Probate valuation - Corsa

[soxboy]

Guys,

I've been tasked with finding out the value of my recently deceased gran's Corsa as part of the probate valuation on her estate.

It's a 51 plate Corsa 1.0 Club 12v in silver, with 36,000 miles from new in immaculate condition.

My dad's been in WBAC and been offered £1k for it. I'm sure it's worth more on the private market but I will need to provide a formal indication of value from the Black Book.

Any assistance gratefully received.

Cheers

Mark

[HellDiver]

Go to your local newsagent and look it up in Glass' Guide?

[anonymous-user]

soxboy said:

Guys,

I've been tasked with finding out the value of my recently deceased gran's Corsa as part of the probate valuation on her estate.

It's a 51 plate Corsa 1.0 Club 12v in silver, with 36,000 miles from new in immaculate condition.

My dad's been in WBAC and been offered £1k for it. I'm sure it's worth more on the private market but I will need to provide a formal indication of value from the Black Book.

Any assistance gratefully received.

Cheers

Mark

I sold my 1.0 52 plate corsa comfort for £1700 with 60kmiles.
Sounds like you're getting a bit ripped off.

• Sold it in 2010 April.

[Matt UK]

Use a web valuation guide?
See what similar cars are on AT for?

[robsco]

HellDiver said:

Go to your local newsagent and look it up in Glass' Guide?

Except the value is needed from CAP's Black Book. I'll have a look shortly OP.

[soxboy]

robsco said:

HellDiver said:

Go to your local newsagent and look it up in Glass' Guide?

Except the value is needed from CAP's Black Book. I'll have a look shortly OP.

Thanks, that would be great.

[TheEnd]

http://www.whatcar.com/valuations/result?makeId=20...

[robsco]

Car CAP Cleans at 1300 Soxboy. Retail at 2095 if that helps.

[rallycross]

Are you looking to buy it or are you looking to get the highest price for it?

For probate I think you need two or three quotes so get one from WBAC and one from the local dealership - both will be very low so you get it below market price.

The true value is whatever you can get for it from autotrader, I would think around £2k for it with such low mileage those corsas are much in demand even the little 1.0.

[soxboy]

robsco said:

Car CAP Cleans at 1300 Soxboy. Retail at 2095 if that helps.

That is very helpful, thanks.

[soxboy]

rallycross said:

Are you looking to buy it or are you looking to get the highest price for it?

For probate I think you need two or three quotes so get one from WBAC and one from the local dealership - both will be very low so you get it below market price.

The true value is whatever you can get for it from autotrader, I would think around £2k for it with such low mileage those corsas are much in demand even the little 1.0.

In the first instance I need to give an indication of value. A dealer has offered £850, WBAC £1000. Both of these I thought were far too low.

After that, either we may sell it within the family for a fair price based on the CAP guide, or if that fails then I may have a go at selling it myself privately.

I would have thought as a 1.0 with cheap running costs it would be in good demand.

[rallycross]

soxboy said:

I would have thought as a 1.0 with cheap running costs it would be in good demand.

The Corsa is the number one most popular first time car - with such low mileage it will sell itself in a couple of days - try it at £2250 and see what happens. average mileage for one of them at that age is more like 100k not 30k.

[davidjpowell]

This is a PROBATE valuation. A big valuation will increase the value of the estate, and potentially increase the value of Inheritance Tax, if over the threshold.

I would go for the WBAC price myself...

[Chiswickboy]

HellDiver said:

Go to your local newsagent and look it up in Glass' Guide?

Thought Glass' was only available to the trade, or used to be. My local newsagent certainly doesn't have it.

[Stu R]

davidjpowell said:

This is a PROBATE valuation. A big valuation will increase the value of the estate, and potentially increase the value of Inheritance Tax, if over the threshold.

I would go for the WBAC price myself...

listen to this chap

[paoloh]

Chiswickboy said:

HellDiver said:

Go to your local newsagent and look it up in Glass' Guide?

Thought Glass' was only available to the trade, or used to be. My local newsagent certainly doesn't have it.

You are right, HD was being a div.

[Greg_D]

Stu R said:

davidjpowell said:

This is a PROBATE valuation. A big valuation will increase the value of the estate, and potentially increase the value of Inheritance Tax, if over the threshold.

I would go for the WBAC price myself...

listen to this chap

i wouldn't,

money is money (we are only talking about a few hundred quid, but the principal is the same)
If disposing of an asset for £1000 more sent you £1000 over the tax threshold, you would still get £600 extra in your pocket over the lesser value, it works like any other tax.

[davepoth]

Take it down the to local Vauxhall dealership, ask for a valuation in writing. It'll be low, but fine for the purpose - Ford gave me a valuation of £625 on a fiesta that the insurance company paid out more than £1200 for 5 years later...

[soxboy]

davidjpowell said:

This is a PROBATE valuation. A big valuation will increase the value of the estate, and potentially increase the value of Inheritance Tax, if over the threshold.

I would go for the WBAC price myself...

The estate is well below any threshold so it shouldn't be an issue. After the house and a small amount of money, the car is the largest asset so having a good indication of value is important - don't want any family arguments as to things being sold off too cheap!

[jagracer]

Greg_D said:

Stu R said:

davidjpowell said:

This is a PROBATE valuation. A big valuation will increase the value of the estate, and potentially increase the value of Inheritance Tax, if over the threshold.

I would go for the WBAC price myself...

listen to this chap

i wouldn't,

money is money (we are only talking about a few hundred quid, but the principal is the same)
If disposing of an asset for £1000 more sent you £1000 over the tax threshold, you would still get £600 extra in your pocket over the lesser value, it works like any other tax.

Getting a valuation for probate has fk all to do with what it is sold for at a later date, for probate you put the lowest possible value you can find and get away with.