How to Get the Assessed Value of a Vehicle

A vehicle's condition can affect it's assessed value.

Determining the assessed value of a vehicle can be useful for many situations, such as insurance valuation, sales price determination, replacement cost or tax cost. While new vehicles can be easily assessed by sticker price, used vehicles can be more complicated, due to varying conditions, such as location, model, type and age. Getting an accurate assessed value of a vehicle can be accomplished in a few, easy steps.

Instructions

1. 

   Vehicle dealers may offer a wholesale assessment of value, rather than retail value.

   Consult printed records or online services to determine the fair market or retail valuation for the vehicle. These resources use a variety of methods and data to determine the current valuation, such as recent auction sales, dealer sales records, classified ads and public records. With this method, the valuation reached is often dependent upon the assessment of condition.

2. 

   The deparment of motor vehicles is a good resource of information.

   Research assessed value of the vehicle based on insurance or tax records. The state or local government entity responsible for collecting taxes and issuing license tags will have a value attached to your vehicle which can be used as a reference for other valuations. Vehicle insurance policies that include damage, theft or replacement coverage will also include an assessment of value for the vehicle.

3. 

   Complete assessment should include a mechanical inspection.

   Hire a professional vehicle inspector to offer an assessment of value. This can be an independent inspector or someone associated with a vehicle dealer or auction house. As a third-party estimate, these types of vehicle assessment are typically much more accurate than those offered the owner.

Tips & Warnings

• Keep vehicle sales information such as window stickers for future use.

• Many new car dealers will assess the value of your car for no cost.

• Never misrepresent the condition or other issue with the vehicle.

References

• Loudoun County Virginia: Vehicle Personal Property Tax
• Kelly Blue Book: Home page
• South Carolina Department of Revenue: Homeowner's Guide to Property Taxes in South Carolina