Page 1 of 1
Can I use a diminished value calculator to back up my claim?
Posted: Tue Dec 29, 2020 6:33 pm
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.