after hours of bodywork and painting, car value? - Hot Rod Forum : Hotrodders Bulletin Board
Hotrodders.com -- Hot Rod Forum



Register FAQ Search Today's Posts Unanswered Posts Auto Escrow Insurance Auto Loans
Hot Rod Forum : Hotrodders Bulletin Board > Tech Help> Body - Exterior
User Name
Password
lost password?   |   register now

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 11-09-2004, 03:42 PM
Muscle car fan
 
Last photo:
Join Date: Mar 2003
Location: Manitoba, Canada
Posts: 864
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
after hours of bodywork and painting, car value?

After spending the entire summer working on the car, and getting it some fresh primer, i realized that the insurance company will consider the price of my vehicle to be the cost of buying it, plus the materials i have recipts for.

is there some sort of aprazal (sp?) system to get someone to come give the car a value, which would take into account the amount of time spent on such an endevor?

    Advertisement
__________________
'74 Gran Torino Project
351W, c6 trans, 9"
Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
  #2 (permalink)  
Old 11-09-2004, 04:07 PM
VWFan's Avatar
Farfegnugen
 

Last journal entry: logo fun!
Last photo:
Join Date: Sep 2004
Location: Colorado
Age: 38
Posts: 182
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
There are a lot of companies that do auto appraisals, however the car stands alone in the appraisal, so you could spend a million hours on a project and if it is worth $1000.00 it's worth $1000.00.... They can appraise an object, but the effort it took to get it there is not "appraised".

It's like a home appraisal. If the house is worth $150,000.00 and you add a deck that is worth $5000.00 your home will be worth $155,000.00 (approx), but it doesn't matter if it took you 6 months to do it or if you paid someone only $3000.00 to do it. They have a figure that they base on and add or subtract from there.

I think the answer to your question is "no"....
Reply With Quote Quick reply to this message
  #3 (permalink)  
Old 11-09-2004, 04:29 PM
Muscle car fan
 
Last photo:
Join Date: Mar 2003
Location: Manitoba, Canada
Posts: 864
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Quote:
Originally posted by VWFan
There are a lot of companies that do auto appraisals, however the car stands alone in the appraisal, so you could spend a million hours on a project and if it is worth $1000.00 it's worth $1000.00.... They can appraise an object, but the effort it took to get it there is not "appraised".

It's like a home appraisal. If the house is worth $150,000.00 and you add a deck that is worth $5000.00 your home will be worth $155,000.00 (approx), but it doesn't matter if it took you 6 months to do it or if you paid someone only $3000.00 to do it. They have a figure that they base on and add or subtract from there.

I think the answer to your question is "no"....
hmm, so if i had paid a shop $2000 to do the work it wouldn't be worth $2000 more than when i bought it?

i bought the car for a song, so i should probably do it anyway, would suck to have someone run into the car and them give me only $2000 for it
__________________
'74 Gran Torino Project
351W, c6 trans, 9"
Reply With Quote Quick reply to this message
  #4 (permalink)  
Old 11-09-2004, 04:40 PM
VWFan's Avatar
Farfegnugen
 

Last journal entry: logo fun!
Last photo:
Join Date: Sep 2004
Location: Colorado
Age: 38
Posts: 182
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Receipts will help you to get a value closer to what you want, but your time will not be much of a factor in the appraisal.

Check the cost of an appraisal from a local auto appraiser and then you can decide if it is worth it. If you are looking to get more value for insurance purposes it may be worth while since the insurance will go off of KBB or NADA if there is a claim.

What kind of car are you talking about? Do you have a pic you can post here?
Reply With Quote Quick reply to this message
  #5 (permalink)  
Old 11-09-2004, 04:44 PM
pro70z28's Avatar
Member
 

Last journal entry: "Z" construction
Last photo:
Join Date: Oct 2004
Location: illinois
Age: 61
Posts: 190
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Quote:
Originally posted by Dubz
hmm
A couple years ago I painted a car for my daughter. Did a custom base coat clear coat. Charcoal with black "Lace" stripes. (did I mention it was for my daughter). I spent a bunch of time on it and had it straight as an arrow. I have pictures of the car showing the nice straight doors. Unfortunately, that's all we have since about 2 months after we finished it, a lady blew a stop sign and totaled it. (Jenni was O.K.) The lady got a ticket for failing to stop. With all that Jenni still only got blue book for the car. She now drives a car with door dings. We both agreed to leave em' there.
Reply With Quote Quick reply to this message
  #6 (permalink)  
Old 11-09-2004, 04:51 PM
Muscle car fan
 
Last photo:
Join Date: Mar 2003
Location: Manitoba, Canada
Posts: 864
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Quote:
Originally posted by VWFan
Receipts will help you to get a value closer to what you want, but your time will not be much of a factor in the appraisal.

Check the cost of an appraisal from a local auto appraiser and then you can decide if it is worth it. If you are looking to get more value for insurance purposes it may be worth while since the insurance will go off of KBB or NADA if there is a claim.

What kind of car are you talking about? Do you have a pic you can post here?
Car is a 74 Gran Torino, just putting the last coats of primer on today

here is a pic from a month or so ago
__________________
'74 Gran Torino Project
351W, c6 trans, 9"
Reply With Quote Quick reply to this message
  #7 (permalink)  
Old 11-09-2004, 05:46 PM
Restore60s's Avatar
Member
 
Join Date: Aug 2004
Location: Kentucky
Age: 55
Posts: 291
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Car Values

Go to www.nada.com and go into the collectable, classic car section. They give you prices on conditions, ie: restored, original, needing restored. They are fairly close on some models but it gives you a starting point. From that point then as stated use reciepts for any "custom" work that you may have done. I'm going to say the Grand Torino probably is around $10,000. on restored value. Good Luck
Reply With Quote Quick reply to this message
  #8 (permalink)  
Old 11-09-2004, 06:01 PM
jcarter's Avatar
Member
 
Join Date: Sep 2003
Location: western Manitoba
Age: 62
Posts: 190
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
What part of Manitoba are you from?Ilive west of Brandon.I've talked to a guy in Brandon that is a licenced appraiser and am going to probably get him to put a value on my car.I have also talked to my insurance broker about aprivate policy from a company in Saskatchewan that insures older cars such as this at there true value. Let my know if you need some help. I had a 74 Gran Torino Sport, in about 75. Nice car. Jim.
Reply With Quote Quick reply to this message
  #9 (permalink)  
Old 11-09-2004, 06:04 PM
pro70z28's Avatar
Member
 

Last journal entry: "Z" construction
Last photo:
Join Date: Oct 2004
Location: illinois
Age: 61
Posts: 190
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
I've heard good things about www.hagerty.com
Haven't used them myself, but been told you can set an agreed price for the car with them. Then you pay a premium commensurate with the agreed value.
Many years ago I insured a street rod with an agreed value, premiums went down in the winter during non-driving months, but that was a loooong time ago.
Reply With Quote Quick reply to this message
  #10 (permalink)  
Old 11-10-2004, 12:35 AM
Old enough to know better
 
Join Date: Aug 2004
Location: Denver, CO
Posts: 417
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
The best protection is to get an apprasial. Then go with a company that writes "agreed value" policies. Make sure you carry collision and comprehensive. If the car is totalled, the insurance will pay you the agreed value and they will collect from the other guy's company if he was at fault. Basically a case of CYA.
Reply With Quote Quick reply to this message
  #11 (permalink)  
Old 11-10-2004, 12:58 AM
Muscle car fan
 
Last photo:
Join Date: Mar 2003
Location: Manitoba, Canada
Posts: 864
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Quote:
Originally posted by jcarter
What part of Manitoba are you from?Ilive west of Brandon.I've talked to a guy in Brandon that is a licenced appraiser and am going to probably get him to put a value on my car.I have also talked to my insurance broker about aprivate policy from a company in Saskatchewan that insures older cars such as this at there true value. Let my know if you need some help. I had a 74 Gran Torino Sport, in about 75. Nice car. Jim.
I'm from Brandon. and thanks

Do you have the guys name/buisness?

www.nada.com report says $5,771 for average retail $8,944 for high retail. Not too bad.
__________________
'74 Gran Torino Project
351W, c6 trans, 9"

Last edited by Dubz; 11-10-2004 at 01:03 AM.
Reply With Quote Quick reply to this message
  #12 (permalink)  
Old 11-10-2004, 01:33 AM
tbirdscott's Avatar
stuff'n things'n whatnot
 
Last photo:
Join Date: Oct 2004
Location: P-Dot B.C.
Age: 29
Posts: 356
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Quote:
Originally posted by jcarter
What part of Manitoba are you from?Ilive west of Brandon
Waddaya talkin 'bout! the ONLY thing west of Brandon is Regina


Just wondering if anyone could toss out a ballpark figure for getting an appraisal done on a car? I got my car for next to nothing and the insurance company (ICBC) likes to give you only what you paid for it, not what its worth. Although my car isnt worth that much its still a dozen times more than I actually paid for it. Thanks
Reply With Quote Quick reply to this message
  #13 (permalink)  
Old 11-10-2004, 07:34 AM
jcarter's Avatar
Member
 
Join Date: Sep 2003
Location: western Manitoba
Age: 62
Posts: 190
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
Sent you an email with the name of a guy in Brandon who may be able to help. Let me know.
Reply With Quote Quick reply to this message
  #14 (permalink)  
Old 11-10-2004, 08:19 AM
Member
 
Last photo:
Join Date: Apr 2004
Location: Georgia
Posts: 3,578
Wiki Edits: 0

Thanks: 10
Thanked 61 Times in 39 Posts
Quote:
Originally posted by tbirdscott
Waddaya talkin 'bout! the ONLY thing west of Brandon is Regina


Just wondering if anyone could toss out a ballpark figure for getting an appraisal done on a car? I got my car for next to nothing and the insurance company (ICBC) likes to give you only what you paid for it, not what its worth. Although my car isnt worth that much its still a dozen times more than I actually paid for it. Thanks
************************************************
I pay from $125 to $275 for an appraisal.
If its the run of the mill (common, like 60's stang)
I go the cheaper route. The t-bird you see in picture I have done every two years to protect myself and the appraiser takes a picture of every sq inch of the car. Reason being a 57 t-bird you can buy from $20,000-150,000 depending on a lot of different things. When the evidence is gone, all you have is documentation!
Bwk
Reply With Quote Quick reply to this message
  #15 (permalink)  
Old 11-10-2004, 09:35 PM
Old enough to know better
 
Join Date: Aug 2004
Location: Denver, CO
Posts: 417
Wiki Edits: 0

Thanks: 0
Thanked 0 Times in 0 Posts
I think I paid about $75 for a very generic appraisal on a fairly stock '56 Studebaker. That's likely on the bottom end of the cost scale.
Reply With Quote Quick reply to this message

Recent Body - Exterior posts with photos

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Hot Rod Forum : Hotrodders Bulletin Board forums, you must first register.
Please enter your desired user name (usually not your first and last name), your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -6. The time now is 11:09 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.
Search Engine Optimization by vBSEO 3.6.0 PL2
Copyright Hotrodders.com 1999 - 2012. All Rights Reserved.