Getting an appraisal for your classic car is a very wise decision for anyone who has invested a small fortune in time or money acquiring or restoring the car of their dreams. An appraisal will make your classic car ownership experience more satisfying and secure.
You have just spent thousands of hours and countless nights and weekends creating your labor of love, a classic car. One of the most important things you do once you acquire or finish restoring a classic car is to get an appraisal. Let me offer you the most important reasons for getting a classic car appraisal:InsuranceIf you have a house fire, or fire in your garage, your insurance company will not pay replacement value. Also in the event of an accident, the insurance company will not pay replacement value. An appraisal will provide documentation to an insurance company as to the value of your car, and therefore, making it easier for you to obtain insurance.Estate PlanningIn the unlucky event of your demise, your children or heirs will have a statement as to your cars worth. This will assist them in settling and liquidating your estate.Selling Your Classic CarAn appraisal by a qualified individual is always a good thing to have when selling your classic car. Your potential buyer can contact your appraiser to verify your claims. Like any car purchase, it is smart to maintain all paperwork regarding scheduled maintenance and repairs to help justify your offering price.Obtaining A LoanThere may be times when you will need to use collateral for another purchase, maybe another classic car. You can use your written classic car appraisal to help you get a loan.Buying A Classic Car There is nothing worse than the realization you just got ripped off by a dishonest seller. Before you purchase a classic car, an appraisal can help keep you from paying too much, and, uncover any unseen or undisclosed defects present in the classic car. A classic car appraisal will normally consist of an evaluation of the cars exterior, interior, mechanics and accessories. The appraiser will factor in data from various classic car guides, auction results and retail and wholesale sales of similar model cars. By taking this extra step in getting an appraisal for your classic car, you are saving yourself from a lot of headaches in the future and keeping the fun in classic car ownership.
Ross Bassette is an experienced metal worker and an avid collector of hot rods and classic cars. If you enjoyed reading this article, please feel free to visit our website and search for your four-wheeled dream. Hot Rods For Sale