When Accident Repairs Aren’t the End of the Story
In New Mexico, diminished value can quietly eat away at your vehicle’s resale value—even after repairs are completed. That’s exactly what happened to the owner of a nearly new 2024 Hyundai Palisade Calligraphy. Despite undergoing over $15,000 in restoration, this luxury SUV still carried a $5,425 loss in value. Without professional documentation, that loss might have gone completely unclaimed.
Vehicle Overview
Make/Model: 2024 Hyundai Palisade Calligraphy
Location: New Mexico
Accident Type: Rear-end collision
Mileage at Time of Accident: 9,765 miles
Repair Cost: $15,077 (with tax)
Diminished Value Status: $5,425 inherent DOV confirmed by DVAC
Why a Professional Appraisal Matters
A Carfax record reported this accident as minor. However, DVAC’s independent review found structural damage to the left rear that required significant repair hours and parts replacement. Because most dealerships and private buyers consult vehicle history reports before a purchase, even seemingly minor damage labels can significantly reduce perceived value—especially when they fail to mention critical structural repairs.
Using our objective, third-party process, DVAC calculated the vehicle’s true diminished value by comparing:
The vehicle’s pre-accident value using sticker-based options and J.D. Power archives
The actual post-repair market impression
The inaccuracies in public vehicle history records
This allowed us to establish a data-backed diminished value of $5,425, giving the vehicle owner leverage during their claim.
Common Missteps in Diminished Value Claims
Far too often, insurance companies rely on generic formulas or downplay the impact of structural damage. In this case, the insurer might have referenced the Carfax report, which didn’t accurately reflect the extent of repairs performed. Relying on incomplete or misleading records can cost vehicle owners thousands.
That’s why working with a licensed appraiser like DVAC makes a difference. We review repair invoices, inspect the documented damage, and align real-world market data with appraisal calculations.
How DVAC Supports You Throughout the Process
At DVAC, we don’t just issue a report—we guide you from start to finish:
Objective Valuation: We are not affiliated with insurers or repair shops, ensuring complete neutrality.
Accurate Reporting: Our reports stand up in both insurance negotiations and legal disputes.
Fast Turnaround: Most appraisals are completed within days, not weeks.
Client-First Service: We’re available to answer questions and support your case from appraisal to resolution.
Understanding Diminished Value in New Mexico
New Mexico law doesn’t automatically guarantee compensation for diminished value. That means drivers must take the initiative to prove loss—and insurers may push back. However, with third-party evidence, including expert appraisals like DVAC’s, claimants have a much stronger case for recovery.
In this case, the Hyundai Palisade owner’s proactive approach made all the difference. With DVAC’s help, they were able to substantiate a $5,425 loss and seek fair compensation.
Conclusion: Don’t Let Diminished Value Go Unclaimed
If your vehicle was involved in an accident—even a minor one—there’s a good chance its market value has dropped. The only way to confirm the extent of that loss is with a professional, data-driven diminished value appraisal.
Ready to find out how much compensation you might be missing?
Contact DVAC today for an objective, data-backed diminished value appraisal.
