If you have been paying attention to the dualing class actions raging in the midwest, you have probably heard about something called "diminished value". Unless you are involved in auto issues, you are probably thinking, "What the heck is that?" Here's the answer. Diminished value is the phrase we use to describe the decrease in value your vehicle suffers from an adverse event -- typically, when it has been involved in an accident. When people are thinking about buying a car, one of the important questions they have is, "Has this car ever been in an accident?" If the honest answer to that question is "yes", the buyers may simply cross that car off the list or will only consider buying it at a much cheaper price. The bottom line is that after an accident, your car is almost always worth less than it was immediately before the crash. Understanding Diminished Value
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