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