Having a vehicle appraised is very similar to that of having real estate appraised in which there are several steps that must be taken, items which must be explained and of course proper methodology followed during the appraisal calculations. The USPAP or Uniform Standards of Professional Appraisal Practice outlines these standards very well for every appraiser to follow. Unfortunately there is no federal or even state requirement in many areas that require an auto or vehicle appraiser to retain a license or even a certification unlike real estate appraisers and insurance adjusters.
Steven, our owner, is certified through the ASCAA, American Society of Automobile Appraisers and all of our reports follow the USPAP guidelines and methodology in order to be accepted and approved by insurance companies, financial institutions as well as the court of law. Our appraisals have been presented in both Missouri and Illinois courts and have stood the test of time. Our appraisals have been evaluated by our industry peers as well as many other automobile enthusiast to ensure they provide you with the documentation and evidence needed to substantiate your value.
FAIR MARKET VALUE
Fair Market Value Appraisals provide you with a value in which a particular vehicle may be listed and sell for in an open market such as a classified ad or online listing. The comparable listings are then also averaged into the current market data by reliable sources to find a true average and fair market value based on the vehicle's condition, options, mileage and history. Fair Market Value appraisals are often required by courts, insurance companies, financial institutions, loan officers, attorneys, sellers and buyers as well as probate courts. In short, a Fair Market Value Appraisal provides you with the actual value of the vehicle as it sits and what someone may be willing to offer for it.
Replacement Value Appraisals are often required by an insurance company to substantiate a value in which it would cost to replicate or replace a particular vehicle. Replacement value appraisals take many factors into consideration such as the fair market value, current cost and availability of parts, history of the vehicle, build quality and craftsmanship. Each of these items are compared to other vehicles on the market during the fair market value and what it would cost to fully replace the vehicle. Replacement Value Appraisals often result in a much higher value compared to a fair market value however often would not sell for the appraised replacement value.
Diminished Value Appraisals or DV as it is sometimes referred to is a type of appraisal which nobody wants to have to write. A piece of property or vehicle inherits a diminishing of value after an accident or major repair or even a poor previous repair. Diminished Value Appraisals are often sought after through lemon law, misrepresentation claims, legal cases, insurance claims and auto dealer or repair fraud cases. The benefits and meaning of a Diminished Value should be discussed with an attorney prior to requesting a diminished value appraisal. We hope to not have to meet you under the circumstances but if you need us we are here for you.
WE HAVE YOU COVERED
Because of Steven's experience in automotive, HD commercial trucks and recreational vehicles we are able to provide you with a wide range of vehicle appraisal services. We are capable of inspecting and appraising commercial trucks, RVs, motorhomes, campers, 5th wheels, used cars, light trucks, luxury cars, exotic and high end cars as well as classic cars, antique vehicles, collector cars and muscle cars. The only vehicles we do not appraise and that is kit cars.
CAR AND TRUCKS
HIGH END EXOTIC CARS
CLASSIC & ANTIQUE CARS