Can I use a diminished value calculator to back up my claim?

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Joined: Tue Sep 29, 2020 11:55 am

Can I use a diminished value calculator to back up my claim?

Post by Simon »

You could but it's a bad idea. The used vehicle market is too dynamic, complex and localized for any cookie cutter arbitrary formula to be accurate in appraising diminished value. Using any arbitrary formula or a calculator is not a valid appraisal methodology. Calculator-derived diminished value amounts get routinely dismissed out of hand by insurance companies because they don't hold up under any scrutiny. I highly recommend getting a certified Diminished Value Appraisal from a USPAP-compliant independent auto appraiser to back up your claim.
Do you need more help? Sick of adjuster lies? Check out these resources!

How to choose a reputable diminished value appraiser?
How does a diminished value claim work for a car accident?
Frequently Asked Questions about Diminished Value

Simon Galperin is a senior auto appraiser at Tiger DV and an expert on diminished value. He consults attorneys, insurance companies and individual car owners on the subject of automotive diminished value.
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