Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am going to look into having an appraisal done on a car. I've never had one done before. The price is $100 if I drive to him and $175 if he drives to me which is about 50 miles away.
The appraiser says he's a member of the International Automotive Appraisers Association as well as a NADA advisory board member.
I've yet to meet this guy about the appraisal. What should I look for to ensure he's a legitimate appraiser?
Are you buying or selling. Are we talking about a classic car or a regular car from these two past centuries?
I think if this is a used car purchase your money is better spent to have it checked by your own mechanic. They charge you one hour of labor. That is after you check the price on edmunds.com and kbb.com, check the carfax and also test drive it. There are lists of things you can check yourself, print one out and take it with you. Take your best friend with you and tell him to pull you away if you seem to be in love with the car. If your gut tells you to walk, then walk. If the owner won't let you have the car checked, again, walk.
I'd agree that an having it appraised is a waste of money. Unless you're going to sell it immediately, car prices will change by the month. Your apprasial will be meaningless this time next year. If you're just curious, research what these cars are selling for now. Check eBay on similiar cars since it's worth only what someone else is willing to pay for it. And, we all want to know... what do you have to appraise?
The car in question is my 87 Buick Regal T. I own the car and even hold the title to it. "What's a Regal T" you say? Well, it's the same car as a Buick grand National (if you don't know what those are you've been under a rock too long) except it came in other colors instead of just a monochrome black. It had the same engine/transmission/rear end/suspension of a Grand National.
In '86 Buick called this very same car a "T type" and when you went to insure them, the insurance companies recognized what a T type was. In '87 they dropped the T type name and instead called all Regals with the turbo 6 option/Y56 touring package option....well...a Regal. Even though they're literally the same car as a T type.
So in other words if it were to ever become destroyed by fire, totaled, etc...the insurance company would only cut me a check for whatever a 1987 Regal books at....they wouldn't even consider that it had the turbo option or the touring package which make the car worth significantly more...simply because of a loop hole. If it were a true Grand National, well, they'd at least see that.
With that said I am forced to have an agreed on collector car insurance policy. However that limits where and when i can drive the car. Not cool.
And therefore I've considered having it appraised for the simple reason of being able to insure it when I want to drive it, and not just on a sunny day to a cruise in.
Also not all the used car pricing websites are the same. KBB lists it as being worth significantly less than NADA which IMO is closer to the actually typical selling price, overshooting by a few thousand. In a good economy, one of these cars trades hands all day for $8k-$12k +. Right now the selling prices as of lately have been a few thousand less.
I think its good protection for you if you ever have to file a claim with your insurance company. I would make sure that I had in writing the insurance companies policy on paying claims on collector cars. They are known to debate claims and could say they didn't care what some appraisal said and just would refuse to pay...No way to make them pay without a legal battle and they know it.
The car in question is my 87 Buick Regal T. I own the car and even hold the title to it. "What's a Regal T" you say? Well, it's the same car as a Buick grand National (if you don't know what those are you've been under a rock too long) except it came in other colors instead of just a monochrome black. It had the same engine/transmission/rear end/suspension of a Grand National.
In '86 Buick called this very same car a "T type" and when you went to insure them, the insurance companies recognized what a T type was. In '87 they dropped the T type name and instead called all Regals with the turbo 6 option/Y56 touring package option....well...a Regal. Even though they're literally the same car as a T type.
So in other words if it were to ever become destroyed by fire, totaled, etc...the insurance company would only cut me a check for whatever a 1987 Regal books at....they wouldn't even consider that it had the turbo option or the touring package which make the car worth significantly more...simply because of a loop hole. If it were a true Grand National, well, they'd at least see that.
With that said I am forced to have an agreed on collector car insurance policy. However that limits where and when i can drive the car. Not cool.
And therefore I've considered having it appraised for the simple reason of being able to insure it when I want to drive it, and not just on a sunny day to a cruise in.
Also not all the used car pricing websites are the same. KBB lists it as being worth significantly less than NADA which IMO is closer to the actually typical selling price, overshooting by a few thousand. In a good economy, one of these cars trades hands all day for $8k-$12k +. Right now the selling prices as of lately have been a few thousand less.
I'm pretty sure that insurance companies know what a previously named turbo Regal is. And the title will show exactly what it is.
This isn't some one-off import supercar, or a hand built custom. Nearly 28,000 turbo Regals were produced in 1987. You can relax.
I'm pretty sure that insurance companies know what a previously named turbo Regal is. And the title will show exactly what it is.
This isn't some one-off import supercar, or a hand built custom. Nearly 28,000 turbo Regals were produced in 1987. You can relax.
You're missing the point. No they will not recognize what the car is because all the title says it's it's a Regal...not a GN...or a T type...or a GNX. That's the "loop hole" that stems from this year alone. At best the 8th digit does denote the engine size but still does not point out that said car is an exception as opposed to other Regals of the same year. In other words insurance companies will only pay out what a regular Regal is worth if this car were to be chalked up as a total loss. Because it's not called a T type even though it is the same thing, just a change in the name. If you still don't believe me, go ahead and log onto turbobuick.com and ask them how an insurance company handles a 1987 turbo Buick that isn't a Grand National or a GNX if it were a claim. Many people have been stiffed.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
