Diminished value is the loss in resale value a vehicle suffers after an accident.
CHARLOTTE, NC (PRWEB) October 31, 2014
Diminished Value Carolina is now offering a no-cost vehicle history report to every customer receiving a car appraisal because more often than not, car shoppers will ask to see a vehicle history report before purchasing a pre-owned car.
It’s a well-known fact that car buyers will not pay the same price for a vehicle that has sustained damage as compared to an undamaged vehicle. If an automobile has been in an accident, its owner may be entitled to be compensated for the diminished value the car has incurred. Diminished value is the loss in resale value a vehicle suffers after an accident.
Diminished Value Carolina is a licensed car appraisal company specializing in vehicle valuation reports that quantify the loss in resale value an automobile sustains after an accident. The company will now include a vehicle history report, from industry leaders Autocheck and Carfax, with its car appraisal reports at no additional cost.
"Since our report quantifies the loss in resale value, it would be beneficial to the customer for us to include a history report with it," says Tony Rached, senior car appraiser at Diminished Value Carolina. "We want our clients to put the accident in perspective and to look at the vehicle from the buyer's vantage point."
Vehicle history reports are documents that contain information about a vehicle's past—in other words, a background check for automobiles. This information is critical for consumers trying to purchase a vehicle. The top two vehicle history reporting companies in the US are Carfax and Autocheck. The cost of a vehicle history report varies between providers, but is generally between $30 and $40. Most car shoppers will inquire as to the vehicle's history, specifically the existence of previous accidents, before making an offer to purchase.
There will be no increase in the cost of appraisals offered by Diminished Value Carolina. Prices will remain $150 for desk appraisals and $275 for field appraisals anywhere in the state of North Carolina. It is critical that car accident victims order an accurate and credible auto appraisal report to serve as proof-of-loss to insurance companies and help clients collect what they are rightfully owed.
After an accident, the full original value of a vehicle will likely never be recovered simply because the automobile now has a history of damage that it did not have before. Prior damage history will be disclosed to potential buyers who will unlikely pay the same for a vehicle with a damage history as compared to one with no damage history.
If the repairs are done thoroughly and in a workmanlike manner, the value of the vehicle can be maximized, but likely never to its pre-loss worth.
Diminished Value Carolina is a licensed, BBB-accredited company specializing in diminished value assessments. DVC is a subsidiary of Car Appraisals and CLaims LLC. For more information about the car appraisal services they offer, please visit online at Diminished Value Carolina or call 704-761-8485.