A classic auto appraisal is an important document to have when you own a classic car. It can help protect your investment in a number of ways. With an appraisal, you are armed with an independently- and accurately-determined value of your vehicle.
When you’re shopping for car insurance for your classic auto, you want to make sure that you have an appraisal in-hand. There are several reasons for this. For example, you don’t want an auto insurance representative to determine the value of your vehicle.
They don’t have the experience in classic automobiles or current market knowledge to make an accurate determination of what your car is worth. However, an experienced and professional appraiser has access to the data to reliably determine the current value of the vehicle.
Additionally, if your car is damaged, having an appraisal done, preferably before, but also after the damage occurs, is a good idea. You can prove your car’s original worth, and, if it is damaged, you can know what it was worth before and after the damage occurred. When damage happens, a diminished value appraisal can help you pay less in premiums because your car is worth less than it was originally.
Also, an appraisal can be helpful if you want to find out the condition of a car you want to buy. The appraiser can find major mechanical and cosmetic problems that you may not be able to see yourself. The appraiser can also assess the vehicle for you if you cannot be there in person to look at it.
If you want to sell your car, an appraiser can help you determine how much to sell it for. You can show the appraiser to potential buyers as proof that you are not trying to sell the vehicle for more than it’s worth.
Appraisals are also often necessary in situations like divorce, estate settlement, financial audits, and bankruptcy. With a current appraisal, you will be able to better protect yourself and your assets. If you donate your vehicle to the IRS, you will have to submit an appraisal when you do your taxes.
A classic auto appraisal can help you in a number of situations, but, most importantly, you will have the peace of mind that you know what your car is worth so that you can take steps to protect your investment. Call an appraiser today to get started!
