|AUTOMOBILE APPRAISAL FACTS - BANKRUPTCY, ESTATE DISSOLUTION, FINANCING, A CHARITABLE DONATION, INSURANCE AND DIMINISHED VALUE|
The many different types of vehicles we appraise for bankruptcy, estate dissolution, financing, charitable donations for tax deductions, insurance, valuation disputes, purchase & sale and diminished value have made the process so much easier for vehicle owners, prospective buyers, attorneys and executors of estates. They include antique, exotic, custom and modified cars as well as regular commuter cars. You can hire us to appraise a heavy truck, luxury RV, customized motorcycle, boat, farm machinery and construction equipment. Not only does our experience assure expert reporting, at St. Lucie Appraisal, we recognize that each situation calls for a different type of appraisal.
In bankruptcies, court-appointed trustees typically assign a Black Book value to your car or truck. Taking into consideration the various damages and necessary repairs to the body, mechanics and interior of some vehicles, they are worth far less. A Fair Market Value appraisal assures that bankruptcy filers can keep their vital transportation for a realistic price. This fact is even more critical when evaluating larger and more valuable vehicles.
Estates are not only comprised of real estate and tangible personal property - there are usually motor vehicles involved. Appraising Fair Market Value of a classic car, RV or boat is important both for satisfying beneficiaries and to facilitate a timely disposal of the items.
Banks often require an appraisal for financing a custom car or other exotic vehicle where book values aren't readily available. Many modified cars have undergone extensive and costly rebuilds, fabrications, entertainment system upgrades and power enhancements. Restorations of antique cars are similarly expensive. These things don't always translate into enhanced value but when they do, it needs to be reflected on the appraisal.
Donating a car, truck or RV to a charity or non-profit organization requires an appraiser who makes certain the full Fair Market Value is reflected and, above all, that his comparables are rock-solid. Always check to see that an appraiser has not been disqualified by the IRS.
Many small insurers take on risk without adequate information but the larger insurance companies usually require an appraisal before writing policies on antique and customized vehicles. Examples are high-performance modified cars, restored high-end antique cars and choppers. Also, RVs and used construction equipment are types of vehicles typically requiring Actual Cash Value appraisals before insurance coverage is provided. Insurance valuation disputes are common. St. Lucie Appraisal can help to reach a fair compromise before arbitration or litigation becomes necessary.
Americans are becoming more and more aware of Automobile Diminished Value and how much less their cars are worth as a result of undergoing accident repairs. There is a good chance that your insurance agent or adjuster hasn't made you aware of your right to receive compensation for that lost value from the insurance company of the at-fault driver. Hire an appraiser who at least possesses an adjuster's or appraiser's license from one of the 50 states in order to provide a credible Automobile Diminished Value Report.
The St. Lucie Appraisal Company
P.O. Box 2700
Fort Pierce, FL 34954
Phone: (772) 359-4300
Fax: (772) 466-8400
Our rates for services are as follows:
Auto Appraisals (Donations, Bankruptcy, Divorce, Insurance Disputes) $125.00
Stated Value Appraisals (Antique & Classic Cars, Street Rods, Motorcycles, RVs, Trucks) $175.00
Auto/Truck/RV Condition Reports $225.00 and Up
Diminished Value Appraisals (Determines how much less your car is worth after accident repairs) $225.00
Personal Property Appraisals (Contents, Collectibles, Art, Antiques) $225.00 and Up
All other services and additional time when necessary $75/Hr.
Expert Witness - Court Appearances, Depositions, Mediation $225/Hr.
You may obtain appraisals for Financing, Charitable Donation Tax Credits, Collateral, Damage Claims, Equitable Distribution, Bankruptcy, Estates, Insurance Stated Value, Purchase & Sale and Diminished Value.
Appraisals of Personal Property, Art, Boats, Classic & Custom Autos, Antiques, Collectibles & Memorabilia, Electronics, Machinery, Motorcycles & Choppers, Furnishings, RVs, Trucks & Heavy Equipment.