Vehicle Diminished Value Calculation

PROFESSIONALLY CLAIM YOUR VEHICLE DIMINISHED VALUE AFTER AN ACCIDENT

Even if your vehicle is repaired after a traffic accident, a decrease in its market value occurs. We claim this loss from the insurance company under the scope of vehicle diminished value compensation.

As EREN & GONCE Law and Consultancy Firm, we actively manage vehicle diminished value cases in Istanbul. Furthermore, we follow every stage of the process and handle all legal procedures on your behalf, allowing us to move the process forward quickly and in a controlled manner.

📞 You can contact us immediately for a free preliminary evaluation.

VEHICLE DIMINISHED VALUE CALCULATOR

The tool below is provided by Pexpe.com.

WHAT IS VEHICLE DIMINISHED VALUE?

Vehicle Diminished Value refers to the decline in value that occurs in the second-hand market even if your vehicle is repaired after an accident. This is because vehicles that have been in an accident are generally sold at a lower price, even if the repair has been completed.

Moreover, this loss can reach higher levels, especially in dense vehicle markets like Istanbul.

WHO CAN CLAIM VEHICLE DIMINISHED VALUE?

To receive vehicle diminished value compensation, certain conditions must be met simultaneously:

  • First, you must not be 100% at fault in the accident
  • Additionally, the repair process of the vehicle must be completed
  • Furthermore, the damage must have been caused by a traffic accident
  • Finally, the vehicle must not have been classified as a total loss

When these conditions are met, an application is made to the insurance company, and the process formally begins.

HOW IS VEHICLE DIMINISHED VALUE CALCULATED?

Many technical criteria are evaluated together when calculating depreciation. For example:

  • Vehicle age
  • Mileage
  • Extent of damage
  • Replaced parts
  • Market value
  • Fault ratio

In addition to this, each case is evaluated separately. Therefore, there is no fixed amount for depreciation.

WHY SHOULD YOU MANAGE THE PROCESS WITH A LAWYER?

Insurance companies often offer low settlements. As a result, vehicle owners may not receive the compensation they deserve.

During this process, we:

  • Prepare your application completely
  • Audit the insurance calculation from a legal perspective
  • File a lawsuit if necessary
  • Actively manage the process from start to finish

Thus, we significantly reduce the risk of losing your rights.

VEHICLE DIMINISHED VALUE LAWSUITS IN ISTANBUL

The number of accidents is high in Istanbul due to traffic density. Therefore, vehicle diminished value claims are also frequently seen.

In this context, we:

  • Make insurance applications
  • Conduct the mediation process
  • File depreciation lawsuits
  • Manage fault objections

Furthermore, we monitor the entire process regularly.

HOW DOES THE PROCESS PROGRESS?

The process generally proceeds as follows:

  1. First, we review your accident file
  2. Then, we analyze the fault ratio
  3. Next, we calculate the depreciation
  4. After that, we apply to the insurance company
  5. We file a lawsuit if necessary

This is how we manage the process systematically.

STATUTE OF LIMITATIONS

The statute of limitations for vehicle diminished value claims is of critical importance. This is because once the period expires, you lose your right to claim. Therefore, it is necessary to start the process without delay.

FREQUENTLY MADE MISTAKES

Vehicle owners often make the following mistakes:

  • Thinking they can get depreciation for every accident
  • Ignoring the fault ratio
  • Accepting the insurance offer without questioning it
  • Making an incomplete application

These mistakes directly lead to financial loss.

FREQUENTLY ASKED QUESTIONS

Is depreciation claimed in every accident?

No. The fault ratio and the damage status play a decisive role.

How much does the insurance pay?

It varies according to the vehicle's features and the fault ratio.

How long does the process take?

It is generally completed in a few weeks to a few months.

FREE PRELIMINARY EVALUATION

You can contact us to find out if you are entitled to vehicle diminished value compensation.

+90 212 284 55 66 · info@erengoncehukuk.com

Levent – Beşiktaş / Istanbul

INFORMATION

The information on vehicle diminished value contained in this text is for general informational purposes. The final assessment is made according to the specifics of the concrete case.