Did your Cadillac XT6 recently go through an accident? You’re not alone in facing the hidden financial impact that even the best repairs can’t erase. Insurance companies often won’t explain how much your vehicle’s value has dropped, leaving you with a payout that falls short of covering the true loss.
October 2024 Auto Market Update—Week Ending October 29th Introduction In the final week of October, the auto market continued to adjust as wholesale prices softened across both car and truck segments. With seasonal demand stabilizing, certain segments saw sharper price declines, influenced by broader inventory levels and steady auction activity.
What is Diminished Value? Diminished value is the reduction in your vehicle’s resale value after it has been involved in an accident and repaired. Even with expert repairs, a car with an accident history often is worth less than an identical model without one. Buyers typically expect a discount to
DOWNLOAD THE “Is It Safe to Buy a Car That’s Been in an Accident?” PDF Should You Buy a Car That Has Been in an Accident? When you’re on the hunt for a used car, it’s common to come across vehicles with an accident history. For many buyers, seeing an
Was your 2024 Lincoln Nautilus recently involved in an accident? You’re not alone. Even after repairs, your vehicle’s market value can take a significant hit. Most insurance companies won’t tell you this upfront, leaving you with a settlement that might not cover the true loss. In this article, we’ll dive
October 2024: Auto Market Update – Week of 10/22/24 The automotive market in the third week of October 2024 continued its seasonal adjustments, with wholesale prices experiencing further declines across both car and truck segments. Market behavior this week reflects expected trends as we move further into fall, where price
Manual cars, once the standard for vehicles worldwide, have become rarer on today’s roads, but they still hold a special place in the hearts of driving enthusiasts. In 2024, as automatic cars continue to dominate, and with the rise of EVs, many drivers wonder whether there’s still a reason to
So, your car’s been declared totaled, and now you’re not sure what to do. Trust me, I know it’s tough, and it can feel like the world’s suddenly gotten a whole lot more complicated. But don’t worry—I’m here to help you navigate these next steps with a clear head and
Accidents happen, but the hidden cost of getting your car back on the road can be the diminished value that remains even after repairs. If your 2023 BMW 5-Series has been in a crash, you may be looking at a significant drop in its market value—even if it looks brand
October 2024: Auto Market Update – First Week Trends and Insights The first week of October 2024 brought notable shifts in the auto market, influenced by several key factors. On the wholesale side, we observed price declines across both car and truck segments. Meanwhile, disruptions from Hurricane Milton in Florida
How Insurance Determines Your Car is Totaled When your car is declared a total loss, it’s because the cost of repairs exceeds a certain percentage of the car’s Actual Cash Value (ACV). The threshold for determining if a car is totaled varies by state but typically ranges between 50% and
Thinking about switching to a hybrid this year? You’re not alone. More people than ever are choosing fuel-efficient hybrids to save money on gas and reduce their environmental impact. The good news? The best hybrid cars of 2024 offer amazing choices, whether you’re after a sleek sedan or a spacious
Was your Mazda CX-50 in an accident? Even if it was fixed up perfectly, chances are its value has gone down. This drop in value is known as diminished value, and it’s something insurance companies often don’t mention. Even when they do, 80% of the time, it’s a lowball offer
Understanding Diminished Value Claims What Is Diminished Value? Diminished value is the reduction in your car’s market value after it’s been in an accident, even if all the repairs are done properly. Most buyers are hesitant to pay the same amount for a vehicle with a history of damage, seeing
When you file an insurance claim, you expect a fair settlement that covers your damages or losses. Unfortunately, not all insurance companies operate in good faith. Unfair claim settlement practices are tactics used by some insurers to delay, reduce, or deny payouts that policyholders rightfully deserve. In this article, we’ll
If you’ve recently been in a car accident, you might be wondering how much your vehicle’s value has been impacted. Understanding diminished value is crucial, especially if you’re driving a premium model like the 2024 Lexus IS. Many insurance companies undervalue your vehicle’s worth after an accident, using outdated formulas
Another week, another auto market update! This time, with a special month review!If you’re asking yourself which of those were the most profitable niches and trends, you’re in the right place. Since the start of September, we’ve seen the core aspect of auto sales remain “affordability.” Now, in the last
Diminished value is an essential concept for car owners, especially those involved in accidents. The fair market value of a vehicle drops significantly even after complete repairs, which can have a long-term financial impact. For policyholders with Liberty Mutual, knowing how to file a diminished value claim could mean recovering
Maximize Your Diminished Value Claim Against Farmers Insurance If you’re preparing to file a diminished value claim with Farmers Insurance, being strategic and well-prepared can make all the difference. Even after your vehicle has been repaired following an accident, it’s likely worth less than before due to its accident history.
Accidents happen, and when they do, the impact on your 2023 Cadillac XT4 goes beyond just the physical damage. Even after a flawless repair, your vehicle’s market value will likely drop. This is where diminished value comes into play. Diminished value represents the difference in value between a car that
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