How To Get Car Value

[bankrupt_again]

Okay everyone I finally feel like I may be getting somewhere but have yet another question........


Where and how do you get the value for your vehicles when you owe more than they are worth. When I KBB it I got different numbers based on Private Party, Retail and Trade In..... These are big differences the lowest is trade in at 6660 and the Private Party is 8350. and then the suggested is 12,040 so are any of these numbers right or where do I get them.....

I really would like it to be worth the 6660 but with my luck I am looking at the 12,040. I guess still a steal as I still owe 18,000......


Any help would be much appreciated..............

[NowOrNever]

Our trustee thought our truck was worth more than we did. So we took it to some local dealers and had them give us written estimates of what they would give us, in cash, for the truck. Be sure to have the salesman sign it and attach a card so your trustee knows it's legit. Our attorney submitted the lowest one to the trustee. Although it was a little higher than what we had valued it at, the trustee dropped any interest in the truck.

At one Chevy dealership, the salesman said he did this type of thing all the time.

HTH.

[SinkingFast]

Where to get vehicle values really depends on the Court. Some Courts work off KBB. Some go NADA. Kinda depends on the Court where you live.

Our attny used Edmunds.com for our values. He took all 3 values, wholesale/trade-in, private party, and retail, and averaged the 3.

If you want to be more confident about a lower value, NoworNever gave you a good suggestion. Go to a few local dealers. Get them to give you a "Cash. On the Spot." offer in writing for you car. Take the lowest one or average several. However you want to do it.

[chpxiii]

My attorney used N.A.DA. to determine my car's value. I didn't like that because Kelly Blue Book - at the time - had a lower value for the car. I guess, as SinkingFast says, it depends on what your courts use.

[tofargone]

We had to use private party,

on the 12K we owed we are going to pay 10K.

Trade in was 8K, but the lawyer advised us to go at least PP so the bank would not file an objection.