Diminished Value Case Study 2021 Toyota Tacoma 01/23/23
A client was recently involved in a wreck in his 2021 Toyota Tacoma TRD Off-road. His truck incurred just under $20,00o in damage restoration repairs. The vehicle sustained severe body/frame damage and underwent 2 hours of frame set up / 2 hours of chain pull to re-align the buckled frame.
Frame damage is one of the leading factors influencing diminished value. Above all else, a Carfax or general claim record of structural damage diminishes a vehicle's value far more than aesthetic or suspension/steering damage.
DVAC carefully examined the final bill, line item by line item, as well as taking a close look at the Carfax. DVAC calculated an inherent Diminished Value of $6,000.00 due to this loss based on repair records and market research. The client submitted the licensed appraisal and DVAC stayed personally involved until settled. The client was able recover the full amount of diminished value assessed.
It pays to have a professional on your side!