Have you ever heard of Diminished Value?

[kennix]

This is a poll to see how many people actually know what Diminished Value is.

[gofetch06]

yep.

[kitty]

i'm sure i've heard the term, don't know what it is, but i could make an educated guess. i'm a smart gal. i could also use google.

[acgator]

I guess I thought it was the same as depreciation. My previous car fell in that category although at the time I was oblivious about it. The car had been in an accident but I didn't know what signs to look for until some time later when a friend of mine who worked part time at Carmax told me. Sure enough I looked and discovered exactly what he said. The dealer was not required to disclose the fact that it had been in an accident and the car even had a "certified used car" sticker on it. They got me! Since then a legislator tried passing a law that dealers were required to disclose if a car had been in an accident but I'm not sure whether it passed.