What a bank-ready motor valuation report should include

A motor valuation report is only useful if the bank, asset financier or insurer accepts it without coming back with questions. Most rejections come down to missing identification, an unclear basis of value, or a value nobody can trace back to evidence.

1. Assignment details

Who instructed the valuation, the assignment reference, the purpose (financing, insurance, disposal) and the inspection date and location. The purpose matters: it decides which value the client needs.

2. Positive identification of the vehicle

Make, model, year of manufacture, registration, chassis and engine numbers, odometer reading, fuel, transmission and colour, checked against the logbook and the physical vehicle. A mismatch must be flagged in the report, not quietly corrected.

3. Photographs

Front and rear three-quarter views, interior, dashboard with the odometer, chassis plate and any damage. Photos should be dated and tied to the assignment.

4. Condition assessment

Body and paint, mechanical condition, interior, tyres and fitted extras, each with a short finding. Damage and repairs should be specific about location and severity.

5. Market evidence

The comparable vehicles used, with year, mileage and price. Be clear about what each figure is: an asking price on a listing is not a completed sale price. Show the adjustments made for mileage, condition and extras.

6. The values, with the basis stated

State the basis of value, for example market value for a private sale, and give the value clearly. Many lenders also want a forced-sale value for recovery scenarios.

7. Review and sign-off

Who inspected, who reviewed and who approved, with dates and signatures. A second pair of eyes before release catches most errors.

Where software helps, and where it should not

Software can read logbook details, keep photos tied to the assignment, flag likely damage, gather comparables and produce the report in the client’s format. It should not set the value. The valuer’s judgement and signature are what the bank is relying on.

See our sample report for a fictional vehicle for this structure in practice.