Appraising a car's value?

[lm723]

When a financing company says..

"Appraise po muna natin sir ung kotse?"

What does he mean? If the cost of the car is P170t?
Lower or Higher the price?

Pano ako dto? Sorry, nde ko kse alam kung ano gagawin nila dto.

[johnart]

Appraise value is not necessary the resale value but the present value based on a rate made by the insurance and banking sector. Their basis is the 15% depreciation starting when the car was new. Sometimes the appraised value maybe lower like a 2000 model pajero 750k but the resale is at 850k, but most vehicles are higher appraised value but lower resale like what my father in law just bought ( toyota camry 2004 model it was appraised at around 980k but was bought at 850k)

[lm723]

Hmm.

So, sir example. P170t kse ung second hand price nung car. So kahit ma appraise sya sa P200t. 170t pa din ung babayaran ko? btw, minus pala %50 dun sa 170t.

[j_avonni]

Financing company appraises the vehicle to determine your loanable amount, usually at 70-80% of the appraised value. Appraised value is based on the fair market value of the vehicle. It may increase or decrease depending on the accessories and condition of the car.

[misterioman]

may kilala kayong car appraiser?

[dr. d]

the appraisal value depends... are you a'sellin' or a'buyin' ?
but one thing i noticed.. all these used car dealers and bayan sellers, they appear to be following a single formula...