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human
What is depreciated credit value?
gpt
When an item is purchased, it devalues over time - over 6 years in England and Wales or 5 years in Scotland.

It helps retailers decide whether it's better for them financially to either repair your item under CRA, or just pay you the depreciated credit value as a contribution towards a new one

So if the getting parts and repairing would cost more than the depreciated credit value, the retailer can decide to just pay out instead if it's cheaper for them