After a car accident, your car may begin to lose its resale value, even if you decide to get it fixed or repaired. This loss of resale value is known as diminished value. So, how can you obtain a suitable crashed car value and still have your car’s diminished value not affect you so much? It can be difficult, but we have some tips that may prove to be helpful for you. As car owners (and even people who don’t own cars) know that a diminished value on a car does affect you. That crashed car value may be difficult to receive and even live with. Even the state in which you live can play a part in your crashed car value. Check out what you should know.
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What Are Factors That Diminish a Car’s Value?
As a car owner, you certainly know that you will have a crashed car value that may not be what you hope or even make you upset. You may feel cheated by your insurance company. You may even feel as if you are getting scammed out of the true crashed car value of your vehicle, after the accident. But there are factors that do play a vital role in diminishing the value of your car.
Any time that your vehicle sustains any kind of damage damage-whether you were involved in an accident with another car, or you just hit an animal- you automatically have a crashed car value that you have to deal with. Or you can think of it as a diminished value of your car. Now your car has a history of an accident and you have to work to receive a suitable crashed car value payout. Even if you are ablet to restore your crashed car back to a great looking car or its pre-collision or crashed state, you will not be able to recover its pre-accident value. So, what you have before you, is a crashed car value.
What Are The Various Kinds Of Diminished Value That I Should Know About?
Check out the three kinds of diminished value that you should be aware of. Each usher in a crashed car value that you have to deal with, when you want to repair your car, or deal with your car insurance company.
Repair-Related Diminished Vehicle Value – When you speak of a repair-related diminished vehicle value, you are dealing with loss that comes from a substandard repair quality. For example, your car may have been repaired with sub-standard or aftermarket car parts. You may also have a paint job that doesn’t match the original color of the car. In addition to the inherit diminished value of the car, lackluster and botched repairs can further reduce the vehicle’s value. Now you as the car owner, are dealing with a crashed car value that you have to work on alleviating.
Inherent Diminished Value – An inherent diminished value is a value that was already “built -in”. Think of the car “beginning the journey” with a crashed car value. Additionally, an inherent diminished value is the difference in the trade-in or the resale value of the car right after fixes and repairs have been made.
Immediate Diminished Value – The immediate diminished value of a vehicle, is the difference in the trade-in or the resale value of the vehicle, before the collision you had in it- to immediately after the collision, and just before there were any repairs.
Can I Figure My Car’s Diminished Value After The Accident?
Before you create a diminished value, claim and calculate your crashed car value, you want to sit and figure out the current worth of your vehicle. If you have an older car, the crashed car value may not make a lot of sense. But if you do accurate calculations, you can decide for yourself, if you want to place a crashed car value on your car.
What If My Car Insurance Company Denies My Claim?
After careful calculations of your car’s crashed car value, or your car’s diminished value, you present them to your car insurance company denies your claim. Should this happen, you may want to appeal the decision and get your state’s insurance commissioner involved. You may even decide to hire an attorney too. You may find that an attorney or a private company can assist in your crashed car value or diminished value claim. But be sure that you went over all of your calculations with a “fine tooth comb.”
What If I Want To Get my Car Fixed After I Calculate My Crashed Car Value?
Check out what you can do regarding repairs after you have calculated your crashed car value.
If your car is drivable…
Even though you have been in an accident, your car may still be drivable. So, what can you do? Your vehicle insurance company will send a vehicle adjuster out so that he or she can estimate the damage to your vehicle. He or she will then issue you a check to cover the costs of fixes and repairs to the car. Was your car taken to a salvage yard or a repair shop? Then you want to get that car moved as fast as you can, to a reputable repair shop that you and your car insurance company can agree on. Lots of salvage and towing yards charge a daily fee to house your car.
If your car is totaled….
Are you dealing with a crashed car value and you have a totaled car in your midst? Then your car insurance company will evaluate the amount your car could have been sold for pre-accident or before the collision. This value is the fair market value for your car. Your vehicle’s fair market value is based upon the current price of vehicle that is similar to yours, and listed by car value websites and similar entities, as well as dealerships.
If your car is a total loss…
Are you dealing with a car that is a “total loss” and you want to get a suitable crashed car value? You have two options:
- You have the right to accept the total loss value of your car subtracting the salvage or the crashed car value. You then keep your car.
- The second choice you have, is to accept the total loss value of your car in addition to the crashed car value, or the salvage value. If you make this choice, you will have to sign your car title as well as odometer statement (if required in your state) over to your vehicle insurance company. Your car insurance company may also ask you to relinquish your power of attorney so that the vehicle can be disposed of.
I Want To Sell My Damaged Car. What’s the Best Option?
When it comes to figuring your crashed car value, the numbers may not be what you want them to be. So, how can you sell your car without all of the headache and despair that come with selling a crashed car? Sell that car to Cash Cars Buyer!
Turn That Crashed Car Value into Fair Market Value!
When you sell your old vehicle to the experienced car buyers of Cash Cars Buyer, you can feel confident in the fact that you are selling that vehicle to a licensed, bonded and insured company, that prides itself in giving each car seller fair market value for a vehicle! We buy all makes and models too! Whether you have a pickup truck, SUV, crossover, or even an old van, we will buy that car, and offer you the best car selling services ever!
Nationwide Service That Ends At Your Doorstep!
Forget the endless calculations of the crashed car value of your vehicle. Once you sell your car to us, we take care of each aspect of your vehicle, from beginning to end! The cost to you? NOTHING! No, you never have to pay us anything to sell your car to us! We have a nationwide network of experienced junk car buyers, who are ready to buy your car, and treat you with the dignity and respect you deserve! Sure, your car may be junk, but you are the prized car seller that we want to work with!
Selling A Car Has Never Been Easier!
Make this year, the year that you sell that dented, rusted and damaged car fast! Check out how easy it is to sell your car to Cash Cars Buyer!
- Obtain your FREE online offer! Just click here and receive a FREE online offer on your car in a matter of minutes! Just input some information and get a FREE offer on that old car FAST!
- Call us so that we can make you a guaranteed cash offer! One of our friendly associates will provide you with a guaranteed cash offer, right after we ask you some questions about your car and formulate the best offer for you, under the sun!
- Accept your offer, and coordinate a junk car pickup date and time with us! Now that you have accepted our offer, let’s set a date and time for us to come and pick up your car, and then pay you on the spot!
- Get paid! When we come to your home or location, we will get to work appraising your car. Once all is well and checks out, we will pay you right then and there!
You can either calculate your crashed car value and settle for a value on your car, that gets you nowhere. Or, you can sell that car to Cash Cars Buyer, and leave happy and confident. The choice is yours! So, choose Cash Cars Buyer- and let us help you turn that awful car into awesome cash, FAST!