tion For Lost Value On Your Wrecked Car
If you have ever been in a car accident caused by another’s negligence, you are probably well-aware of your right to compensation for your losses. Do you know that in Texas you are also entitled to a loss of value to your vehicle?
At the law firm of Cortez Law Firm, PLLC, our lawyers handle diminished value cases for individuals and businesses throughout the Dallas metro area and elsewhere in Texas. Contact our office to learn how you may be compensated for losses associated with your personal car or truck or fleet vehicles.
If your business or personal vehicle has been damaged in a wreck within the past two years, contact our attorneys to discuss your diminished value recovery options.
What Is A Diminished Value Claim?
Diminished value is a financial loss recoverable under the laws of Texas against third parties who are responsible for damage to your vehicle. The amount you may recover is the loss of value of a vehicle as a result of the vehicle being damaged in a wreck and subsequently repaired.
The amount of money you may receive as compensation is measured by the value of the vehicle immediately before it is damaged against its value immediately after the repairs are completed. For example, if your Toyota Camry was damaged in a motor vehicle collision and was subsequently repaired, that information will appear on its vehicle history report. When you try to sell or trade in your car, its retail value will be lower than if it had never been in an accident.
Additionally, the value of your loss of use is calculated by the class of vehicle you own. For example, if you had a Jaguar rather than a Toyota Camry, your loss of value would be greater. It doesn’t even matter if you drive the car or not.
Representing Texas Dealerships And Rental Car Companies
Many of our clients include large automobile companies, such as car dealerships and rental companies. As experienced diminished value case attorneys, we will handle your claim efficiently, quickly obtaining the best possible result for you and your business.
Taking Cases That Other Firms Won’t Handle
While we also handle personal injury cases, you may come to us just for the property damage portion of your claim. Our law firm is one of very few in Texas that handle diminished value cases, and we are happy to work with you and with other attorneys to help you obtain all of the compensation you deserve.