How much do you think its worth

[kcasey]

we are dealing with an estate because my wifes father passed away. Maryland law states that if it is not registered before he is deceased in the MVA system, even with the bill of sale for $200 that he sold to a shop is dated prior to death, it gets attached to the estate. KBB does not have an option worse than fair. It is a 2005 Explorer Sport Trac. The transmission needs to be rebuilt, the motor is blown @ 145,000 miles, exterior is scratched up and dented, front tow hitch bent from an accident, interior front leather seats are cut and covered with duct tape. Basically it is a POS. however, I doubt they will only let us claim 200.. Anyone have any ideas on this? Any and all information will be helpful. if the damn shop would just put dealer or even repair plates on it, we can sign the title and be done, and they said that they are going to wait, which is going to end up screwing us in the end..

thank you

 

[koda2000]

With a blown engine and needing to have the trans rebuilt, it ain't worth much. I'm assuming the timing chains let go, which makes the engine pretty much junk. Used engines are not reliable either, so to pull the engine, purchase a reman and rebuilt the trans you're looking at more than it's worth IMO.

Maybe $500 for a parts vehicle or as a mechanic's special tops. Too bad, if it didn't need any work you might be looking at $6000-$7000, maybe more it the exterior and interior are in good condition.

 

[Josh P]

The minimum excise tax is $38.40, based on the minimum vehicle value of $640.
$0-640 is my estimate.

 

[429CJ-3X2]

koda's right, $500 tops, but you really need to run this past the attorney handling the estate. State laws vary, but estates are handled much differently than regular business. There are a lot of things that can be deducted and dealt with in an estate that we can't do outside an estate, at least in Iowa, but that goes for the federal handling of an estate too. I was executor for my dad's estate just a few years ago. We had some vehicles, farm equipment and other things to sell. We tried to be fair, but we pretty much named the value and nobody questioned us on it. And that included things my brothers and I bought from the estate. I don't know how this can end up screwing you unless the shop is charging storage fees which will reduce the estate. Sounds like you just want to be rid of the truck ASAP, but otherwise it's probably not a big deal in the estate. And the shop is probably right in waiting this out.