Motor Vehicle Diminished Value Claims in Missouri

At The Abraha Law Firm, our experienced team of attorneys specializes in handling motor vehicle diminished value claims, recognizing the significant financial impact that occurs when a car or vehicle sustains damage, leading to a decrease in its value. We understand the complexities involved in pursuing these claims and strive to ensure our clients receive the maximum compensation they deserve. Our firm is well-versed in the approach taken by the courts of Missouri and Florida to calculate the diminished value of motor vehicles, tailoring our legal strategies accordingly.

In Missouri, a diminished value claim seeks compensation for the loss in market value of a vehicle following an accident or incident resulting in damage. The courts in Missouri typically use one of the following approaches to calculate the diminished value:

1. Repair Cost Method: This method compares the cost of repairs necessary to restore the vehicle to its pre-accident condition with its fair market value before the accident. The difference between these two figures represents the diminished value.
2. Market Comparison Method: This approach involves evaluating the market value of the vehicle before and after the accident. Appraisers or experts may analyze sales data, dealer quotes, or other market indicators to determine the decline in value resulting from the accident.