My friend left me a 2014 stingray before he passed. The car has been held up in probate since 2014. I would like to know what a 2014 stingray was valued at in June 2014 and what it's value that today. The vehicle has 423 miles on it. Thank you

 

A 2014 is a C7, might want this post moved.

 

Moved to the C7 General section.

 

If you're doing it for legal purposes, you'll probably need to hire an expert. I doubt the opinion of random clowns on the internet will be admissible in court, or carry much weight for that matter.

 

^^ true story there.

 

Also, more details are needed about the options on the car. Is it a 1LT, 2LT, 3LT? Does it have Nav? Etc. If you have the original window sticker that would be helpful. Without any of this info, my non-expert opinion is to drop the value $8,000 per year off of original MSRP.

 

Ballpark figures:

In 2014 it was worth 55-65k. It's worth around 45k now. (depending on options)

 

Fixed it for ya...

 

Don't you just love our swift legal system? My father's probate lasted so long, that his attorney he setup as a trustee died of old age before his estate was settled. Then the lawyer's son who was also an attorney took over the estate and got to charge another second set of fees that his father already collected. The State (Pennsylvania) and the father and son attorney collected more than my father's heirs did.

 

Hey, who you calling random?

 

Good advise here. He's not just the village's idiot, he's ours too.

 

Broken clock - I'm a lawyer :p On every other topic, I'm still the village idiot.

 

I assume the vehicle must have been paid for in full, unless he left you with his debt. I would think KBB would be sufficient to determine value.

 

Whatever CarMax will pay is the wholesale value. Retail will be higher. Recent auction values are also useful. Good luck but the probate court will probably establish it's value.

 

Actually, you can do things to speed things up when you die.

My certificates of deposits have a "pay on death" to my sister, so they stay out of probate. Every time my checking account gets more than a three or four thousand ahead of what I need for my normal monthly expenses, I get another CD with a "POD" to my sister.

My four car titles(two are expensive vintage Corvettes plus a newer Corvette Z06, plus my Mercedes daily driver) have a "transfer of death" on the titles to my sister so they stay out of probate.

My home has "beneficiary of deed" to my sister, so it stays out of probate.

My sister is the beneficiary on my life insurance policy, so it stays out of probate.

Only thing remaining is my checking account and personal items in my home that will have to go to probate.

The vast majority(and the most expensive items) will be transferred on my death to my sister so they will not go through probate.

Unless I die suddenly, very little goes to probate, and and if I get very ill before I die and the outcome is oblivious, I'll give my personal items in my home to my sister, and her kids, so that no gift taxes are due on the personal items. Anything I give to her and her kids/grandkids before my death doesn't go through probate.


Lawyers won't get any money from my estate, as there will be very little in it, if any.......

 

The value really depends on what options the car had.
I bought my base 2014 2LT coupe for $55K, but others on the showroom with Z51 package and other options were $20,000 to $25,000 more.

Since you inherited the car at 2014 value, I would think it would be very close to the list price since not many dealerships were even discounting them back then. The most discount I saw was around $3000 even for the big dealers like Kerbeck.


The ones that were $80,000 will probably have depreciated more, but still have a higher net value today.

I have been executor of a Will where a car was inherited and the exact value was not critical since the person inheriting the car was not paying taxes on it. You just need to get the value close as you can.

 

That is not entirely accurate. I got an 8.5% discount ($5000) from a forum dealer in Feb. 2014 on a custom ordered 2014.
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Get all the codes off the glovebox door (that's where the are, correct?) and post them here. We can give a much better idea of the car's original value if we know what options it has on it.

 

Why does it matter?

 

You'all must have some really f'ed up state probate laws. I'm just about finished with my father in laws estate who died about 11 months ago. In the US there is no federal estate tax on the first $5 million of inheritance. He had nine different investment accounts. I liquidated the accounts within the first 90 days. They took the value of the accounts on the day he died (date of death valuation)and then when I liquidated them I only paid federal tax and state income tax on the amount the accounts increased in value during the short 90 day period. I sold his house for cash as well and there was no tax liability. Just divided the money among the heirs.