Vehicle Appraisal Questions
Vehicle appraisal questions and answers for estate settlement, probate, charitable donation, and estate and gift tax. Chrome Auto Appraisers explains USPAP, fair market value, and how our appraisals of cars, trucks, trailers, RVs, and motorcycles work.
These answers explain USPAP, fair market value, who prepares your appraisal, multi-vehicle requests, and how an appraisal differs from a dealer offer
What is a USPAP-compliant vehicle appraisal?
It is a written opinion of value prepared in accordance with the Uniform Standards of Professional Appraisal Practice, which The Appraisal Foundation publishes. The standard governs how the appraiser identifies the vehicle, states the purpose, selects market evidence, and explains the conclusion.
What is fair market value for a vehicle?
Fair market value is the price a willing buyer and a willing seller would agree on, with neither under pressure to act and both reasonably informed. IRS Publication 561 describes the concept, and it is the value standard most estate and donation reporting uses.
Who prepares the appraisal?
Our appraisers prepare it and our team delivers it. Our vehicle appraisers hold credentials with leading organizations, including the Certified Appraisers Guild of America (CAGA), and the work follows USPAP.
Can one request cover several vehicles?
Yes. List each vehicle with its year, make, model, and VIN, and the report states a separate value for each. Estates with a mix of cars, trucks, trailers, and motorcycles can be scoped together under one fixed fee.
How is an appraisal different from a dealer offer or a price guide?
An appraisal is a written opinion of value prepared to professional standards for a stated purpose and valuation date, with its market evidence explained. A dealer offer reflects what one buyer will pay, and a price guide reflects general averages.