A car that has been in an accident is obviously no longer worth what it was before the accident. When it’s your custom or classic vehicle that has been damaged, you’ve lost a lot of your initial investment into it. The time and money you spent modifying and restoring it are gone. However, you can still recoup some of your loss when you get an appraisal to learn the best car diminished value Seattle can offer.
When your car is damaged in an accident but the accident was not your fault, you can file a claim with the at-fault party’s insurance for diminished value. This is the difference between what your vehicle could have been sold for in it its original condition and what it is worth after the damage occurs.
To file a diminished value claim, you need to have an appraisal on your vehicle done. The appraiser will take stock of the vehicle’s condition and note any repair work that has been completed on it. Using the information on comparable sales from their extensive database, the appraiser will determine the original and the current values of the vehicle. You can then make a claim with the at-fault party’s insurance company for the difference between the two figures.
If you are considering buying a vehicle, getting an appraisal done is also a good idea to determine if it has been in any accidents. If it has, you may be able to negotiate a lower price with the seller. Additionally, an appraisal will uncover any issues that might not be readily apparent, and you can make a better decision about whether to purchase the vehicle or not based on that information.
If you are thinking about selling your vehicle after it has been in an accident, getting an appraisal done is also important so that you know the current value. You don’t want to try to sell it for more than it’s worth. An appraisal can also be a sign of goodwill to potential buyers in that you share with them everything that you know is wrong with the vehicle through that document.
When the appraisal is done, the appraiser will take dozens of photographs to document their findings and make detailed notes. They will then determine a market value for the vehicle based on their findings and the database of comparable sales. The report will be sent to you electronically, and you will also receive a hard-bound copy for your reference.
No matter the reasons you want to get an appraisal for diminished value, look no further than our appraisers for the best car diminished value Seattle can provide.