Car value for DRO?

jellybelly63

Hello Everyone
I am single, without kids and was made redundant a few months ago. Since then i have struggled to pay my credit card debt (4K) as my only income has been Jobseekers Allowance and i have nothing left for debt repayment at the end of the month.
I went to the CCCS website, put in my details and it was suggested that my best option would be a DRO.
However, i do have a car and I didn't think that it was worth more than £1000 when i did the questions on the CCCS website.
To check, i went to the Parkers website and it gave me a value of £870 for my cars mileage (145'000-its ex-fleet) and condition ( 'poor' - local kids have caused quite a bit of damage and my dogs have 'roughed up' the interior)
However, i had to pay for the 'premium' service in order to adjust for milage as the free service doesn't let you do this.
The value of my car will be over £1000 if i don't adjust for mileage. (£1305)
What i would like to know is (before i pay my £90 which i think is non-refundable?) how will i know that my car will be correctly valued?
Very many thanks-and so sorry for going on so much!

wba31

jellybelly63 wrote: »

Hello Everyone
I am single, without kids and was made redundant a few months ago. Since then i have struggled to pay my credit card debt (4K) as my only income has been Jobseekers Allowance and i have nothing left for debt repayment at the end of the month.
I went to the CCCS website, put in my details and it was suggested that my best option would be a DRO.
However, i do have a car and I didn't think that it was worth more than £1000 when i did the questions on the CCCS website.
To check, i went to the Parkers website and it gave me a value of £870 for my cars mileage (145'000-its ex-fleet) and condition ( 'poor' - local kids have caused quite a bit of damage and my dogs have 'roughed up' the interior)
However, i had to pay for the 'premium' service in order to adjust for milage as the free service doesn't let you do this.
The value of my car will be over £1000 if i don't adjust for mileage. (£1305)
What i would like to know is (before i pay my £90 which i think is non-refundable?) how will i know that my car will be correctly valued?
Very many thanks-and so sorry for going on so much!

I reckon CCCS will only get the free valuation, so will see £1305. Send them the valuation you have, but also get written valuations from second hand car traders, 2 or 3 at most will suffice. CCCS will then use these valuations as they know Parkers is inaccurate.
The DRO Unit will go with whatever your intermediary from CCCS puts on your forms, they won't be checking Parkers, so you just need to provide the evidence of true value to CCCS

debt_doctor

Hi,
I've had to do this 3 times for clients where there were reasons to dispute the free parkers valuation.
Your intermediary would have to supply your proof to the DRO unit for them to evaluate it (it is a good idea for the intermediary to email the DRO unit prior to application)
The following 3 variants have been accepted when I submitted them;
1) an adjustment (varified by 'parkers plus') that the vehicle had done far more than average mileage, and therefore worth less.
2) a dealer stamped 'part exchange' offer, stating that the vehicle, due to accident damage was virtual scrap.
3) Photographs of vandalised paint work to show that the vehicle didnt meet the 'poor' level of parkers.

It is always an increased risk to the DRO fee if you have to argue your case to the DRO unit.

DD

wba31

debt_doctor wrote: »

Hi,
I've had to do this 3 times for clients where there were reasons to dispute the free parkers valuation.
Your intermediary would have to supply your proof to the DRO unit for them to evaluate it (it is a good idea for the intermediary to email the DRO unit prior to application)
The following 3 variants have been accepted when I submitted them;
1) an adjustment (varified by 'parkers plus') that the vehicle had done far more than average mileage, and therefore worth less.
2) a dealer stamped 'part exchange' offer, stating that the vehicle, due to accident damage was virtual scrap.
3) Photographs of vandalised paint work to show that the vehicle didnt meet the 'poor' level of parkers.

It is always an increased risk to the DRO fee if you have to argue your case to the DRO unit.

DD

I never submitted any evidence to the DRO Unit, they will take the intermediary's word for it as they will only want to see evidence if the case is looked at by part of an audit. the only person who needs to be satisfied with the evidence is the intermediary.
A part exchange offer isn't a valuation of the vehicle, it's what a dealer is willing to pay in order to sell the car for a profit. I saw a number of cases where the part ex offer was £800/£900, and when asking for an actual valuation it came back as £1300/£1400.
OP, to be on the safe side I would recommend getting an actual valuation as opposed to a part ex valuation, just incase your intermediary wants to see that

debt_doctor

wba31 wrote: »

I never submitted any evidence to the DRO Unit, they will take the intermediary's word for it as they will only want to see evidence if the case is looked at by part of an audit. the only person who needs to be satisfied with the evidence is the intermediary. It is the debtor who needs to satisfy themselves of the vehicle value, they are the ones who have ultimate responsibility - an intermediary can take (in the case of older cars) the debtors word for the vehicle value. In circumstances where the vehicle is too old for a free valuation, I take the debtors word for the valuation.
I find (and so do my colleagues) that clients prefer to 'prove their valuations' in unusual circumstances where there is a free on line valuation showing their vehicle as worth more than £1k in 'poor' condition.
A part exchange offer isn't a valuation of the vehicle, it's what a dealer is willing to pay in order to sell the car for a profit. I saw a number of cases where the part ex offer was £800/£900, and when asking for an actual valuation it came back as £1300/£1400. The part exchange example was that in the dealers opinion the vehicle only had a scrap value, no other valuation was given.
OP, to be on the safe side I would recommend getting an actual valuation as opposed to a part ex valuation, just incase your intermediary wants to see that

I shall continue to put the information to the DRO unit to prevent any come back for the client at a later date.

DD

wba31

debt_doctor wrote: »

I shall continue to put the information to the DRO unit to prevent any come back for the client at a later date.

DD

I don't know what your experience of the IS is when they have queries in the DRO, but for myself and my colleagues they will always come back to us, irrelevant of whether the DRO is in month 1 or 11.

I understand your point about it being the client's responsibility to prove value, but the client advised they are with CCCS, I know some advisors who work in the DRO team at CCCS and I answered with the info they have told me about what they expect...

debt_doctor

Ive had to talk with the DRO unit on occassions as we all do. The first time we had to challenge a parkers valuation we rang the DRO unit and it was they who said they wanted us to send the extra proof to them along with the clients signed declaration, which is probably why we have continued to do so? - perhaps a different person at the DRO unit would not have asked us to do that?

Ultimately all intermediaries operate in slightly different ways and I suppose this poster will have to comply with what his intermediary wants (or doesn't want)

DD

debtinfo

i dont see why anyone would want to chance it, doing as DD says and proving the case before asked will surely lead to a smooth passage of the DRO application

jellybelly63

Thank you so much for taking the time and trouble to reply.
I will certainly get a couple of valuations and see what comes up.

Thanks again
JB