A tool that allows individuals to estimate the loss of a vehicle’s resale value after an accident, at no cost, is a valuable resource. For example, a car involved in a collision, even after repairs, might be worth less than a comparable vehicle with a clean history. This difference in value is often referred to as diminished value, and such tools provide an initial assessment of this potential loss.
Accessing this type of resource empowers vehicle owners to understand the financial ramifications of an accident. Historically, determining this loss required professional appraisals, which could be costly. Online tools offer a preliminary estimate, potentially saving time and money, and allowing individuals to pursue appropriate compensation from insurance companies or responsible parties. This knowledge can be crucial in negotiations and claims processes related to accident-related damages.
