| Frequently Asked Questions |
What is an appraisal? An appraisal is the estimation of the value of property at any given point in time, past or present. An appraisal can also entail the forecasting of monetary earning power. An appraisal is a document with a valuation conclusion; it is not a pre-purchase inspection, a mechanical evaluation, or a recommendation to buy or sell your vehicle. Why should I have my car appraised? An accurate, up-to-date appraisal by HorsePower Auto Appraisals is an important part of owning a collector vehicle. Appraisals are essential for insurance valuations, bank (or other) loan verification, personal property taxes, and valuation disputes. How much is my car worth? HorsePower Auto Appraisals has provided a link to various price guides to help you estimate your car's value range. When you are searching these guides, you will find there are many differences of opinion in valuation of many vehicles. Only by obtaining a professional valuation will you be able to have a third party accurately view, describe, and value your vehicle for the purpose intended. My car is one of a kind, modified, and/or very rare. How can you accurately appraise it? Even one of a kind cars have similarities to other vehicles that were built at the same point in history. Examples include early vehicles built by automotive pioneers, "one-offs" built by inventors and/or speculators, as well as highly customized cars, hot rods, antiques, and tuner cars. The appraisal process provides for a comparison to cars that have similar markets and characteristics. |
