Figuring out a few factors of your Vehicle Depreciation can be a headache. If only a Diminished Value Calculator existed for us simple folks!
Did you know that the cost of your vehicle immediately goes down the second you purchase it? When you modify your car, it will also decrease in cost if you ever decide to sell it. Yes and this is sometimes referred to as “The Silent Thief.” Buying a car is not necessarily the same as buying a new house. Unless you are purchasing a classic (which likely will cost a fortune to upgrade and keep running anyways), you certainly will need to know that your car will decrease by about 15 to 20 percent each year that you own it.
Having to repair your car can also decrease the value of your vehicle, choosing the right bodyshop or choosing to do Paintless Dent Removal versus painting is also important in retaining your car’s value. We will discuss PDR more in another article.
Physical Deterioration? Well let’s consider the Depreciation Value of a Car After an Accident. If you are like any typical citizen, you will have to report your accident to the insurance companies. Once you’ve done so, they will send an assessor out to look and document the damage. After doing so, repairs will ensue etc. The depth of the damage to your car may be fixable, just ensure that the quality of the repair shop is credible and doesn’t cut corners. Most legitimate body repairmen will keep the integrity of your vehicle in mind when fixing your car.
A Car Accident Calculator (or calculation) will show you the difference between correctly repaired vehicles, versus one that was fixed cheaply. This is done, by checking the estimation of the parts and labor involved so that you (the customer) can be at peace with knowing your mode of transportation is legitimately running well. The longevity and condition of your car is a huge factor to maintaining the value and integrity. A car is a long time investment. It doesn’t have to hurt if you have an honest repairman by your side to help!
Written By: Danae Wakefield & Kosol Ros