2006-07-20 08:39:14 · 7 answers · asked by ayounglatino 1 in Cars & Transportation ➔ Insurance & Registration
The question was a little vague, Do you mean how much D.V.is applied to my vehicle after an accident? You can check with your state insurance department and they may be able to give you a calculation as to how much dimished value you have vs. amount of damage and value of vehicle.
2006-07-20 14:29:54 · answer #1 · answered by orgrmichael 4 · 0⤊ 0⤋
If you are talking about DV from an accident there are numerous sites that propose to calculate this. It is only a guide, however. The value of a car is only what the market will pay for it. That's it. Simple. If you drive a 1997 Cavalier that had $550.00 of collision damage repaired, DV is nil. If, on the other hand, your 2005 Ferrari Enzo had $48,000.00 worth of repairs due to collision, you could be in for some serious DV. Two used '04 Accords are on a car lot for sale. Same color, model, mileage and options, except vehicle #1 had $4,650.00 of body repairs last year and vehicle #2 is collision-free. Is V1 WORTH as much as V2? No. Is it worth $4,650.00 less? No.
Maybe this isn't as simple as I thought.
2006-07-20 17:18:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
After the first big jump of 20 to 30% for driving it off the lot, you can figure 10% a year average. In about 8 years it will have very little value.
2006-07-20 11:39:04 · answer #3 · answered by oklatom 7 · 0⤊ 0⤋
Yes. just search the kelly blue book value. They have a website that you can calculate the value of your car on.
2006-07-20 08:42:49 · answer #4 · answered by smalltownangel 4 · 0⤊ 0⤋
Diminished value is based on deducting a percentage of damage not related to the claim made. It can be physical damage or excessive mileage. Usually the insurance department of your state dictates the percentage of deduction allowed based on the year of the car.
2006-07-20 09:03:57 · answer #5 · answered by Final Answer 3 · 0⤊ 0⤋
You can get TMV (True Market Value) of ur car at Edmunds.com...enter model, make, year, mileage, features and select from options indicating the condition of the car, say outstanding, and the site will display the estimated price of the vehicle.
Kelly Blue Book (KBB) offer same kind of service.
Hope this helps & good luck!
2006-07-20 08:46:20 · answer #6 · answered by Sh00nya 4 · 0⤊ 0⤋
http://www.nada.com lists the ACV (actual cash value)
2006-07-21 18:11:28 · answer #7 · answered by PeppermintandPopcorn 3 · 0⤊ 0⤋