Car valuation for a will/estate

redsteveireland

I'm trying to figure out the best way to get a car valued that belonged to a late relative.

The car is a 2014 Hyundai ix35 100,000kms. Valuation websites say €10,000. The only thing is the car has damage all around it. The boot lid is heavily damaged, as is the rear passenger door. All 4 corners have wall rash and i'm pretty sure it spent many days travelling through fields.

Do I take it to a repair shop and ask how much to repair and subtract from €10k, or ask a garage what they would give as a trade in?

Buddy Bubs

https://www.boards.ie/discussion/2058372142/car-valuation-for-a-will-estate

Put it up for sale and see what offers you get. Doesnt sound like it is worth much to be honest

I'd be inclined to keep it outside of the estate if you get me….easily done

3d4life

If you have to leave it in the estate then I would say what you are looking for is not

"…what they would give as a trade in?"

but what would they give to buy it. i.e. a clean sale to the garage … the ex owner wont be looking for another set of wheels :(

Isnt there a Legal forum somewhere on here ? … wonder what suggestions you would get there …

redsteveireland

People make ridiculous offers on good cars when you put them up for sale so I don't know how that will work out. Its part of the estate so it needs to be dealt with.

JVince

Bring it to Merlin Car auctions and ask them what they expect to get.

I'd suspect €5k-€6k if all sides have some form of damage.

Trade-in value will be inflated as they'll build in some of the margin they have on the car they are selling. A garage will want to clear €1,000 - €1,500 on a car sale.

If you know a local dealer, just ask them what they think as a trade sale price. It will give you a guideline to work on.

redsteveireland

Do garages do straight purchases? I've never experienced it so didn't know it was a thing.

3d4life

https://www.boards.ie/discussion/comment/122684130#Comment_122684130

Yes, most do. Circumstances such as yours would be typical. Expect a really low ball offer….such is life :(

AnRothar

You suggest that there is a notional value of 10k but it's not pristine.

Your problem is that people can have funny ideas of what things are worth.

Believe you me that you are on a hiding to nothing here.

if you are the executor just advise the beneficiaries that you are selling and will include whatever it makes in the general pot.

TradeTrade sale to a garage willing to accept it or an auction.

Far better for transparency.

Keep records. You will probably get no thanks.

redsteveireland

https://www.boards.ie/discussion/comment/122684126#Comment_122684126

Thanks I'll try that, I'm the wrong side of the country but maybe I can contact them and send pictures.

Atlantic Dawn

Can you see if any of the beneficiaries is interested in taking the car as part of their inheritance, agree a fair price taking in to account the repairs needed between the other beneficiaries. The auction route will get a terrible price but will be easiest option.

JVince

Once you get a "trade sale" or auction valuation, offer it at that price to anyone named in the will. If more than one offers to buy it, draw a name from a hat. If no-one makes an offer, flog it.

enricoh

Has it been driven, if lying up a few years new battery, brake calipers seized, tyres perish etc . Get it moving asap, forget about repair shops. Anyone in the family need a car ?

junkyarddog

10 year old car with substantial body damage?

I'd be looking at scrap value.

User1998

https://www.boards.ie/discussion/comment/122685287#Comment_122685287

Find me running 10 year old cars for scrap value and I’l buy 100 of them off you

User1998

OP the fact it has very low mileage makes it worth about €7,000 in my opinion. The cheapest one online under 120k km’s is €10,450. This is assuming it just needs a few panels resprayed and is in good mechanical order.

If I was buying it myself to sell I might aim to get it a bit lower than that so I’d say traders/dealers might only offer €5,000 or so but its definitely worth a bit more than.

AnRothar

https://www.boards.ie/discussion/comment/122685374#Comment_122685374

to the OP this is the nub of the problem.

in theory the car may be worth 10k.

in reality it's is probably somewhere between 5k and 7k.

If you are the executor it's up to you as to much of YOUR time and effort you can or are willing to give to realise the higher figure.

beachhead

https://www.boards.ie/discussion/2058372142/car-valuation-for-a-will-estate

Why do you need a valuation of the car? Is one beneficiary looking for their cash share sooner rather than later and you feel oblied to pay them asap? As an executor you must get the best possible price for the car.It seems the only way to do that is at auction now in its present condition.Or take it to a panel repair shop for costing-estimate close to e10,000 repairs and deduct that cost plus a discount of another 2-3,000 to a private buyer.Result not worth very much.

redsteveireland

https://www.boards.ie/discussion/comment/122684321#Comment_122684321

Looking into this option, one party interested

redsteveireland

https://www.boards.ie/discussion/comment/122684705#Comment_122684705

I have driven it this week, its drives well but….i've taken a look at the obvious this week, needs work on the brakes, at least one rear caliper is rusted away, tyres are old, not sure when it was serviced as the oil is not too healthy looking.

I might take it myself for the young lad to learn how to drive a manual, we have 2 automatic cars, and not be too worried about a few scrapes.

redsteveireland

https://www.boards.ie/discussion/comment/122686311#Comment_122686311

Everything in someones estate needs to be valued for probate.

AnRothar

I might take it myself for the young lad to learn how to drive

Just make sure you communicate this to the beneficiaries and they are onboard regarding agreed value.

.

R.O.R

There are a few websites where you can put the vehicle details in, upload some pictures, submit it and get an offer.

Autobuy

ZuCar

Webuycars

Are the first 3 that come up on Google for Ireland. Submit requests to all 3, average the prices and use that as the value. You'll have a trail of where prices came from doing it that way.

They won't be the best prices the vehicle could achieve, but they will be realistic valuations suitable for probate.