1. Why do I need an auto appraisal?
Auto appraisals are important in order to know exactly how much your vehicle is worth. This is especially important for car enthusiasts and collectors who use the appraisals for insurance, tax and estate planning purposes. For standard vehicles, the importance of an appraisal is for insurance purposes and knowing how much your car is worth before and after an accident. It can also be used to determine how fast your car depreciates in value.
2. What is diminished value?
Diminished value refers to the loss of value a car sustains after an accident.
3. How long does an appraisal take?
Comprehensive car appraisals can take up to 3 weeks, depending on the amount of work already being handled. A regular tract appraisal can take as little as 5 business days.
4. How long is an auto appraisal valid?
Most auto appraisals are valid for one year.
5. Can an auto appraisal affect my insurance?
Yes. In most cases insurance companies take a book value. In other cases there is a stated value which uses the appraisal value.
6. Can you inspect my vehicle before I buy it?
Yes, we can do reports for out of state purchases, or we can have it done locally.
7. Why is an appraisal important after an accident?
If it was not your fault, an appraisal is important after an accident to determine diminished value after the damage the vehicle sustained.
8. What is Book Value?
Value guides that are used in the industry to determine an estimated value.