MEC3020 Vehicle Value Appraisal

Advanced · 1 credit · TMT - Trades, Manufacturing and Transportation

Description: Students demonstrate the procedures used by the vehicle repair industry to estimate the cost of a repair and the market value of a vehicle.
Prerequisite: MEC2020: Vehicle Maintenance
Parameters: Access to new and used vehicle reports and other related resources.

Outcomes The student will:

1 demonstrate established safety and care procedures when inspecting vehicles
- 1.1 demonstrate knowledge of and follow predetermined shop guidelines when working on or around vehicles
2 inspect a vehicle to determine its overall condition and repair requirements
- 2.1 investigate and report on the condition of a vehicle using a comprehensive method, including owner interview and inspection report completion
- 2.2 examine and report on the system(s) that require repair to determine the extent of reconditioning required to return the system(s) to serviceability
- 2.3 construct a basis for vehicle valuation by determining the vehicle characteristics that would contribute to market value; e.g., year, make, model, options, mileage, relative condition, emotional appeal, popularity
- 2.4 complete an evaluation checklist
- 2.5 list probable and possible parts required to effect a complete repair using original equipment, aftermarket and used parts
- 2.6 use accepted industry labour guides to calculate the correct labour charges for the required parts replacements, considering all modifications or options to the subject vehicle
3 apply standards used by the vehicle repair industry to appraise the condition and value of a vehicle
- 3.1 identify the wholesale value of a subject vehicle using the accepted wholesale reference guides
- 3.2 calculate the market value of a subject vehicle by comparative pricing on three similar vehicles in the local marketplace
- 3.3 identify the wholesale value of a subject vehicle using the accepted wholesale reference guides
- 3.4 calculate the market value of a subject vehicle by comparative pricing on three similar vehicles in the local marketplace
4 outline the best business practices to follow when situations of uncertainty or conflicting interests occur relative to an appraisal
- 4.1 describe business practices when resolving conflicts related to estimations and evaluations
5 demonstrate basic competencies
- 5.1 demonstrate fundamental skills to:
  - 5.1.1 communicate
  - 5.1.2 manage information
  - 5.1.3 use numbers
  - 5.1.4 think and solve problems
- 5.2 demonstrate personal management skills to:
  - 5.2.1 demonstrate positive attitudes and behaviours
  - 5.2.2 be responsible
  - 5.2.3 be adaptable
  - 5.2.4 learn continuously
  - 5.2.5 work safely
- 5.3 demonstrate teamwork skills to:
  - 5.3.1 work with others
  - 5.3.2 participate in projects and tasks
6 create a transitional strategy to accommodate personal changes and build personal values
- 6.1 identify short-term and long-term goals
- 6.2 identify steps to achieve goals