A vehicle can depreciate if it is involved in a car accident. However, while you cannot change the fact that your car will be worth less after the accident, there are a few steps you can take to minimize the depreciation you and your car suffer after the accident. Here are three ways to minimize car depreciation after a car accident:
● Have the Damage Fixed
Following a car accident, you should bring your car to an auto body repair shop to have the damages repaired. Even if the damage is minor—a ding or dent—it can still decrease the resale value of your car. Having the damage repaired helps to increase the resale value of your car, which minimizes the depreciation you suffer after an automobile accident.
● Ensure the Repair Shop Uses OEM Parts
As you look for an auto body shop to repair your car, look for one that uses OEM, or original manufacturer equipment. Using aftermarket parts can decrease the value of your car, especially if you are planning on trading the car in to a dealership. Keeping everything original helps to maximize the amount of money that you can get down the road for your car. Always ask an auto body repair shop if they use OEM or aftermarket parts so you know which they are installing and how it will affect your car's value.
● Make a Diminished Value Insurance Claim
Lastly, be sure to file a diminished value insurance claim with your auto insurance company. If your car was involved in a car accident, the value of the car may drop by thousands of dollars. If you were not to blame for the accident, or you have full auto coverage, your insurance company may reimburse you the diminished value of your car when you file this type of insurance claim. Always be sure to check with your insurance company to find out how if you qualify for and how to go about filing a diminished value insurance claim.
Have you been in a car accident? Then let Suburban Auto Body. We offer car accident and collision repair services. Our technicians can help to ensure that your car looks as good as new after the car accident, minimizing the depreciation of your car. Call us today to schedule an appointment to bring your car in for repairs.