Vehicle Appraisals

 

We offer different types of appraisals to provide our customers with what best fits their needs; these appraisals are listed below. If you are not sure what type of appraisal you need or have questions, please contact us. 

 

Our appraiser is certified in accordance with the Bureau of Certified Auto Appraisers and is licensed with the Independent Appraisers Certification Program. Our appraisals are accepted by credit unions, banks, insurance companies, courts and the Internal Revenue Service.

 

All of our appraisals comply with the Uniform Standards of Professional Appraisal Practice, which is the generally recognized ethical and performance standards for the appraisal profession in the United States.

 

Our service area is within 165 miles of Nephi, Utah. We have a surcharge of 60 cents per mile for round trip travel in excess of 100 miles. Our online service area is within the United States. A 25% deposit is required on all appraisals.
 

Standard Vehicle Appraisal $275

 

The most common appraisal is the Actual Cash Value appraisal. Actual Cash Value is the fair or reasonable cash price for which a vehicle could be sold in a certain market, in the ordinary course of business, and not at forced sale; the price it will bring in the fair market after reasonable efforts to find a purchaser who will give the highest price. Actual Cash Value appraisals are most commonly obtained by people who are buying a car, selling a car, or donating a car (to write off the donation value on their income tax return). These appraisals are also requested by banks, financial institutions, bankruptcy courts, divorce courts, attorneys, and insurance companies. Our standard vehicle appraisal consists of evaluating the vehicle’s four major areas: the engine compartment, interior, exterior and undercarriage. Photographs are used to document condition, cleanliness, any modifications, quality of any previous repair work, and current damaged items. We communicate with the owner to obtain relevant information which could affect the vehicle’s value, such as ownership history, service history, and prior damages and repairs. We reference value guides, such as NADA (National Automobile Dealers Association), KBB (Kelley Blue Book) and Manheim Auctions to aid the appraisal process; these guides are merely a starting point. Information is obtained from multiple reliable sources: we use current market data to research comparables listed values and sold values, and within the geographic location of the vehicle (sometimes it’s necessary to research nationwide for rare classic and collector cars). Our appraisals are presented in an easy to read report, which summarizes how we determined the appraised value.

 

Classic/Collector/Custom Vehicle Appraisal $375

 

Classic, collector, and custom vehicle appraisals require much more in depth research than a standard vehicle appraisal. One of the biggest challenges is finding enough “like” comparables due to their rarity and/or custom modifications. Determining classic vehicle history is also more difficult and time consuming due to not having access to the many vehicle history reports that are available for newer vehicles, and because of their age, there is more history to figure out.

 

Many custom, collectible, and classic vehicle owners obtain an appraisal just to determine how much their car is actually worth. Having an appraisal comes in very handy if their car is in an accident due to someone's negligence and a diminished value claim is desired, because it states how much the car was worth prior to the accident.

 

Most insurance companies will pay what they believe is actual cash value (not a professional appraisal) if there is a total loss of the vehicle. This value is typically obtained by referencing used car value books like KBB or NADA. To be properly protected you need an Agreed Value insurance policy. Agreed Value insurance policies are based on a professional Actual Cash Value appraisal. 

 

Diminished Value Vehicle Appraisal $350

(Classic/Collector/Custom $450)

 

If you are in an accident resulting in damage to your vehicle, and you are not the at-fault driver, you are most likely entitled to file a diminished value claim. Not all states are the same in regard to diminished value claims. Utah is a diminished value state with a statute of limitation on diminished value claims of 3 years. Utah also has uninsured motorist coverage for diminished value, if the at-fault party is not insured, and you have Uninsured Motorist Property Damage coverage, you may recover the diminished value from your insurance company. You can’t file a diminished value claim if you were the at-fault party of an accident. The damage must be from a collision that can be repaired; total-loss claims are not eligible. Also in Utah, if there is an injury claim associated with the same accident, it must be handled together at the same time of the diminished value claim.  

 

Whenever a vehicle is damaged, it is never worth as much as it was prior to the accident. It does not matter how well it was repaired, its Actual Cash Value has declined. If your vehicle is not repaired correctly it further compounds the diminished value. It’s important to have repairs done correctly at a competent facility. Nobody will pay the same price for a vehicle with damage history compared to one that has not been in an accident. This damage history will forever be on vehicle history reports such as Carfax, AutoCheck, and others. A professional appraisal is required to prove how much less your vehicle is now worth. If a portion of the diminished value claim is not paid by the associated insurance company it can usually be written off on your income tax return’s itemized deductions using IRS Form 4684. Also, the cost of the diminished value appraisal can be deducted on your income tax return.

 

Online Standard Vehicle Appraisal $175

 

Online appraisals are available if you live outside our service area. These appraisals can’t be used for legal, pre-purchase or insurance dispute purposes. Besides that, they are essentially the same as our standard vehicle appraisal. We will need specific photos and information. 
 

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Online Classic/Collector/Custom Vehicle Appraisal $275

 

Online appraisals are available if you live outside our service area. These appraisals can’t be used for legal, pre-purchase or insurance dispute purposes. Besides that, they are essentially the same as our classic/collector/custom vehicle appraisal. We will need specific photos and information. 

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Standard Pre-purchase Vehicle Appraisal

115 Point Assessment $375

(Classic/Collector/Custom $475)

 

This appraisal incorporates everything in our standard vehicle appraisal (or classic/collector/custom appraisal) plus over a 115 point assessment of the vehicle’s mechanical, electrical, exterior and interior components and structures.

 

Comprehensive Pre-purchase Vehicle Appraisal

170 Point Assessment $425

(Classic/Collector/Custom $525)

 

This appraisal incorporates everything in our standard vehicle appraisal (or classic/collector/custom appraisal) plus over a 170 point assessment of the vehicle’s mechanical, electrical, exterior and interior components and structures.

 

Contact us to schedule an appraisal.

 

For online appraisals:

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