- Vehicles with loans older than three years may be valued down to
- “Retail value (dealer price) in current condition.”
- This will likely require an appraisal.
- A hearing may be required if the vehicle creditor objects to your valuation.
Case Law on Vehicle Valuations
Debtor failed to present evidence of retail value to overcome creditor’s objection.
Court weighs evidence of retail value in current condition presented by both Debtor’s and Creditor’s expert witnesses.
Valuing Mobile Homes
- A lien on a mobile home may be valued down to the actual value of the mobile home if it is not affixed so as to make if real property.
- Some mobile homes may be valued. An NADA appraisal is required.
Case Law on Mobile Homes
A mobile home lien may be valued down if it is not real-property.
There are four factors to determine whether a mobile home is real property.
Intent is a primary factor.