How To Get An Appraisal On An Antique Car

Thom W. Conroy By Thom W. Conroy, 30th Nov 2010 | Follow this author | RSS Feed | Short URL http://nut.bz/6_f9mchw/
Posted in Wikinut>Guides>Transport>Cars

Getting a valid appraisal on an antique car is a prudent move financially.

Protect your investment

The task of getting an accurate appraisal on an antique car cannot be understated in it's importance to a car owner, and taking the time and effort to obtain a competent appraisal can reduce many future issues connected with owning an antique car. An appraisal on an antique car can impact insurance claims, negotiating a selling price and even the amount of money a lender is willing to loan for the purchase of a specific antique car. It's important to remember that the true value of an antique car really lies in the eyes and opinions of the buyer and the seller and is open for negotiation, but obtaining a good appraisal from a credible appraiser can make the transaction proceed much smoother and faster.

However, before going through the expense and time to get an appraisal on an antique car it's a smart and often time-saving move to get a ballpark idea of what a particular antique car may be worth. There are several good ways to go about this - the National Auto Dealers Association (NADA) and Kelly Blue Book both offer valid pricing guides for antique cars that can can be quite an eye-opener for both buyers and sellers of antique cars. Most often sellers of antique cars tend to overestimate their worth, while buyers can underestimate the value of an antique car. Using one of these guides as a reference can eliminate an antique car that is overpriced from consideration for a buyer and therefore save the cost of an appraisal.

To get an appraisal on an antique car the first step is to contact your state's licensing body for certified appraisers. Every state has licensing requirements for appraisers that need to be met, and by obtaining a list you can find a competent appraiser with a good track record in your local area. After contacting an appraiser of your choice they will set a time and place to examine the antique car for a specified contractual price. After their examination of the car a report will be issued to the individual paying for the appraisal stating the car's estimate fair market price, and in all likelihood it will also state the cars condition as being excellent, fine, very good, good, restorable or a parts car. To get an appraisal on an antique car from a licensed appraiser is usually the definitive word on the true price and value of an antique car, and negotiations on the vehicle price normally do not deviate far from the appraised value.

Tags

Antique, Antique Cars, Appraisal, Cars, Vintage Cars

Meet the author

author avatar Thom W. Conroy
A freelance writer living in Ohio, USA, writing on whatever topics catch my fancy.

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