How to Calculate Vehicle Depreciation for Scrap?
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In real life, vehicles depreciate. For example, after being involved in a collision and sustaining damage, even if the vehicle is repaired, it will immediately lose value and will not be worth the same as before the accident. However, this type of compensation is not covered by insurance. Both parties can resolve the matter privately. Additional Information: Relevant Regulations: According to Article 117, Paragraph 2 of China's 'General Principles of the Civil Law': 'Anyone who damages the property of the state, a collective, or another person shall restore it to its original condition or compensate for the loss at its estimated price. Any citizen whose property is damaged by another person has the right to claim compensation for the loss.'