Car valuation for a will/estate

redsteveireland · 04-10-2024 2:23pm #1

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 · 04-10-2024 2:32pm

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 · 04-10-2024 2:39pm

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 · 04-10-2024 2:44pm

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 · 04-10-2024 2:45pm

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 · 04-10-2024 2:46pm

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

3d4life · 04-10-2024 2:58pm

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 · 04-10-2024 3:13pm

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 · 04-10-2024 3:19pm

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 · 04-10-2024 3:26pm

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 · 04-10-2024 3:30pm

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 · 04-10-2024 5:30pm

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 · 04-10-2024 8:17pm

10 year old car with substantial body damage?

I'd be looking at scrap value.

User1998 · 04-10-2024 8:37pm

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 · 04-10-2024 8:43pm

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 · 04-10-2024 9:15pm

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.

Car valuation for a will/estate

Comments