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The simplest way to understand it is to think of it this way:
You are shopping for a good used vehicle. You arrive at a dealership and sitting on the front line are two vehicles that
appear to be exactly alike. They are both priced at $25,000. They are the same year, make, and model. They are the same
color, have exactly the same equipment, and both have exactly the same miles on the odometer. The only difference is that
one of the vehicles has been in a severe accident and then repaired. Because the sales person was honest he told you it had
suffered about $10,000 worth of damage to the frame, suspension, front end, and both doors.
The question is this:
Would you choose the wrecked and repaired vehicle? Of course not! No one would pay the same for a vehicle that has been
in a bad accident. Many people wouldn’t buy it for any price because of possible safety issues should the vehicle been repaired
incorrectly. Modern vehicles have crumple and crush zones to help direct the energy away from the passenger compartment and
fuel tank in the event of a severe accident. If the vehicle wasn’t repaired correctly, and one or more of these crumple zones
are compromised, it will not be as safe in the event it’s again involved in a collision. Unfortunately, the only way to know
if the safety features are intact is to have an accident and see if you survive… and of course… it could be too late by then.
No one wants to subject themselves or their loved ones to this possibility. That is why a severely damaged and then repaired
vehicle will NEVER be worth what the same but never wrecked vehicle is worth.
So, if your vehicle was involved in an
accident, it’s no longer enough for the insurance company to pay to have it repaired. Case law now dictates that you must
be compensated for the loss of value the vehicle suffered as a result of the accident. Auto Valuation Authority calculates
that loss of value and helps you collect that lost amount. So now you know what diminished value is all about!
Call
us today at (602) 943-7771 to find out if your vehicle will qualify, and what the process is to collect the reduction in value
to your vehicle. You have it coming to you, and we will help you through the process. In most cases we are talking about
significant amounts of money. Usually thousands of dollars!
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