Car value £1000 questions

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If doing a DRO and you drive an old banger, how can you get proof if worth under £1K

many times a car is not worth repairing as it costs more in maintenance than to buy a new car.   

surely for DRO purposes it’s better to keep the old banger and put down on expenses very high maintenance costs


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  • peterparker12
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    They use Parkers valuation so just jump on that 
  • danjackson2021
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    They use Parkers valuation so just jump on that 
    I suppose it’s a matter of opinion which category each car fits in there are three as far as I remember mint, middle and scrap or something like that?

    the last category is almost certainly less than a grand

    bit how can you prove you car is so poor condition and this is why you have such high maintenance costs per month?

    they may say you are paying more maintenance on that old banger than t would cost to hire a new car, but of course now your credit rating is shot to bits you could never get approved to hire a new car even if it works out cheaper
  • ToxtethO'Grady
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    In a  DRO they don't look at the maintenance as much as they do in BR, it's more the value of the car on Parkers and they'll go with the lowest usually. If there's a dispute about the value you would get 2 independent valuations from different garages, they won't accept from WeBuyAnyCar.com or anything like that.

    The value of the car has recently increased to £2000 anyway so that should help a lot of people.
  • danjackson2021
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    In a  DRO they don't look at the maintenance as much as they do in BR, it's more the value of the car on Parkers and they'll go with the lowest usually. If there's a dispute about the value you would get 2 independent valuations from different garages, they won't accept from WeBuyAnyCar.com or anything like that.

    The value of the car has recently increased to £2000 anyway so that should help a lot of people.
    Thanks that’s reassuring when you say they don’t look at the maintenance as much in a dro. Because mine looks extremely high every month but that’s just because it’s such a ratty old car on its last legs
  • sammyjammy
    sammyjammy Posts: 7,417 Forumite
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    When you say unreasonable how much are we talking?  
    "You've been reading SOS when it's just your clock reading 5:05 "
  • MalMonroe
    MalMonroe Posts: 5,783 Forumite
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    If doing a DRO and you drive an old banger, how can you get proof if worth under £1K

    many times a car is not worth repairing as it costs more in maintenance than to buy a new car.   

    surely for DRO purposes it’s better to keep the old banger and put down on expenses very high maintenance costs


    Are you in Northern Ireland? If you are it's a car worth up to £1k but if not, you can have a car worth up to £2k. See the link below, scroll down to "Will I lose my car if I have a debt relief order?"

    https://www.stepchange.org/debt-info/how-assets-affect-a-debt-relief-order.aspx

    When I applied for my DRO a few years ago I just put that it was worth £800 as that was the going rate at that time for an old Toyota Yaris and the allowance on a DRO wasn't as generous as it is now. It's only for a year though so I really wouldn't worry too much about it. My trusty Yaris lasted two years after my DRO finished and wasn't very costly to maintain. I'd looked after it well since I got it so maybe that was the key, whatever, I'm a dedicated Toyota owner now and have a newish Aygo. There's light at the end of a DRO and it's not as restricting as a bankruptcy. I'm really glad I took on a DRO, although it did feel very daunting at the time. Besides anything else, it taught me how to budget properly.
    Please note - taken from the Forum Rules and amended for my own personal use (with thanks) : It is up to you to investigate, check, double-check and check yet again before you make any decisions or take any action based on any information you glean from any of my posts. Although I do carry out careful research before posting and never intend to mislead or supply out-of-date or incorrect information, please do not rely 100% on what you are reading. Verify everything in order to protect yourself as you are responsible for any action you consequently take.
  • sourcrates
    sourcrates Posts: 29,000 Ambassador
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    If doing a DRO and you drive an old banger, how can you get proof if worth under £1K

    many times a car is not worth repairing as it costs more in maintenance than to buy a new car.   

    surely for DRO purposes it’s better to keep the old banger and put down on expenses very high maintenance costs


    You don`t need to supply any evidence, just whatever Parkers guide lowest value is.

    As for maintenance, your DRO only lasts a year, so, depending on the mileage you do, you don`t need to inflate the figures too much, you may, for example, just have got the car serviced, so may not need anything spending on it for another year, so you wouldn`t need much in the maintenance pot would you, just use common sense.

    After all, your budget and figures are not checked up on, old bangers these days are not the same as old bangers of years gone by.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • danjackson2021
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    If doing a DRO and you drive an old banger, how can you get proof if worth under £1K

    many times a car is not worth repairing as it costs more in maintenance than to buy a new car.   

    surely for DRO purposes it’s better to keep the old banger and put down on expenses very high maintenance costs


    You don`t need to supply any evidence, just whatever Parkers guide lowest value is.

    As for maintenance, your DRO only lasts a year, so, depending on the mileage you do, you don`t need to inflate the figures too much, you may, for example, just have got the car serviced, so may not need anything spending on it for another year, so you wouldn`t need much in the maintenance pot would you, just use common sense.

    After all, your budget and figures are not checked up on, old bangers these days are not the same as old bangers of years gone by.
    No my car needs constant repairs and very expensive 


    can anyone confirm in England is it £1000 for a car and £2000 for total assets? Or could your car be valued at £2000 if no other assets?
  • ManyWays
    ManyWays Posts: 164 Forumite
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    Its £2000 for car PLUs £2000 for other assets
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