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I am so excited to report that I settled my Diminished Value claim with Nationwide for $3,000 more then what they offered me initially.
— Tonya Smith
Seattle, Washington
Public Opinion About Automobile Diminished Value
Our survey shows how a car's collision history influences its value. As you can see from the graph, any collision reduces the vehicle's value. The diminution of value is very severe if there is frame damage. These results from over 4700 respondents were updated March 20, 2009.
Assuming that the vehicle has been correctly repaired.
Question 1:
How much discount on the price of a used car would you expect if it had been in an accident with over $2000 damage, but without frame damage?
Question 2:
How much discount on the price of a used car would you expect if it had been in an accident with over $2000 damage, with frame damage?
RESULTS:
| Without frame damage | With frame damage | |
|---|---|---|
| None | 6 | 1 |
| 10% or less | 21 | 2 |
| 20% | 31 | 9 |
| 30% | 21 | 13 |
| 40% | 9 | 12 |
| 50% or greater | 5 | 11 |
| Would not buy | 21 | 60 |
