***UPDATE*** I compared three random diminished value settlements that clients have received using my appraisals and used the same Diminished Value Calculator most of these type of sites are using. Here’s the results:
- 2012 Honda Odyssey: My Appraisal – $10,275; Settled for $8500; The Diminished Value Calculator’s result: $1590
- 2010 VW Beetle: My Appraisal – $3720; Settled for $3000; The DiminishedValue Calculator’s result: $526
- 2004 Ford Explorer: My Appraisal – $1225; Settled for $700; The Diminished Value Calculator’s result: $36
- I can tell by the information that the calculator asks for that it must be based off of the 17c formula that a Georgia Supreme court found to be flawed. This makes me wonder if the insurance companies are actually the one’s behind this.
- Another explanation is the calculator intentionally gives low results so the insurance company will take the appraisal immediately. Why? because to most people, 2-300 hundred dollars is a good return for their investment. And they feel the calculator did an excellent job because the insurance company didn’t dispute it. Which leads them to write an awesome review stating how great the service is.
Need a low cost alternative to a Diminished Value Calculator? We offer a General Diminished Value Report below starting at only $39.99, prepared by a Licensed Appraiser.
Using a DV Calculator, I’ve calculated several vehicles and the values tend to be about 25-35% of the real Diminished Value. So if you’re using an online calculator, and your real diminished value is $3000. then you’re probably going to lose around $1800. of your claim before you even start.
But then, there are some who give you outlandish numbers because let’s face it, that’s what you really want. Problem is, no one will pay anywhere close to that number. So you take it to an attorney and he’ll tell you to get a “real” appraisal. If your report comes from a place like this that is computer generated and not signed by a professional auto appraiser, you’re probably not going to get anything except laughed at by the insurance company’s appraisers and told to get a real appraisal by an attorney if you hire one.
They’re not stupid, they know it’s a computer generated report and that there’s no real value to it. DiminishedValue.net will review your final repair bill and determine the type of damage that has been done to your car, truck or motorcycle and then determine your Diminished Value. We look at your actual automotive market to determine how like vehicles are selling in your area. We include actual market data and sampling of like equipped vehicles from your market in our full appraisals. Then we develop a personalized summary to explain how and why we arrived at our conclusion as to the amount of Diminished Value you have. When the adjuster asks for the methodology used to determine the amount and you can’t produce it, chances are, they’ll void your diminished value report.
The difference in a diminished value claim settlement between a well prepared Diminished Value Report, and a conservative or inflated computer generated report based off generic data can easily be thousands of dollars. If you can’t afford a quality diminished value appraisal, then we now have a solution for you.
At only $39.99, it is an affordable way to determine the value your vehicle has lost, at an affordable price. This is not a computer generated valuation. A real licensed vehicle appraiser will review your information and give a generalized, written assessment of the the value of your vehicle and will sign the Diminished Value Assessment, declaring it as a valid assessment.
Although a full Diminished Value Appraisal is always suggested for best results, A generalized Diminished Value Report carries much more credibility than a calculator. Why?
- Your pre-loss value is determined by an appraiser. Not you using a retail value from NADA, KBB or Edmunds. Insurance companies know these book values are only benchmarks and you lose you credibility immediately since you determined the value.
- A Licensed Appraiser will review your estimate of record. Unless you’ve done a lot of homework, you probably don’t know what to look for when assessing whether your vehicle has structural damage or not. Calculators will not help you here. (We’ve found that many body shop personnel we’ve spoke with didn’t even know that damage to a vehicle’s pillar was considered structural damage.)
- A vehicle history report will be run on your vehicle to determine if there is any reported previous damage or if this loss has been reported. If your vehicle does show a damaged history from the loss, it will be included in the appraisal.
- A professional book value will be run on your vehicle. This is not a “Free” KBB, NADA, or Black Book Value. It’s the same program that professional appraisers and auto dealers use. This helps the appraiser to determine your pre-loss and post repaired values.
- A Demand Index is determined for both your zip code and your market area. (this helps the appraiser to determine how much value your vehicle has lost.
- A full color report will be emailed to you in PDF form with the appraiser’s general opinion on your diminution of value.
With the option to pay only the difference to upgrade to a Full Diminished Value Appraisal, we make it very affordable.
A large number of our clients have been very successful claiming their Diminished Value with our Diminished Value Assessment. Especially if you have cosmetic damage only. The cost is only $49.99 for a professional assessment of your diminished value. If you determine that you need a more in depth appraisal, we’ll apply the $49.99 toward your full diminished value appraisal. If you have more damage than $1500. we highly suggest you contact us for a full appraisal. Without a full appraisal, you could be stuck settling for thousands less than what you may be owed. (if you would like a free estimate of your loss value, please fill out the form on the right and an appraiser will contact you.)
Start Your DV Assessment now by filling out the Form Below!