Car Value

[zscfan]

I'm filling out the papers for my attorney to get started on my Chapter 7 petition and it asks for the value of my car. On Kelly Blue Book's web site, do I choose the trade in value or the private party sale value or the dealer price for a similar car???

Thanks.

[EricaCallaha]

Private party in Fair-Good condition.

Good luck.

[StartingOver08]

Every district uses a different car value!

Actually, get the answer for your district from your attorney. Each district chooses which value to use. For example in our district it is NADA retail (which is nuts).

But if you find the valuation that your district uses to be too high, you can use a 'carmax' value to get it lower so it fits in your exemptions. Go to carmax and get the written estimate and use that value. The Trustee can not argue with a third party valuation. Search this site for the carmax valuations. It is a fairly recent event as a direct result of the auto market now.