Selling a Vehicle with a Bad History, You May Be Entitled For More Money
For insurance companies a diminished value settlement is like a nightmare but not for the consumer. It is very important to know what it is. So, when someone’s in an accident they didn’t cause and the worth of their car decreases. The customer can collect the diminished value when it comes time to sell it. When you sell a car that has a tarnished CarFax History due to an accident.
You will not be able to sell the car for the same amount for another car that has no accident history. Thus, you can collect that difference from your car insurance.
To get that value, you subtract your car’s current value from its former value. Remember, you insured your car for the value of it. You are collecting the diminished value claim to make up the difference. The more expensive your car is the more diminished value it has. You can file a claim up to 4 years following the accident.
Insurance Companies Do NOT Want You To Collect
Most insurance companies won’t tell you about them, but you can collect your car’s diminished value from them. Some companies may even discourage it, saying that it’s too much work. Any insurance company is capable of offering you only a small percent of the diminished value instead of the full percent. You have the right to collect this. It is your money, and all you need to do is get an appraisal to claim it.
Get Help From a Professional
To get the most money, get a professional consultation. Ask an attorney or agency that specializes in diminished value settlements. They’ll help with figuring out the details. They will help you deal with your insurance company. Sometimes it will take weeks to file a claim for. But endure, in the end, it is worth it to receive your diminished value settlement claim.
If you have any questions about diminished value settlements. One of our partners, the Collision Safety Consultants, is who we recommend. Their link is down below.
Article by: Juan Rodrigez