Vehicle Value Loss

Jan 1, 2024

Vehicle Value Loss

by Uçarer Law and Consultancy • 1/1/2024, 12:00:00 AM

What Is Vehicle Value Loss?

Vehicle value loss refers to the decrease in market value of a repaired vehicle after a traffic accident. In other words, it’s the difference between the vehicle’s value before the accident and after repairs. Even if the vehicle is repaired, its market value drops because the damage record is entered into the TRAMER system. To check a vehicle’s past damage history, simply send the license plate number (with no spaces) via SMS to 5664. Even if the plate has been changed, the system identifies all previous damage and sends the result to the inquiring phone number shortly.

How Can Vehicle Value Loss Be Collected?

Vehicle owners can claim the value loss from the owner, insurer, or driver of the at-fault vehicle. This claim can be made in three ways:

1. Application to the Insurance Arbitration Commission
2. Enforcement proceedings
3. Filing a lawsuit in the Commercial Court of First Instance

The fastest and most practical way is applying to the Insurance Arbitration Commission. Applications are concluded within four months and the decisions carry the force of a court ruling. Applications can be made personally or via a lawyer.

No-Fault Condition

Not every traffic accident qualifies for vehicle value loss compensation. The vehicle must be completely or partially not at fault. Factors such as mileage, second-hand market value, and the specific damaged parts also affect the value loss amount. The limitation period is two years from discovering the damage.