5 Things That Factor into Calculating a Loss of Value Claim
5 Things That Factor into Calculating Diminished Value
These are the five factors that have an effect on the diminished value of a vehicle.The Initial Value of Your Vehicle
To determine the loss of value, you will start with the value of your vehicle before the collision. If you do not have a professional appraisal from before the accident, you can determine this value by consulting Kelley Blue Book to find the fair market value for your vehicle's make, model, year. Then you will reduce the amount to account for depreciation and the overall condition of the vehicle.Mileage of Your Vehicle
A vehicle with high mileage will have wear and tear on the engine from the strain of all the miles. The engine and motor may wear out faster under such strain, accelerating the rate of the vehicle's depreciation.Age of Your Vehicle
Your vehicle automatically begins to lose value after it is purchased. As your vehicle gets older, that rate of depreciation speeds up.Level of Damage Sustained in the Accident
The amount of damage to your vehicle can range from dents and scratches to more serious damage that reduces the strength and integrity of the vehicle.After Repair Appraisal
Scheduling an appraisal with a professional who has experience reporting on the diminished value of a vehicle after a collision will give you evidence that you can provide in court that describes the loss of value and how it resulted from the collision. In West Palm Beach, Florida, Casas Law will help you recover compensation for your losses. Contact Casas Law today and schedule your free case consultation. We cannot wait to help you get the compensation you deserve.
I’d recommend him to anyone!
I was recommended to Alex Casas by my father and I am absolutely ecstatic with how simple and easy he made my auto collision injury case for me he handled everything to where all I had to do was show up and sign on the line! I’d recommend him to anyone!
They are very professional and friendly and go above and beyond the call of duty.
I am very pleased with the assistance from Casas Law P.A and will recommend this firm to anyone and everyone that needs help. They are very professional and friendly and go above and beyond the call of duty. Thank you so much for all your help.
If you are looking for a great law firm and I really mean and great firm this is the place to go!
Alex Casas Law firm is a great. Every time I came in contact with Mr. Casas and his staff they were always professional and friendly. My whole process was a great experience. They always return calls in a timely manner. The staff goes above and beyond what is needed. They kept me informed during the whole process. If you are looking for a great law firm and I really mean and great firm this is the place to go!!!!
They were able to direct me with medical care questions, and advocate on my behalf with insurance companies.
Alex and his team were my rock after I was hit by a car while riding my bike. They were able to direct me with medical care questions, advocate on my behalf with insurance companies, and really listen on days where I had pain and was completely frustrated with my insurance company and their lack of response. Highly recommend!!!!
Alex Casas is by far the most present and engaged attorney with whom I have had the pleasure of working.
Alex Casas is by far the most present and engaged attorney with whom I have had the pleasure of working. The staff is caring and pleasant. The response time is extremely fast. And he is good at winning! Thank you for all you have done for us over the years! I highly recommend Casas Law!
