PROFESSIONAL ADJUSTMENT SERVICES ~~~~ CERTIFIED AUTO APPRAISALS ~~~~

WHY HAVE A LICENSED APPRAISER DOCUMENT THE "PRESENT" VALUE/CONDITION OF YOUR VEHICLE?

INSURANCE:
The stated value you place on the vehicle at the time you obtain insurance is not necessarily the amount you’re going to collect at the time of a loss. It is up to the discretion of the insurance company what they feel is correct and accurate. Some insurance companies, on their behalf, will hire an independent appraisal company to do an evaluation on the vehicle after a loss. The question is, is this appraiser qualified to do an appraisal and evaluation on this type of vehicle? You will need all the help you can get if you’re trying to settle with an insurance company that wants to low ball you after their insured hit you. The best thing you can do is have your vehicle appraised by a licensed appraiser that has the experience in this type of vehicle before the loss and have documentation to substantiate the value if need be, in a court of law. Insurance is a form of risk prevention so is an appraisal.

Collector car insurance companies such as JC Taylor, Hagerty, Grundy, and ETS offer agreed value coverage, where the owner tells the insurance company what he feels the vehicle is worth within reason and with some limitations and the insurance company agrees to insure it for that amount. Some insurance companies require an appraisal when you request a significant amount of coverage or you increase your coverage.

DONATIONS/GIFTS:
Did you know that in 2005 the IRS changed the requirements governing the donation of automobiles and collectibles? Now, if you donate them to a charity you can only take a tax-deductible donation for the actual value the charity receives when the vehicle is sold at auction. This assumes the people involved will get that valuable piece of information back to you in the correct format and that your vehicle is sold at the correct type of auction for the best possible price. You can also receive appraised value if the charity uses the vehicle or gives it away to a needy family.

However, if you donate your vehicle to an automobile museum, in some instances you can get the appraised value as a tax deductible donation if they display the vehicle rather then sell it The museum should issue you IRS form 1098-c indicating intervening use. These are only examples and you should consult your financial and tax advisor to determine what is best for you.

FRAUD:
Did you buy a vehicle that was different than described or presented to you? Did you pay for some restoration work expecting one level of quality and getting much less? You will need an appraisal to pursue a legal claim.

LOAN:
Need a personal or business loan? Lending institutions will require an appraisal before loaning money using antique vehicles as collateral. These assets also increase your net worth when properly documented by an appraisal.

DIVORCE:
We will work with your attorney, if you need an appraisal for a court of law.

ESTATE:
Every one will die. Nearly every one of you will leave a vehicle to dispose of and some will leave automobile collectibles. Do the people left behind know what they are worth? With over 20 years experience as an appraiser, I can’t tell you how many grieving spouses I have seen sell for a low a price. In some instances, they simply didn’t know the value of the vehicle and, unfortunately, in others, they fell prey to unethical, unscrupulous people taking advantage of the situation. Why would you subject your grieving family members or spouse to this ordeal and potential significant loss of money when they may need it most? An appraisal may be the last gift that you can give them.

PRE PURCHASE INSPECTION:
Ever buy a vehicle unseen? Answer an ad in the newspaper, Old Cars Weekly, Hemmings, Cars and Parts, ETS, E-Bay, the Internet or elsewhere? How accurate were the pictures you received? Did you get what you expected? Potential buyers need an appraisal prior to purchase to save them time and money. Have you ever seen a notice for a vehicle for sale and became very disappointed when you actually saw it? Getting a qualified appraiser to look at the vehicle can save you time and/or an expensive trip. A pre-purchase appraisal will also give you bargaining power and leverage to negotiate the price.