Detailed Answer
After a car accident, a repaired vehicle often loses market value. In Oregon, you can recover this loss as part of your property damages. Under ORS 31.155(1)(a), damages equal the difference between the vehicle’s market value just before and just after the injury. Follow these steps to calculate and document diminished market value:
1. Determine the Pre-Accident Value
Use reputable sources like Kelley Blue Book or NADA Guides. Enter your vehicle’s year, make, model, mileage, condition, and ZIP code. For added weight, obtain a written appraisal from a licensed auto appraiser.
2. Determine the Post-Repair Value
Once repairs finish, hire an independent appraiser who specializes in diminished value. They compare your repaired vehicle to similar models with no accident history. Expect a report that lists comparable sales and adjustments for options and condition.
3. Calculate the Diminished Market Value
Subtract the post-repair appraisal from the pre-accident value. For example, if your car was worth $20,000 before the crash and $18,000 after repairs, the diminished market value is $2,000. That $2,000 is recoverable under Oregon law.
4. Document and Present Your Claim
Compile all documentation: pre- and post-accident appraisals, repair invoices, photos of damage, and valuation report summaries. Submit these records when negotiating with the insurer or filing in small claims court. A clear, organized file strengthens your case.
Disclaimer: This article is for educational purposes only and is not legal advice.
Helpful Hints
- Obtain at least two independent appraisals to bolster credibility.
- Save all repair invoices, parts receipts, and maintenance records.
- Use multiple valuation tools (e.g., Kelley Blue Book and NADA Guides).
- Photograph your vehicle from multiple angles before and after repairs.
- Consider consulting a local attorney if the insurer disputes your claim.