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WHY WAS YOUR DIMINISHED VALUE CLAIM DENIED?

by
St. Lucie Automobile and Diminished Value Appraiser

Each insurance company operates in its own manner when it comes to automobile diminished value claims. One constant, however, is that all of them strive to either delay, low ball or outright reject this type of claim in the hope that you, the vehicle owner, will become frustrated and simply give up. Why was your diminished value claim denied? First of all, it would be cavalier to imply that a diminished value report provided by The St. Lucie Appraisal Company will automatically be accepted and a settlement paid to the penny. That is simply not the case but when it comes to defending diminished value claims, insurance adjusters evaluate appraisals prepared by different independent appraisers and act upon them accordingly. If an insurance company determines that they have a good chance of prevailing in small claims or civil court, your claim could likely be denied. Conversely, when confronted with a comprehensive report that provides irrefutable proof of the existence and amount of value that your vehicle lost after collision repairs, they are forced to acknowledge the possibility of losing. In litigation, not only could you be awarded the full amount of diminished value, expenses such as the cost of the appraisal, expert witness and legal fees could also be recovered. Insurers would also bear the cost of their own experts and lawyers. It goes without saying that the prospect of losing in court isn’t particularly appealing to them.

WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE

We have seen most of the diminished value reports that are prepared by independent appraisers. Methodologies vary but some, of course, are better than others. Was your Chevrolet damaged by the negligence of another party? Did the accident happen in Arizona, for instance? The St. Lucie Appraisal Company obtains the opinions of the sales managers at six Chevrolet dealers in Arizona based on the vehicle and the damages that were repaired. This method is time-consuming but ultimately provides the best proof of the existence and amount of diminished value.

WAS YOUR DIMINISHED VALUE CLAIM DENIED?

Some examples of how other independent appraisers calculate diminished value will surprise you. Even more surprising is that these appraisers actually charge you for reports that have absolutely no basis other than to point out the fact that they are “experts.” The reports from these appraisers came to our attention after we were hired after vehicle owners’ claims were rejected. The reasons are clear.

Ten examples used by independent appraisers:

  1. The information contained herein, is based upon the information provided to me as well as the visual characteristics of the vehicle and its parts at the time of inspection. The opinions expressed herein are based upon; technical training, experience and acquired knowledge in this field of expertise.
  2. Provides sales prices of comparable vehicles and then an arbitrary diminished value amount based on nothing whatsoever that is contained in their report. The appraiser concludes: “In arriving at this figure, I gave consideration to the concerns which a buyer, if knowledgeable that there was a potentially severe accident, would have, and the impact upon whether such buyer would buy the vehicle and the conditions upon which a buyer may buy the subject vehicle.”
  3. Uses a formula similar to the discredited Rule 17-C. Corrective procedures “based on experience” reveal not only the flawed methodology but also a lack of real-world evidence to corroborate their findings.
  4. “Based on my personal experience as a licensed Motor Vehicle Damage appraiser with 21 years of experience in the automotive field, ASE certified mechanic, Associates degree in Mechanical Technology, a licensed automotive inspection and emissions mechanic, review of the estimate, picture review and the type of repairs needed on the vehicle, I place the diminished value at $XXX.XX.”
  5. Simply assigns a diminished value amount with no substantiating information.
  6. “Although subject vehicle was repaired to industry standards, at this time, I find the above to show cause of a combined 15% loss to its dated fair market value.” Their report shows no methodology for determining this amount other than the appraiser’s personal opinion.
  7. “In order to determine this vehicle’s ultimate Diminished Value, we have devised a Point System based on the following categories. They are in order of importance, with the first category representing the aspect of the repair process which has the most impact on the vehicle’s value.” This report uses a formula to calculate the amount of diminished value.
  8. “With over 20 years experience appraising automobiles, it is our opinion that, as a result of this accident, the specific type of vehicle, its age and its miles, would result in the vehicle’s market value having diminished no less than $XXX.XX after satisfactory repairs. This reflects nothing more than the appraiser’s opinion.
  9. “It is the opinion of this expert that there is evidence to suggest the value of the subject vehicle should be diminished value as a result of the body repairs.
  10. Uses a formula based on Rule 17-C modifiers that do not reflect an actual loss of value based on any tangible evidence.

Submitting an automobile diminished value report that simply states an appraiser’s opinion based on their alleged expertise or on a random formula or algorithm guarantees a certain amount of push back from the insurance company. If a magistrate or mediator can’t understand the methodology or doubts the validity of an opinion-based appraisal, you have wasted your money on the report. The St. Lucie Appraisal Company doesn’t offer opinions. We leave that to the sales managers at recognized dealerships who buy and sell cars all day long. They are familiar with bad Carfaxes and how their customers shy away from such cars. They know how these cars fare at automobile auctions. Appraisers should not assume to know more. Hiring an independent appraiser to prepare a diminished value report? Caveat Emptor. Let the buyer beware.

Car owner receives record $60,000 diminished value settlement

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automobile diminished value payment button

The fee for an Automobile Diminished Value Report is $275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.

Tesla and other exotic car owners please call for rates

After making your secure payment please email the completed body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi , Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming

TOTAL LOSS DISPUTE
This is an Open Education Resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.

AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company.

Diminished Value Claim Chicago

by
St. Lucie Appraisal, automobile, personal property, diminished value, appraiser

Each week we report on the most interesting and informative articles concerning auto diminished value claims. This took place in Chicago, Illinois. Regarding our diminished value appraisal of a Hyundai Sonata Sport with 10,750 miles that was involved in a Front End Collision that caused $12,153.44 in damage. The car was disabled/towed and had structural damage and no air bag deployment.The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.

WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE

We learned from these examples from sales managers at Hyundai dealerships in Illinois- A dealer will grudgingly take a structurally-damaged car in trade but it would bring more than 30% less in trade-in value. Also, that dealers might be likely to advise the vehicle owner to keep the car since it will take such a huge loss and also that a Hyundai with frame damage would go straight to auction after buying it from the vehicle owner for as little as half the value.

The opinions of unbiased experts form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them which absolutely puts the diminished value figure prepared by The St. Lucie Appraisal Company in the ballpark. This is what the car owner will experience in the real world.

A blue Hyundai Sonata Sport. A Diminished Value Appraiser in Chicago, Illinois call 772-359-4300.Dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.

We contacted several Hyundai dealers in Illinois in order to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV.) Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.

Description of damage: Disabling collision damages to the Front including damage to structural components and no air bag deployment. Repair cost $12,153.44. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.

The average of six (6) deductions was 34.58%. This is the percentage of Diminished Value to be taken from the FMV at the time of loss.

We established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $17,500.00 at the time of loss. The Diminished Value was $6,051.50.

CAR OWNER RECEIVES RECORD $60,000.00 AUTO DIMINISHED VALUE SETTLEMENT
READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY
QUESTIONS & ANSWERS ABOUT AUTOMOBILE DIMINISHED VALUE

auto diminished value payment button
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

Services available in Arlington Heights, Aurora, Bloomington, Bolingbrook, Champaign, Chicago, Cicero, Decatur, Des Plaines, Elgin, Evanston, Joliet, Naperville, Palatine, Peoria, Rockford, Schaumburg, Skokie, Springfield, Waukegan and throughout Illinois. auto appraiser near 60608, auto appraiser near 60617, auto appraiser near 60618, auto appraiser near 60623, auto appraiser near 60625, auto appraiser near 60629, auto appraiser near 60632, auto appraiser near 60634, auto appraiser near 60639, auto appraiser near 60647

TOTAL LOSS DISPUTE

This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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Diminished Value San Francisco, CA

by
St. Lucie Automobile and Diminished Value Appraiser

Each week we report on the most interesting and informative articles concerning auto diminished value claims. Regarding our diminished value appraisal of a Tesla S P85 4 Door Sedan with 48,063 miles that was involved in a Front End Collision that caused $6,071.21 in damage. The vehicle was not disabled/towed, had no structural damage and no air bag deployment. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Appraisal is key.
WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE

We learned from these examples from sales managers at exotic new car dealerships in Northern California – Tesla buyers are particular and because of this they want a clean Carfax. Also that when you get in an accident and it gets reported you can’t get equal value and it’s hard to sell anything that has an accident report and the potential issue for them and they would want a deal and dealers usually take them to wholesale. Also  that when you have a vehicle that has an accident report and its mild to moderate damage like this you would lose 20%++ on average. The opinions of unbiased experts form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them which absolutely puts the diminished value figure prepared by The St. Lucie Appraisal Company in the ballpark. This is what the car owner will experience in the real world.Dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.
diminished value San Francisco

We contacted several exotic new car dealers in Northern California in order to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV.) Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.
Licensed Independent Appraiser in CalifiorniaDescription of damage: Non-disabling collision damages to the Front not including damage to structural components and no air bag deployment. Repair cost $6,078.21. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.
The average of six (6) deductions was 19.17%. This is the percentage of Diminished Value to be taken from the FMV at the time of loss.
We established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $40,000.00 at the time of loss. The Diminished Value was $7,668.80.

Car owner receives record $60,000 diminished value settlement
READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY
QUESTIONS & ANSWERS ABOUT AUTOMOBILE DIMINISHED VALUE


Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

Service in Los Angeles, San Diego, San Jose, San Francisco, Fresno, Sacramento, Long Beach, Oakland, Bakersfield, Anaheim, Santa Ana, Riverside, Stockton, Chula Vista, Irvine, Fremont, San Bernardino, Modesto, Oxnard, Fontana, Moreno Valley, Huntington Beach, Glendale, Santa Clarita, Garden Grove, Oceanside, Santa Rosa, Rancho Cucamonga, Ontario, Elk Grove, Lancaster, Corona, Palmdale, Salinas, Hayward, Pomona, Escondido, Sunnyvale, Torrance, Orange, Pasadena, Fullerton, Thousand Oaks, Visalia, Roseville, Simi Valley, Concord, Victorville, Santa Clara, Vallejo, Berkeley, El Monte, Downey, Costa Mesa, Inglewood, Carlsbad, Fairfield, Ventura, Richmond, Murrieta, Antioch, Temecula, Norwalk, Daly City, Burbank, Santa Maria, El Cajon, Rialto, San Mateo, Clovis, Jurupa Valley, Compton, Vista, Mission Viejo, South Gate, Vacaville, Carson, Santa Monica, Arden-Arcade, Hesperia, Westminster, Redding, Santa Barbara, San Marcos, Chico, San Leandro, Newport Beach, Whittier, Hawthorne, Citrus Heights, Livermore, Tracy, Alhambra, Indio, Menifee, Buena Park, Hemet, Lakewood, Merced, Chino, Redwood City, Lake Forest, Napa, Tustin, Mountain View, Bellflower, Baldwin Park, Alameda, Upland, San Ramon, Pleasanton and throughout California. auto appraiser near 94102, auto appraiser near 94103, auto appraiser near 94107

TOTAL LOSS DISPUTE

This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
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Diminished Value Claim in Kansas City, MO

by
St. Lucie Automobile and Diminished Value Appraiser

Each week we report on the most interesting and informative articles concerning auto diminished value claims. A diminished value appraisal of a Chevrolet Traverse High Country AWD Wagon with 2,932 miles that was involved in a right side collision that caused $8,254.53 in damage. The vehicle was disabled/towed, had no structural damage and no air bag deployment. The claimant hired an independent auto appraiser and made a third-party inherent auto diminished value claim for the vehicle’s loss in value. Once a car is repaired after a collision, it is worth less, often much less depending on the severity of the damage. Regardless of how well the repairer did his job, nobody will pay as much for a previously wrecked car as they would for an identical one that was never in an accident. Presenting a diminished value claim and following it through to a satisfactory conclusion is a daunting task for the average person. Obtaining a comprehensive Diminished Value Report is key.
WE DON’T USE FORMULAS, ALGORITHMS, AD COMPARISONS OR OTHER SHORT CUTS
SIX UNBIASED DEALER QUOTES IN EVERY APPRAISAL TO VALIDATE OUR RESEARCH
TELEPHONE CONSULTATIONS ALWAYS FREE-OF-CHARGE

We learned from these examples from sales managers at Chevrolet dealerships in Missouri – One dealer explained that because the vehicle is new and it already has bad Carfax there will be a loss which will be a bit higher versus if it were a few years older. Another dealer said said that the biggest hit will be due to the year of the vehicle and if it was fixed well, normal loss for something of this nature would be around 15-20% less
The opinions of six unbiased professional sales managers at recognized new car dealerships form the basis for the most comprehensive Auto Diminished Value Appraisal available. We obtain six of them to validate the diminished value report prepared by The St. Lucie Appraisal Company. This is what the car owner will experience in the real world.
The six dealers providing opinions regarding diminished value were given information specific to this vehicle including year, make, model, mileage, pre-accident condition, color, options, any other pertinent equipment, date of loss as well as the nature of the repaired damages and the manner in which the vehicle was repaired. Dealer opinions are based on personal knowledge and access to auction results. Dealers were advised that this vehicle was properly repaired.>We contacted several Chevrolet dealers in Missouri to establish how these repairs and the resultant repair history would impact this vehicle’s Fair Market Value (FMV). Dealers were provided with an evaluation of the vehicle’s condition both prior and subsequent to repairs.>Description of damage: Disabling collision damages to the right side with no damage to structural components and no air bag deployment. Repair cost $8,254.53. LKQ (used) and/or aftermarket parts were not utilized in the repair/not factored in to the diminished value.
The average of six (6) deductions was 12.92%. This is the percentage of Diminished Value to be taken from the FMV at the time of loss.
We established that the above captioned vehicle had a Fair Market Value (Average Trade-In Value) of approximately $40,000.00 at the time of loss. The Diminished Value was $5,168.00
CAR OWNER RECEIVES RECORD $60,000.00 AUTO DIMINISHED VALUE SETTLEMENT

READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY

QUESTIONS & ANSWERS ABOUT AUTOMOBILE DIMINISHED VALUE

auto diminished value payment button
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

Service in Kansas City, St. Louis, Springfield, Independence, Columbia, Lee’s Summit, O’Fallon, St. Joseph, St. Charles, St. Peters, Blue Springs, Florissant, Joplin, Chesterfield, Jefferson City and throughout Missouri. auto appraiser near 63301, auto appraiser near 63376, auto appraiser near 65203, auto appraiser near 65802, auto appraiser near 65807
TOTAL LOSS DISPUTE
Founded by Franklin Colletta, The St. Lucie Appraisal Company is a family-owned appraisal company that offers nationwide service. We provide Diminished Value Appraisals, Total Loss Valuations, and Loss of Use Reports.
This is an Open Education Resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.
AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company.

DIMINISHED VALUE IN NEW CARS

by
St. Lucie Appraisal, automobile, personal property, diminished value, appraiser

IS THERE SUCH A THING AS DIMINISHED VALUE IN NEW CARS?

New cars at dealerships can get damaged in various ways that aren’t the fault of the dealer. These include customer mishaps in the lot, damages caused by car carriers and, of course, the inevitable accidents that customers get into with their loaners. After repairs are completed, the automobile or truck goes back into the new car inventory. But these vehicles are different in that they have been devalued by the repair history, sometimes by tens of thousands of dollars. New car buyers that would even consider buying them will be looking for deep discounts. Can the dealerships recoup this loss in their bottom line? The answer is yes, if the damages to the vehicle were caused by someone else’s negligence. It is known as Automobile Diminished Value and the insurance companies of responsible parties – the rubbernecking customer, the trucker from hell or the careless loaner driver – are on the hook for it in every state. Diminished Value is not a claim that only pertains to used cars. New cars are also subject to diminished value and The St. Lucie Appraisal Company is pleased to be providing Automobile Diminished Value Reports to new car dealerships in all 50 states.

DIMINISHED VALUE IN NEW CARS – SOME ANSWERS
Q: As a new car dealer seeking a diminished value appraisal from your company, what information do I need to provide in order to get started?

A: At the bottom of the page you will find a blue rectangular box in which reads “Request an Automobile Damage Report.” Click on it to make a $275.00 payment to The St. Lucie Appraisal Company then email both a completed repair estimate and the new car sticker to contact@autodiminishedvalue.com

CAR OWNER RECEIVES RECORD $60,000.00 AUTO DIMINISHED VALUE SETTLEMENT
Q: Once we receive your report and forward it to the adjuster handling our claim, what type of response can we expect from the insurance company?

A: Our reports are based on the unbiased opinions of six General Sales Managers at recognized new car dealerships. Unlike appraisals based on formulas or appraisers’ expert opinions, ours are very difficult to dispute.

Q: How much value per car or truck should our dealership expect to lose as a result of new cars now having prior repair histories?

A: Unlike some of the unfortunate private passenger car and truck owners whose vehicles lose significant value, especially when frame repairs or air bag deployments were noted, most new cars aren’t usually wrecked too badly. There are, of course exceptions to the rule. A new Corvette Z07 Coupe which got pinballed around the dealer lot by a customer’s car lost 37.08% of its value, or $39,814.65, after undergoing $44,000.00 in repairs that included structural components. A new Kia Soul! lost 43.75% of its value after similar circumstances occurred. Most new cars with Carfaxes showing minor repairs typically lose only 10% to 20% in value. It is the dealer’s choice whether to recover it or not. The general manager of an automotive dealership has a high level of accountability. They are chiefly responsible for its continuous profitability. Being compensated thousands of dollars every time diminished value occurs fits in with that objective.

READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY

auto diminished value payment button
Click on the payment button above to pay by Credit Card or Paypal. The fee for an Automobile Diminished Value Report is
$275.00. You may also make your Credit Card Payment by telephone, call 772-359-4300.

After making your secure payment please email the body shop estimate or insurance company appraisal to contact@autodiminishedvalue.com TESLA AND OTHER EXOTIC CAR OWNERS PLEASE CALL FOR RATES.

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming

TOTAL LOSS DISPUTE

This is an Open Education resource focused on auto diminished value, collective knowledge and the sharing of scholarly content.AUTODIMINISHEDVALUE.COM and TOTALLOSSDISPUTE.COM are services of The St. Lucie Appraisal Company
READ MORE ARTICLES…

GETTING A TRUCK OR HEAVY EQUIPMENT APPRAISAL

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The St. Lucie Appraisal Company, Automobile Appraisers in all 50 States 772-359-4300 contact@stlucieappraisal.net

Getting a truck or heavy equipment appraisal for financing, insurance or a charitable donation qualifies as a necessity when requirements dictate. In addition to accuracy, an appraiser who prepares a valuation report for heavy equipment should strive to present professional-looking documents that will impress a bank, insurance company or the IRS as being valid. There are other reasons that appraisals may be necessary such as in matters involving estates, bankruptcy, purchase & sale, damage claims or equitable distribution.

Appraising and donating a truck or heavy equipment to charity is both worthwhile and financially beneficial to you. A truck can enhance many lives through the service it provides. The tax deduction that is enjoyed by the donor is, of course, another good reason for considering such a gift. The St. Lucie Appraisal Company provides fair market valuation appraisals in all 50 states for many useful purposes such as estate dissolution, equitable distribution, damage claims, total loss disputes, loss of use claims as well as for donations. Knowledge of trucks and heavy equipment is one key requirement but another essential necessity that an appraiser of RVs needs a database of past sales of comparable items. Whether the appraisal is going to the IRS, an insurance company or a magistrate, it must be documented by sources for the information contained therein. In the case of a tax deductible donation in excess of $5,000.00, you must have a written appraisal in which the appraiser will complete an IRS Form 8283 for you.

Hire an Experienced Truck and Heavy Equipment Appraiser

Due to changes in IRS reporting requirements, a truck or piece of construction equipment can no longer be appraised by the dealer where it was purchased unless the item will be donated within two months of when it was acquired. If the vehicle is worth less than $5000.00, then you usually don’t need to hire an appraiser to value it for you. Like most automobiles, trucks can be evaluated by year, make, model and condition. Other factors that should be considered are whether vehicles have been upgraded or customized.

Insuring a Truck, trailer or heavy construction vehicle is usually a straightforward process unless upgrades or custom work was done. Claims, however, are a different story. Obtaining a fair settlement for a wrecked, stolen or total loss truck can be a nightmare because insurance companies are far less accommodating paying claims then they are in collecting premiums. An appraisal based on real world comparables is a necessity in these cases.

READ CUSTOMER REVIEWS OF THE ST. LUCIE APPRAISAL COMPANY

Obtaining financing from a bank or credit union for the purchase of trucks and heavy equipment often requires the borrower to have it appraised. These vehicles depreciate over time so lenders are careful about financing used trucks and construction equipment. The Black Book and NADA truck evaluation guides don’t address upgrades and customization. Many trucks have been refurbished to a degree that will extend their lifespans by many years. Banks and credit unions, when searching through their guide books can’t help but fail to realize these and decline to offer adequate loans. Hiring a licensed appraiser is a means to obtaining the necessary financing.

The St. Lucie Appraisal Company has provided valuation appraisals for trucks and heavy equipment since 1981. We are licensed appraisers and provide service in all 50 states. The cost of a fair market value appraisal depends upon the research necessary to make an accurate determination. However, with the extensive database of past sales at our disposal, we can most often provide an appraisal of a trucks and heavy equipment for $375.00.

The St. Lucie Appraisal Company
Service in all 50 States
Phone: (772) 359-4300
Email: contact@stlucieappraisal.net

Service throughout Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.