Overview
Learn more…Opens in new tab
The term “Corvette Diminished Value” means that Corvettes which were damaged and subsequently repaired lose market value as a result of having a repair history, sometimes known as a “Bad CARFAX.” In most states, this lost amount is recoverable from insurance companies of at-fault parties. The amount of diminished value is determined by the damages that were repaired and the vehicle itself.
WE ARE THE BEST AND MOST TRUSTED AUTO DIMINISHED VALUE APPRAISERS IN THE COUNTRY. OUR COMPANY VALIDATES OUR DIMINISHED VALUE RESEARCH BY SPEAKING TO THE SALES MANAGERS AT SIX CHEVROLET DEALERSHIPS IN YOUR AREA. THIS SUPPORTS OUR EXPERT OPINIONS, PROVIDING PROBATIVE EVIDENCE TO STRENGTHEN YOUR INSURANCE CLAIM OR COURT CASE.
There is a new phenomenon in the automotive world and it is called Diminished Value. For those who haven’t heard this term, it means the loss in value a vehicle experiences after undergoing collision repairs. Corvettes which attract more discriminating buyers, suffer a great deal more diminished value than an ordinary car. Used car buyers simply won’t pay as much for a previously wrecked car so dealers, in turn, have to offer less come trade-in time. Corvette owners expect a first-class level of service. Those expectations extend to the treatment they receive from insurance companies after their cars are wrecked by the negligence of others. Seeking fair compensation for diminished value and loss of use is part of it. How to apply for a diminished value claim on a Corvette? You need an expert appraiser. At The St. Lucie Appraisal Company, Corvette Diminished Value and Loss of Use claims are our specialty.
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300. Tesla and other exotic car owners please call for rates.
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE
Our methodology for preparing automobile diminished value appraisals is unique within the industry because we don’t rely on formulas, algorithms, auto auction results or other short cuts to determine the amount of value lost after collision repairs. Each situation is unique and the only way to provide tailor-made reports is to query the people who actually do the buying and selling of these bad Carfax vehicles – sales managers at Chevrolet dealerships local to the vehicle owner. We confirm our opinions of diminished value by additinal research with Chevrolet dealers. It is important, of course, that the dealers who participate in our surveys know full well that the subject vehicles are not for sale or available for trade. This prevents insurance companies from alleging collusion or vested interest. This approach has made our company the best at what we do – Diminished Value and Loss of Use Appraisals. Magistrates and mediators alike have recognized the validity of our reports because they are comprehensive and they aren’t complicated.
Insurance Company defense attorneys can instantly recognize which independent appraisals will stand up in court and advise their adjusters accordingly when it comes to offering fair settlements. We are rarely called upon to appear as expert witnesses in legal proceedings because our customers generally receive fair settlements which means fewer civil actions. Corvette diminished value and loss of use claims should present no problems if appraisals are prepared correctly.
So where does this leave the Corvette owner when it comes to receiving fair compensation for Diminished Value and Loss of Use? The independent appraisers that use formulas and algorithms arrive at numbers that don’t remotely represent the Corvette used car market. As for the independent appraisers that use automobile auction results, they are completely out of luck since so few high-end Corvette’ are put up for auction.
CORVETTE DIMINISHED VALUE AND LOSS OF USE CLAIMS
The St. Lucie Appraisal Company has gained more than our share of diminished value and loss of use requests from Corvette owners due chiefly through word of mouth and online discussions. It has been not only Corvette owners but also the certified Corvette collision repair shop managers who have sent their customers to us.
With regard to Loss of Use claims, it costs up to $250 per day to rent a Corvette. Insurance companies feel that they can get away with offering lower-priced replacement vehicles to Corvette owners. It is common knowledge that a wrecked high-end Corvette can take up to 60 days to repair. A typical Loss of Use report for a Corvette owner whose car is laid up for three months is in excess of $20,000.00. It is not necessary to actually rent a car in order to receive compensation for Loss of Use.
All years and model Corvettes will lose value after collision repairs. Diminished Value can result in as much as 50% of the vehicle’s value lost, especially if frame damage or air bag deployment was involved. While “the older the car, the less it will suffer diminished value” is true, that statement can be misleading. While a 2008 Corvette with a bad Carfax will lose less in value, percentage-wise, than a newer model, older cars can still be worth thousands of dollars less after accident repairs.
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.
READ MORE ARTICLES…