Diminution in Value
Although the motor vehicle repair industry repairs vehicles to a very high standard following an accident, our experience of carrying out Pre-Purchase inspections of motor vehicles has revealed that many prospective purchasers expect a reduction in the vehicles purchase price, compared to a vehicle not previously damaged, due to the fact that the vehicle has had structural repairs. Our research also indicates that dealers reduce their offers on cars that have been accident repaired and in instances where the repairs are of an extensive structural nature they will not be prepared to make an offer on the vehicle.
Diminution in value can occur when a vehicle has been involved in an accident and consequently repaired, particularly if repairs were structural in nature.
It is well established in law that a vehicle may suffer diminution in value following accident damage and crash repair. The cases we document clearly define the defendant’s position with regard to the expected diminution in a vehicles value following accident damage and crash repair.
As part of our normal accident repair inspection, we are now calculating a diminution in value for a number of our principles, which enables them to calculate the actual loss incurred by their client.
We are able to inspect the vehicle and consider the type, extent and cost of repairs, together with the vehicles desirability, value and age and provide a likely percentage diminution in value.
We are also in a position to consider a vehicles diminution in value if provided with a copy of the engineer’s accident inspection report and a copy of the repairers repair invoice.
It should be noted that a diminution in a vehicle value applies, normally, to vehicles which have undergone major repairs.
These reports take 24 hours to compile after the inspection, subject to all the information being available. These reports can be sent by all media including E-mail, fax and / or post.
At all times our principals are updated as to the progress of cases.
For further information or to discuss your case contact our offices on tel 01922 610001 or email: firstname.lastname@example.org