dukvet76

So I'm going through a divorce at the moment. My car was appraised last spring for $15,900 Canadian Dollars. In my statement to my ex's lawyer, I put down the fair market value of my car at $8500 Canadian Dollars. So my ex is contesting this saying that the car is worth $15,900. Is there anywhere that I can get a fair market value price for my car? Should I go back to my appraiser.

OT: Hey Moderators ... do you think you can add an avatar of that little guy pissing on the word "MY EX". I'd use it, print it, and put it all over my truck!

SLICKMAN

I would think that fair market Value is what the current market would get you on selling it. The appraised Value would be what the insurance would pay you in the event of a total loss.

Not sure if this is right..

Paul L

Rob,
I am sorry to hear of the personal problems! But cool down and go about this in rational manner, please. No avatar about p.....g on something. The young fellow is looking up to you!

Here is the NADA Guide. It is in US funds but go from there.
http://www.nadaguides.com/
http://www.nadaguides.com/Values/Val...=1976&ColorId=


[Modified by paul79, 10:17 PM 2/6/2003]

Dwayne 76

If I may add, try to keep as much emotion out of a situation that already has too much (easier said then done I imagine) :leaving:


[Modified by Dwayne 76, 10:20 PM 2/6/2003]

lars

duk -
I'm a certified classic car appraiser for the Hagerty Insurance Company, so I run into this quite a bit.

The "appraised value" of a vehicle often differs significantly from "Fair Market Value" or "Actual Cash Value" (ACV) of a vehicle. ACV is also most often significantly different from the NADA and CPI values as well (ACV is lower than NADA).

Appraised value takes into consideration the monies actually spent on the vehicle, what the owner has invested, and a best-case scenario for the sale and transfer of the vehicle. Appraised value attempts to strike a reasonable middle line between what the owner has invested in the car versus what it's really worth in the marketplace, so that neither the owner nor the insurance carrier ends up holding the short end of the stick in the event of a total loss. When selling a car, appraised value is seldom paid by a savy buyer. ACV for a vehicle fluctuates radically based on current market conditions, geographical location, time of year, interest rates, new car buyer incentives, and other factors. The ACV can often be half of the appraised value depending on these factors, and this is what leads to many disputes between policy holders and insurance companies.
If you are needing an ACV appraisal on your car for determination of your Net Worth, a qualified appraiser should be be called in to evaluate your car compared to your local and current market conditions. The vehicle appraisal is not a valid tool for determination of ACV unless the appraiser has been instructed to appraise the vehicle for current ACV conditions in your area.

Cajun99

Lars is right on the money...I've already gone through what you're fixin' to.


Paul79 is right too. Be cool and keep your wits ahead of your emotions. No need at all to get emotional or talk about "mommy" badly near him. It will be difficult enough for him to deal with.

With that said this is for you to look at but not "use".... :jester.
I doubt your son will be reading this thread.
MY EX


[Modified by Cajun75, 10:29 PM 2/6/2003]

tippi58

Current market value. Put it on E bay and see what the best offer is. You can set a high reserve. Maybe $15900.:smash:

Gives you good evidence re its "current value" ie; How much cash you can realise when you sell it. Current market is bound to be depressed with the international crisis up your way.:eek:

The financial climate when it was apprasied to today is now way different.

:cool: :cool: :cool:

Clink69

The fair market today is probably lower than last years. Maybe that will work in your favor...Has the book value taken the depressed times into account?