Are you kidding me?

[Liaah]

I just looked up our 2004 Stratus that we still owe over $9000 on and the Kelley Blue Book retail was $13,000. That's what we paid for the car 2 years ago. Are they seriously going to use that amount? I can't see how I could pay $13,000 for a car 2 years ago and it still keep it's retail value.

Help!

[lrprn]

Edmunds.com lists the dealer retail value of the most expensive SXT 4-door version of your 2004 Status in excellent condition at $8,762 - http://www.edmunds.com/used/2004/dod...5/options.html .

I then went to the Kelley BB site and plugged in the same top model without adding anything to the list of features and same excellent condition in my midwest zip code - the dealer retail value there showed $10,665 - http://www.kbb.com/KBB/UsedCars/Pric...tion=Excellent

Our bk court allows value estimates for cars to be done using Kelley or Edmunds. Courts vary between whether they allow you to use the trade-in, private party, or dealer retail price, or an average of the three.

Go back and try again - your figure can't be right until you have a solid gold hood ornament or something!

[Liaah]

Thanks!

Thanks, we don't have a solid gold hood ornament.

[lrprn]

Thanks, we don't have a solid gold hood ornament.

Liaah, I can't tell for sure but it sounds like I may have hurt your feelings trying to be funny with my crack about the hood ornament. I know you don't have a solid gold hood ornament - far from it! - and if I did hurt your feelings, I apologize.

[SinkingFast]

Liaah, I can't tell for sure but it sounds like I may have hurt your feelings trying to be funny with my crack about the hood ornament. I know you don't have a solid gold hood ornament - far from it! - and if I did hurt your feelings, I apologize.

I thought it was funny, but I can see where Liaah may not have.

Liaah,............

Our attny used Edmund's here. Our cars are older and our attny said, "At best, older cars are only in fair condition. If they've been driven regularly. Now if they've been kept in a garage in pristine condition, that's a different story."

Which one your Court uses, KBB or Edmunds, only attnys in your area can tell you.

One thing you can do to help yourself out,............ Document any defects. If you need some sort of engine repair or body work done, get estimates for the repairs. However much the repairs cost will ding the value of your vehicle.

We took out over half the values of 2 of ours that way. 2 of our cars need some significant cosmetic repairs due to rust damage. I got body shop estimates for the repairs and submitted those to our attny. He "considered" the repairs estimates in the overall valuation of our vehicles.

[demismom]

I have a beef about KBB too! They're valuing our Dodge Intrepid at $3400! DH said if the trustee says he wants it, go for it, he'll even drive it to the 341 and show it to him. There's not a fender panel on that car that doesn't have a huge dent in it. It's been been hit by a deer and a truck (on the hood). Okay okay, we rear-ended someone on an icy road. But still, I think they should definitely take into account the condition some of these cars are in. Geesh! Okay, off my soap box now. ;)

[BKTango]

We used KBB and then just took into effect everything that was wrong with the cars (all 5 of them are 1997 on down to the 80's models) and valued them ourselves. I have a 97 intrepid and on KBB it was around $3400 well I know what's wrong with it, so we valued it at $1800 (I also gave a brief example of problems and major important repairs needed next to the value). The trustee in our district never batted an eye at it. It just comes down to how relaxed that trustee is over the value of used, older vehicles.

[NowOrNever]

Our trustee thought our 2000 Chevy P/U was worth more than we had valued it. So we took it to a couple of local dealers and had them give us written valuations for the truck. Turns out they were a tad more than our valuation, but not near what the trustee had said. He dropped his interest in the truck.

[Liaah]

Oh no, no apology needed!

No apology needed. I was kidding too.

I thought it was funny. I am trying to hold on to my sense of humor

[spell]

Our area uses nada.com and uses the average resale amount. Pre-law change, we used kbb trade-in.
As you can see, you need to figure out how things are done where you are, the price difference can be huge.
If the value ends up too high, do you have a Carmax style place that gives free estimates? This supposedly carries more weight because it's specifically for your vehicle.

[pv34pv3p]

Should have seen my trustee when she saw the pics of my two 47 Willys CJ2A's...One was registered as a 98 Jeep Homebuilt with a chopped 81 Toyota truck frame and VIN...which took a while to explain...I built the other one in Iceland, and neither one has anything left original except some body parts...They've got Chevy Engines, Ford Transmissions, International Harvester Axles, Volvo Brakes...No doors, or windows, wipers are hand cranked...and they've been sitting outside at my sisters house in NV for 5 years...(I'm in FL...)

She asked how much they were worth???? I said...Well...If they were here....and you really knew what you were doing, and rebuilt everything...and I happen to answer the phone when ya call tryin' to figure out what parts I used...and I happen to remember...Maybe...5-6k each... But then again they both need new tires @ $350 a piece...So you tell me...

I'm pretty sure it was at that exact moment I became a no asset case....


pv34pv3p(Haulin' 'em back home this summer...)

[FilingOnMyOwn]

Retail value is irrelevant. You are not a car dealer. A dealer would buy the car from you at wholesale / trade in value, and absorb the cost of selling it.

Trade in value is what you use.