85_ZED28

Hey guys, damn its cold outside (and inside, dad's cheap lol)

Anyway, I was wondering what your cars were appraised at, mine was appraised last year at $7500, and I would just like to compare to similar cars.

Thanks!

davecamaro

$3500 when I just bought it

NOw who knows..

darbleinad

wow 7500. you car must be in greta shape. my car is worth next to nothing, but to me its the most valuable and important thing i will ever own.

Cruzin Kaz

I must say that your car must be in almost mint condition, or you had a easy going appraiser. I'm not trying to knock you car either here. But $7500 for a 85 Z'd is alot of cash. Do you have some supper dupper stereo or something??? Most 85 Zd's in great shape may pull around $3000-$3500 tops!

IROCKER

Appraised value and resale value are two different things guys. The appraised value is usually based on a book value with a ratings scale used for a factor. Most appraisal, for insurance purposes are valued on appearances and not necessarily the mechanical operation or state of tune. I took a look at Colin's site and his car is indeed very clean. The engine could use a little touching up and it does have high KMs, so I would say that $7500 is a little high. Is there any rare options about this car that would raise it's value? For mine the factory red leather helped to increase the value as that was a rare option for '87 IROCs.

My car is currently appraised at $12Gs

IROC-ZZ4

I wonder how much mine would have been appraised at had I not wrecked it

darbleinad

your car is worth 12 000?

Cruzin Kaz

Well $12g donesn't seem too much for IROCKER's car. That paint job probably set him back about $3000 or so. Leather ineterior. Oh yeah $12g's no problem for a appraisel. To sell it...well maybe around $8500-9500 give or take.

darbleinad

yeah apprasisal almost always seem to be high, as witnessed here.

Cruzin Kaz

Well of course! My Monte is appraised at $15g's right now. I will admitt I probably have a grand total of $10g's in it with all the new little parts here and there. New gas tank new tranny new this new that. It all adds up quick. But yes appraisels are always about 25% higher then retail value.

85_ZED28

The only rare option my car has is the LG4 lol

thanks for the replies!

Stang Eater

$3000.00 for THAT paint job???? whre was that done at!?!?!?!?!?!

Cruz'N Bruz'R

I'm appraised at $15 000. I think it was the best $90 I've ever spent on this car. At least it's a guarantee if something happens to it.

Cruzin Kaz

Do you mean that you find that to be to much??? Don't forget IROCKER has ghost flames on his car,plus a very nice paint job to boot. It wouldn't suprise me one bit if that is around what it cost him. Lets just ask him. Oh IROCKER???If you don't mind telling us. How much did the paint job cost you?

Luva350

I really need to look into doing this. Does anyone know where in Toronto/Mississauga I can get my car appraised ?....without spending a whole lot a $.

IROCKER

Yes Brad...$12Gs...and like Kaz said, that the insurance value. If I were to sell it I would realistically get around $9Gs.

The paint job was done through a club discount so it was relatively cheap. For the custom work and repainting of everything from the fenders forward cost about $1600. In the spring, to redo it with a slight change in the flames and painting from the doors forward is gonna cost $2000. If I were to do the whole car then about $3500. It helps to be nice to the paint shop owner.

copperchick

Mine was apparaised at $6000, but like I already said in my Insurance Cos Continue to Suck thread, it doesn't amount to a hill of beans with most insurance companies. And resale is always a fraction of the appraised value.

Idlehands

she rattles, she creeks, she has a bad paint job, she's blessed with the LG4, she's my first car, she gets me in alot of trouble, she's taken me to alot of places, been through alot together, she's pushing 380,000 kms, i've sweat and bled over her, i drive her daily she treats me great, never had a major problem, i don't care what appraisers say, or what insurance say, she means the world to me and that you cannot put a price on. I think i'm going to go giver her a hug.

tissue time

copperchick

I feel that way to...which is why I was not impressed by my insurance company's callous ways. My only conern re: appraised value is that they'll fork over enough money in a settlement to fix her if/when she needs it.

Stang Eater

I guess you guys took what i said the wrong way, I know IROCKER has the flames and a very nice paint job. I was actually saying that I found that to be really CHEAP for a paint job of that caliber.....sorry for any confusion...I love IROCKER's paint!

PS- what shop did your paint?

copperchick

Not me. I knew what you meant.

Cruzin Kaz

Sorry Stang Eater..like my thread said..I wasn't sure what you meant. It sounded more like you thought it was to much. It's all good, right???

Eric2ndGen

As mentioned- Appraised value and resale value are 2 different things. Appraised value is for insurance purposes-i.e. what it would cost to have the car replaced like-for-like. Selling price is rarely if ever close to appraised value.

My '79 is appraised at $17 grand, in large part due to $10 grand worth of drivetrain parts. Selling price? I'd be lucky to see 10 grand. The point is that if it's ever wiped out or stolen- it would cost 17 grand to replace with the same modifications/options I have right now and the chances of finding another vehicle ready-to-go with the same/similar mods would be pretty slim.

This is why when you're out looking at buying a car or 'project' you can ignore the seller's appraised value entirely- it is meaningless from a selling perspective. I'm sure you can find $50,000.00 Pinto's- but who would pay this for one (other than the guy who sunk 50 grand into this one)?

Cruz'N Bruz'R

I haven't read your insurance company post Copperchick, but if you have your vehicle appraised, and then take that appraisal to your insurance company, they may raise your current monthly rates, but that guarantees that if your car is written off, or stolen and not recovered, that is the price they have to pay out to you.

(Had previous Iroc stolen twice. Never recovered. Learned from that incident.)

85_ZED28

Idlehands:

I know how you feel man, but I would suggest getting an appraisel. Just I case anything ever happens to your car

IROCKER

Stang Eater: It was Extreme Customs in Dundas. If you like it now wait till the spring then It will be better!

copperchick

Um, no they won't. That's what the post was about actually. It doesn't guarantee anything. Read the thread, dude. Did you honestly think I would have the car appraised and NOT bring a copy of it to the insurance company? That was WHY I had it appraised.

MR. JORDAN

I got mine done in the summer and it's worth $11.500.00. That was with the LG4. I'll do it again this coming summer after the transplant...

Cruz'N Bruz'R

Ummm, your with some shady insurance company then. Thats what the appraisal is for, replacement value. As long as you have it, and you have provided a copy for insurance company, (prior to a claim), and of course they adjust your monthly premium, if need be, to offset that replacement value, if your car "disappears", they have to reimburse the replacement value.

Eric2ndGen

"Shady insurance comany" ha ha- is there any other kind?

As mentioned- without a specialty policy for occasional-use only- no common insurer in Ontario will put a 19(A) -i.e. non-depreciating value clause- on a daily driven vehicle. They will depreciate the value of the vehicle when there is a claim- despite your higher premiums based on on appraisal.

"Shady"?- find me one that isn't...

Insurance was once intended to be a vehicle to replace/compensate for what was lost (i.e. a car or use of your busted-up leg) in the case of an accident/occurance. What is has become is a "fear" industry where the salesman/brokers try to convince you that you will need $2 million in liability in the event you wipe out a schoolbus full of children and then careen off the road and wipe out a bus stop with 12 people waiting for a bus. Statistically speaking- the chances of this happening are about 25 million to one- but nonetheless- how many people here have $2 million in liability right now?

The original intent of replacement/compensation for loss is right out-to-lunch with modern insurance companies.

An example I like to use is someone driving a 10+ year old car- if you don't have any appraisal on it at all and it is written off- you will be lucky to get a couple of thousand $$$ for it. What car can be bought certified and emission tested for $2 grand? Virtually nothing. The point being that yesterday you were driving a perfectly 'legal' vehicle-i.e. to replace it another vehicle must go through certification and emissions testing- which you are not likely to find for $2 grand. I.e. nothing is in fact 'replaced'- you will only be partially compensated- the fact that another 1985 Camaro will cost well over $2 grand with a reasonable paint job on it and an e-test and certified- is your problem- the insurance company does not care that you are not being compensated adequately- just that you'll keep paying premiums and they will pay the bare minimum they have to when a claim is made.

Talk to an insurance broker or sales agent- every time I talk to one I get the idea that I'm basically a convicted fraud artist until they decide otherwise (i.e. never) because they've had 'so many' 'fake' claims by the general public, which of course they cannot prove but certainly like to believe are all 'fake'. I.e. you are guilty of something and should therefore be ripped off- and you have no way of proving different- just pay your money and see how hard you take it up the a$$ once you do have a claim. It strikes me that with a legal requirement to have to have auto insurance (penalty is what, a $5,000.00 fine?)- we have given insurers permission to be crooks, which they certainly seem to have taken advantage of.

At the rate we're going with no one really doing anything about this- I think we can look forward to more and more people paying more in insurance than in finance/lease payments on brand new cars. Ultimately this will likely mean that auto manufacturers and oil companies will fight back and forth with insurance companies until they figure out how far the consumer can be pushed/ripped off before they give up and walk everywhere.