This tool offers an estimate of the reduction in a vehicle’s market worth following an accident where it has been repaired. The calculation typically considers factors such as the vehicle’s pre-accident value, the severity of the damage, and mileage. For example, if a car worth $20,000 sustains significant damage and is subsequently repaired, the instrument might project a loss of several thousand dollars due to its accident history.
The utilization of such an estimator provides advantages by offering a baseline for negotiation with insurance companies. This can provide a better assessment of overall losses. Historically, calculating this loss required expert appraisal, but these instruments offer a more accessible and immediate initial valuation. These calculations assist in establishing fair compensation, acknowledging that repaired vehicles often sell for less than those with no accident history.
