Diminution in value can occur when a vehicle has been involved in an accident and consequently repaired, particularly if repairs are structural in nature. It is the difference between the price an owner would get for their vehicle prior to an accident and if they sold it immediately after repairs had been completed, even if perfectly repaired.
Diminution in Value occurs immediately after the vehicle’s accident damage has been repaired. From that date, the motor car has a diminished value which remains with it for the rest of its existence. The diminution does not arise when the car is sold.
It is the view of TEC Group that the damages for Diminution in Value to which a plaintiff is entitled is the difference between the price the plaintiff would get if they had sold their vehicle immediately after the repairs had been completed and the price obtained on the same date had the vehicle had not been involved in an accident.
Diminution in value, quoting previous case law
TEC Group vehicle engineers are able to inspect a vehicle, consider the type, extent and cost of repairs, together with the vehicles desirability, value and age and then calculate and provide a detailed report on the likely percentage diminution in value, quoting previous case law.
- Qualified, Experienced Engineers
- Recognised formulas
- Proven Case Law
- On Line Documents
- On Line Management Data
- On Line diary
- Fully controlled process