Blog

Latest Industry News

June 2, 2014

Understanding the Appraisal Process When Selling a Car

One of the steps that is often necessary when selling a car through a reputable dealership is an appraisal. An appraisal means professionals at the dealership actually review the car in order to determine the value. Appraisals usually result in written offers based on the results. Appraisals do have to happen in person at one of the dealership locations. It is important to understand several points about the appraisal process when selling a car.

The Importance of Appraisals

Appraisals are an important part of the car selling process for a number of reasons. One of the first is that pictures along with the make and model of a car do not tell the whole story. The dealership needs to perform a physical inspection in order to see exactly what features are inside the car. This actually helps sellers since the dealership could discover the car is worth more than the average price for the model. Appraisals are also important because they ensure the car meets the standards of the dealership.

Recent Appraisals Can Be Sold Anywhere

A common question is whether a car can be sold at any of the dealership locations after it has been appraised. The answer really depends on the policies of the dealership. One of the more common practices is to allow a person to sell the car at any location if the appraisal was done very recently. This generally means the appraisal must have been done within the last seven days. Dealerships allow this because reappraising the car so soon afterward would likely garner the exact same results. The actual time limit could be three days or ten days depending on the dealer.

The Car Might Need To Be Appraised Again

There are times when a seller might choose to leave the lot after an appraisal to see if other dealerships will offer a higher price. This could take some time. If the appraisal becomes more than a week or ten days old, then the car might need to be reappraised when coming back the dealership. This is a common policy. The time that elapsed since the first appraisal is long enough for things to change with both the car and the markets. Dealers might insist on a reappraisal even if the car is taken back to the original location.

Benefits of Selling Through the First Location

Some basic benefits do come from selling the car where the initial appraisal was performed. The first is convenience. Making the choice to sell the car for the offered price means that no return trips need to be made. The car can simply be handed over for sale or trade. Another benefit is that the process becomes simpler. There is no need to carry around paperwork or remember appraisal dates. Selling at the initial location also saves time that might be spent sitting through additional appraisals or explaining details to people at other locations. It is usually best to make a decision to sell or trade the car right after the appraisal.

Back to top