Valuing motor vehicles
It is common for people to have one or more motor vehicles which need to be considered in a property settlement. Motor vehicles can include cars, motorbikes, boats and caravans.
This information will help you understand:
- how to find out the value of a motor vehicle, and
- what to do if you and your ex-partner cannot agree on the value of a motor vehicle.
Video: How to value motor vehicles
|Download the fact sheet on valuing motor vehicles|
How can I find out the value of a motor vehicle?
You can find out how much money your motor vehicle is worth using a valuation website, such as Redbook.com.au or Automative Financial Services. These websites will give you an estimated value range for your car, motorbike or boat. You will need to provide the make, model and year of manufacture.
For caravans, you can look at similar models on sale online and then try to reach an agreement with your ex-partner about the value.
What if my ex-partner and I cannot agree on the value of a motor vehicle?
If you and your ex-partner cannot agree on the value of your car, motorbike or boat, you can pay for a Redbook.com.au valuation report.
The valuation report can give you a more accurate value because you can add more detail about your motor vehicle including the kilometers travelled, the motor vehicle’s condition, and any modifications made.
If you cannot agree with your ex-partner about the value of your caravan there are websites such as Astute RV and Caravan Valuations that provide valuation reports for a fee.
It is common for people to share the cost of online valuation reports.
A sworn valuation is provided by an expert who will give their opinion in writing and “swears” that the valuation is independent and authentic. Experts are usually registered with a national or state board. There are specific family law rules that experts need to follow.
You may need to arrange for an expert to provide a sworn valuation if:
- you have tried using an online valuation website but cannot agree with your ex-partner about the value of the vehicle, or
- you have a motor vehicle that cannot be valued using an online valuation website (for example, a vintage or classic car).
It is common for people to share the costs of a sworn valuation. The fee for a sworn valuation will change from expert to expert so it is a good idea to ask a few different experts to find out their costs.
Review date: 28 September 2022