Quote:
Originally Posted by Mindflux
I have GAP.
Diminished Value is compensation for the fact when you go to sell the vehicle it's worth less because it's not all factory condition. The bumper may not be OEM (if they replace it) and the paint may not be a precise match. (I've seen some real bad paint work). To top it off the wreck will forever be on carfax.
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Ok, I was thinking if it was a wreck that was bad enough that it totaled the car, you would get shortchanged on what the insurance company would write you a check for compared to what you actually owed.
Never heard of the diminished value aspect, but I guess it just makes it all the reason more to drive it til it dies now.