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Old 12-15-2004, 03:58 PM   #1
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Default Had Black Magic Appraised Today....

Had Black Magic (91SSE) appraised today for insurance reasons.

The insurance company wanted around $2000.

The appraiser couldn't give me a solid value unti he went back and did the paper work, but he said it would be worth around $7,500.

W00T!!!

I'm very happy w/ that first estimate.
Considering when I was looking for my 97SSEi, the most any used car dealership would offer me was $2500.
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Old 12-15-2004, 04:37 PM   #2
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So why $7500? Because of what youve done to it or something?
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Old 12-15-2004, 05:03 PM   #3
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w00t w00t
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Old 12-15-2004, 05:22 PM   #4
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Because it'* been repainted, and that'* in Funny Money.

Still seems to be excessively high... But you're lucky.
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Old 12-15-2004, 05:22 PM   #5
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wow my cars blue book value with only 72,XXX is only around 3,000. Is the appraised value all the stuff that you hvae added to the car or just the car itsself. I would think that if the car is appraised higher that your rates would be higher? is this true? does any one know?

If it dosent effect rates then i want my car appraised for everythink that i have added to it
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Old 12-15-2004, 06:46 PM   #6
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Quote:
Originally Posted by BonneMeMN
Because it'* been repainted, and that'* in Funny Money.

Still seems to be excessively high... But you're lucky.
Yea.... your right about Cdn money being funny.....
$7500 CAD = 6,128.24 USD

But it doesn't seem excessively high... it seems right.
Besides repainting, she'* also got a ton of mods, and a new engine.... so

And yes I am lucky..... to have such a nice car....
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Old 12-15-2004, 06:51 PM   #7
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Quote:
Originally Posted by 1993 SLE
Is the appraised value all the stuff that you hvae added to the car or just the car itsself. I would think that if the car is appraised higher that your rates would be higher? is this true? does any one know?

If it dosent effect rates then i want my car appraised for everythink that i have added to it
Appraising is a double edge sword......

I had to get Black Magic done because my insurance company would not insure a car that old unless it was worth more then $2000.

If the car is appraised too high, your rates might go up, but what they'd give you for value if the car gets wrecked also goes up. Also, if the car is appraised too low, you may not be able to qualify for collision and other insurance, if any.
So there are pros and cons.... but in my case I had to have it done, and it was sorta nice to know that the hard work and money I've put into the car is valued at something more then just a 'book value'.
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Old 12-15-2004, 07:30 PM   #8
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Just for laughs, I asked the salesman at the dealership my mom bought her car from, how much they would want my car for. They said no more than $500. You are one lucky guy.. I know my car would never go over $1500.


-justin
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Old 12-15-2004, 07:36 PM   #9
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yea I would never let my car go for less than 8-9,000 with all the thigs that i have done to it, plus it only has 72,000 on it
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Old 12-15-2004, 08:01 PM   #10
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Quote:
Originally Posted by 1993 SLE
yea I would never let my car go for less than 8-9,000 with all the thigs that i have done to it, plus it only has 72,000 on it
Actually, Modifications decrease resale value. 4,000 is reasonable for a 93 with your milage.
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