The collector car market is in constant flux. With so much speculation and unknown variables that make up the value of a true classic car, the use of a qualified appraiser is a wise place to start. An experienced and certified appraiser has the skills and knowledge that is required to help their client with any of a number of valuation applications that may arise. Be it a known classic or just a great driver, it pays to have your vehicle of interest looked over and appraised by those that take their profession seriously. First off the appraisers at Source One Services are friendly, knowable and professional people that always take great interest in getting to know the areas that are important to you. We believe that only through good communication can we come to understand the scope of the assignment at hand. Be it a pre-purchase inspection or any number of appraisal approaches, we will assure that our products and service will be a worthwhile and smart investment. Please call us to discuss any questions you may have concerning your automotive needs. We look forward to earning your business. At Source One Services we provide you with any type of appraisal needs you may have. Please call us with your requirements and we will gladly give you a price quote on the services you need.
Pre-purchase inspection:

The importance of a pre purchase inspection of any used vehicle can’t be overstated. In regards to protecting you from an unwise acquisition, these inspections can often help you negotiate a better deal on your purchase. The process of inspecting any used vehicle goes beyond a general physical overview of the vehicle. An experienced inspector must take into account many factors as they write a report on the vehicle. The past service history on some vehicles is not always available for review so the inspection is there to uncover areas that may have been neglected and could be an issue when you purchase the vehicle. Today’s vehicles are far more complex and therefore more costly to repair, so things like recognizing codes can signify mechanical or electrical issues that aren’t always obvious, even though a vehicle seems to run normally.

With the introduction of CARFAX, the consumer is sometimes given false security prior to purchasing a vehicle. As much as this reporting institution tries to collect information on many of the newer vehicles, they often can’t. It is common knowledge that not all repair shops or body shops report to the consumer bureaus so an inspection is still your best defense against making a poor purchase decision.   

Be it a late model vehicle or a classic, have a professional and unbiased inspector look over the vehicle anytime you are considering a purchase.

At Source One Services we have been performing inspections on all makes and models nationwide for many years and can proudly say we’ve saved our clients dollars and grief.

Unibody:

Today's vehicles are more complex and require a high level of precision in the straightening process.  At Source One Services we understand that it’s important to look out for vehicles that have undergone severe unibody damage.

 

During a collision, the vehicle which you own or lease is engineered to crush in a controlled manner to minimize injury to its occupants... your family.

 

When energy absorbing structural components have done their job, the straightening or replacement of these unibody auto frame components is necessary. A competent auto body shop determines when an automobile frame component should not be straightened, but replaced. This is very critical should the vehicle get in another accident as these unibody and frame components will be required to react in the same manner.

 

The manufacturers of some of today's light trucks require that the frame be completely replaced, instead of straightening it.  The main reason for this, even with minor damage, is so to provide safe deployment of air bags.

A buyer should always be aware of this being a when you look at a used vehicle.

Salvage Title:

Industry standards followed by and noted in print by the National Automobile Dealers Association (N.A.D.A.) Appraisal Guides, Kelley Blue Book Market Report Official Guide, the International Society of Automotive Appraisers (I.S.A.A.) and additional automotive business entities within the United States of America, all devalue a motor vehicle that is in possession of a “Salvage Title”, by 20% - 50% of the normal, fair market retail value of the vehicle without a “Salvage Title”.  The percentage variance increases with the younger age of the vehicle at issue and the retail value of that vehicle.  Any vehicle that is more than 10 years old carries the 20% minimum devaluation to the fair market value of the vehicle. 

Vehicles that are in possession of a “salvage title” from a total-theft strip insurance claim, opposed to a physical damage/impact type claim, are usually devalued in a lesser percentage amount from that of a collision or fire loss insurance claim branded “salvage title”.  The percentage of devaluation is decreased by between 10% - 20%, based on the age and normal retail value of the vehicle.

If the vehicle is in possession of “junk” title, the percentage of devaluation for the value increases.  This is due to the fact that the vehicle & title was branded “junk” by either the insurance carrier of record or by a state agency (Department of Motor Vehicles). This type of vehicle was supposed to have been dismantled, not repaired, based on the amount of damage sustained to the vehicle as a direct result of the loss it was involved in.  Vehicles with a branded “junk” title are normally devalued by a percentage of 40% - 50%, depending on the year, make and model and normal retail fair market value.

Once a vehicle is branded with a “salvage or junk” title of ownership, this type of tarnished history stays with the unit, even if the branded title is "washed clean" in another state to be free of the designation “salvage or junk”.

The marketability of any type vehicle with a “branded title or history”, is questionable.  This is something to keep in mind, when contemplating the purchase of a vehicle with this condition present. 

Give us a call today and let us make the purchase of your next vehicle hassle free. 

Automobile Appraisal:
An extensive report on the market valuation of a vehicle. Specifications, equipment, history, originality and market analysis and comparators. Several high-resolution pictures will be included for your records.
Diminished Value:
It is common knowledge that an automobile’s retail market value is diminished, after it has sustained moderate to major damage in an impact or loss of various types. This is not withstanding the fact that the sustained damages may have been properly repaired. Demands for payment to compensate a vehicle owner for the recovery of damages in excess of the cost to repair the vehicle, when the value of the vehicle has decreased due to it’s Diminished Value, are becoming more commonplace today. Most first party claims of this type (Insured/Policyholder) are specifically excluded within the “material damage” policy’s of most major carriers. Third party claims of this type (Claimant/Vehicle Owner) are not excluded, due to the fact that no contract of insurance would be in effect between the insurance carrier and the non-policy holding claimant who suffered the damages at the hand of an insured.

This sounds pretty straightforward, but underneath this statement appears an imposing stance by most all major insurance companies in Europe and North America. The insurance carriers are adamant that when they pay to repair a damaged vehicle, then there exists no additional claim of damages for the vehicle. They believe that if a car is repaired properly, there is no Diminished Value simply because of the fact that the vehicle was involved in an accident. If it is restored to it's pre-accident condition, they believe that there is no Diminished Value. That may be logical in most cases, but used car buyers are often not logical. If their given the choice between two identical used cars, except for the fact that one was in a major accident, it’s safe to assume that most all buyers would choose the car that was accident-free!

At Source One Services we take our assignments on diminished value very seriously. We gather all the facts and try to determine the success of a claim. Dealing with insurance companies today, and appraiser must have professionally prepared documents that adhere to the requirements of presenting a diminished value claim. Source One Services has the expertise and experience to help you resolve these difficult situations.

The 3 Types of Diminished Value:
  1. Inherent Diminished Value - The automatic loss in vehicle market value from an accident. Almost every damaged vehicle will have some measure of inherent diminished value, which is still an actual loss to the vehicle owner. 
  2. Repair Related Diminished Value - A loss in market value due to remaining flaws and defects caused by improper or substandard repairs. Items in this category have been paid on the repair estimate, but have been repaired improperly, or perhaps overlooked completely.
  3. Insurance Related Diminished Value - A loss in vehicle market value due to insurance claims practices. This is typically caused by the insurance carrier failing to pay to repair a flaw or defect listed on the repair estimate.
Expert Witness:
We can represent our clients in litigation , consulting and expert testimony for most automotive related cases. Please inquire about our fee structure.

Divorce:
Most attorneys consider the valuation of assets to be the most crucial and problematic step in the divorce process. It is far more strategic than many clients realize where astute discovery and skillful preparation separates winners from losers because divorce involves so many types of assets, the valuation process is highly complex and time-consuming. It can mean justifying values for anything from an automobile to military pension to household furnishings. Each case means sorting through a tangle of specific rules, regulations, and financial records.

In hiring a company that has the skill and experience to deal with situations such as divorce will make the process easier and less painful. Let the professionals at Source One Services help you settle your case in a fast and professional manner. Since courtroom appearances are not uncommon, we are also available for hire as expert witness.