A Chevrolet Corvette 2LT Grand Sport Coupe with 18,156 miles was involved in a rear collision in Oklahoma County, Oklahoma that caused $2,141.97 in damage. The vehicle was not disabled or towed, and the appraisal confirmed no structural damage and no air bag deployment. After the owner filed a third-party inherent auto diminished value claim, The St. Lucie Appraisal Company was retained to determine how much value the Corvette lost simply by having a collision on its history — even though it was properly repaired. The result: an average diminished value deduction of 13.85%, or $9,002.50 off the vehicle’s pre-loss Fair Market Value of approximately $65,000.00.
How the Diminished Value Was Determined
To reach that figure, St. Lucie Appraisal contacted six Chevrolet dealerships across Oklahoma and asked their sales professionals to weigh in on the vehicle’s specific repair history. Each dealership was given the same case file: year, make, model, mileage, pre-accident condition, color, factory options, date of loss, the nature of the repaired damage, and how the repairs were carried out. Dealers were told the vehicle had been properly repaired and were asked to base their opinions on personal knowledge of the Chevrolet market and access to auction results. The estimates were close. One sales representative said there’s no fixed discount formula, but put the loss at around a 10% hit in value. Another said that even with a proper repair, the vehicle’s history would cost the owner — landing at roughly 10% once everything was factored in. Averaged across all six dealerships, the opinions of six unbiased professional sales representatives at recognized Chevrolet dealerships produced the 13.85% figure used in this appraisal. These opinions reflect what actual Chevrolet dealerships indicated they would deduct from the vehicle’s trade-in value after reviewing its repair history. No LKQ (used) or aftermarket parts were used in the repair, so none were factored into the diminished value calculation — a detail that matters, since aftermarket parts can sometimes deepen a diminished value deduction beyond what collision history alone would cause.
Why Repaired Vehicles Lose Value
This case illustrates a pattern St. Lucie Appraisal sees consistently: once a car has been in a collision and repaired, buyers generally pay less for it than they would for an identical vehicle with a clean history — regardless of how well the repair was performed. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person, which is why a comprehensive, independently prepared Diminished Value Report is central to a successful claim. As part of this appraisal, The St. Lucie Appraisal Company contacted Chevrolet dealerships serving Oklahoma and neighboring markets to determine how this specific repaired vehicle would be valued in the wholesale marketplace, comparing its condition before and after the collision. Description of damage: Non-disabling collision damage to the rear, with no damage to structural components and no air bag deployment. Repair cost: $2,141.97.
Questions & Answers About Automobile Diminished Value
What is diminished value?
Diminished value is the difference between what a vehicle was worth before an accident and what it’s worth after being repaired. Even a flawless repair typically doesn’t restore a car to its pre-accident market value, because the collision now shows up in its history.
Does a diminished value claim apply if the vehicle wasn’t disabled or towed?
Yes. As this case shows, a vehicle can be driven from the scene, have no structural damage, and have no air bag deployment, and still carry a measurable diminished value — in this case, 13.85% of Fair Market Value — because dealers and buyers still factor in the repair history itself.
How is diminished value calculated in an appraisal like this one?
St. Lucie Appraisal doesn’t use formulas or online valuation shortcuts. Instead, appraisers gather independent opinions from multiple dealerships familiar with the vehicle’s make and local market, then average those figures to arrive at a supportable number.
Does using aftermarket or LKQ parts in a repair affect diminished value?
It can. In this case, no aftermarket or LKQ parts were used, so that factor wasn’t part of the deduction. Repairs involving non-OEM parts are sometimes viewed less favorably by dealers, which can increase the diminished value estimate.
What does a Diminished Value Report from St. Lucie Appraisal cost, and how do I order one?
An Automobile Diminished Value Report is $275.00. You can pay by credit card or PayPal using the payment button below, or by calling 772-359-4300. Before making your payment, email the body shop estimate or insurance company appraisal to contact@stlucieappraisal.net.
I drive a Tesla or another exotic vehicle — does this process still apply?
The general approach is similar, but rates differ. Tesla and other exotic car owners should call for specific rates.
Is this only for Oklahoma vehicles?
This case was based in Oklahoma County, Oklahoma, and St. Lucie Appraisal serves Oklahoma City, Tulsa, Norman, Broken Arrow, Lawton, Edmond, Moore, Midwest City, Enid, Stillwater, Muskogee, Bartlesville, Owasso, Shawnee, and the rest of Oklahoma.
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.
Service in Oklahoma City, Tulsa, Norman, Broken Arrow, Lawton, Edmond, Moore, Midwest City, Enid, Stillwater, Muskogee, Bartlesville, Owasso, Shawnee and throughout Oklahoma Adair, Alfalfa, Atoka, Beaver, Beckham, Blaine, Bryan, Caddo, Canadian, Carter, Cherokee, Choctaw, Cimarron, Cleveland, Coal, Comanche, Cotton, Craig, Creek, Custer, Delaware, Dewey, Ellis, Garfield, Garvin, Grady, Grant, Greer, Harmon, Harper, Haskell, Hughes, Jackson, Jefferson, Johnston, Kay, Kingfisher, Kiowa, Latimer, Le Flore, Lincoln, Logan, Love, McClain, McCurtain, McIntosh, Major, Marshall, Mayes, Murray, Muskogee, Noble, Nowata, Okfuskee, Oklahoma, Okmulgee, Osage, Ottawa, Pawnee, Payne, Pittsburg, Pontotoc, Pottawatomie, Pushmataha, Roger Mills, Rogers, Seminole, Sequoyah, Stephens, Texas, Tillman, Tulsa, Wagoner, Washington, Washita, Woods and Woodward Counties
This is an Open Education Resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.
OKLAHOMADIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company.