
Evaluating Your Project Car Part 3
Rewind to last issue and you’ll recall we addressed appraising a car (part one of this series discussed a personal experience I had with appraisal). That article showed the basics of a stationary evaluation. If it passes (and looks reasonably safe!), it can be started and, if possible, test driven. More below. Next week, I'll key you in on the best ways to find information on getting your build done to perfection. But first, I’ll share a long distance shipping experience with you. You might be surprised!
Start the Car!
In many, many cases, the appraiser (or you) cannot take the car for a test drive. There might be a lot of reasons for this – no insurance or registration, not roadworthy, poor weather and/or road conditions and so on. But if the car passes all of the items in a stationary inspection, the next step is to check the operation of everything electrical - lights, horn, fan, radio, windows, wipers, etc. Once that is complete, check the fluids and start the car; check the operation of engine, transmission, brakes, park brake, accessories (for example, the air conditioning) and so on. The appraiser will inspect gauge operation, carefully examine the odometer (to see if there’s evidence of a rollback) and with the owner’s permission, check operation of the transmission, check for unusual drive train noises, leaks, exhaust system performance and the like.
With many appraisals, this is usually the time the car gets photographed. Typically, the appraiser photographs the good and the bad. And with digital cameras, it’s not hard to shoot 25-50 photos of a given car. Obviously when it comes to photos, the more, the better.
How Much Does It Cost?
So how much will all of this cost you? Depending upon the appraisal company, expect to pay between $250 and $500 for a quality appraisal. And depending upon the location of the car (and the location of the appraiser), you might have to pay travel mileage expenses. For that money, you likely won’t receive a blow-by-blow list of matching numbers. It takes way more time to research and document absolute correctness, and you can expect to pay much more for that type of service. Instead, you should receive a comprehensive report on the condition and overall originality of the car. You should also receive a number of high-resolution photos along with comments on what needs work.
The Real Bottom Line…
Is the appraisal process worth it? Just ask me! I spent well over four times the cost of a good appraiser to personally visit that misrepresented Buick T-Type in Texas. A few days later, a stunning T-Type turned up in Florida. I learned my lesson: I hired an appraiser with Buick experience (along with big volume insurance company experience). The car checked out perfectly. $300 for an appraisal definitely beats flying completely across the continent. And by the way, that Florida Buick ended up in my garage.
For a closer look, see the accompanying photos. If you’ve found a long distance love affair, hire a good appraiser. It’ll be worth every nickel.
The Long Distance Checklist…
SEARCH – Finding the Car
- Print resources
- Internet resources
INSPECTION – Checking Out the Car
- High resolution photos of the car
- Close up photo of the VIN
- Photo copies of all paperwork, including the Title
- Compare Title to VIN
- Hire an appraiser to evaluate the car
- Contact a friend or acquaintance to check out the car
- Fly in or drive in to examine the car
- Google the seller’s name, address, telephone number
- Cross reference the seller’s phone number with the telephone
company, checking street address
- Zoom into the street address with Google Earth or Google Maps
- If necessary, have the title searched for liens (Car Fax and other
companies offer this service for a minimal fee)
PURCHASE – Dealing with the Money
- Down Payment
• Credit card down payment
• Paypal down payment
• Wire transfer down payment
• Cashier’s check down payment
- Final Payment
• Cash
• Cashier’s check
• Personal check
• Wire transfer
• Escrow service
• Paypal
• Money forwarded to close friend or associate who turns the money over to the seller and in turn, takes possession of the car
- Title, spare keys and other paperwork sent to you by way of Fed-Ex or other courier
SHIP IT – Getting the Car Home
- Drive it home yourself from the purchase location
- Rent a truck and trailer at the location of the car and haul home
- Have a friend or acquaintance haul the car
- Trucking companies (see the accompanying sidebar)
- Insurance – buy transport insurance. It’s critical!
Start the Car!
In many, many cases, the appraiser (or you) cannot take the car for a test drive. There might be a lot of reasons for this – no insurance or registration, not roadworthy, poor weather and/or road conditions and so on. But if the car passes all of the items in a stationary inspection, the next step is to check the operation of everything electrical - lights, horn, fan, radio, windows, wipers, etc. Once that is complete, check the fluids and start the car; check the operation of engine, transmission, brakes, park brake, accessories (for example, the air conditioning) and so on. The appraiser will inspect gauge operation, carefully examine the odometer (to see if there’s evidence of a rollback) and with the owner’s permission, check operation of the transmission, check for unusual drive train noises, leaks, exhaust system performance and the like.
With many appraisals, this is usually the time the car gets photographed. Typically, the appraiser photographs the good and the bad. And with digital cameras, it’s not hard to shoot 25-50 photos of a given car. Obviously when it comes to photos, the more, the better.
How Much Does It Cost?
So how much will all of this cost you? Depending upon the appraisal company, expect to pay between $250 and $500 for a quality appraisal. And depending upon the location of the car (and the location of the appraiser), you might have to pay travel mileage expenses. For that money, you likely won’t receive a blow-by-blow list of matching numbers. It takes way more time to research and document absolute correctness, and you can expect to pay much more for that type of service. Instead, you should receive a comprehensive report on the condition and overall originality of the car. You should also receive a number of high-resolution photos along with comments on what needs work.
The Real Bottom Line…
Is the appraisal process worth it? Just ask me! I spent well over four times the cost of a good appraiser to personally visit that misrepresented Buick T-Type in Texas. A few days later, a stunning T-Type turned up in Florida. I learned my lesson: I hired an appraiser with Buick experience (along with big volume insurance company experience). The car checked out perfectly. $300 for an appraisal definitely beats flying completely across the continent. And by the way, that Florida Buick ended up in my garage.
For a closer look, see the accompanying photos. If you’ve found a long distance love affair, hire a good appraiser. It’ll be worth every nickel.
The Long Distance Checklist…
SEARCH – Finding the Car
- Print resources
- Internet resources
INSPECTION – Checking Out the Car
- High resolution photos of the car
- Close up photo of the VIN
- Photo copies of all paperwork, including the Title
- Compare Title to VIN
- Hire an appraiser to evaluate the car
- Contact a friend or acquaintance to check out the car
- Fly in or drive in to examine the car
- Google the seller’s name, address, telephone number
- Cross reference the seller’s phone number with the telephone
company, checking street address
- Zoom into the street address with Google Earth or Google Maps
- If necessary, have the title searched for liens (Car Fax and other
companies offer this service for a minimal fee)
PURCHASE – Dealing with the Money
- Down Payment
• Credit card down payment
• Paypal down payment
• Wire transfer down payment
• Cashier’s check down payment
- Final Payment
• Cash
• Cashier’s check
• Personal check
• Wire transfer
• Escrow service
• Paypal
• Money forwarded to close friend or associate who turns the money over to the seller and in turn, takes possession of the car
- Title, spare keys and other paperwork sent to you by way of Fed-Ex or other courier
SHIP IT – Getting the Car Home
- Drive it home yourself from the purchase location
- Rent a truck and trailer at the location of the car and haul home
- Have a friend or acquaintance haul the car
- Trucking companies (see the accompanying sidebar)
- Insurance – buy transport insurance. It’s critical!
Leave a Reply