The claimant hired St. Lucie Appraisal and 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.
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 ALWAYS FREE-OF-CHARGE
Real-World Dealer Feedback from Western Pennsylvania Toyota Dealers
We learned from these examples from sales professionals at Toyota dealerships in Western Pennsylvania: one dealer said there are so many variables involved that need to be taken into consideration, and that he has seen most cars with structural damage lose about 40%–50% in trade value. Another dealer explained that the vehicle would have to go to auction, meaning it would bring roughly 50% less in trade.
The opinions of six unbiased professional sales representatives at recognized Toyota dealerships form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain multiple independent dealer quotes to validate the diminished value report prepared by stlucieappraisal.net. This reflects what the vehicle owner will experience in the real-world market.
Appraisal Methodology
The six dealers providing opinions regarding diminished value were given information specific to this vehicle, including year, make, model, mileage, pre-accident condition, 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 Toyota dealers in Western Pennsylvania 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.
Description of damage: Non-disabling collision damage to the right side, with damage to structural components and no airbag deployment. Repair cost: $6,244.94. LKQ (used) and/or aftermarket parts were utilized in the repair and not factored into the diminished value.
Appraisal Results
The average of six deductions was 42.50%. 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 $22,500.00 at the time of loss. The resulting Diminished Value was $9,562.50.
Questions & Answers About This Diminished Value Claim
Why was the diminished value deduction on this RAV4 so high, at 42.50%?
The collision caused structural damage, which is one of the factors dealers weigh most heavily. Western Pennsylvania Toyota dealers indicated a vehicle with structural damage would typically lose 40%–50% in trade value, or need to go to auction, which is consistent with the result here.
Why does structural damage matter more than the total repair cost?
Even a moderate repair cost, like $6,244.94 here, can still involve structural components. Dealers focus heavily on whether the vehicle’s structure was affected, since that’s a major factor buyers and dealers consider when evaluating a repaired vehicle.
Who pays for a diminished value claim in Pittsburgh or elsewhere in Pennsylvania?
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 St. Lucie Appraisal 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.
Click 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 Area
Service in Philadelphia, Pittsburgh, Allentown, Erie, Reading, Upper Darby Township, Scranton, Bethlehem, Bensalem, Lancaster, Lower Merion, Abington Township, Bristol, Millcreek, Harrisburg, Altoona, York, Stroudsburg, Wilkes-Barre and throughout Pennsylvania.
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