May
12

Does anyone know anything about the Diminished Value Laws in Texas on cars?

Posted by admin


There are actually alot of mis-conceptions about this. First of all, any time an item is damaged and repaired, then you will have lost value.

In Texas it is the law that you can recover this loss on an auto if you are the victim of the accident.

An average accident on a regular car (ford, chevy, toyota) will cause an average loss of about $3800. They key is the method of determining the lost value.

If you select a reputable, court approved company to help you determine your diminished value, you will be able to collect this.

A Texas based company, Texas Auto Services, is the leader in this field. Visit their website and you will get ALOT of info.
texasautoservices.com

Good Luck!

  1. UCANTCME Said,

    If you have say $10,000.00 of damage done to your vehicle, you would need to ask the insurance company for at least 75 percent of the $10,000.00 but there really is no law as to what they will give you, you just need to be persistent and try and work with them so that you can get as much as possible.

    If you dont get what you want you do understand that the amount of damage if sold is taken of the top of the vehicle..

    Inherent Diminished Value is the actual retail cash value that your vehicle has lost due to the damages that occurred in the loss. This is the amount that your vehicle was worth just prior to the loss less the value just after the repairs are completed. Most vehicles that have sustained damages due to a collision will have Inherent Diminished Value.
    References :
    923

  2. infoman6617 Said,

    not texas but when you buy a car of any type and drive it off the lot the price just drop a couple grand
    References :

  3. mike c Said,

    What it refers to is the practice of a lot of Insurance companies going to the HMO approach to body repair–offshore produced replacement parts for domestic vehicles and even used parts in some cases. Allstate is a big offender although there are others moving in this direction, there is web-site that directs you to a help page but all they really do is charge you to file in small claims court. Its up to you to decide whether or not its worth the hassle of doing it yourself or having it done for you
    Hope that helped.
    References :
    retired Daimler-Chrysler dealer

  4. Robert Shipley Said,

    There are actually alot of mis-conceptions about this. First of all, any time an item is damaged and repaired, then you will have lost value.

    In Texas it is the law that you can recover this loss on an auto if you are the victim of the accident.

    An average accident on a regular car (ford, chevy, toyota) will cause an average loss of about $3800. They key is the method of determining the lost value.

    If you select a reputable, court approved company to help you determine your Diminished Value, you will be able to collect this.

    A Texas based company, Texas Auto Services, is the leader in this field. Visit their website and you will get ALOT of info.
    texasautoservices.com

    Good Luck!
    References :

Add A Comment