What is Vehicle Depreciation

The issue of vehicle depreciation is addressed from multiple different aspects in terms of insurance and insurance companies. However, before explaining the damage depreciation details, it is necessary to examine and understand the concept of depreciation a little. Although a clear definition has not been introduced to the concept of vehicle Decommissioning among the laws specified by law in our law, it is possible to say that it is carried out in accordance with the demands based on certain considerations.

With the Compulsory Financial Liability Insurance of Motor Vehicles on Highways, the insurer becomes a joint partner in the responsibilities of the owner of the vehicle that was defective during the accident, severally, that is, in a chain. 1409 of the Turkish Commercial Code No. 6102. according to the article, if a loss of value occurs during a traffic accident, the traffic insurance institution, which is affiliated with the defective party, is obliged to cover both the damage and damage caused by the accident, and compensate for the loss of value, which is considered a direct loss.

85 of the Highway Traffic Law No. 2918. according to the article, or something happens to cause harm to a person bodily injury or death to the vehicle if the motor vehicle or the title of an enterprise or business under the name of this attempt is interrupted by a ticket in operation, the motor vehicle operated by the owner of the enterprise that are connected, born damages will be jointly and severally liable. Of course, the loss of value can vary according to many different nuances and factors.

To give an example about the situation, for example, a vehicle part that enters the paint process as a result of an accident does not lose value after it has an accident again. However, if the damaged parts are replaced, this may lead to a loss of value. While it is possible to derive these and similar examples, it is vital to get detailed information about the subject, conduct a thorough research and consult a lawyer specializing in vehicle depreciation before filing a loss of value lawsuit or taking any action related to damage loss collection.

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