How to value vehicle?

[octoblonde]

I'm confused as to what reference to use to value my vehicle. There is a big difference between KBB and Edmunds. Black Book couldn't give me a trade-in value. What price is the trustee looking for? Trade in? Retail? Private Party? The differences between these values could mean the difference between being able to keep the vehicle or having to buy it back from the trustee.

Any suggestions would be appreciated?

Thanks!

[keepsmiling]

Do you have an attorney? If so, that's a good question to ask. Apparently different trustees go by different sources, and if you feel an argument coming on, you may have to get an appraisal.

[BAR]

my attorney in Mi uses NADA and he uses the average trade in value.

[AidanK]

I just filed myself and my attorney used the NADA rough trade in value for my vehicle.

[discouraged]

We have to use KBB here and 'good condition'. I think it depends on your state which one they use. An attorney would know for sure.

[octoblonde]

Thanks, everyone. I've only met with one attorney so far, and he was filling in for the "main" attorney. I had a printout from Edmunds.com and "rough" shape and notes documented as to why I consider it in rough shape. He mentioned KBB, but said, "I guess one is just as good as the other." He didn't say whether it needed to be retail value or trade in, etc. He didn't seem really solid in his answers. KBB way overvalues the vehicle in my case.

[daylate]

Another option is to take it to CarMax and have them give you an offer to buy-its a definite, written (I believe) offer so to me that establishes FMV better than any book. I actually sold a car to them about 8 months prior to filing. I've read where some have problems with it but as I said, if the intent is to value items at quick sale prices, then CarMax seems to fit the bill.

[discouraged]

That is a good suggestion. NADA had my car valued at a whole lot less than KBB, but couldn't use that one. Hard to believe that a car I paid 1250 for 5 years ago, KKB valued at 1205 today. Yeah, like someone is really going to give me 1200 for it!

Mine is so old is was not a problem though and no trustee in their right mind would have wanted it. If I'd taken it to Carmax, they probably would have said 800, which is what NADA valued it at.

[octoblonde]

I looked up Carmax locations. I'm in Upstate NY. The closest Carmax stores are in Connecticut and Maryland. I think the closest one is about 190 miles away. I like road trips, but I have a lot of musculoskeletal problems and a 4 year old little boy, and I just don't think I could drive that far. I have nobody else who could take turns driving. But thanks to everyone who answered.