Van Valuation For A DRO

HappyDays1980 · 23 September 2015 at 1:55PM

Hi Everyone

I'm currently on a Token Payment Plan after a break in employment due to illness meant I could no longer afford a DMP.
I was unable to apply for a DRO as I did not meet the criteria, however from Oct I will, due to the changes taking place.
I have today used Parkers online valuation tool for vans and have discovered that the value of my vehicle is now higher than it was back in January meaning I will not be eligible for a DRO. Parkers now shows my vehicle which is over 10 years old at a value of £1495, back in January it was showing as under £1000 as you were then allowed to alter the price depending on the condition of the vehicle, i.e. poor, good etc.
My vehicle is in poor condition as it needs quite a few repairs and does have some body work damage.
Those websites that offer to buy your vehicle are only offering me £400.
How can I prove that my van is not worth what Parkers state, or does anybody know of any other online van valuation sites as most only value cars.

Thanks in advance

debt_doctor · 23 September 2015 at 2:22PM

Hi,

If you can get a valuation from a local trader on headed paper that the condition of your vehicle makes it less than £1000 value then that should be acceptable - I have done that a few times for clients.
Also the £1000 limit is for 'a single domestic motor vehicle' - not a van. Now if you also use the van as your 'car' - going shopping, visiting friends / relatives etc then you could successfully argue that point. Otherwise, currently your van is limited to a value of £300.
Fortunately, on October 1st, not only does the debt limit go up to £20k, but the asset limit goes up to £1k - so less worries for intermediaries on the 'it's a van not a car' situation.
DD

HappyDays1980 · 23 September 2015 at 3:07PM

Hi
Ive just been informed by National Debtlines DRO Team that wise buyer.co.uk can be used in a DRO. This shows prices for different conditions i.e. poor, average etc

fatbelly · 24 September 2015 at 12:08AM

That's http://www.wisebuyers.co.uk/motoring/van-prices/

AG47 · 28 September 2015 at 4:07PM

You have to pay for wise buyers

And you can still adjust the value on parkers

A car's valuation can vary by £1000s depending on its mileage and the options fitted (view example). Access Parkers Online Price Guide to gather unlimited adjusted valuations.

fatbelly · 28 September 2015 at 6:14PM

AG47 wrote: »

You have to pay for wise buyers

And you can still adjust the value on parkers

wisebuyers is free, and is mileage adjusted.

parkers is free for cars younger than 10 years

Van Valuation For A DRO

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free