Insurance Value Appraisals
This is a complete appraisal with full documentation and photos that will establish the market value of a vehicle as if it was being sold by a willing seller to a willing buyer. This is the value appraisal that your insurer will want to put an “agreed value” or “guaranteed value” on your special interest vehicle.
A similar appraisal can be done on later model vehicles under a standard insurance policy to establish an “actual cash value”. This is what your insurance company will require should you dispute the value that they are offering when your vehicle is a total loss. Caution should be taken as this type of appraisal often works out to be a similar value to what the insurance company has calculated.
Prices start at $165.00
Declaration of Value
We can do a short form (one page report) confirming the details of your vehicle and its “actual cash value”. These are often required by institutions that are using the vehicle as collateral or calculating your worth. The most common occasion where these reports are required are:
- OSAP Loans
- Mortgages & Loan Applications
- Bankruptcy or Insolvency Applications
- Sales of Companies or Company Assets
- Divorce Settlements
Prices start at $100.00
Service Ontario Appraisal
If your vehicle is 20 years old or older you will be required by Service Ontario to get a Ministry of Finance approved appraisal filled out by a company certified to do these reports. This is because the standard reference guides that Service Ontario uses to establish value for the Used Vehicle Information Package only goes back 19 years.
These reports can also be used to defer the taxes paid at the time of transfer if the vehicle is unusually high in mileage, has non-safety related damage or other factors that reduce the value of the vehicle below that of actual cash value. This report under those conditions should be accompanied by a bill of sale for a similar amount and listing all deficiencies that have resulted in the lower sale value. These vehicles are usually sold in “as is” condition.
Soon to be available