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huntersrishon
Junior Member
189 Posts |
 Posted - 24 September 2008 : 08:30:52
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Hi
Sorry all the questions, I was awake all night thinking so have loads today.
I have been on Parkers guide and our car is worth part ex 2,915, private good 3,220 and private poor 2,650. Does any one know what figure the OR usually works with???? We think it is in average condition.
If they decided to take it and sold ot for 2,200 would they give us 200 for a car?? If private good is 3,220 and they went with that figure would they take it and give us 1,220 (the difference) if so what would then happen if they then only sold it for say 2,400 can anyone please explain how this whole car thing works!!! We are confused.
There is no finance on the car.
Thanks in advance.
Dee |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 24 September 2008 : 08:44:09
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Hi
The OR will look at it as auction value and I would declare it at around £2,500, which is low enough for them to exempt it. The OR will usually allow up to £3,000 in value to be exempted.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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huntersrishon
Junior Member
189 Posts |
Posted - 24 September 2008 : 08:49:25
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Thanks Suzanne that is a relief.
By the time I pay bus fare to work and hubby gets buses to interviews then hopefully to a job it would cost less to run the car. It is just that the CAB frightened me a bit because they seem to think it will be taken.
Thanks again
Dee |
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John
New Member
United Kingdom
73 Posts |
Posted - 24 September 2008 : 09:07:09
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Hi
for your info and for the benfit of other members I would not advise the use of Parkers guide.
As Suzanne says the OR would look at auction value.
Motor trade experts are recommending to anyone looking to purchase a car to expect a discount of 25% against book price.
Use Autotrader (search nationally) for the make, model, year, mileage and spec of your car. Whatever the cheapest one you can find is up for sale at is a good starting point and I certainly wouldn't go higher as cars are being sold at auction very cheaply at present.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
Edited by - John on 24 September 2008 09:08:06 |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 24 September 2008 : 09:19:26
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The OR seemed to think that my car would be exempt from bankruptcy. He explained that if the car is worth less than £3,000 they more than likely wouldn't take it because they have to give you £2,000 back to purchase another car, then theres the fees and reselling costs etc so it wouldn't be worth taking a car less than that amount.
Maizie |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 24 September 2008 : 09:56:52
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Hi Maizie,
It's interesting to note the OR's allowance for a vehicle seems to have risen from £2500 to £3000 recently.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 24 September 2008 : 10:06:11
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Well in a way I was kinda hoping they would take my car... you can get a really nice car for £2,000 which is more than what my cars worth! 
Maizie |
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Topic |
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Car Value
