Car values?

[momof3b1g]

If the KBB value on a vehicle is $2500 and it is not running and needs $2000 worth of work. Should we list the value as $500? We have a 3rd vehicle which isn't running i did the BB and it is about $2500 give or take tarde in value but the transmisson needs to be replaced(its undriveable) dh said a good $2000 to fix. He wants to keep it as its newer then the one he is driving. We are thinking we might enough enough exemptions to cover it.

[JRScott]

I'd get some repair quotes in writing from a mechanic.

I know you can with homes and I believe with cars as well use repair quotes to lower the equity in order to keep them.

[justbroke]

I used the KBB value less costs for repairs and new tires. I was not questioned on the valuation method at all. So, yes... you can include repairs, but be able to back it up with "quotes".