Diminished Value Appraisal in Huntsville & Alabama
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 repairer did the job, nobody will 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.
Hyundai Tucson SEL Wagon Diminished Value Case Study – Huntsville, Alabama
This article details the diminished value appraisal of a low-mileage Hyundai Tucson SEL Wagon with only 4,420 miles that was involved in a rear-end collision in Huntsville, Alabama causing $3,512.70 in damage. The vehicle was not disabled/towed, had no structural damage, and no airbag deployment.
The claimant hired an independent auto appraiser and filed a third-party inherent auto diminished value claim for the vehicle’s loss in value.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
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Real-World Hyundai Dealer Feedback in Alabama
We consulted sales managers at Hyundai dealerships in Alabama. Their market insights included:
- One dealer estimated the loss from this incident at approximately $2,500.00.
- Another dealer, after reviewing the VIN, projected a trade-in reduction between $2,500 – $3,500.
The unbiased opinions of six professional sales managers at Hyundai dealerships form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain these quotes to validate the diminished value report prepared by stlucieappraisal.net/. This is what the car owner will realistically experience in the Alabama market.
Appraisal Methodology
The six dealers were given detailed vehicle information including year, make, model, mileage, pre-accident condition, color, options, date of loss, and full repair details. All dealers were advised the vehicle was properly repaired.
We contacted several Hyundai dealers in Alabama to determine how the repairs and accident history would impact this vehicle’s Fair Market Value (FMV).
Damage Summary
Description of damage: Non-disabling rear collision with no structural damage and no airbag deployment. Repair cost: $3,512.70. No LKQ (used) or aftermarket parts were utilized.
Diminished Value Results
Average of Six Dealer Deductions: 11.30%
Pre-Loss Fair Market Value (Average Trade-In): $22,500.00
Calculated Diminished Value: $2,542.50
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Service Areas in Alabama
Service in: Alabaster, Auburn, Birmingham, Decatur, Dothan, Enterprise, Florence, Gadsden, Hoover, Huntsville, Madison, Montgomery, Tuscaloosa and throughout Alabama.
Counties Served: Autauga, Baldwin, Barbour, Bibb, Blount, Bullock, Butler, Calhoun, Chambers, Cherokee, Chilton, Choctaw, Clarke, Clay, Cleburne, Coffee, Colbert, Conecuh, Coosa, Covington, Crenshaw, Cullman, Dale, Dallas, DeKalb, Elmore, Escambia, Etowah, Fayette, Franklin, Geneva, Greene, Hale, Henry, Houston, Jackson, Jefferson, Lamar, Lauderdale, Lawrence, Lee, Limestone, Lowndes, Macon, Madison, Marengo, Marion, Marshall, Mobile, Monroe, Montgomery, Morgan, Perry, Pickens, Pike, Randolph, Russell, Saint Clair, Shelby, Sumter, Talladega, Tallapoosa, Tuscaloosa, Walker, Washington, Wilcox, Winston and all additional counties.
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