Utah Car Owners Seeking Diminished Value Appraisals Are Advised to Read This Case Study
The St. Lucie Appraisal Company provides independent diminished value appraisals for vehicle owners in Salt Lake City and throughout Utah. Our licensed appraisers serve all ZIP codes listed below.
This case study covers The St. Lucie Appraisal Company’s diminished value appraisal of a Chevrolet Colorado Z71 AWD Diesel Crew Cab with 440 miles involved in a rear-end collision that caused $4,005.91 in damage. The truck was not disabled or towed, sustained structural damage, and had no airbag deployment. The claimant filed a third-party inherent auto diminished value claim for the vehicle’s loss in value.
Once a car is repaired after a collision, it is worth less — often much less, depending on the severity of the damage. Regardless of how well the repair was performed, buyers will not pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
Utah Chevrolet Dealership Market Intelligence
We learned from these examples from sales teams at Chevrolet dealerships in Utah: without the structural damage, this would be a very different number. If a vehicle doesn’t suffer any frame damage, the loss is typically no more than 10%–20% of the car’s value — but with frame damage, the loss is significantly larger.
The opinions of unbiased experts form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them to validate the diminished value figure prepared by The St. Lucie Appraisal Company. This reflects what the vehicle owner will experience in the real-world market.
Dealers providing opinions regarding diminished value were given information specific to this vehicle, including year, make, model, mileage, color, options, other pertinent equipment, date of loss, and the nature and manner of the repaired damage. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that the vehicle was properly repaired.
We contacted several Chevrolet dealers in Utah to establish how these repairs and the resulting repair history would impact this vehicle’s Fair Market Value (FMV). Dealers were provided with an evaluation of the vehicle’s condition both prior to and following repairs.
Damage Summary & Results
Description of damage: Non-disabling collision damage to the rear, including damage to structural components and no airbag deployment. Repair cost: $4,005.91. LKQ (used) and/or aftermarket parts were not utilized in the repair and were not factored into the diminished value.
The average of six deductions was 34.58%. This is the percentage of diminished value taken from the vehicle’s FMV at the time of loss.
We established that the above-captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $30,000.00 at the time of loss. The resulting Diminished Value was $10,374.00.
Questions & Answers About This Diminished Value Claim
Why did structural damage push this deduction to 34.58%?
Utah Chevrolet dealers indicated that a vehicle without frame or structural damage typically loses only 10%–20% of its value, while structural damage pushes the loss significantly higher. That’s consistent with the 34.58% average seen in this case.
Why was the diminished value figure so large on a truck with only 440 miles?
A near-new vehicle has the most to lose in percentage terms, since buyers of low-mileage vehicles are especially sensitive to any disclosed accident history, regardless of repair quality.
Who pays for a diminished value claim in Salt Lake City or elsewhere in Utah?
The at-fault driver’s insurance company is generally responsible for compensating the vehicle owner under a third-party inherent diminished value claim.
Is a physical inspection required for this type of claim?
No. Inherent diminished value claims like this one don’t require a physical inspection, since the vehicle has already been properly repaired. The loss stems from the repair history, not a visible defect.
Why does The St. Lucie Appraisal Company use six dealer opinions instead of a formula?
Formulas and algorithms don’t reflect how buyers in a specific local market actually respond to a vehicle’s repair history. Six independent, unbiased dealer opinions give a defensible, real-world figure instead.
What does an Automobile Diminished Value Report cost?
$275.00, payable by credit card or PayPal. Tesla and other exotic vehicle owners should call for rates. Telephone consultations are always free.
Read Customer Reviews of The St. Lucie Appraisal Company
Click on the payment button above to pay by Credit Card or PayPal. The fee for an Automobile Diminished Value Report is $275.00. You may also make your Credit Card payment by telephone, call 772-359-4300.
Before making your secure payment please email the body shop estimate or insurance company appraisal to contact@stlucieappraisal.net
Tesla and other exotic car owners please call for rates.
Diminished Value Appraisals in Salt Lake City, UT
Service Areas Covered (ZIP Codes)
84020, 84095, 84118, 84119, 84120
Utah Professional Auto Appraisal Coverage Areas
Service in Salt Lake City, West Valley City, Provo, West Jordan, Orem, Sandy, Ogden, St. George, Layton, Millcreek, Taylorsville, South Jordan, Lehi, Logan, Murray, Draper, Bountiful and throughout Utah.
Auto appraiser near 84020, 84095, 84118, 84119, 84120, and Salt Lake City.
AutoDiminishedValue.com and TotalLossDispute.com are services of The St. Lucie Appraisal Company.