telcoman

This post about diminished value has had me thinking about this since I first read it along with the replies.

Diminished value actually occurs as soon as you drive out from the dealership and diminished value continues every single day that you own a vehicle.
Most vehicles are a depreciating asset.
Granted some vehicles will have a higher percentage resale value than others after a given period of time but for the most part depreciation begins on day one of ownership.

Here is a sad Infiniti story in the Saturday New York Times for those that may have missed this.

http://www.nytimes.com/2013/03/16/ny...ones.html?_r=0

Diminished value increases if you don't park your vehicle in a garage but leave it outside on the street. An accident or minor door dings just accelerate diminished value.

If you are putting on fancy wheels or expensive mods you may be just inviting thieves if you park outside on the street.

Telcoman

Rochester

iTrader: (9)

Yes, all that is true. But you're talking about depreciation, which is different. This speaks to immediate diminished value as a direct result of damage repair associated with an insurance claim.

It's funny (to us) that fancy wheels and expensive mods actually devalue a car more than otherwise, but that's the world we live in as car enthusiasts.