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Diminished Value

Automobile market value may not be the same after a collision and a proper repair. The diminished value of the car is the difference in the market value (actual cash value, or ACV in insurance jargon) before the collision and repair minus the market value after the collision and repair. The basic idea is that buyers will pay less or avoid buying a car which has been damaged and repaired. A diminished value lawyer can help evaluate the loss in market value with a reputable and reliable appraiser, and dealing with the insurance company to maximize the diminished value settlement.