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
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
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
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
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 Many insurance companies undervalue your vehicle’s worth after an accident, using outdated formulas
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
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
When your vehicle is declared a total loss after an accident, the insurance company’s settlement offer might not always reflect your vehicle’s true market value. This is where a second opinion appraisal becomes crucial. At Diminished Value of Georgia, we specialize in helping drivers ensure that they are receiving a
An accident can change everything in an instant, especially when it comes to your car’s value. Even after repairs, your 2022 Acura RDX may not be worth what it once was. This decrease in value, known as diminished value, can significantly impact what you’ll get if you decide to sell
After an accident, even with perfect repairs, your car’s market value decreases. This financial loss, known as diminished value, can be claimed by insurance companies like Allstate. Filing a diminished value claim ensures you’re compensated for this loss. This guide walks you through the process, focusing on how to navigate
If you own a 2024 Lincoln Aviator and it has been in an accident, you may have noticed a disturbing trend – even after repairs, the value of your SUV has decreased. This decrease in value is referred to as diminished value, and it affects many car owners who have
The wholesale auto market saw some interesting twists in the week ending September 7th, 2024. The current trend is a departure from the usual seasonal patterns. While the used car market is cooling down, trucks and SUVs are displaying strong growth. It’s a delicate balance – cars are declining, but
When your car is involved in an accident, even after repairs, its market value often drops. This is what we refer to as diminished value—the difference in your vehicle’s worth before and after the collision. If you’re insured by USAA, navigating their diminished value claims process can be challenging. Here,
The 2023 Subaru Legacy is a popular midsize sedan that combines safety, performance, and reliability in an elegant package. It commands a high resale value due to its impressive safety features and exceptional design. After your Subaru Legacy has been in an accident, even if the damage is minor, the
The auto market, for the week ending August 24, 2024, has shown some subtle yet crucial movements that could easily go unnoticed if you’re not keeping an eye on the fine print. While the overall market is relatively stable, specific trends in truck and SUV segments are quietly shaping up
Accidents are a nightmare, no doubt about it. Whether it’s a minor fender bender or a more serious collision, the aftermath is often more than just a repair bill. If you own a 2022 Hyundai Ioniq 5 and it’s been in an accident, there’s another financial hit you need to
The push for electric vehicles (EVs) is no longer a niche initiative; it’s a national priority. The Biden administration has made it clear that the future of transportation lies in electrification, and to back that vision, the U.S. government is pumping $521 million into EV infrastructure. This investment is designed
Auto market updates are often filled with predictable patterns and familiar trends. But every so often, the numbers reveal shifts that catch even seasoned analysts by surprise. The week ending August 24, 2024, was one of those times. While many continued to grapple with the impact of high interest rates,
The automotive world is buzzing with the shift towards electric vehicles (EVs), promising a new era of cleaner, more efficient transportation. However, for dealerships, this shift isn’t just about selling the latest models. It’s about tackling new, and often unforeseen, challenges. One of the most significant issues now emerging is
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
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