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The Appraisal Error That Appears Three Months Later

A used-car appraisal can be wrong on day one and still look acceptable for weeks. The outgoing deal is delivered, the customer is happy and the trade sits in stock with a respectable-looking gross target. The error becomes visible later: reconditioning exceeds estimate, enquiries are weak, price reductions begin, floorplan accumulates and the vehicle eventually wholesales below carrying value. By then the loss appears to belong to used cars, even though the economic mistake may have occurred...