Your vehicle has a unique identifying number called its VIN number. When it came out of the factory, it was assigned that number, and it is essentially a fingerprint to identify that specific vehicle. You can identify the value of your vehicle by its VIN, and it can help car appraisers determine its market value as well. Identifying car value by VIN is something appraisers take into consideration as they consider other factors, like the car’s mechanical and cosmetic states when determining a final appraisal value.
In the past, VIN numbers used to be just serial numbers. It was easy to tell the sequence in which the car was produced just by the VIN, but the VINS back then were not consistent. In fact, they were often the same between manufacturers.
Later on, manufacturers began putting more information into the VIN, like the manufacturer code, year, and model number. This simplified using the VIN and made it easier to identify a particular vehicle. Unfortunately, though, there wasn’t any regulation of how VINs were created and assigned, and there was still overlap between numbers and manufacturers.
Time passed, and VINs became more standardized. They can only be assigned to one vehicle, and there is no more overlap. The 17-character VIN was put into use in 1981, and we have used it ever since. The VIN is printed on the frame, the door, and on the dash, making it easier to identify the vehicle.
When you’re considering purchasing a used, classic, or custom vehicle, you want to know the VIN number before you purchase the vehicle. You can get a report about the vehicle that tells you about accidents and repairs, previous owners, where the vehicle was previously registered, and more. This type of information can help you make the best decision when it comes to purchasing a vehicle. Maintenance records are also sometimes available.
An appraiser can learn a lot about your vehicle form its VIN, and they can use that information to assist them in determining its value. It can help them give an accurate market value to the vehicle. So call your local appraiser to learn your car value by VIN so that you can find the right insurance coverage or to ensure that the car you want to buy is worth what the seller is asking. You will save yourself a money, time, and headaches by doing your research first.