Online Appraisals. Are they accurate?
Online appraisals can be done, but they kind of go against the premise of the industry standards. With an online appraisal the appraiser has to rely on the information, given to them. It is known as a hypothetical appraisal, and it is contestable.
These online appraisals cost less for sure. They are also much more likely to benefit the seller, Rather than the buyer. So, items like rust, body filler, mechanical problems, and any other issues may be present. It's impossible to know without a physical inspection.
In reality, you don't even know if it's the car they sent pictures of. Who's to say that the owner hasn't cleaned off the oil leaks prior to taking the photos to hide problem. How do you know the fuel isn't 10 years old or that the upholstery isn't rotted out? You can't smell through the computer unfortunately.
It is an unreliable method of estimating anything if the appraisal is not done in person, especially with cars and the general nature of the business. The appraiser should be the one inspecting the vehicle and taking the photographs, otherwise, it's ultimately a guess and nothing more.
As a buyer or seller, you can easily end up either on the wrong end of a lawsuit, or owning a worthless piece of junk. It happens all the time and there is not always recourse after completing a purchase. You're just as well off saving the appraisal money for repairs. The internet is great, but there are some things that just can't be done with 100% accuracy online. Not recommended based on experience
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