Motor Valuation
The process of determining the worth of a vehicle at a particular time for various reasons such as for insurance purposes, securing a bank loan etc. This is done by inspecting the vehicle thoroughly to establish it’s soundness, noting any damages or defects present and coming up with a value of the vehicle as at that particular time. This process relies on various valuation factors such as;-
1) Current replacement value of a similar make & model.
2) Age of the vehicle.
3) Mileage covered by the vehicle.
4) Popularity of the make & model.
5) Other factors pertaining to valuation (Vintage, Emotional attachment etc)