More New Software. Diminished Value Calculator
I have had many requests from people wanting to buy my diminished value calculator software separately from my BodyShop Office suite. And one of the most popular keyword searches that bring people to this site is “Diminished Value Calculator.” So here it is. I’ve finally created a separate application.
In the days of Wreck Check, diminished value was a mystery revealed only to those willing to spend $10,000 on software and franchise licensing. It’s really not that complicated. My apologies to any DV professionals who may be offended by that statement.
The truth is, there is a very predictable depreciation to vehicles damaged in an accident. I learned this quickly while working for the dealership, Secor’s Auto Center, years ago. People would wreck their cars and then want to trade them in after they were repaired. I saw first hand the hit they took from diminished value and discovered the formula to for determining DV. Actually, there exists several formulas.
I first created my Diminished Value Calculator several years ago when I released BodyShop Office, my body shop management software. The DV calculator was, and still is part of that management system. As mentioned above, I received many requests to break it out into a separate application. I’ve done just that. Here is a screen shot of the software.
Like all my software, ease of use is built in. Most of the information can be filled in by using the EMS feature of your estimating software. The more information you enter when writing an estimate, the less you have to enter when writing a DV report. Just fill your company information in at the top center of the screen, browse to your EMS folder and all extracted estimates will fill the list box in the upper left corner.
Check a few boxes and calculate the diminished value. Then you can choose to print the report or email it right from the same screen. Here is a sample report.
The report is a simple and concise, one page report. It couldn’t be easier. Remember, this is for Inherent DV, or the psychological DV caused by the accident regardless of how well the damage was repaired. DV due to improper, incomplete or incompetent repairs is something different. That is something only a professional appraisal can determine, but there is a place to enter that figure in this report, along with an explanation that any estimate will be attached.
Download the software and try it free for ten days. If you like it you can purchase a registration number, if not uninstall it.
Now every shop can afford to give their customers a DV report with their estimate or final bill.
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