A tool designed for North Carolina motorists helps estimate the loss in resale value a vehicle suffers after an accident, even with repairs. This loss, often unseen, can represent a significant financial impact. For example, a car involved in a collision and subsequently repaired might still be worth less than a comparable vehicle with a clean history. This tool aims to quantify that difference.
Accurate assessment of this loss is crucial for vehicle owners seeking fair compensation after an accident. Historically, determining this value relied on subjective assessments. Such tools provide a more objective and data-driven approach, empowering vehicle owners and potentially aiding insurance negotiations. This objective methodology contributes to a fairer claims process in North Carolina’s specific legal landscape.