2. How is the Appraisal Utilized?

An automotive (vehicle) appraisal is utilized to aid in establishing the value of a particular vehicle for a specified period of time. The appraisal may be used to certify a vehicle’s value to secure a loan, obtain-renew or update insurance coverage, meet IRS and/or help resolve a legal issue (donation, bankruptcy, divorce, estate liquidation etc.), to ascertain diminished value, and/or determine a vehicle’s pre-loss value when negotiating a total-loss recovery.

Category: Appraisals FAQ

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