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Re: Appraisal (archive)
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Posted by Victor Hall on January 06, 2002 at 19:20:39:

In Reply to: Appraisal posted by Lee on January 06, 2002 at 18:39:45:

Geico didn't check the MVA records for what I paid until my lawyer threatened to sue them. That was the only snag in our case, and it was a big one. I think the best way to insure the car in the future, is to have it appraised like you said, or just request a higher insurance value (at the cost of paying higher premiums.)


I understand you under-evaluated your car in order to save taxes, right? What you should have done was to immediately have an appraisal according to market value and condition. Your car's value may have climbed back a few thousands.

If you are being given a car for $0, doesn't mean your car is worth $0. It has a value dictated by market... not what you paid for, especially on an old car.




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