car valuation.

elljay

How does the OR assess the value of you car if it isn't in Parker's or Glass's list? Mine is Y reg, done 150k miles but although a Honda, was an import.

TheGardener

Use Parkers etc to find the closest similar make/model to get what you believe is a reasonable price. If the OR disagrees, they will have to find an alternative value themselves I guess?

egrescrimp

Used the parkers guide for our car valuation when filling in my forms, however it was referred to another company for a valuation which came back a lot lower than Parkers guide

elljay

Ah, right, thank you, that's helpful. I didn't realise I would have to find the value, I assumed that the OR would do that - though presumably they check my figures. I'm still unsure which way to go for the best and am also considering an IVA - I gather the rules on vehicles and IVAs are more lenient. I really want to keep this car for sentimental reasons, battered though it is, but also want to maximise the amount my creditors receive. Probably not a compatible aim but still...

alastairq

.............the OR doesn't 'find' a car's value, but they might try to negotiate on it.

[After all, the OR doesn't know the true condition of the car? The BR does!]

debtinfo

Another thing to note is that. The OR employs agents (local auctioneers and such like) so if they need a value on a difficult item (of any type) the agent will value it and can physically visit the vehicle if necessary.

owlet

The other thing to consider is that the car is a Y reg (old), 150k on the clock & the OP says it's battered.... There is a high chance the OR won't have an interest in it anyway because it's value is probably low. It's worth getting a valuation and then go from there. The OR had no interest in my little run around that was valued at about £450. But there have been odd cases on here where the OR has taken the car anyway so it's not a guarantee. Can you come up with good reasons for keeping the car? If so, you can put your case to the OR and possibly get to keep it.