Appraisals

Bus Appraisal Solutions, LLC (BASLLC) is a dedicated group of professionals that have spent their entire careers working in all aspects of the bus, coach, and transportation industry. Unlike other appraisal firms, our only discipline for the last three decades has been the intense study of the bus and coach market.

When hiring an appraisal firm, it is important that you hire a company that has the depth and knowledge of the market, the assets, and the environment in which the assets are used to provide meaningful assessments of how the assets in question are being cared for and preserved. They also must possess the ability to clearly communicate the findings in a meaningful way for lenders, insurance companies, and potential buyers or investors to understand and utilize the information that is provided to them.

Over 30 years ago, (BASLLC) developed complex and accurate modeling processes which are still being developed today. These processes are detailed and take into account the current condition of the vehicle; regional sale ready cost; current and real-world market analysis to reach accurate Retail, Fair Market and Order Liquidation Values.

Because our sister company, Bus Solutions, LLC publishes The Official Bus Blue Book™ and The Official School Bus Blue Book™, our appraisal customers get the benefit from the extensive market data that does not exist anywhere else. Any way you look at it, thirty (30) years of market data is powerful and our customers directly benefit from that wealth of knowledge.

Types of Appraisals

Desk Top Appraisals

A desktop appraisal is an opinion of value based on a tightly defined and controlled set of assumptions and criteria. This type of appraisal requires that the operator provides various data about each unit including make, model, year, options and mileage in addition to a list of other information. A desktop appraisal means that our trained staff has NOT inspected or laid eyes on the equipment. Desktops are inherently less accurate then field inspected appraisals and also less expensive.

Field Inspection Appraisals

A field inspected appraisal is the most accurate type of appraisal because our inspectors have the opportunity to actually touch the equipment and see the current condition of each unit inspected. Our inspectors are also trained to review the operator’s maintenance procedures and protocols as well as observe the environment in which the assets are being operated.

Residual Value Analysis

A residual value analysis takes an appraisal and forecast the appraised value into the future based on a real world historical resale data. The forecasted numbers can be projected out 2 to 7 years into the future are relevant to each and every specific unit in the fleet. Ask us more about the details and specifics of the residual value forecast process.

Litigation Appraisal & Expert Witnessing

We hope that you never find yourself involved in litigation, but if you do it is uncommon to need an established value at a given point in time. It’s important to remember, your lawyer specializes in the law, not bus operations and bus markets. They simply may not see all of the details surrounding your case when it comes to your operation and equipment like an industry veteran will. That is where the experience of our senior folks at (BAS) can really give your attorney a leg up on your case. We are always happy to answer your questions so feel free to call us at 503-883-6300.

Insurance Claim Appraisal

Like it or not, the reality is that buses hit things and sometimes get hit. When this occurs, insurances companies may disagree with your assessment of value during the claims process and that can lead to some difficult negotiations.

Our appraisers are experts when it comes time to establish value at various times in history. Typically, we are asked to establish value on buses at the date of loss (DOL). More specifically we are generally asked to establish a true cash value at the (DOL) of a vehicle or a damaged fleet.

Whatever the specific need might be, we can assist you in dealing with insurance matters when it comes to establishing value and supporting your claim.

FAQs?

Why Do I Need An Appraisal?

There are many reasons that having an annual appraisal makes solid business sense. Our customers use their appraisals for their finance and insurance negotiations; to set up the book value of the assets properly on the company’s balance sheet; to uncover hidden equity in their fleet and in their business; to understand the real value of their trades and to negotiate on new or pre-owned equipment purchases. Many of our customers also use our appraisals when they are considering buying a competitive company or preparing to sell their own company. Finally, having an appraisal demonstrates you are a serious business owner and that you have your finger on the pulse of the most valuable assets of your business.

Will an appraisal help me uncover hidden equity in my fleet?

Often times there is a real difference between the market value of a vehicle and the loan balance of the asset. That is like having cash sitting in the bank and that equity can be leveraged for many different reasons. A current appraisal will help demonstrate that equity to your lender. After all it’s your money and you need to access it as you see fit.

Will an appraisal help me in my financial negotiations?

Our customers use their annual appraisals to negotiate with their lenders. Understanding what the amount of equity in the fleet allows operators to use that equity for additional equipment purchases, leverage operating lines of credit and negotiate rates with their lenders.

Will my lender accept your appraisal?

Over the last 30 years, we have done work for nearly every major lender in the business. If your lender is unfamiliar with us, we would be happy to send them our Bios and talk with them about our methodology and modeling process of valuing buses.

Will an appraisal save me money on my physical damage insurance rates?

Yes. Generally, vales on buses diminish as the vehicle ages, if those values do not get updated each your with your insurance company, you could be over paying for your physical damage insurance. At the same time, if you refurbish your bus and rebuild the engine and transmission, your bus might be under insured. A yearly appraisal is a great way of documenting the condition of your bus and its most recent value.

How can an appraisal help me with litigation?

While we hope you never have to ask this question, in today’s litigious environment the possibility exists. If you should ever find yourself on one end or another of a legal issue, you will want to find the best attorney you can find to represent you. You also will want the best expert you can find to help your attorney understand complex issues of your assets. In short, we help your attorney understand your business and assist them in developing strategies to give you the best edge possible in your case.

How can an appraisal help me when it’s time to trade in my bus?

There are two components to trading your bus in for a newer model. Knowing what your bus is worth and knowing what the bus that you are buying is worth. Having a firm grasp on these two issues will help you know if you are getting a good deal or not.

How can an appraisal help me in making a smart buying decision?

Knowledge is power and any time you can demonstrate that you possess the most current information, it sends a strong signal to the person you are negotiating with that you know what you are doing and that you are not about to leave money sitting on the table.

What type of equipment do you appraise?

For 30 years our only disciple has been all types of commercial and school buses. The following list includes the most common types of equipment that we deal with:

• Intercity buses
• Transit buses
• Shuttle buses
• Mid-sized buses
• Mini buses
• School buses
• Trolleys
• Vans
• Livery vehicles
• Limousines
• Taxis
• Entertainer coaches
• Motor home / converted buses
• Crew transport vehicles
• Service vehicles
• Management autos
• Shop equipment
• Parts

Misc.

• Uncover Hidden Equity
• Financing Negotiations
• Insurance Premiums
• Insurance Claims
• Litigation
• Trade Allowances
• Making Smart Purchasing Decisions