What needs to be verified when conducting a vehicle appraisal?

When conducting a vehicle appraisal, it is essential to verify the vehicle's condition, mileage, and market value. The condition provides insight into how well the vehicle has been maintained and its functional reliability, which can significantly influence its overall worth. Mileage is also a critical factor, as it typically correlates with the wear and tear a vehicle has experienced; higher mileage can lead to decreased value while lower mileage often suggests a longer lifespan ahead.

Market value represents how much similar vehicles sell for in the current market and helps determine a competitive price. By evaluating these key aspects, an individual can accurately assess the vehicle's worth, ensuring a fair transaction for both the buyer and seller.

While verifying information such as the vehicle's age, owner history, color, model, insurance, and registration status is important, these factors do not directly impact the appraisal’s primary focus on value determination.