Diminished Value

Diminished value is defined as the selling price differential, in a retail environment, of one vehicle that has been damaged and repaired, as compared to an identical vehicle that has never been damaged. If needed, experts can be hired that provide vehicle equity assesments, diminished value determinations and expert reports for consumers, lenders, insurers and the legal profession. The type of claim often referred to is a Diminished Value claim, sometimes called Dimunition of Value and is a derivative of a common Property Damage claim. Diminished Value effects the amount you can sell your vehicle for and effects the price you should pay for a used car.