What is Diminished Value? In Layman’s terms, Diminished Value is the immediate loss of value your vehicle suffers due to an accident even when your vehicle has been repaired. This loss of value is created by Stigmas and damage that can not be restored to...
Most people don’t realize that you can write off any unrecoverable Diminished Value you may have suffered. If you itemize your deductions, Line # 19 on Form 1040 – Schedule A could be used to deduct your un-recovered Diminished Value. Depending on your tax...
I have people ask me all the time… Ken, can you show me how to calculate diminished value? To do a proper appraisal, it takes research. Research most other appraisers are not eager to do. Actually, I’m not even eager to do it, but I know it has to be done...
It is simply the amount of value lost due to a vehicle being in a collision. Now, this could be from the car or truck having a damaged history, or it could be that the vehicle has not been repaired to like new condition. Let me ask you, would you pay the same amount...
