You have a vehicle that means a lot to you. That’s enough, but it also helps to have some idea of what it’s worth today. One of the best ways to find out is to seek the services of a reputable auto appraisal company and have them check it out. Here are some of the factors that the appraiser will look a closely.
The Age of the Vehicle
What year was the automobile manufactured? This can mean a great deal, since it provides insight into the types of materials used originally. It’s also helpful, since there are certain years for different vehicles that are considered higher in quality than others.
Don’t assume that just because the car is of a certain age that it automatically makes it valuable. A year that was considered to be a less than stellar one will mean it may not be anywhere near the value that it had when first made. At the same time, a good year could mean that what the car is worth today exceeds the original sticker price.
The Make and Model
There’s no doubt that certain makes and models have remained popular as the years pass. It could be that your vehicle happens to fall into that category. When it was one that was highly regarded when it first rolled off the assembly line and remains one that authorities consider among the best, then you may find it’s worth a great deal.
When combined with the year, the make and model will provide valuable information about what the car is likely to be worth. Together, these factors may provide a starting point for the appraiser to make an assessment. What follows may increase or decrease that estimated value.
The Condition of the Vehicle
How well is the vehicle maintained? Is the engine and transmission in top shape? How about the body? Does the interior still look nice? When possible, are you using original parts for any repairs? All these help to provide a basis for evaluating the condition of the vehicle.
The mileage on the engine is another factor that goes hand in hand with the general condition. Simply put, excessive mileage may indicate that the car should be valued for less. When the mileage is considered reasonable for a car of that age and style, the appraiser with the auto appraisal company will likely assign a value that’s a little higher.
Ongoing Demand Vs The Available Supply
You may look around and see quite a few of the same year, make, and model on the road today. That’s good news, since it indicates the vehicle is one that’s built to last. At the same time, it doesn’t tell you much other than the fact that a lot of people are choosing to hand on to their vehicles.
The appraiser will consider the current demand on the market versus the supply. If the make and model rarely comes up for sale and tends to be snapped up without much delay, that indicates a high demand. In that case, your vehicle is likely to be assigned a higher value.
Even if you have no plans to sell the vehicle, an appraisal is a wise investment. Along with knowing what the car is worth, you can use that information to ensure there’s sufficient insurance coverage. Call today and make an appointment. You may be surprised at what you learn.