Buying a classic car is an important investment, and you want to make sure that you protect it as much as possible. The time and effort it takes to restore a classic vehicle, not to mention the money that it takes to get it to shine again, can’t be ignored. That is why it makes sense to get a classic vehicle appraisal. The appraisal can come in handy in several instances to help protect your investment.
First, if you are considering buying a classic car, you want to know the condition that it’s in and if it’s worth the money the sellers are asking. If you can’t do the inspection yourself, perhaps because you aren’t as knowledgeable about the vehicle type as an appraiser would be or you live too far away from the vehicle, an appraiser will conduct a thorough assessment for you. Taking dozens of photographs of the condition of the vehicle, they will put their notes and pictures in a multi-page report that you can use to determine if the vehicle is in the shape you want it in before you purchase it. An oil leak or rust might be deal breakers or at least items that you can use to negotiate the price down some.
You might also want to get an appraisal if you’re selling the vehicle. This allows you to learn what the selling price should be.
Additionally, you can get an appraisal for insurance purposes. This allows you to avoid having an insurance representative appraise the vehicle for what they think is its market value. They likely won’t take into proper consideration any customizations or modifications you’ve made to it. Also, in the case of an accident where you are not at fault, getting an appraisal done after the accident can help you file a diminished value claim with the other party’s insurance company to recover the lost value of your vehicle.
Appraisals are also important for situations where the value of the vehicle is important to be known for estate, divorce, bankruptcy, financial auditing, or other similar situations. A current appraisal can help speed up these types of processes and make it easier for the bureaucratic wheels go to ‘round.
When you need a classic vehicle appraisal, give one of our experienced and professional appraisers a call. They will be there for you to give you an honest appraisal that takes into consideration the condition of the vehicle and comparable sales from our extensive database. You can relax knowing that you have all the information you need to take care of business with your classic car.