What does vehicle damage depreciation compensation mean?
1 Answers
Vehicle damage depreciation compensation refers to the compensation paid by the at-fault party to the non-fault party for the depreciation of the vehicle after a traffic accident. The following is a detailed introduction to vehicle damage depreciation: 1. Reference: There are no specific standards or regulations regarding vehicle depreciation that can be referred to. It can only be evaluated by relevant used car appraisal agencies, and the court can only use the evaluation results of these agencies as the basis for judgment. 2. Evaluation: The depreciation rate of a vehicle can be considered as the vehicle's loss rate. The determination of the vehicle loss rate has certain references in the used car industry. Since the collision severity of each accident vehicle is different, determining the depreciation rate of an accident vehicle requires not only referring to industry standards but also rigorously applying one's professional experience flexibly. Used car appraisal agencies should follow the principles of "objectivity, independence, fairness, and science" when evaluating and determining the depreciation compensation for accident vehicles. While conducting a proper evaluation of the vehicle damage depreciation compensation, it is also necessary to protect the legitimate rights and interests of the at-fault party.
