I am desperately looking for a car to downgrade to before going BR in Jan/Feb. (my current car is worth 4500-5000 and I use it daily for business miles) It is imperative that I find something respectable as image is important for my job. I also dont want to pay thousands for something I dont like, this whole process is painful enough already...
Can anybody help? The car I have found is priced in the Parkers guide as follows.
The miles on it are average and I live in the Brighton area. What is my worst case scenario? would I have to perhaps pay a few hundred to the OR to make up the difference?
If your car is worth only £2320 in the parkers guide and you need it for your work then the OR should let you keep the car. As long as you pay the difference between the value allowed and what the OR values you car at.
My OR as allowed me £2000 for a car in my self-employment. The only thing is in the parkers guide my car is valued at £2235 and the OR agent as valued it at £2750, so he would want £750. I believe the agent as over valued my car and I will be disputing his value. So the same might happen with you, who knows?
But I think your car should be safe based on the parkers guide value.
This is a good question and one that I wish I could answer.
I always thought it was the lowest valuation. That's why I suprised with the value they had put on my car which was the top book price. This seems an unrealistic value because they would get now where near this in auction.
Mmm I'm sure you are right. Reading your thread though I really dont see any reason why you cant win your dispute. It surely isn't worth their while. I would be tempted to print a quote off from somewhere online like webuyanycar.com If nothing else it might bring down there overall percentage.... they were offering £3300 for my car which is valued £5000 in Parkers..
From my experiences with car values this year it is clear that they are dropping like a stone each month.
Many dealers that I speak to don't go by the book values or auction prices at the minute because they are so far out.
You must also remember that the agent acting for the OR only gets paid if a transaction happens so it is in their interest to try to get a high price even if they don't eventually achieve it.
We did have a gent earlier this year who had his car collected by the OR's agent because it was worth £2900, he was sent a cheque for £2000.
He asked the chap who collected it where it was being taken to and made sure he went to the right auction.
Wierd thing is he bought the car at auction for £2,100 including fees.
Probably an isolated incident but seems a waste of everyone's time and money.
Paul Johns Assisted Bankruptcy Specialists Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK www.revivauk.com
I am desperately looking for a car to downgrade
Posted - 28 November 2008 : 12:11:06
