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"Beyond
the Shadow of a Doubt... |
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The
Value of Car Appraisals" |
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| If
something happened to your car today, would you be confident
you'd recover its true value? You would if
you'd secured a certified, stated-value appraisal
for it! |
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| The
appraisal calls for a physical inspection which is
based on the overall condition of the vehicle.
It takes into account the mileage and the use or
abuse that the car has had, said Mr. Strong, owner,
Suncoast Appraisals. |
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| "It's
a service that does not cost, it pays. In the
long term it can pay off sometimes
double-fold," Strong explained.
Surprisingly, the fee for such an appraisal is
nominal. Of course, the appraisal's economical
fee and overall worth have new meaning when there is
a loss. |
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| However,
a person doesn't need to wait until it's too late;
in fact anyone may request an appraisal, including
individuals, lawyers, insurance agents, tax
accountants and bankers. |
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| Regardless
of who requests the appraisal, there are several
facts a consumer needs to know. |
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| A
properly-conducted appraisal includes photographs
from the car's right-front side and the
left-rear. The importance of this feature
comes to light, he said, at the time somebody
reviews the appraisal: They then have
knowledge - at the time of that appraisal - of what
kind of physical damage, if any, existed previously.
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| "Everything
we do has to be realistic because we are
court-appointed witnesses," he said. |
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| Details
of the appraisal include: the identification of the
car's year, make, model, vehicle information number
(VIN), engine size, optional equipment,
transmission, actual mileage, mechanical condition,
tires' condition, chrome, glass, finish, vinyl top,
convertible top and the car's interior. |
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| The
appraisal is completed with a disclosure of the appraiser's
source of data (private and national publications
used and the local competitive market
analysis.) Finally, a "special comments section"
identifies whether the vehicle is rare and
collectable, gives the car's current market value
and states whether the car is 100% original or
restored and if it has had any prior physical
damage. |
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| Additionally,
independent appraisers are bonded and insured; their
credentials include the fact that they have
extensive libraries containing many books that
reference the history and worth of automobiles; most
have had experience as full-time collectors and auto
buyers. In addition, they are qualified,
expert court witnesses. Strong has said he
fits into all those categories. |
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| When
a person couples the appraiser's credentials with
the extensiveness of the appraisal, it is easy to
see that a win-win situation is created.
Certainly, it is a way to prove and see to it that
you or someone else's investment reflects its
realistic value. |
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