What makes a classic car worth more? Classic cars are unique. Many different aspects will affect the car’s value. If you are the owner of a classic car, it is highly important that you get its value appraised; having your car appraised will help you to properly insure the car and get the settlement you want if something ever happens to the vehicle. Other reasons for getting an appraisal would be if you are looking to sell your car and do not know the value, or even if you need to use the car as collateral on a loan. You never know how much more money you could receive as a result of your appraisal, that’s what makes it worthwhile to learn how to get an appraisal done on your classic car.
Do You Need an Appraisal?
When it comes to newer vehicles, it is a simple task for an insurance company to figure out how much it is worth. When it comes to classic cars, it’s not so simple. An appraisal can cost a few hundred dollars, but considering it could make the difference between you getting a settlement check for $4,000 and $10,000, it’s definitely worth the cost. Customised, rare, unique–if there is anything special about your classic car, you would benefit from a professional appraisal.
Find an Appraiser
If you are getting an appraisal done for insurance purposes, the most important part to finding an appraiser is to find one accepted by your insurance company. Otherwise, asking other classic car owners for a referral to an appraiser is the best way to go. By asking around, you will be able to get feedback from someone you can trust. If you frequent the car shows, take advantage of the opportunity and ask car owners if they had their car appraised and if they could recommend anyone. You may also be able to find a reputable company by searching the internet or flipping through the phonebook. Once you find someone you are interested in, ask them for their resume and some references. Take the time to actually call on their references and find out if previous customers were pleased with the appraisal. Also, the more experience the appraiser has in the classic car industry, the more knowledgeable and trustworthy they are likely to be.
Before you go through with the appraisal, you should find out what you are paying for; ask to see sample appraisals to get a feel for how detailed the appraisal will be. Try to avoid using a company that goes strictly off of a checklist or standard form; they may not be as thorough as others. Be sure that the appraiser is also going to take photos of your car, as having photographic proof of the condition of your vehicle is always a great idea. Chat with the appraiser to find out how much they know about your particular vehicle. An appraiser’s job is to know about the cars they are handling. If your appraiser doesn’t seem up to scratch, you may want to look elsewhere. When all is said and done, be sure to ask for two original copies of your report, one will be for your records and the other for your insurance company or anyone else who needs it.
About the author: Guest post from Sam Landon. Sam writes for several car related sites online, including CarInsurance.org.