How much are the rusting parts of your old car worth?
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A Texas rancher, Chuck, was on his summer vacation in the west of Ireland and decided to stop at a dairy farm just outside Galway. Chuck introduced himself to Paddy, the owner of the farm, and asked him about his farm. Paddy was more than pleased to show him around. "Here is where I grow me potatoes, green peas, cauliflower and parsnips. Over there I built a play set for the wee ‘uns, next to the shed where I keep the cows," Paddy said.
Over the years we’ve appraised 1,000s of different vehicles for all sorts of reasons. Fair Market Value Appraisals for pre-purchase and pre-sale inspections, bankruptcy, divorce, probate, and financing purposes. Replacement Value Appraisals, usually for Collectible and Exotic Vehicles, watercraft and light aircraft, for Agreed Value insurance coverage purposes, Prior-to-loss appraisals to determinine the Fair Market Value of the vehicle prior to the loss, and Diminished Value Appraisals to assess the loss in value of a vehicle as a result of an accident caused by the negligence of another.
California emissions standards are much stricter than those implemented by the EPA. The EPA is a federal government agency that oversees environmental protection matters. In 1970, congress passed the Clean Air Act (CAA). The law gives the EPA the authority to set nationwide vehicle emissions standards. But under one section of the act, California was granted the ability to seek a waiver from federal standards, thereby allowing the state to set its own stricter regulations.
If you know somebody in Florida whose vehicle was flooded or damaged during Hurricane Ian and declared a Total Loss, the Appraisal Clause in our policies gives us the right to get an independent appraisal of the prior-to-loss fair market value of our vehicle. This will almost certainly result in a significantly higher settlement from your insurance company. Call an independent auto appraiser for advice on how to proceed and ask your insurance company to invoke your right to the Appraisal Clause in your policy! Do not let your insurance company delay, deny, or underpay! Protect your investment! Hire an appraiser! For more info text or call 786-853-0711
Buying an older car has its advantages, and the purchase process is relatively easy. As simple as it is, however, it's not unusual for drivers to have questions, especially when it comes to financing. In fact, one of the most common inquiries drivers have about buying a pre-owned vehicle is, "can you finance a car older than 10 years?"
Almost everything you need to know about Diminished Value to your vehicle is in this article: https://classicmotorsports.com/articles/crash-course-diminished-value/ If you have been in an automobile accident, contact us and we'll walk you through step-by-step what you need to do to receive compensation for your loss.
As a follow-up to this post: https://southfloridacarappraisers.com/classic-car-news-and-tips/how-do-you-get-financing-on-your-branded-or-rebuilt-title-1657747143488.html? several have asked what effect a rebuilt title has on the value of a vehicle. As attorneys are known to respond – “it depends!” Comparing two identical vehicles, same year, make, model, options, mileage, and condition, the one with the rebuilt title can be worth anywhere from 20% to 40% less than the one with a clean, no accident history.
With just 200 miles on the odometer, this 2021 Dodge Durango SRT Hellcat was stolen out of the owner’s driveway at 2:30 AM, never to be seen again! Fortunately, he had comprehensive insurance with the “Good Hands” folk! Unfortunately, they wanted to reimburse him just $83,036 for his loss! Luckily, he was familiar with, and decided to invoke, the ‘Appraisal Clause’ in his policy and hired Auto Appraisal Network of South Florida to provide a prior-to-loss fair market value appraisal.
OK, the first question to address is what is the difference between a branded, salvage and rebuilt, or reconstructed title? A ‘branded’ title is any title that is not a ‘clean’ title. Both salvage and rebuilt/reconstructed titles are branded, but there is a difference between salvage and rebuilt. Can you get a loan on a vehicle with a salvage/rebuilt/branded title?