VEHICLE DEPRECIATION

VEHICLE DEPRECIATION

GENERAL VEHICLE DEPRECIATION

When a vehicle is damaged in a traffic accident and taken to a service center for repair, it is reclassified as a used vehicle. This reclassification makes it difficult to sell, reducing its value and price. Therefore, to alleviate the hardship experienced by vehicle owners, compensation for the decrease in vehicle value is provided. For this compensation to be awarded, the vehicle owner must not be at fault in the traffic accident. The purpose of this compensation is to compensate the party at fault for the damage, thereby mitigating the hardship suffered by the injured party.

FACTORS CONSIDERED IN CALCULATING VEHICLE DEPRECIATION

A calculation is made by examining the make and model of the vehicle involved in the accident, the year it was manufactured, when it was first registered, the mileage it had at the time of the accident, the market value of similar vehicles at the time of the accident, whether the vehicle had been damaged before that date and, if so, the nature of that damage, and finally, by checking any previous painting work and replaced parts.

VEHICLES FOR WHICH VEHICLE DEPRECIATION CANNOT BE COMPENSATED

Damage to wheeled and armored riot control vehicles, municipal buses (public transport vehicles), specialized street sweeping vehicles, and fire trucks is not eligible for compensation for decreased value. Finally, owners of vehicles with foreign license plates who sustain damage in a traffic accident in Türkiye are also not eligible to claim compensation for decreased vehicle value.

CONDITIONS FOR VEHICLE DEPRECIATION

1. The traffic accident must be a two-vehicle accident. For example, a vehicle that crashes into a wall cannot claim the market value of the vehicle.

2 – Another requirement for a vehicle involved in a traffic accident to be able to claim compensation for depreciation in value is that it must not be 100% at fault in the accident.

3 - The vehicle must have sustained damage as a result of a traffic accident. And this damage must need to be repaired or restored.

4 – The final condition for claiming vehicle depreciation is that the repaired parts must not have been repaired due to a previous traffic accident.

One point that should not be forgotten is the statute of limitations. There is a two-year period to apply for vehicle depreciation compensation; if the application is not made within this period, the person cannot use this right again and loses their right.

PERSONS TO WHOM COMPENSATION FOR VEHICLE DEPRECIATION WILL BE REQUESTED

The owner of the other vehicle involved in the accident, the insurance company that issued the Compulsory Financial Liability Insurance policy, and the driver of the vehicle that caused the accident are jointly and severally liable. The injured party has the right to claim compensation from all three. If the vehicle owner and the driver are obliged to pay this amount, they have the right to seek recourse under their own insurance policies.

TAYYIP TASKAN/HUSEIN DOGAN