Under what circumstances must an appraiser adjust values of a vehicle?

Adjusting the values of a vehicle is essential when assessing aftermarket accessories or enhanced safety features. This adjustment is necessary because these additions or modifications can significantly impact the vehicle's market value. Aftermarket accessories, such as custom rims, upgraded audio systems, or enhanced safety features like advanced braking systems or collision avoidance technology, can increase the desirability and worth of a vehicle.

Considering these factors leads to a more accurate appraisal that reflects the true value of the vehicle in the current market. Properly valuing these modifications ensures that all aspects contributing to the vehicle's worth are taken into account, providing both the owner and potential buyers with a fair and informed perspective on the vehicle’s value.

The other circumstances mentioned may not automatically necessitate value adjustments. For instance, a vehicle being older than ten years may not always correlate with a decrease in value, as some classic models can appreciate. Similarly, while a vehicle's accident history (e.g., having been in an accident) may require careful consideration and inspection to determine value adjustments, the specific context of the accident is crucial. Lastly, the previous owner’s driving record, while potentially relevant to the vehicle’s history, does not directly affect its current market value or appraisal.