SWMBO and I have decided to buy my late mother's car from her estate.
To be fair to the other beneficiaries I am seeking a valuation for it. I am seeking other opinions including a Nissan Franchise dealer.
The car is a 1999 T reg Nissan Almera SLX 5 door automatic with 23,000 miles (SWMBO will acually drive an auto - manuals are out of the question).
The car has some very minor damage to the front of the bumper, which has been badly repaired. In addition there are a few scratches and some of the bumper trim has come off
I am looking for the type of valuation equal to what I would get for a relitively quick sale. Not necessarily an auction price but not one that may get a sale if the sun is shining.
Any advice would be gladly received.
Hugo
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Sorry to read the reason for your post.
Rather than lots of \'I think it\'s worth\' comments, the dealers figures should be OK.
You could back them up with a copy of a www.whatcar.co.uk valuation, from their site. It\'s free & as acurate as most of these guides can be.
The damage you mention sounds like being couple hundred £££ quite easily, so don\'t forget a proper estimate for this, too.
Hope this helps.
VB
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Sorry can't help here H but our commiserations on your sad loss. Take care! - V.
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Ask on eof the garages who advertise: "cars bought for cash" for a quote and then ask them to confirm it in writing.
You will need something in WRITING for probate..
madf
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Thanks for all your messages of condolances, including one from Adski (I think that's what you call yourself) on my other thread.
Thanks also for your advice.
The local Nissan Dealer - Mumfords of Plymouth has offered to give me a would buy price in writing. So I'll probably take them up on that offer.
I think that if I was to sell it I would probably go to someone like this for a worst case figure.
Hugo
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Hugo, one urgent item you will need to attend to: Insurance.
The cover for the car ceased when your late mother passed away. If the car is currently stored in a private driveway or garage, any damage to property as a result of anything happening to the car will NOT be covered by house and contents cover. We found this out when my father passed away 3 years ago and added the car to my policy for the period immediately following his death until we disposed of the car.
Not an answer to your question, but something you need to consider.
My apologies if this has been covered elsewhere; been a bit busy of late.....
ND
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Hi ND
Thanks for that, just to put your mindat ease I have informed her insurance company who were only too happy to put both me and the wife on as named drivers to keep it all legal until we sold the car.
They have informed me that if we decide to keep it for ourselves then the insurances in my mother's name will need to be cancelled and a new policy will need to be taken out in one of ours.
The reason I knew to phone them up and organise this - the BR! I remember reading a thread on it a few months ago.
Just for completeness, I have also informed DVLA who assure me that I just need to enclose a note and send it to a different address when the paperwork is done. That means that the executor (ie me) can sign on her behalf and everything else is as normal.
But thanks anyway ND for your concern. It's good that people are looking out for one another.
On the subject of price, just in case anyone is interested, £1800 cash from the Nissan Dealer, and their projected private sale value is £2000 to £2150.
Hugo
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Good thread guys - my Dad died a fortnight ago and his G reg 83k Pug 309 is sitting in his garage and I was wondering what to do about it (along with a million other things!). You have alerted me to various pitfalls and things to do. Thanks.
Any one interested in the car?!!
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Phil
My condolances about your father.
I would suggest you contact his insurers like I did. At least the car will still be covered against theft or damage etc.
They will probably be happy to have you as a named driver until you sell the car, although my mother's insurers did ask for an additional premium to put me on.
Still, the insurance has been cancelled and new cover arranged for my wife and me as a second driver, and there is a sizable refund on its way back to the estate.
Inheritance tax is an interesting point here and this may be of benefit to other backroomers, My mother and father were quite unusual in that they had been separated for 20 years but were never legally divorced. Because a decree absolute for divorce was never raised, my father can then inherit anything over the IHT threashold from the estate without the estate having to pay IHT. The solicitor doing the probate has confirmed this with the capital tax office. This can be achieved with a deed of variation upon the will which the main beneficiaries have to agree to.
Hugo
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Re the £1800 cash from a Nissan dealer - I reckon they would put it up for £3,500 to £4,000 which was your estimate in your original thread.
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For probate purposes, you of course want as low a value as possible. (In case of Inheritance Tax.. been there, done that..paid it..:-(
madf
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I was a little stuck as to what to offer the other beneficiaries.
So we have all agreed that the £1800 is the value for probate and my purposes. If I were to sell it for more then we have agreed that anything over would then be split among all the beneficiaries.
I doubt that there is any chance of selling it now. SWMBO, who I might add was convinced she would never drive again as recently as two weeks ago, has just named, washed and driven her new motor with unparalleled enthusiasm! The big difference is that it is an automatic, which means she can pay more attention to the roads etc.
Although she has passed her test years ago, she was always a reluctant driver and recently has driven about once every 6 months or so under extreme duress.
Hugo
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