According to the Blue Book, my car is worth about $8300, and the exemption in my state is $7500 (Louisiana.) But I have about $2200 in body damage (caused by others that was paid from their insurance companies to me) that I never got around to fixing. Would my car thus be valued at $6100, and hence under the exemption? The car was just recently paid off.
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In MO the Trustee has our cars appraised. The guy met hubby and looked them both over and gave a FAST AUCTION price... blue book had nothing to do with it. I am not sure how you do it there though. But I would ask my ATTY... they may let you get them appraised. Both our cars had damages, chipped glass, rearend damage and a really bad bodywork job on the little one that still creaks and groans now from its massive damages. We have our 341 on the 27th of this month so I am not sure how all of this hangs together.. but I do know the blue book meant nothing here. -
Well, if it is auction value, that sounds like wholesale or trade-in value, which should put it low enough to go under the exemption on its own.
Looks to be about $4500, which should keep me under the limit.Comment
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