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Vehicle worth more than 3, 000.00 lien free, can I pay the difference to keep my vehicle?

I have a vehicle that I have 4 Black Book Prices on that are basically the same amount. The vehicle is lien free now, but is over the 3,000.00 limit by $1500.00 BBP. I am disabled and need my vehicle to carry my wheelchair, walker, canes, etc. in and I am not willing to give it up, it is the only thing I have.

I can come up with the difference by a businessman taking out a registered lien on the vehicle for $1500.00, OR, I can somehow come up with the difference on my own for you to distribute to the creditors…. either way you get the difference. What is the best way to go about this?

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One Response to “Vehicle worth more than 3, 000.00 lien free, can I pay the difference to keep my vehicle?”

A licensed trustee said...

Use the links on this page to find a trustee in your area and ask them the local Court’s policies on vehicle exemptions. Here in Ontario, you would only be responsible to pay the amount in excess of the the limit, but you should check with a trustee where you live and see what the rules there are.