GMC Denali AWD Crew Cab Diminished Value Appraisal in Alabama
We are one of the most trusted auto diminished value appraisal companies in the country. Our company validates diminished value research by speaking with sales managers at six GMC dealerships in Alabama, helping support expert opinions with probative evidence for insurance claims and court cases.
Each week we report on the most interesting and informative articles concerning auto diminished value claims. This article reviews the diminished value appraisal of a GMC Denali AWD Crew Cab with 8,095 miles that was involved in a front and rear collision causing $23,494.71 in damage.
The vehicle was disabled and towed, had structural damage, and no air bag deployment. The claimant hired an independent auto appraiser and made 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 completed, a previously wrecked vehicle will almost always bring less than an identical vehicle with no accident history. Presenting a diminished value claim and following it through to a satisfactory conclusion can be daunting for the average person. A comprehensive Diminished Value Report is key.
WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ARE ALWAYS FREE OF CHARGE
Why Dealer Opinions Matter
We learned from examples provided by sales managers at GMC dealerships in Alabama that frame damage listed on a Carfax can create a substantial market penalty. In many cases, large dealerships may discount the vehicle by 30% to 50%, especially when the damage history is significant. Dealers also noted that frame damage often pushes a vehicle toward auction rather than retail, which supports a lower trade-in value.
The opinions of unbiased experts form the basis for the most comprehensive auto diminished value appraisal available. We obtain six dealer opinions, which puts the diminished value figure prepared by The St. Lucie Appraisal Company in the real-world market range. This is what the car owner will actually experience.
Dealer opinions were based on information specific to this vehicle, including year, make, model, mileage, color, options, equipment, date of loss, the nature of the repaired damages, and the manner in which the vehicle was repaired. Dealers were advised that the vehicle was properly repaired.
Alabama Diminished Value Claim
We contacted several GMC dealers in Alabama to determine how the repairs and resulting repair history would affect this vehicle’s Fair Market Value (FMV). Dealers were provided with an evaluation of the vehicle’s condition both before and after repairs.
Description of damage: Disabling collision damage to the front and rear, including damage to structural components and no air bag deployment. Repair cost: $23,494.71. LKQ (used) and/or aftermarket parts were utilized in the repair and were not factored into the diminished value.
The average of six deductions was 33.33%. This is the percentage of diminished value to be taken from the FMV at the time of loss.
We established that the above-captioned vehicle had a Fair Market Value of approximately $50,000.00 at the time of loss. The diminished value was $16,665.00.
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Service Areas in Alabama
Service throughout Alabama including Anniston, Athens, Auburn, Bessemer, Birmingham, Decatur, Dothan, Enterprise, Florence, Gadsden, Hoover, Huntsville, Madison, Mobile, Montgomery, Opelika, Phenix City, Prattville, Tuscaloosa, and Vestavia Hills.
Counties served include 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, and Winston.
This auto appraisal was in the vicinity of 36109, 36116, and 36117.
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