Remember the old line - "If something sounds too good to be true, it usually is!" Twice this month we've done pre-purchase inspections on 'deals' for out of state buyers. Upon arrival at the '07 Mercedes, we took one look, called the customer and said "you really don't want an appraisal! Walk away!" The second, a '14 Jaguar XKR was actually pretty good, but had been in an accident and thus suffered Diminished Value somewhere in the $3,000-7,000 range. Nice car, yes! Deal, no! Protect your investment! Get it appraised!
Through no fault of the owner, this 2015 Jaguar F-Type was involved in a serious collision requiring over $11,000 in repairs. As a result, it has now suffered 'Diminished Value.' An appraisal determined that the amount of Diminished Value is $4,750, which the owner may now claim against the insurance of the at-fault driver. Whether your accident vehicle has been 'totaled' or repaired, an auto appraisal will help you settle for more $$$$
This article is actually about selling a classic car online, but every seller needs a buyer! If you are buying online, and cannot get up close and personal to kick the tires, be sure to get a pre-purchase inspection from a local Auto Appraiser. In South Florida, we can help! https://www.yumpu.com/en/document/read/63623879/selling-your-classic-car-online
When buying an older car, or one with a rebuilt or 'branded' title, most financing companies will request an independent Fair Market Value appraisal of the vehicle before approving your loan. Recently we've appraised two newer sports coupes with rebuilt titles in South Florida, a 2016 Jaguar F-Type and a 2018 Nissan GTR, and both loans were approved!