| T O P I C R E V I E W |
| charlie44 |
Posted - 19 January 2010 : 14:45:37
If the OR takes your car, what sort of costs would it be for them to dispose of it.
Life`s Tragedy is that we get old too soon
and WISE too late! |
| 8 L A T E S T R E P L I E S (Newest First) |
| chester2005 |
Posted - 20 January 2010 : 19:18:17
I would offer at least 500 less tha its value firstly as you can always go up but not down
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| gettingoutofdebt |
Posted - 20 January 2010 : 15:17:31
I would think you could offer the OR a slightly lower price that the actual value i.e. the OR may value the car at £1000 but by the time they have paid agents to dispose of it, etc. they may only get £800.
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| Housing |
Posted - 20 January 2010 : 15:00:29
Hi again,
If you are in discussion with the ORs office and have an agreement in principle with them over the BI on the vehicle, may be worth you seeing if they will accept some negotiation.
I have to say, I have no experience of this and say my situation was very straightforward and worked very well.
I would wait and see if one of the other insolvency experts respond to your thread.
Whatever happens, I hope that you get a good outcome, my regards to you and yours, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
| charlie44 |
Posted - 20 January 2010 : 14:36:04
Hi Richard thanks for that. The reason I was asking is that the OR has said my son can buy the BI of the car for us, I was just wondering whether it was worth trying to barter with the OR, or just accept the figure they ask for. I thought it may be possible to get the price reduced, as they would not have the costs of getting rid of the car.
Life`s Tragedy is that we get old too soon
and WISE too late! |
| Housing |
Posted - 20 January 2010 : 13:20:20
Hi,
Just sharing my situation.
The OR said at my interview that my car was going to go. No problem.
An agent called to value and report back to the OR.
The agent contacted me to say they were collecting the car and it was to be sold by auction/tender
I then had a call some 2/3 weeks later to say the car was sold, and I could select a car to the value of £2,000.
I was told to find a car, report the details of the dealer/seller to the agent and collect the cheque.
This I did and I have a nice little run around that does me just fine - clean and low mileage.
I appreciate the finance company got nothing, the agent got his fee, the OR got some money and I got a car.
Now, I am not saying this is the norm, but be positive and the same may happen to you, regards, Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and hero of mine!!) |
| charlie44 |
Posted - 20 January 2010 : 13:15:51
Thanks for the replies.
Life`s Tragedy is that we get old too soon
and WISE too late! |
| chester2005 |
Posted - 20 January 2010 : 11:37:04
in the non OR world the recovery company is likely to charge £250 plus the auction will have a charge for entry into their sale and charge a commission on the sale price achieved.
depending on the value of the car you could easily be talking £500
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| gettingoutofdebt |
Posted - 19 January 2010 : 14:52:21
I am not too sure of the costs but you can read the Technical Manual regarding the disposal of motor vehicles - http://www.insolvency.gov.uk/freedomofinformation/technical/TechnicalManual/Ch25-36/Chapter31/part2/part4/part_4.htm
Even though the Manual mentions private sales of vehicles I would think that most OR offices would have local agents that they use to dispose of the vehicles for them. |
