How Much Does a Car Appraisal Cost?

How much does a car appraisal cost?There are a variety of reasons why a vehicle owner might need to have a car appraised. You may need to establish an accurate value for a vehicle you wish to sell, or perhaps you need to know the value of a car for insurance purposes. Other owners may require an assessment of value as part of an inherited estate, or as part of a divorce settlement. Why you need to have your car assessed can be an important factor in determining what type of appraisal you need and how much that appraisal will cost.

In general, a vehicle appraisal will cost somewhere between $375 and $750, although the cost can be higher for custom and modified automobiles. In such cases, higher prices reflect the time and attention to detail required to properly research and document a custom-built vehicle. Antique and vintage automobile appraisals require extensive knowledge and involve careful documentation and evaluation. The value of a classic or antique car is important for insurance and estate purposes, and is crucial in the sale process – most collectors will tell you that the higher price associated with a skilled and experienced classic auto appraiser is well worth it in the long run.

The value of your car and the reason you choose to have it appraised are key factors in determining the cost of an auto appraisal, but you will also need to consider travel. If you bring the car to the agent, your appraisal will usually cost less than if the agent must travel to the car to complete the inspection. Dealerships will often claim that they are cheaper than a professional appraiser simply because you can bring your car to them, but it’s important to remember that a dealership appraisal is usually offered as part of a trade-in for a new sale, and such an appraisal may not reflect the fair market value of your car.

It’s not surprising to find that the more research needed to appraise a car, the more likely the appraisal will be more costly. Likewise the more documentation you need to include in the appraisal, the higher the fee will be. Classic cars, luxury vehicles, and custom automobiles will usually cost more to appraise, while a simple market value range on a late model vehicle may not require the same in-depth research and paperwork.

How much does it cost to have my car appraised?If you are objectively honest about your car and have some knowledge of vehicles, you could opt for an online estimate. Such an appraisal is a ballpark value range based on your description and will not provide documentation or certification. Furthermore, if you are selling or trading a vehicle, the other party may well require a more in-depth inspection before purchase.

While it may be tempting to choose a cheaper appraisal or opt for the online option, you may end up needing the services of a professional in order to get the appraisal you need. A professional appraiser will provide documentation that can be used in a variety of situations and is usually accepted as a valid establishment of value. A certified auto appraisal can be used in insurance claims, divorce settlements, classic auto sales, bank loans, estate valuations, and many other situations, while cheap or online appraisals may not be recognized or accepted, and may end up costing you more money in the end.

An improperly appraised vehicle can cost you hundreds or even thousands of dollars in potential value. Appraisals that overvalue your vehicle can cause you to be accused of fraud when you make an insurance claim, and undervalued vehicles can prevent you from receiving the compensation you deserve. Inaccurate appraisals in estate and divorce settlements can leave you with less than you should receive or leave relatives with tax payments they aren’t prepared to make.

If you are in need of a car appraisal, contact Auto Appraisal Group! We can help you determine what kind of appraisal you need and save you money, both at the time of the appraisal and in the future!

What Happens to Vehicles During a Divorce?

What Happens to Your Vehicle During a Divorce Settlement?Divorce is always difficult, particularly when couples try to decide how assets should be distributed to each party as part of the settlement. Property is usually equally distributed between two parties, but how do you split a vehicle two ways? Most people know that a lawyer is necessary to make sure that all agreements are fair, equal, and well documented, but you may not realize that it is also wise to have your estate evaluated and professionally assessed to properly account for assets that are difficult to divide.

In a typical divorce settlement, one party will take the vehicle and give the other party an equal share of the property in return. This can be complicated if the vehicle is worth a substantial sum or if there isn’t enough property in the estate to equally compensate the other partner for the vehicle. Some auto owners may be forced to sell a valuable car or collector vehicle in order to adequately split the value.

Property Distribution Appraisal by Auto Appraisal GroupMatters can be further complicated if the value of the vehicle is ambiguous or undocumented, as is often the case with antique vehicles or hobby cars. If a value cannot be determined and agreed upon by both parties, there can be disputes about the vehicle value that can make it difficult to reach a settlement. An independent value appraisal is an excellent way to establish what the car is worth. A certified independent appraiser can establish a fair, universally agreed-upon value for the vehicle, which can help to smooth out discrepancies during the divorce settlement process.

Even if you never intend to divorce your spouse, a certified auto appraisal performed by an independent appraiser can protect you any time that the value of your vehicle may come into question. This can be useful in insurance disputes, estate settlements, and sales, and should you find yourself in need of a divorce settlement, your appraisal will make the process much easier for all parties involved.

Expert Testimony from Auto Appraisal GroupFor over 30 years AAG has provided an independent vehicle appraisal service that can determine the current value of a vehicle for the equitable distribution of property during a divorce settlement. AAG can also provide expert witness testimony in support of our automobile appraisals. If the other party chooses to dispute the value of your vehicle, the documentation and witness testimony provided can help you to expunge any confusion about how that value was determined.

Whether you are beginning a divorce settlement or merely want to document your vehicle accurately as part of your estate, give us a call and find out how easy it can be to protect the value of your car.