VEHICLE VALUATION SERVICE
The MMA is pleased to announce it will now offer a Vehicle Valuation service.
This will be available to all Classic Car owners, not just members of the MMA – and not just “Mopars” but it will cover all marques. It will also be available to any appropriate businesses.
The valuation service will be provided in two categories:
- A “Desktop” Valuation, and
- An “In person” Valuation.
Both options will incur a charge.
The “Desktop” version will be performed remotely on the basis of exchanging information – photos, and any supporting information that the owner may have in their possession.
The “In person” service will be (as the name suggests) a visit to site to view the vehicle. This will be a detailed service with checks into provenance, production numbers, and a full written report.
- The “Desktop” Valuation will be £50.
- The “In person” Valuation will be £200. The visit will be booked for a mutually convenient date.
<Please note: there may be an additional surcharge in the event of significant travelling to site. If in doubt, please contact the MMA via email@example.com to discuss your requirements and location>
All payments will be in advance of the Service, payable via the “Shop” Facility on the MMA Website (click here to visit the shop).
- Why is the MMA charging for this service, it did not do this before as it was part of the Membership?
- When the MMA charged a subscription fee for membership, it generated sufficient income to absorb the cost of DVLA Registration support. The MMA traditionally did not perform Valuations, they were passed to “TOVA”, a company managed by the MMA founder – the late Mr. Tony Oksien, who charged a fee.
Now that the MMA is a “Free to Join” organisation, there is a need to recoup some funds in order to pay for the Club’s statutory obligations, such as Insurance, plus the upkeep of the Forum and Website; which is one of the largest Repositories of Mopar knowledge in existence. It is this Repository that has established the MMA’s credibility with the DVLA as the sole Chrysler authority.
- I do not agree that the MMA should charge for this.
- It is essential to ensure that the MMA is appropriately funded to continue its work, cover its costs, and remain completely independent and impartial. Therefore, it can support people who wish to Register their classic car or insure it at the appropriate value.
- What do the MMA base its Valuation figures on?
- The MMA regularly reviews current Market values, auction results, and draws upon its years of knowledge and expertise in terms of rarity, options, and specifications. It then reviews all these factors to arrive at a balanced and realistic value. It takes into consideration both market and replacement values.
- Will my Insurance honour the Valuation? What happens if they do not?
- In essence, as the Insurer takes the Risks, it is their decision, and is based on commercial decisions. However, they may be more inclined to accept the risk and value if the supporting information has come from a recognised Authority, such as the MMA.
- I do not agree with the MMA’s Valuation – Can I challenge it, and how does this impact my Insurance?
- The MMA has confidence in its decision making processes to arrive at a realistic Valuation that it could justify – such as in a court of law. Owner’s are free to challenge and provide additional supporting evidence if they feel there is scope for a review, and the MMA will consider this accordingly. However, the MMA must remain credible in its assessment otherwise confidence will be lost and the scheme will be devalued in the eyes of the Motor Insurance community.
- How long does a Valuation usually take?
- A Desk based one can usually be performed within 7 days, often less. An “In person” valuation will be performed in agreement with the owner, but due to the more extensive nature of the work, it is likely to take 14 days from the visit to produce the report.
- Can I not simply tell my Insurance company what I think my car is worth?
- Yes, Owners are completely free to adopt this approach; but the Insurer may decide to disregard the information unless it is supported by fact-based evidence or a recognised authority.
- Will having a higher Insurance Valuation affect my Premiums?
- Potentially – Yes. It may move the vehicle into a higher risk bracket, but it would be covered appropriately in the event of an accident or claim – especially a total loss.