We have a lot of discussions about #diminution of #value & what does and doesn't cause a repaired vehicle lose value, so we thought we compose some guidelines:
#Diminution in #Value can occur when a car has been crashed & then repaired, however there are many myths surrounding how this reduction is calculated. In this guide we look at some of the arguments for & against a vehicle's value diminishing: https://lnkd.in/e58HQqci
#Diminution in #Value can occur when a car has been crashed & then repaired, however there are many myths surrounding how this reduction is calculated. In this guide we look at some of the arguments for & against a vehicle's value diminishing: https://lnkd.in/e58HQqci
What causes #Diminution in #Value of a car? In this new article we explore what accident repairs can diminish a car's value & dispel some arguments that third parties use. https://buff.ly/438gCuN
Discover a hidden benefit on your credit card that rental car companies might not want you to know: collision and theft coverage for rental vehicles. Before you agree to extra insurance charges at the rental desk, check if your credit card already provides this coverage. It's an often-overlooked feature that can lead to significant savings, especially for those in industries requiring frequent travel.
Another useful tip when buying used cars is to base it on the sum insured by the current insurance company. Except for cases where willing 'smart' sellers but willing "dumb' buyers? Sellers often want to sell more than is worth. Hence, we must be smart to evaluate their current value through the market insurers. A car more than 15 years old should be worth just 12.5% of its brand-new price. That means a 100k car is only worth 12.5k on the 15th year of use. Further down 50% for every 5 years used since new. The limited edition is just a fake creation that was made by the production. So their extra higher price doesn't equal the extra higher built quality though.
Why auto repair costs are going up. Interesting article.
Have you noticed the financial impact of having a whole bunch of $65-100k vehicles on the road? It's not just those driving the latest models who are affected. Even if you're driving a 10-year-old ICE vehicle, you're still participating in the vehicle price phenomenon. Let's keep an eye on this trend and see how it develops. #automotiveindustry #vehicleprices #financialimpact #inflation #electriccar #ev
The tire speed index is one of those parameters that many drivers don’t know about. Some drivers do not even pay attention to this speed index when choosing tires, but it can be very important. Sometimes an improperly selected speed index can even lead to the fact that the insurance payment will not be paid out in the event of a car collision. What is the speed index and what do you need to know when choosing car tires? -- https://lnkd.in/dB4ebVYK
Noted a discussion on CNBC about Americans holding onto their cars longer (the average age of vehicles on the road is over 12 years). Here is another trend--the cost of vehicle repairs and newer vehicles are more likely to be totaled after an accident. #autoinsurance #carinsurance #insuranceclaims #vehicles #bloomberg #sustainability #autorepair More than one-fifth of vehicles are now declared a write-off by insurers after examining claims; this is close to a record and around five times higher than in 1980, industry participants say. The proportion of totaled cars may increase further as declining used car prices tip the scales in favor of salvage versus repair. Auction firms that re-sell wrecks on behalf of insurers stand to benefit from this trend, whereas car buyers who stretched to finance their vehicles, but scrimped on insurance cover, risk nasty financial shocks. Overall, 21% of vehicles were totaled following an insurance claim in the first-quarter of 2024. Salvage auction firm Copart Inc. says this proportion could eventually exceed 30% as various trends, including rising complexity, continue to make “repairing vehicles less economically attractive to insurance carriers,” its management said in February. https://lnkd.in/eNpEGKHW
Buying a used car? Here's your simple checklist! Make sure the seller removes the license plates. You'll have a grace period to register your new vehicle using the title and bill of sale. Don't forget to update your insurance to get proof of coverage. Follow these steps for a smooth transition into your new ride! #EVOwnership #EVInsurance #ElectricVehicle #UsedEV #EVBids
Cyber Security Solutions Architect - All views & opinions are my own and in no way reflect those of my employer.
Here is this claim again about ICE cars having 2000 moving parts. "Ben Townsend, head of automotive at Thatcham Research, the data company behind VRR, insisted that not all EVs would be more expensive to insure than ICE vehicles, pointing out the average EV has around 20 moving parts, compared to “more than 2,000” in a petrol or diesel car" WHERE are the 2000 parts ?? I have been fixing cars for 40 years PLEASE tell me where these 2000 parts are. Somebody ?? A 4 cylinder engine has Engine 2 x camshafts 1 cam chain or belt 1 cam chain tensioner pulley 1 cam chain idler pulley 1 Aux belt tensioner pulley 1 aux belt idler pulley 1 crankshaft pulley 16 valves 16 cam followers 16 valve springs 4 pistons (rings move with the pistons) 4 conrods 4 gudgeon pins 4 main bearings 5 crank bearings 1 crankshaft 1 oil pump 1 water pump 1 alternator 1 starter motor 1 clutch plate 1 Pressure plate 1 Flywheel = 85 moving parts The average 5 speed manual gearbox 1 lay shaft 1 driven shaft 9 gears 6 bearings 4 selector forks 2 synchro rings 2 shift levers = 25 moving parts Total. = 110 moving parts The rolling components of an EV and ICE chassis are identical So where are the remaining 1890 moving parts ???
