The differences between different types of car appraisals
The differences between different types of car appraisals
Pre-purchase appraisal: A pre-purchase appraisal is conducted before a car is purchased to help determine its value and ensure that the buyer is not paying more than the car is worth.
Pre-insurance appraisal: A pre-insurance appraisal is conducted before a car is insured to help determine its value for coverage purposes.
Estate appraisal: An estate appraisal is conducted to determine the value of a car for estate or probate purposes, such as when an individual passes away and their assets need to be divided.
Diminished value appraisal: A diminished value appraisal is conducted after a car has been in an accident or has sustained damage to determine the decrease in value as a result of the damage.
Lease-end appraisal: A lease-end appraisal is conducted at the end of a car lease to determine the value of the car for lease-end purposes, such as determining any excess mileage or wear and tear charges.
Insurance loss appraisal: An insurance loss appraisal is conducted after a car has been declared a total loss by an insurance company to determine the value of the car for insurance purposes.
Overall, the type of appraisal needed will depend on the specific situation and the purpose of the appraisal.