Why would you want to pay full price for a car that has suffered damage in an accident? There isn’t a reason. It doesn’t make sense. If you buy a car, you want to pay what it’s worth. Any buyer would.
Now, think of the situation from the point of view of the seller. As a seller, you don’t want to sell a car and have it be worth less money because it has been in an accident. If the accident wasn’t your fault, there is something you can do about it.
Have you heard of car accident claims Medford Oregon?
When a car is worth less money just because of an accident, it is called diminished value. You can claim diminished value with the insurance policy of the person who is at fault. This can help you recoup the money you would lose if you were to sell your car.
Your future car buyers can run a report through CarFax or have the car examined by a mechanic to see whether it has repaired damage. That is easily seen by looking beneath the car. By law, you have to tell potential buyers of accident damage if they ask about it.
How do you know what will affect your car’s diminished value?
When you look at car accident claims Medford Oregon, the value of the car before the accident and how bad the damage was as laid out in the invoice for final repair are two factors that help determine diminished value. Additionally, damage to the unibody or frame and the number of panel replacements or fixes can also affect diminished value. Really, the best way to figure out how much value a vehicle lost is through a market analysis and examining how bad the damage was that the accident caused.
To do that, it’s a good idea to call a local vehicle appraiser for car accident claims Medford Oregon who can determine the diminished value. You can then make a claim with the insurance company of the individual who caused the damage. If you sell the vehicle, you then won’t be out the money that should have been yours if the car was in perfect condition. An appraiser is trained to assess the vehicle carefully based on extensive market knowledge and a thorough understanding of the car’s value before the damage occurred.