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debtrider
Junior Member
494 Posts |
 Posted - 24 September 2008 : 10:21:09
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Hi
I have been reading many posts on allowable car value by OR. Some say £2000 some say £3000, so there does not seem any clear guide on this. What i find hard to understand is if you are self employed and need a vechicle to earn a living, and probably do many thousands of miles on business.I do not believe going out and buying a car from a garage worth £2000 will get you a lot especially if you need a reliable car to last. I am not talking about a car worth £10000 or driving around in a rolls royce. I just think £2000 is not a reasonable amount for someone who uses the car for business and does above 10000 miles a year. Basically what it means is, if you have not got a reliable car for your business then you can not earn a living.
I have a ford focus estate car registered in 2003 and I believe it would be worth around £2700 part exchange. I have had it serviced on a regular basis and it is reliable. I need and estate car for my work and travel around 12000 per year on business. If the OR says I will have to sell my car and buy a vehicle for £2000 then this would make no sense at all to me. I have seen the cars worth £2000 on the garage forecourt, small cars, or larger cars that have done well over hundred thousand miles. So this would be totally unexceptable to me. If I could get someone to buy the interest in my car would this be acceptable?
Thanks Debtrider |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 24 September 2008 : 10:26:46
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Hi debtrider
I can totally understand what you are saying but thought I would comment that my car is worth less than £2,000 and I do 14,000 miles a year for work and my car is very reliable. You can get good quality cars that are reliable for under £2,000, I guess you just have to shop around a bit.
What I'm saying is, if the OR does take your car (and I am seriously hoping they don't) that its not the end of the world, getting another car for that amount that is reliable and tidy is achievable. Good luck.
Maizie |
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maizie
Average Member
United Kingdom
566 Posts |
Posted - 24 September 2008 : 10:28:13
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lol you watch now... my car will breakdown!!! 
Maizie |
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debtrider
Junior Member
494 Posts |
Posted - 24 September 2008 : 10:57:22
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Thanks for your reply Maizie. Hope your car doesn't break down. I am sure you are right but i would rather keep my own being because I know where it's been.
Debtrider
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John
New Member
United Kingdom
73 Posts |
Posted - 24 September 2008 : 11:24:12
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Hi debtrider
if the Part Ex value is £2700 the auction value is likely to be less than £2K so I'm sure you will keep the car as you use it for your business.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Self Employed and Car
