WHEN AND WHY A CERTIFIED APPRIASER IS REQUIRED:

There are certain ways to appraise the Fair Market Value (FMV) of your donated car.  By using online car rating tools like Kelley Blue Book or the NADA Guides “http://www.nadaguides.com/,” you can get an initial FMV estimation of your donated car.

If your claimed tax deduction is greater than $5000 for your donated car, then a written appraisal of your car is required from a qualified appraiser.  As per IRS (https://www.irs.gov/pub/irs-pdf/p4303.pdf), page 7, 2^nd paragraph, following guidelines will help you find the responsibilities of a qualified appraiser:

1. Make sure that the appraiser is certified by the ASCAA.
2. You can find a list of certified appraisers from the link below:

http://www.certifiedautoappraisers.com/California.html

3. As the first step, an appraiser would take the photograph of your vehicle.
4. Would check the car documents.
5. Would check the interior and exterior of your car.
6. Would take a test drive of your car.
7. A complete inspection of your car that affects your car value is noted down, which includes:

Ø  Make and Model.

Ø  Inside and outside condition.

Ø  Mileage.

Ø  Replaced parts in the vehicle.

Ø  Modifications in the vehicle.

Ø  Listing of extra features of your car such as security system, sound system, rims, etc.

Ø  Checking your car’s history report.

8. Written appraisal should be mailed within 10-days.
9. The expected date of donation.
10. The appraiser should be up to date with the national sales and auction data so that he/she can easily compare your donated car against present market conditions.

WHEELS FOR HELP: 7 AWESOME WAYS TO INCREASE YOURCAR RESALE VALUE:A...

WHEELS FOR HELP: 7 AWESOME WAYS TO INCREASE YOURCAR RESALE VALUE:
A...: 7 AWESOME WAYS TO INCREASE YOUR CAR RESALE VALUE: As the new car drives off from the showroom, there is approximately 15-20% depreciat...

7 AWESOME WAYS TO INCREASE YOUR CAR RESALE VALUE:

As the new car drives off from the showroom, there is approximately 15-20% depreciation in its value.

Keeping your car in a good condition not only maximizes the life of your car, but also increases the resale value of car.

Here are a few things that can help increase the resale value of your car:

1.  ONLINE DEPRECIATION CALCULATOR:

Online depreciation calculators will help calculate the depreciation over 5 years.

http://www.edmunds.com/car-buying/how-fast-does-my-new-car-lose-value-infographic.html 

2.      SELECTION OF CAR:

Resale value depends a lot on the make and model of your car.

3.      MILEAGE:

According to the U.S. Department of Transportation, a car that drives 13,500 miles per year is an average car.  One can try to keep the mileage below through rent-a-car.

4.      A STITCH IN TIME SAVES NINE:

Taking good care of your car mechanically and cosmetically in a timely manner can increase your car’s resale value.

Ø  Always use the highest viscosity engine oil or as per manufacturer’s suggestion.

Ø  The average mile range to change oil is between 3,000-10,000 miles.

Ø  Always keep your tires properly inflated.  As per fueleconomy.gov, “You can improve your gas mileage by up to 3.3% by keeping your tires inflated to the proper pressure. Under-inflated tires can lower gas mileage by 0.3% for every 1 psi drop in pressure of all four tires. Properly inflated tires are safer and last longer.” “https://www.fueleconomy.gov/feg/maintain.jsp “

Ø  Change air filters around every 15,000-20,000 miles.

5.      MAINTENANCE RECORDS: 

Always maintain your car’s work record such as maintenance summaries, oil change, tune-ups, receipts of complete engine inspection, battery and changed accessories, etc.

6.      VIN REPORT: 

The VIN report has a complete history of the vehicle, from dealer to current owner or a change in ownership.  “VIN number can be checked via the National Motor Vehicle Title Information System (NMVTIS).” For more information about VIN, please visit the following link:

https://www.dmv.ca.gov/portal/dmv/detail/vr/nmvtis_check

7.      First Impression Goes A Long Way:  Fine leather seats covers, floor console, active door panel, clean mats, exterior with nice color, bumpers, headlights, tail lights, side mirrors, etc., will increase the resale value of your car.