jimbo35ca

Has anyone had their car appraised for insurance purposes recently? If so, can you let me know who/where it was appraised. I am getting a bit nervous with the fact that these vehicles are becoming rarer, and would like to have my vehicle appraised as opposed to just being reimbursed on the value stated on my bill of sale.

Thanks,
Jimbo

iDomN8U

I'm pretty sure you get insurance book value instead of bill of sale. Appraisal will just raise your premiums and/or alert them to modifications which they might not even insure you.

Chuck S

Get an agreed value policy if that's allowed in Ontario. I doubt an "appraiser" will provide a number you want. Our cars are not yet "collectible" or rare but there's no market data either.

-- Chuck

A. Dos Santos

Would the value of the CAD affect the sale price of our cars? I bought mine for 13,600 canadian car, with no mods, no accidents, and 100k on the clock, but now there's cars going for over 16k, with more mileage, US cars, and accident history what gives?

iDomN8U

I'm pretty sure insurance companies take all that into consideration. In case of loss/thief they will offer you their book value regardless what you paid. They are charging you insurance premiums on that value to begin with.

You're probably best to ask your insurance company directly, however the above has been my experience

kryptonite

I'm having a really hard time figuring out what to price my car at. The numbers just sound too high you know.. I'm not complaining but never thought my car had appreciated in value so much

K20EF8

The book values for these cars are much lower than they actually sell for. For example, the ministry used the "red book" as a base for what to charge for taxes on vehicle transfers.
I would get an "agreed value" policy and have it in writing that they must payout that value in the event of a total loss.

ATNCHN

What's wrong with US imported vehicle being priced high nowadays? Look at kijiji and autotrader and see how many are being sold. Autotrader shows 13 NATIONAL wide and only 3 PROVINCIAL wide. If you got yours for 13,600 with clean title, you definitely got a deal.
The rate is crap, and people are not going to travel to the states to purchase S2000 anymore

Even at over 16k, you're still saving a lot buying it in the Canadian market as opposed to importing one.
If you can find one in the states selling for 11000USD, that is still more expensive than buying a 16000CAD imported one in Canada

I think it's pretty normal to see why our cars appreciate.
Also, for an originally US imported vehicle, I was told that the process/paperwork involved of exporting it back to US is easy
You can easily sell a good condition AP2 for 20000USD, and factoring in the exchange rate it'll be a price that you'd never be able to get in Canada

In addition, black book value will always be low when people are always trying to avoid paying tax by lying about what they paid for the car. The UVIP amount accounts for the transaction prices also on the used market.

At some point I listed my car for sale at 20,000CAD including coilovers, intake, exhaust, amuse r1 front bumper and even hondata flashpro, now that I come to think about it, it's actually not bad of a price haha.

I could easily sell my car for 16000USD in buffalo or something and it'll be a few thousand CAD more than my asking price.