Splitting two cars with different values

[SanDiegan45]

What is the name of your state (only U.S. law)? CA

I am in the money grab portion of divorce, a.k.a. settlement conferences. Among the assets to be divided, there are two cars. Both cars are mainly used to commute to work more than anything else.

For the simplicity consider these figurative values:

Car-1 : Keeper will be my spouse
Condition : Near excellent (good condition used for price calculation)
Private party sale value : 8000 ; wholesale value 7000

Car-2 : I will be the keeper
Condition : Poor (high mileage and a lot of dings and dents)
Private party sale value : 4000 ; wholesale value 3400

These values are from Edmunds.com

Do I have any chance to claim half of the difference in either private party or wholesale values ? If necessary I am willing to go to a 3rd party appraiser, likes of CarMax and have those people determine the values for each car on the spot on the same day.

Thank you.

 

[xylene]

Liquidate both cars and divide the proceeds by 2.

 

[LdiJ]

What is the name of your state (only U.S. law)? CA

I am in the money grab portion of divorce, a.k.a. settlement conferences. Among the assets to be divided, there are two cars. Both cars are mainly used to commute to work more than anything else.

For the simplicity consider these figurative values:

Car-1 : Keeper will be my spouse
Condition : Near excellent (good condition used for price calculation)
Private party sale value : 8000 ; wholesale value 7000

Car-2 : I will be the keeper
Condition : Poor (high mileage and a lot of dings and dents)
Private party sale value : 4000 ; wholesale value 3400

These values are from Edmunds.com

Do I have any chance to claim half of the difference in either private party or wholesale values ? If necessary I am willing to go to a 3rd party appraiser, likes of CarMax and have those people determine the values for each car on the spot on the same day.

Thank you.

Are both cars completely paid off?

If so, then the value of each goes into the pot for the person keeping the car, and the other marital assets that are to be divided are adjusted to reflect that. Also, wholesale value is probably the value that would be used

In other words, the person keeping the higher value car would get a greater amount of the other marital assets, to offset the difference in the car values.

 

[OHRoadwarrior]

You mean you both cannot agree the value difference is about $3500 to $4000? If not this will be a tough divorce.

 

[SanDiegan45]

You mean you both cannot agree the value difference is about $3500 to $4000? If not this will be a tough divorce.

Oh, it is tough already with the gold-digger pining for everything I have. I just received the settlement proposal on Friday and crafting my response for my lawyer. So, it came down to dividing accounts with 400-500 dollars in them. So, I am not leaving anything on the table. My spouse has an ambulance chaser as an attorney.

On another related question about what my young, hot-shot attorney told me, while we were waiting for the other side in the courthouse, regarding car valuations. He said, regardless of the condition of the cars, the value is takem into consideration as they are both under fair condition. Is this correct ? I had horrendous Southern California commutes and my 2007 year model car already has 170K miles on it, letting the fended bender accidents alone to the side, which never got repaired while the ex pocketing the insurance claims. I don't believe the "POOR" condition applies to my car. It just runs and carries me from point A to point B. If I were a buyer and was presented with my car, I wouldn't even pay $3500 wholesale value as a private buyer. It is that bad. On the other hand, my spouse has 2004 year model car which has less than 100K Miles on it and it has been meticulously taken care of and almost never driven long distances. So, my educated guess is, even if the attorneys from both sides squabble about car valuation for half an hour, it is still worth going after a ~$2000 valuation in my favor. Plus, I am sick of the unreasonable proposal from the other side. Take it as spite if you will. My amicable settlement of dividing everything in half, without any further attorney involvement and keeping the costs down, was shut down few months ago. So, I am ready to go in, with all my guns blazing. I know it is not going to be a pretty sight to see the attorney bill but, at this point in my life, I'd rather give everything to the attorney than to my spouse, after how I have been treated.
I am upset if you can't tell

 

[SanDiegan45]

And yes, both cars has been purchased and paid off totally, while married and long before the divorce filing.

 

[mistoffolees]

Oh, it is tough already with the gold-digger pining for everything I have. I just received the settlement proposal on Friday and crafting my response for my lawyer. So, it came down to dividing accounts with 400-500 dollars in them. So, I am not leaving anything on the table. My spouse has an ambulance chaser as an attorney.

On another related question about what my young, hot-shot attorney told me, while we were waiting for the other side in the courthouse, regarding car valuations. He said, regardless of the condition of the cars, the value is takem into consideration as they are both under fair condition. Is this correct ? I had horrendous Southern California commutes and my 2007 year model car already has 170K miles on it, letting the fended bender accidents alone to the side, which never got repaired while the ex pocketing the insurance claims. I don't believe the "POOR" condition applies to my car. It just runs and carries me from point A to point B. If I were a buyer and was presented with my car, I wouldn't even pay $3500 wholesale value as a private buyer. It is that bad. On the other hand, my spouse has 2004 year model car which has less than 100K Miles on it and it has been meticulously taken care of and almost never driven long distances. So, my educated guess is, even if the attorneys from both sides squabble about car valuation for half an hour, it is still worth going after a ~$2000 valuation in my favor. Plus, I am sick of the unreasonable proposal from the other side. Take it as spite if you will. My amicable settlement of dividing everything in half, without any further attorney involvement and keeping the costs down, was shut down few months ago. So, I am ready to go in, with all my guns blazing. I know it is not going to be a pretty sight to see the attorney bill but, at this point in my life, I'd rather give everything to the attorney than to my spouse, after how I have been treated.
I am upset if you can't tell

Do you have a CarMax in your town? They'll give you a free appraisal on the cars-and it's a price that they would be willing to write a check for. That means that both cars would be evaluated by the same third party and there shouldn't be any bias. I would offer to use CarMax to do the appraisals.

However, I'd caution you - don't get too emotionally wrapped up or you'll spend several times as much on lawyers as you save. Sometimes it's better to just let things go.

 

[LdiJ]

Oh, it is tough already with the gold-digger pining for everything I have. I just received the settlement proposal on Friday and crafting my response for my lawyer. So, it came down to dividing accounts with 400-500 dollars in them. So, I am not leaving anything on the table. My spouse has an ambulance chaser as an attorney.

On another related question about what my young, hot-shot attorney told me, while we were waiting for the other side in the courthouse, regarding car valuations. He said, regardless of the condition of the cars, the value is takem into consideration as they are both under fair condition. Is this correct ? I had horrendous Southern California commutes and my 2007 year model car already has 170K miles on it, letting the fended bender accidents alone to the side, which never got repaired while the ex pocketing the insurance claims. I don't believe the "POOR" condition applies to my car. It just runs and carries me from point A to point B. If I were a buyer and was presented with my car, I wouldn't even pay $3500 wholesale value as a private buyer. It is that bad. On the other hand, my spouse has 2004 year model car which has less than 100K Miles on it and it has been meticulously taken care of and almost never driven long distances. So, my educated guess is, even if the attorneys from both sides squabble about car valuation for half an hour, it is still worth going after a ~$2000 valuation in my favor. Plus, I am sick of the unreasonable proposal from the other side. Take it as spite if you will. My amicable settlement of dividing everything in half, without any further attorney involvement and keeping the costs down, was shut down few months ago. So, I am ready to go in, with all my guns blazing. I know it is not going to be a pretty sight to see the attorney bill but, at this point in my life, I'd rather give everything to the attorney than to my spouse, after how I have been treated.
I am upset if you can't tell

I agree with Misto's advice. However, I will tell you that long distance miles do less damage to a car that shorter distance/city miles.

I also think that you may be cutting off your nose to spite your face.

 

[SanDiegan45]

I agree with Misto's advice. However, I will tell you that long distance miles do less damage to a car that shorter distance/city miles.

Yes I know about car mechanics a bit but when you try to sell a car with 170K Miles on it and only driven in Los Angeles area, people make a sour face. And the value goes down regardless if it is long distance or inner city miles

I also think that you may be cutting off your nose to spite your face.

I am aware of this downside, but what I have gone through during the last year in the court system as well as what I have been thru in the last 4 years of our marriage, as I have previously said, I would give all my money to the attorney rather than giving my stbx another penny more than what I can get away with. I know I am emotional but it is for a very good reason (of mine of course)

Thanks for the advice

 

[AlmostThere]

I am aware of this downside, but what I have gone through during the last year in the court system as well as what I have been thru in the last 4 years of our marriage, as I have previously said, I would give all my money to the attorney rather than giving my stbx another penny more than what I can get away with. I know I am emotional but it is for a very good reason (of mine of course)

Thanks for the advice

Really, with that attitude you are likely to pay your lawyer lots of money and give your ex their entitled share. Many of us have been though bad marriages. If you are so angry that you are willing to spend money to keep your ex from having their legally rightful share, then perhaps you should look into paying money for good counseling to help you find ways to handle those emotions in a less destructive manner.

 

[tuffbrk]

OP offered an equal 50/50 split down the middle. STBX refused. I did not get the impression OP is attempting to not be fair but rather that OP is examining each and every asset and will not allow so much as one penny more go to the STBX.

Friend of mine's ex actually counted and split the Q-tips as part of their personal property settlement. Only person who wasted their time was him...

To each their own. However, OP may be wiser figuring out how to minimize time spent with attorneys so that there's something left over for him.

 

[Bali Hai]

Really, with that attitude you are likely to pay your lawyer lots of money and give your ex their entitled share. Many of us have been though bad marriages. If you are so angry that you are willing to spend money to keep your ex from having their legally rightful share, then perhaps you should look into paying money for good counseling to help you find ways to handle those emotions in a less destructive manner.

OP has stated what he intends to do. He has every right to be as much or more vindictive as his STBX.

If you want to play head shrink, go to the Dear Abby sight.

 

[mistoffolees]

Yes I know about car mechanics a bit but when you try to sell a car with 170K Miles on it and only driven in Los Angeles area, people make a sour face. And the value goes down regardless if it is long distance or inner city miles

That's why I suggested getting an independent, third party appraisal.

 

[AlmostThere]

OP offered an equal 50/50 split down the middle. STBX refused. I did not get the impression OP is attempting to not be fair but rather that OP is examining each and every asset and will not allow so much as one penny more go to the STBX.
.

I am not seeing that. OP is upset that the STBX wants every account to be included in the assets. Even the smaller ones. Nowhere does OP say 50/50 beyond the cars. OP does state a desire to screw over the STBX as much as possible.

Oh, it is tough already with the gold-digger pining for everything I have. I just received the settlement proposal on Friday and crafting my response for my lawyer. So, it came down to dividing accounts with 400-500 dollars in them. So, I am not leaving anything on the table. My spouse has an ambulance chaser as an attorney.

All bank accounts should be included. OP wants to argue generally accepted car valuation methods, while keeping other assets to the side.

 

[tuffbrk]

Almost There writes - I am not seeing that. OP is upset that the STBX wants every account to be included in the assets. Even the smaller ones. Nowhere does OP say 50/50 beyond the cars. OP does state a desire to screw over the STBX as much as possible.

OP feels that way because....

My amicable settlement of dividing everything in half, without any further attorney involvement and keeping the costs down, was shut down few months ago. So, I am ready to go in, with all my guns blazing.