What Is the Value of a Classic Car?
A classic car is any car that was made more than 25 years ago or so. Many car lovers collect old vehicles and get them running again, or simply buy them so the cars can sit inside the garage. Determining the value of a classic car is useful for many reasons, whether it's for insurance or loan purposes, figuring out if the car you're trying to buy is worth it or even to keep accurate records of how much the cars you already own are worth. The job of determining value is usually done by an appraiser. But you won't be going to any appraiser for this--the appraiser has to specialize in older vehicles.
Other People Are Reading
Instructions
-
-
1
Get an appraisal from Automobile Inspections (see Resources). This company has 500 locations in the US and Canada and will give you a value for cars that were even made before 1945. On their website you can see a sample report. The appraisal is $25 additional. This service will cost you a good chunk of cash.
-
2
Contact US Appraisal if you have an incredibly old car that needs a value (see Resources). This company appraises cars as early as 1885 and has expert employees to suit your needs. US Appraisal was founded by owner David Kinney, a huge car collector, in 1990. Unfortunately, their offices are only in the Washington DC area, Virginia and Maryland.
-
-
3
Use Accurate Auto Appraisers to fill out a mail order appraisal, that will only cost you $50 (see Resources). You'll send them a form about the car and its condition, any problems and send pictures. This company vows to give fair appraisals, and you can also go to their Northern California or Northern Nevada offices in person.
-
4
Ask Featherman and Company to determine the value of your classic car (see Resources). Scott Featherman has 25 years of experience and is a certified appraiser, so he would be a good person to go to if you need the value for insurance or loan purposes. This company is in Pennsylvania, and Scott is available by telephone or email.
-
5
Determine the value yourself using the 100 point system. Inspect and rate the exterior, interior, paint, glass, trim, upholstery, recorded mileage, engine, brakes, transmission, authenticity, special features and desirability on a scale of one to five. By the total point value, your car will fit into one of six categories. See more about this technique in the links in Resources.
-
1
Resources
- Photo Credit http://www.dukes-auctions.com
