Once your luxury vehicle is involved in an accident, it’s never going to have the same value on the resale market. That’s frustrating for any car owner, but especially owners of exotic, collectible cars, many of whom have invested a lot of time, passion, and yes, money, in their beloved vehicle.
While you can’t go back in time, you can usually recoup some or all of your car’s lost value via a diminished value claim. To make sure you get the maximum amount though, you need a professional appraiser to assess the car and determine the exact difference between your car’s pre- and post-accident value. This is called a diminished value appraisal, and is something we recommend for all luxury vehicle owners after an accident.
So, how much does a diminished value appraisal cost? At SuperCarClaims.com, we have extensive experience in diminished value on high-end vehicles. And below, we’re taking the guesswork out of the equation with a quick breakdown of appraisal cost factors and the different price points available.
Diminished Value Appraisal Cost Breakdown
How much a diminished value appraisal costs is based on a number of factors, including the type of vehicle, the severity of the accident and damage, and how much information is covered in the report. Total cost can vary as well, based on the experience of the appraiser and where you’re located.
Types of Diminished Value Appraisals: Cheapest to Most Expensive
As with any vehicle-related service, prices can and do vary based on where you go for your appraisal and the exact services performed.
For the cheapest option, opt for a desktop/online appraisal, which provides you with helpful, often free tools for calculating diminished value. This isn’t nearly as accurate as having a pro look over your vehicle, but gives you a good starting point and lets you know if you should pursue a more extensive option.
A mid-range option would be to get a certified appraisal from a licensed professional in your area. Everyday appraisers run the gamut in terms of experience and specialty, but can generally give you a decent idea of your car’s lost value.
Finally, there’s the premium option, which is an in-person physical inspection with an appraiser who specializes in your type of vehicle, be that a sports car, supercar, etc. You’ll spend more going this route, but you’ll almost always get the biggest bang for your buck, too.
Why Diminished Value Appraisals Are Worth the Cost
There is nothing cheap about getting in a car accident. While we understand that many car owners don’t want to spend more than they have to in the aftermath, especially if they weren’t at fault, springing for a professional diminished value appraisal is almost always going to give you a good return on investment.
If you believe that the diminished value of your vehicle is higher than the cost to get it properly appraised (which, with rare and luxury vehicles, it usually is), then it’s a no-brainer to move forward with one. Just be sure to go with the highest quality option instead of the one with the lowest price tag. The more an appraiser understands your vehicle and its market, the more confident you can be in your final diminished value claim.
As supercar claims experts, our goal with appraisals is always to maximize client benefit. Get in touch to schedule a diminished value appraisal with a pro who appreciates your vehicle as much as you do, and recoup as much as possible of its lost value.
Get a Quote for a Diminished Value Appraisal
Because a diminished value appraisal cost can vary, it’s a good idea to compare two or more companies to make sure you get the best appraisal at the best price.
SuperCarClaims.com offers a competitive and transparent pricing structure and unmatched expertise in luxury and exotic vehicles. Contact us for a personalized quote based on your vehicle type and the damage it incurred, and get back every penny possible from your diminished value claim.
