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. Sometimes it's the other way around where somebody is not realizing the value of a vehicle So how can you do that Well, Yeah we had a conversation earlier. with a company called auto appraise and you can see the, website on our screen We'll put a link down below. We're not affiliated with them We don't make any money with them It's just, it's good to know that there are professionals in that industry that can help clients many times the appraisal is needed for like a probate case where there's an estate with vehicles need to be sold off and they need to be valued. Sometimes there's a legal matter might be a court ordered title It might be. Something like a judgment lien against the person who owns vehicles and you need to establish the value. Having somebody who is an expert and more importantly, Documented experience. Is important We know from our investigative side that if you have a person that puts an opinion on paper, but it can't hold up in court as an expert witness, it may not be worth it.

Somebody who has a provenance and experience of having done appraisals will be something that will hold up to scrutiny when it comes to any disputed amount. It's not going to be worth it to do an appraisal to save you know, a few hundred. on taxes cause appraisals cost. a decent amount of money. So if you're, for example doing the Vermont process and you know you have a bill of sale for 3000 but the book value says 8,000. And you don't want to pay the tax Well that extra 5,000 is only going to cost you maybe 300 in taxes So you're not going to save any money by paying hundreds of dollars for an appraisal just to save 300. But if you have a vehicle that's. You well into the five figures 50 $60,000 on the book, and maybe it's worth less money It may be worth looking at or if you have a specialized probate case and maybe looking at an appraisal So whether you, you know look at this company, Or look at another company make sure that if you're getting an appraisal done, That. Whoever's doing it. Has the right kind of credentials or license that will be usable. By the jurisdiction or venue that's requesting it For example, if it's needed for court you want to make sure the court will accept it. If you're needing it for the DMV you want to make sure the DMV will use that kind of. Appraisal So talk to your appraiser. You know this company here. You know from their experience and their reviews and all of their. their background. Is a company that has the kind of experience that you want one to have for, especially. Classic specialty or Highline vehicles. I'm sure they do new vehicles as well but it's something to look into and, if you need more information on appraisals you can always email our help desk help@cartitles.com.