WHY APPRAISE A VEHICLE

 

WHY APPRAISE A VEHICLE?


 

There are many reasons to know the value of a vehicle. In good times and in bad, it is always important to protect your investment(s). Jack Anderson, a Certified Appraiser within the International Vehicle Appraisers Network, is your source for high quality vehicle appraisals!

 

INSURANCE

Protect your investment of time and money!  You should decide what your car is worth, not the insurance company.  The markets are constantly changing as are the values of all collector cars.  Insurance experts recommend that an appraisal be completed every two years or 10,000 miles, whichever occurs first.  Having a current certified appraisal avoids problems later.  Important: Vehicles in your own garage for restoration are not generally covered for fire or theft under a homeowner’s policy.  Protect your investment under an “agreed value” collector car insurance policy.

 

SELLING A COLLECTOR VEHICLE

Appraisals can be extremely helpful when selling a collector vehicle.  You will have the documentation buyers want to see. Appraisals close deals!

 

BUYING A COLLECTOR VEHICLE

A pre-purchase appraisal could protect you from overpaying for a vehicle.  Jack has helped many buyers determine whether they are getting the exact vehicle as represented by the seller.  Avoid being “taken!”

 

DONATION/GIFT

The IRS requires proof of value for any substantial gift to a charity, eligible museum, foundation or other nonprofit organization.  An appraisal, along with the appropriate IRS forms signed by Jack, a Certified Appraiser, can be used to provide this proof of value.

 

ESTATE

Jack's appraisal assures that either in advance or as a condition of your will, your heirs will receive the real value of your treasured vehicles.  If you are trying to settle an estate, Jack can provide impartial valuations to help heirs determine how to divide the estate fairly.  Larger estates facing estate taxes can also protect against overpayment of taxes.

 

BANKRUPTCY

Deteriorated vehicles have lower than book values.  The courts go strictly by the book and may over value your vehicle if it is damaged or not running.  The correct adjusted value can only be presented to the court with a formal appraisal.  Let Jack help you!

 

COLLATERAL

The value of your collector vehicle can help determine your “net worth.”  Banks and lending institutions typically require documentation for loans.  Let Jack help you!

 

DIVORCE

An impartial appraisal will prevent a court or an opposing attorney from determining what your vehicles are worth.  You should be in control.  Jack can be on your side!

 

CLAIM SETTLEMENT

Jack can determine the pre-accident value of your damaged vehicle.  An appraisal in hand can fortify your negotiations with the insurance company.

 

FRAUD

An appraisal prepared by Jack can help build your case. Many a “clone” has been passed off as an original.  Jack can help determine if your vehicle was misrepresented when you bought it.

 

SUBSTANDARD RESTORATION

Did you pay for a prize-winning restoration only to find that the only prize you will win is the “booby prize?”  Jack can help!

 

DIMINISHED VALUE

“Diminished Value” is the amount by which the Resale Value of a damaged/repaired vehicle has been reduced for having sustained damage.  There are two (2) generally accepted types of Diminished Value:

INHERENT DIMINISHED VALUE assumes optimal repair quality and is defined as the amount by which the resale value of a vehicle has been reduced simply because it has a damage history.

REPAIR-RELATED DIMINISHED VALUE includes any additional amounts by which the resale value may be reduced because of less-than-optimal repairs.  This could include anything from cosmetic imperfections to major structural defects.

 

LEMON LAW

State and Federal laws provide owners with the ability to receive reasonable compensation if a defective vehicle cannot be repaired within a reasonable period of time. Jack can help determine a value for reasonable compensation.

 

Jack buys his 1955 Chevy


Click HERE to see an example of one of Jack's appraisals