Originally Posted by BonneMeMN
Actually, Modifications decrease resale value. 4,000 is reasonable for a 93 with your milage.
Originally Posted by GAMEOVER
ok i got news for you the appraised rate is inaccurate the value of the car is only for the car not all the add ons that you may have or new things done
Incorrect.... both of you. This is how it was explained to me, by both my insurance company, and the appraiser.
Depending on the mods, the value can go up or down, regardless of what the mod cost.
IE, if you had a muscle car from the 70s, and replaced the stock rims, with some aftermarket stuff... the org rims would give the car a greater value. Same with body kits and stuff.
The appraised rate is everything that the car has.... engine... stereo... rims... etc etc. It'* like a replacement value if the car was stolen.
You are right, most places do go by the KBB value, which is how my insurance company works, BUT, since the KBB value is below what they would normally insure the car for, they asked if I would get it appraised inorder to continue having insurance with them.