Tips For Avoiding Loss Of Value After Your Car Has Been In A Wreck
Posted on: 10 November 2018
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If you have been involved in a wreck, you might be worried about your car losing its value. Of course, cars can and do lose value after they have been involved in car accidents, but there are certain things that you can do to help you avoid losing too much money out of the deal.
Have Body Repair Done By the Right Company
The body repair shop that you choose to take your car to after an accident is important. Make sure that you choose an auto body repair shop that will do a good job in restoring your vehicle to its pre-accident condition, such as Sam's Automotive Reconditioning Center. This is essential if you want your car to look good after it's repaired and if you want to help maintain its value as well as possible. Plus, choosing the right shop for the body work will help you make sure that the repairs to your car hold up well and that your car is safe to drive.
Ask for OEM Parts to Be Used
There is often the option to purchase either OEM parts or aftermarket parts to be used when your car is being repaired. For older vehicles, it might not be a big deal to choose aftermarket parts, since the car might not be particularly valuable anyway. For cars that you want to maintain the value on as best as possible, using OEM—which are original equipment manufacturer parts—is a good idea. Make sure you mention this to someone at the body shop where you are having your car repaired so that you can make sure that OEM parts are purchased, even if they cost a little more.
File a Diminished Value Claim
Many car insurance companies pay out to have cars repaired after accidents. What some drivers don't know and what some insurance companies don't tell everyone about is the fact that you can file a diminished value claim after you have been in a car accident. With a diminished value claim, you can be compensated for the difference in your car's value because of the accident. Even though this does not prevent your car from losing its value, it will help you avoid losing any money because of this loss of value. Talk to the insurance company or the lawyer who is helping you handle your accident about diminished value claims to see if this might be an option in your situation.