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Thinking of buying a collector car?

 

We recently conducted a Pre-Purchase Inspection and Fair Market value appraisal on this excellent 1956 Ford Thunderbird leaving its owner of 53 years and relocating across the country.

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Whether you are buying a collector car from a dealer or private seller, and have the possibility of bringing in an appraiser to look at the car, it really behooves you to do so.  

An appraiser acts as a second set of eyes that will make sure the car is exactly as described in the dealer’s sales literature or private owner’s claims. An appraiser also functions as an important reality check: reining in your emotions is important to make sure you’re not overcome with the excitement of getting a classic car and end up with an overpriced toy needing more work and money than you’re comfortable with. Additionally, an appraiser can run similar year, make, model, condition and mileage comps that have recently sold to determine the accurate current Fair Market Value (FMV). 

To find a good appraiser, ask for recommendations at local car clubs or classic car dealers.

In addition to hiring an appraiser, you will also be well served by taking the car to a mechanic who can make sure it runs correctly too.  Engine compression and/or leak down tests are worthwhile investments.  Happy hunting!

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If you have tried to obtain a financing loan on a vehicle, say, 10 or more years old, you may have found that the lending institution won't do so without a current fair market value appraisal. In addition to financing, we provide diminished value and prior-to-total loss appraisals. Call/text 786-853-0711 for more info.

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Depends on the value of the car. If it's a “regular" 20 year old car, then you won't be able to get a normal auto loan. Once most cars are even 10 years old they are worth basically nothing to a bank. There are alternative financing sources, however, and most of them will require a Financing Auto Appraisal to determine the Fair Market Value of the vehicle. Need an appraisal in South Florida for car loan? We can help! Call text 789-853-0711

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Pre-purchase inspection: Just need someone to kick the tires? Pre-purchase inspection: Just need someone to kick the tires?

Buying a vehicle long distance and you don't need a full pre-purchase inspection with a 25 page report and 40 photos? If all you need is just someone to kick the tires and confirm that the vehicle is basically as the seller represented it, we can help! We've been kicking tires for over 50 years, and we're good at it! Call/text 786-853-0711 to get your tires kicked!

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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!

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Thinking of buying a collector car?