There are 3 components to a professional (and valid) car appraisal which include ;
- The appraisal company must be an approved car appraiser by the insurance company. Most auto insurance companies usually accept car appraisals that are conducted by an approved auto appraisal company. Ensure that your car appraiser is certified by an insurance company, this will help guarantee effectiveness and efficiency.
- The auto appraisal must be done on-site: A professional car appraiser will carry out the car appraisal at your location; this is to ensure that the car is well inspected. Failure to do an on-site evaluation is an indication that the insurance companies can’t work with the results of the car appraisal conducted. A professional car appraisal is said to be done when an auto appraisal company adequately inspects and take photos of the exterior, interior, engine compartment and the manufacturer’s plate VIN number. A car appraisal done by a professional auto insurance company is required by insurance companies to enable them have adequate information on the vehicle they are providing insurance cover for. It is important to note any upgrade, modification, or custom feature is also very important. Also pictures of work orders, invoices or historical certificates should be taken to provide detailed information about the vehicle.
- An auto appraisal company must have many years of experience: Your car appraiser must be experienced in conducting car appraisals, as this will enable you get a professional car appraisal report. This report will enable you have the true fair value of your vehicle practically established.
What Determines The Appraised Value Of A Car?
There are numerous factors that determine the value of a vehicle and some of these factors include;
- Type and exact model of the vehicle.
- Custom features (which can either be a total custom fabrication, a frame-off, a ground-up rebuild or just mildly personalized).
- Caliber of work performed.
- Money spent.
- Extent of modifications.
- Components used.
- General appearance.
- Uniqueness of the vehicle.
A custom car is most likely going to be costlier than an externally similar car designed by typical mechanic. Value is usually judged based on the visible features, as most car appraisers add values only on the things they see. The interior of a car also goes a long way in determining an appraisal report, components like the seat belts, trim, material, accessories are used as a key factor when conducting a car appraisal. The exposure and notoriety of a car is also a crucial factor used in determining the value of a car.