The used-vehicle market continued to slide last week, with wholesale prices dropping just over 1% on a volume-weighted basis. Both car and truck/SUV segments moved lower again, extending the depreciation streak that’s been building through November. Mainstream models saw the sharpest declines, while buyers at the lanes remained active but
When you buy a car and drive it off the lot, you already start losing value. That is natural depreciation. But if your car is in an accident, even after perfect repairs it may still be worth less than it was before the accident, that gap is called diminished value
The Manheim Used Vehicle Value Index (MUVVI) is the wholesale market’s bellwether, calculated from millions of auction transactions and adjusted so month-to-month readings aren’t distorted by vehicle mix. It’s a powerful context for your diminished value (DV) or total loss negotiations, but it’s not a VIN-specific price. We use it
Auto Industry Recap The depreciation trend that started two weeks ago continued to accelerate last week, with overall market values dropping by more than 1%. Vehicles aged between 0 and 2 years experienced the sharpest decline, with values down by 1.07%. Older models, in the 8–16-year range, also continued to
Would you rather collect 80% of an accurate appraisal or 20% of an inflated one?
Many clients believe that if another appraiser gives them a higher initial estimate, the settlement amount will be equally high. WRONG!
Insurance companies know who the legitimate appraisers are, so don't get caught up in the estimate game. Hire an appraiser based on their credentials and reputation.
Seven things to look for when choosing an appraisal company
