phone call! Is it totaled? Let's say your Tahoe is worth $28,000. In Florida, if the insurance company believes the cost to repair is close to 80%, or about $22,000, it's declared a Total Loss. But wait, there's more.....

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What is Diminished Value?