DRO car valuation

knickersinatwist

Hi, ive been advised by CAB to apply for a DRO we have done the prelim interview and i qual on my income and outgoings. The only sticky area i have is i am self employed and use my car to travel to my place of work where i sub contract to do admin. I live 3 miles from the main roads where the nearest bus stop is and have to take lots of files and stuff with me as i do some of the work from home. I have just paid for the £3.49 valuation on Parkers as they only do free valuations for cars younger than 06, they have given me a few valuations - £1,055 for private sale in good condition and £1,755 for independent dealer. Obviously both are over the £1000 limit, but which valuation do they use? the private or the dealer price. I was only expecting to get one price so now i am confused. I will wait for a couple of months before i do the DRO if necessary to get the valuation under £1000 as i cannot manage where i live without it (very rural area with limited bus service). Can anyone advise please. I know there have been lots of questions about DROs and cars but none seem to answer my specific question. Many thanks

knickersinatwist

Also how exactly do they verify that the car is yours, do they check with the DVLA or do you have to provide a copy of the V5 when you submit the DRO?
thanks

alastairq

The dealer value may well be what a dealer would sell it for?

The lower valuation is usually applied, especially if the condition of the car is not good?

If you look at your V5c, you will see, in bold print, that the V5c names only the Registered Keeper.....who may not be the actual 'owner'.

If you state the car is your asset, then that is settled.

If you state that the car is not your asset [ie, not owned by you], then you would have to show that the actual owner does indeed own it....a financial paper trail is good evidence.[ Even if your name & address is on the V5c]

If ownership of the vehicle cannot be satisfactorily proven, then the name on the V5c is deemed 'proof of ownership'.

knickersinatwist

Hi, thanks for getting back to me. I paid for the valuation through Parkers as they don't offer one for cars older than 10 years and this is what it said
Franchised Dealer £2,215
Independent Dealer £1,755
Private Good £1,055
Private Poor £700
Part Exchange £780
I would personally consider it to be in 'good' condition so would accept the £1055 valuation as about correct if that is the one that applies. Just wasnt sure if the DRO work the value out using the private valuation that Parkers give or the Dealer one as it isnt clear that the dealer price is what they expect to sell it for. I aksed for a valuation as 'the owner' not for resale. However some threads have suggested the value falls by about £50 a month on a car this age so if i have to i will fend off the co's i owe for another 2 months so it drops below the £1k limit. I'm not trying to cheat the system i just live too far from the main road and the nearest bus stop (which doesnt operate at the hours i need it to) to make it viable to not have my own transport (other than hobson's of course). The reason i asked about the ownership was because my Dad actually paid for the car as he knows i have to have one for where i live but he doesnt drive so the car was registered in my name. Thanks for your advice

fatbelly

knickersinatwist wrote: »

Hi, thanks for getting back to me. I paid for the valuation through Parkers as they don't offer one for cars older than 10 years and this is what it said
Franchised Dealer £2,215
Independent Dealer £1,755
Private Good £1,055
Private Poor £700
Part Exchange £780

You're probably fine already - just give your intermediary the reg number and see what figure they come up with. If it's older than 10 years you don't have to use Parkers.

sourcrates

Can you not just sign the car back over to your dad, all legit and above board.
Remove the car from the equation altogether.

You can still drive/ have use of it, problem solved.

wba31

sourcrates wrote: »

Can you not just sign the car back over to your dad, all legit and above board.
Remove the car from the equation altogether.

You can still drive/ have use of it, problem solved.

This would be disposal of an asset and mean you could see any DRO application revoked.

If your dad bought the car for his own use but you use it more so it's in your name, you would simply need to provide proof he paid for it, but if he bought the car and gave it to you, arguments are that it's now your asset

as Fatbelly said, give CAB your details and see what they say, chances are if a free valuation cannot be obtained they will ask you what you feel it's worth. If your valuation is similar to those for sale on autotrader they will run with that.