Diminished Value Claims in Utah

What is Diminished Value?

Depending on age and condition, a car that has been in an accident has less resale value than the same vehicle in pre-crash condition. Even if the repairs meet the highest quality standards, potential buyers are unwilling to pay as much for a car they know has been previously damaged.

This difference between what the pre-accident vehicle is worth and the market value of the post-repair vehicle is known as Diminished Value. Essentially, after a crash, your vehicle’s market value will decrease even after it has been repaired. Carfax and similar reports show when a vehicle has been involved in an accident and what was repaired. That is all it takes to dramatically reduce your car's value. A diminished value claim can help recover the loss you have suffered after a crash.

A Car Accident Occurs

Car accidents come with all kinds of repercussions, one of which is the decreased value of your vehicle, especially when the crash wasn't your fault.

The Car's Value Decreases

When you try to sell your vehicle after an accident, you likely won't get the full value of the care because of the Diminished Value.

File a Diminished Value Claim

This is where we can help. Although there is no guarantee of a certain monetary settlement, we have the experience necessary to help you recover the Diminished Value of your vehicle.

Inherent Diminished Value

This is the most common and accepted form of auto crash related diminished value claims. Inherent

diminished value occurs when a vehicle loses value because it now has a history of damage, which is

indicated in the car’s history reports. This type of diminished value assumes that the vehicle’s repairs

were of optimal quality and represents the amount the vehicle’s worth will decrease based on the

accident history.

Consequential Diminished Value

This type of vehicle diminished value represents the difference in resale value immediately after an accident and before the vehicle is repaired. Typically, this is the market value of the damaged vehicle before any repairs are completed. However, because most insurance companies will require you to repair a damaged immediately after an accident, this type of diminished value is rarely used when filing a diminished value claim.

Repair-Related Diminished Value

This refers to the loss of the vehicle’s value based on low-quality repairs performed after a crash. For

example, if the paint is repaired with a color that is not an exact match or if aftermarket parts are used

in place of original equipment manufacturers (OEM) parts, the quality of the repair leaves a loss in the

value beyond the inherent diminished value of the vehicle that was properly repaired.