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DIMINISHED VALUE IN NEW CARS

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St. Lucie Appraisal, automobile, personal property, diminished value, appraiser

IS THERE SUCH A THING AS DIMINISHED VALUE IN NEW CARS?

New cars at dealerships can get damaged in various ways that aren’t the fault of the dealer. These include customer mishaps in the lot, damages caused by car carriers and, of course, the inevitable accidents that customers get into with their loaners. After repairs are completed, the automobile or truck goes back into the new car inventory. But these vehicles are different in that they have been devalued by the repair history, sometimes by tens of thousands of dollars. New car buyers that would even consider buying them will be looking for deep discounts. Can the dealerships recoup this loss in their bottom line? The answer is yes, if the damages to the vehicle were caused by someone else’s negligence. It is known as Automobile Diminished Value and the insurance companies of responsible parties – the rubbernecking customer, the trucker from hell or the careless loaner driver – are on the hook for it in every state. Diminished Value is not a claim that only pertains to used cars. New cars are also subject to diminished value and The St. Lucie Appraisal Company is pleased to be providing Automobile Diminished Value Reports to new car dealerships in all 50 states.

DIMINISHED VALUE IN NEW CARS – SOME ANSWERS
Q: As a new car dealer seeking a diminished value appraisal from your company, what information do I need to provide in order to get started?

A: At the bottom of the page you will find a blue rectangular box in which reads “Request an Automobile Damage Report.” Click on it to make a $275.00 payment to The St. Lucie Appraisal Company then email both a completed repair estimate and the new car sticker to contact@autodiminishedvalue.com

CAR OWNER RECEIVES RECORD $60,000.00 AUTO DIMINISHED VALUE SETTLEMENT
Q: Once we receive your report and forward it to the adjuster handling our claim, what type of response can we expect from the insurance company?

A: Our reports are based on the unbiased opinions of six General Sales Managers at recognized new car dealerships. Unlike appraisals based on formulas or appraisers’ expert opinions, ours are very difficult to dispute.

Q: How much value per car or truck should our dealership expect to lose as a result of new cars now having prior repair histories?

A: Unlike some of the unfortunate private passenger car and truck owners whose vehicles lose significant value, especially when frame repairs or air bag deployments were noted, most new cars aren’t usually wrecked too badly. There are, of course exceptions to the rule. A new Corvette Z07 Coupe which got pinballed around the dealer lot by a customer’s car lost 37.08% of its value, or $39,814.65, after undergoing $44,000.00 in repairs that included structural components. A new Kia Soul! lost 43.75% of its value after similar circumstances occurred. Most new cars with Carfaxes showing minor repairs typically lose only 10% to 20% in value. It is the dealer’s choice whether to recover it or not. The general manager of an automotive dealership has a high level of accountability. They are chiefly responsible for its continuous profitability. Being compensated thousands of dollars every time diminished value occurs fits in with that objective.

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auto diminished value payment button
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.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming

TOTAL LOSS DISPUTE

This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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GETTING A TRUCK OR HEAVY EQUIPMENT APPRAISAL

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The St. Lucie Appraisal Company, Automobile Appraisers in all 50 States 772-359-4300 contact@stlucieappraisal.net

Getting a truck or heavy equipment appraisal for financing, insurance or a charitable donation qualifies as a necessity when requirements dictate. In addition to accuracy, an appraiser who prepares a valuation report for heavy equipment should strive to present professional-looking documents that will impress a bank, insurance company or the IRS as being valid. There are other reasons that appraisals may be necessary such as in matters involving estates, bankruptcy, purchase & sale, damage claims or equitable distribution.

Appraising and donating a truck or heavy equipment to charity is both worthwhile and financially beneficial to you. A truck can enhance many lives through the service it provides. The tax deduction that is enjoyed by the donor is, of course, another good reason for considering such a gift. The St. Lucie Appraisal Company provides fair market valuation appraisals in all 50 states for many useful purposes such as estate dissolution, equitable distribution, damage claims, total loss disputes, loss of use claims as well as for donations. Knowledge of trucks and heavy equipment is one key requirement but another essential necessity that an appraiser of RVs needs a database of past sales of comparable items. Whether the appraisal is going to the IRS, an insurance company or a magistrate, it must be documented by sources for the information contained therein. In the case of a tax deductible donation in excess of $5,000.00, you must have a written appraisal in which the appraiser will complete an IRS Form 8283 for you.

Hire an Experienced Truck and Heavy Equipment Appraiser

Due to changes in IRS reporting requirements, a truck or piece of construction equipment can no longer be appraised by the dealer where it was purchased unless the item will be donated within two months of when it was acquired. If the vehicle is worth less than $5000.00, then you usually don’t need to hire an appraiser to value it for you. Like most automobiles, trucks can be evaluated by year, make, model and condition. Other factors that should be considered are whether vehicles have been upgraded or customized.

Insuring a Truck, trailer or heavy construction vehicle is usually a straightforward process unless upgrades or custom work was done. Claims, however, are a different story. Obtaining a fair settlement for a wrecked, stolen or total loss truck can be a nightmare because insurance companies are far less accommodating paying claims then they are in collecting premiums. An appraisal based on real world comparables is a necessity in these cases.

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Obtaining financing from a bank or credit union for the purchase of trucks and heavy equipment often requires the borrower to have it appraised. These vehicles depreciate over time so lenders are careful about financing used trucks and construction equipment. The Black Book and NADA truck evaluation guides don’t address upgrades and customization. Many trucks have been refurbished to a degree that will extend their lifespans by many years. Banks and credit unions, when searching through their guide books can’t help but fail to realize these and decline to offer adequate loans. Hiring a licensed appraiser is a means to obtaining the necessary financing.

The St. Lucie Appraisal Company has provided valuation appraisals for trucks and heavy equipment since 1981. We are licensed appraisers and provide service in all 50 states. The cost of a fair market value appraisal depends upon the research necessary to make an accurate determination. However, with the extensive database of past sales at our disposal, we can most often provide an appraisal of a trucks and heavy equipment for $375.00.

The St. Lucie Appraisal Company
Service in all 50 States
Phone: (772) 359-4300
Email: contact@stlucieappraisal.net

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.