Appraisal
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This of course raises the question.......how does one compare the appraised
value and the cars value in the market place ???
For insurance purposes for some items, the appraised value is needed; but I
wonder if for cars it serves a useful purpose, especially if the car is not a
collector item.
Not trying to be awkward.....but just wondered.
Tony
welland
value and the cars value in the market place ???
For insurance purposes for some items, the appraised value is needed; but I
wonder if for cars it serves a useful purpose, especially if the car is not a
collector item.
Not trying to be awkward.....but just wondered.
Tony
welland
I have no idea. In this case he takes several samples from the market. I was very suprised by the value......
i needed an appraisal when i bought my shark for ownership change and insurance purposes. a small local used car dealer did it and came within 300 bucks of what i paid for it and only charged me 35 bucks. sometimes a high appraisal can lead to disappointment when selling versus true market value.
I was just happy with his remarks.....I have no illusions on selling, let alone for such a high amount. It is a good thing to provide to a prospective buyer though.
My appraiser has a lot of magazines and papers with with sales results in them. He looks at what cars similar to yours go for and sort of boils it all down to a number. Then there is agreed value. With that, you and the insurance company agree on a pay out value for your car. You can be sure that insurance companies are not going to give you $50k for a $10k car. When Pat appraised our old Chevelle back in 1998, he was very close to what I had into the car. You don't need a flowered up $300 appraisal either. The insurance companies have better things to do that read page after page of trivia. At least that is what one insurance company guy told Pat.
