Is it real loss that the value of the vehicle is lost?
Decrease in the loss of value in the vehicle is the real loss of the course, why?
If you have two identical vehicles, exactly the same color, options, mileage, look like this. If you were involved in a previous conflict, would you pay the same thing? Suppose there was a loss equivalent to $ 10,000 in a previous accident. Do you pay the same fee as the vehicle not damaged? This stigma is what makes a drop in value a true loss.
A valuable thing that began with a borrowed car. Many rental car companies lend new cars with low fuel consumption. When these vehicles reach a certain age or mileage they are sold and are exchanged for another vehicle. They have discovered long ago that the value of vehicles has declined significantly if they have to get rid of the fact that the car was previously repaired. Depending on the amount of damage, the loss of value can be 10% of the retail value up to 50% of the value.
Severity is a factor, how was the car restored? Did you have any damage to the frame? Where are the new parts installed? Where are the parts and aftermarket used? How do you see the repair, are they obvious? Can you see the painting work, do the colors match? When you open the hood, do you see the sign on the door, the trunk? Do you pull the car when leaving the steering wheel? All these things are elements that must be decided in determining the loss of value.
When I claim low value of value, I need to consider many factors, but one of the most important things is a drop in value from repair. Shops that have repaired are obliged to perform repair work with a magical skill. After 35 years of repairing collisionally destroyed vehicles, I know that there are no standards. Automobile manufacturers issue repair bulletin boards and repair procedures, but most insurance claim ideas are to fix it quickly and cheaply. This creates disadvantages and quality bad repair that I saw in my career.
When the value of the client declines, we divide the value into two categories.
Repair related:
Is the loss of value due to poor quality repair? Painting such as obvious signs of repair, paint mismatch, paint garbage, poor gaps, rust due to weld wear, damaged trim, frame repair marks, pulling and alignment problems. There are many more factors, but this provides the idea of what I'm looking for.
Reduction of eigenvalues:
Because of the history of damage to vehicles, facts and disgust are essential. This follows the vehicle throughout his life. Even ignoring repair related DVs, the fact remains that vehicles do not sell as much as not damaged vehicles. As in my example, most people do not think that a vehicle has the same value as a vehicle that has not been damaged.
Under most state laws, the seller needs to make the buyer recognize the fact that the vehicle was involved in a previous conflict. In North Carolina state, I judged that the seller must distinguish that there was damage exceeding 25% of the retail price at the time of loss. Seller's disclosure is the law here, but the most honest seller is going to get rid of the fact that the vehicle was previously destroyed.
In our situation, if you were the cause of the loss, you can not collect the loss of value. The first party claim is the correct term.
In North Carolina state, you may be able to gather from at fault parties if your damage is caused by others.
So do you think the decline in value is a real loss? I have helped hundreds of people gather a lot of the money they owed. I also got a couple of unrepaired cars that were removed from the street. And 99% of the vehicles examined addressed some kind of repair related problems.
Please comment and tell me your opinion!
I say reduced value is a real loss.
Bob Winfrey
