The Expert Podcast

One of the things that comes up quite a bit when it comes to titling older vehicles or highline or specialty vehicles is the subject of vehicle valuation. Many times, it's necessary to do an appraisal to establish a clear value for a vehicle. Sometimes the value is established too high for taxes, and you need an appraisal to show what the true value is. Other times, it’s the opposite, where someone is not realizing the full value of a vehicle.

How can you address this? We had a conversation earlier with a company called Auto Appraise. You can see the website on our screen, and we’ll put a link down below. We're not affiliated with them, nor do we make any money from them; it’s just good to know that there are professionals in the industry who can help clients.

Many times, an appraisal is needed for situations like a probate case where an estate with vehicles needs to be sold off and valued. Sometimes there’s a legal matter, such as a court-ordered title or a judgment lien against a person who owns vehicles, requiring an established value. Having someone who is an expert and, more importantly, has documented experience is crucial.

From our investigative side, we know that if someone provides an opinion on paper that can’t hold up in court as an expert witness, it may not be worth it. A person with proven experience and a history of conducting appraisals will be able to withstand scrutiny in cases involving disputed amounts. Interestingly, this company also has a YouTube channel where they talk about different types of vehicles, including older classic vehicles. You can check it out for more insight into their work. We’ll link the channel below.

Keep in mind, however, that it’s not always worth getting an appraisal just to save a few hundred dollars on taxes. Appraisals can cost a significant amount of money. For example, if you’re using the Vermont process, and you have a bill of sale for $3,000 but the book value says $8,000, you might want to avoid paying taxes on that extra $5,000. However, that additional amount will only cost about $300 in taxes. It wouldn’t make financial sense to spend hundreds of dollars on an appraisal to save $300.

That said, if you have a vehicle valued in the five-figure range, such as $50,000 or $60,000, and it may be worth less, it could be worth pursuing an appraisal. Similarly, specialized cases like probate matters might also warrant one.

If you’re considering an appraisal, whether with this company or another, make sure the appraiser has the proper credentials or licensing that will be accepted by the jurisdiction or venue requesting it. For instance, if it’s required for court, ensure the court will recognize it. If it’s for the DMV, confirm that the DMV accepts that type of appraisal.

This company, based on their experience, reviews, and background, appears to have the expertise needed for classic, specialty, or highline vehicles. They likely handle newer vehicles as well, but it’s something to look into. If you need more information about appraisals, feel free to email our help desk at help@cartitles.com.