What Is Diminished Value After a Car Accident?
If you truly want to maintain the value of your car, you should never drive it off the dealer’s lot. The moment you drive away, your car’s value depreciates as much as 10%, and within a year, that depreciation goes up by as much as 20%.
After a crash, one question you may want to find yourself needing to answer is, “What is diminished value after a car accident?” Why does this amount matter? It could affect the amount of compensation you receive, although that depends on many factors, starting with who was at fault for the Baltimore wreck that seriously injured you and damaged your vehicle.