how to prove car worth?

Douggy

what proof is needed to show the value of an asset?

specifically a car?

thanks!

handyman123_2

Hi mate, if you want to prove the value of your motor. Glasses guide is a good place to start. Make, Model, Year, Mileage, Condition, Extra's.

Autotrader will give you a good idea if you run a search on similar cars, prices are lower in the north, higher in the south.

If you want a low value, try we buy anycar.com they only offer the bare minimum. At the end of the day a car is only worth what a buyer wil pay for it.

If you realy need something official a Motor Engineer recognised by the Insurance companies will give you a valuation but this will cost.

Hope this helps, handy.

Douggy

thanks for that. It's relating to having to prove my assets if I go for a Debt relief order. Car must be under £1000, but wondering what proof will be required - is an email response from webuyanycar good enough, anyone know? many thanks!

fatbelly

Douggy wrote: »

thanks for that. It's relating to having to prove my assets if I go for a Debt relief order. Car must be under £1000, but wondering what proof will be required - is an email response from webuyanycar good enough, anyone know? many thanks!

Should be valued on Parker's guide.

Cars
Valuations of cars, taking into consideration their age, mileage and condition, can be obtained using the online Parker’s Guide website. Please navigate to this site via the following link:
http://www.parkers.co.uk/cars/prices/

Please note that you should take the debtor’s description as to the condition of the vehicle when deciding which value to use from the guide e.g. Private Good or Private Poor.

This website should be used to verify the debtor’s valuation of their car prior to entering the value of the vehicle on the application form.
It should be noted that the Parkers website only provides free valuations for cars registered from 2000 onwards. Therefore, in the case of older cars, an intermediary is permitted to accept the debtor’s own valuation for the purposes of the application. However, the debtor should be made aware that the Official Receiver may make enquires as to how the valuation was arrived at, and if the Official Receiver determines that a deliberate undervaluing has taken place this may result in the revocation of the DRO and criminal or civil sanctions.

Douggy

you know your stuff! cheers!

so my 1999 vehicle would be taken at my word in theory.ok - i guess i could take along evidence of my own research too. thanks again.

fatbelly

Douggy wrote: »

you know your stuff! cheers!

so my 1999 vehicle would be taken at my word in theory.ok - i guess i could take along evidence of my own research too. thanks again.

Personally (yes I'm an intermediary for DROs) I use Wisebuyers guide for pre-2000 cars. I always use the 'poor condition' valuation. I lodge a print-out from the site in my file but have never yet been asked to justify the figure.

It's unlikely an 11-year old car is going to cause any problems. What have you got?