Blog Newsletter

Car Value Statement: for whom and why

10 March 2021
The "Car Value Statement" is an official document issued by FleetData, which can be used to formally demonstrate the value of a vehicle, based on the statistical analysis of real transactions in the Portuguese market.

The assessment is carried out based on the collection and analysis of vehicle purchase and sale deals that take place daily in the Portuguese market. The declaration identifies the vehicle, using its registration number, and adjusts the value to the actual mileage of the car, as well as to the existing extras and options.

Who can use this statement and why

1) Car dealers
A car dealer, who intends to import a used car, can request a declaration to demonstrate to the Tax Authority (AT), its value in Portugal, in order to calculate the fair value of ISV (Vehicle Tax) to be paid.

2) Accountants
When evaluating the assets of a company, it is necessary to have a reliable way to assess the value of its fleet. The values ​​consultable on vehicle sales sites may not reflect the reality of the national market (they may be inflated or on sale) and, also, they may refer to similar but not the same vehicles (same model, but different versions, with options) many different). Furthermore, vehicles for sale on websites are unlikely to have the same mileage as the fleet to be assessed, and the value shown may not be the appropriate value, or the value at which the sale will take place. FleetData provides a reliable and independent assessment, based on the Portuguese market, and with the values ​​for which vehicles can be effectively transacted.

3) Insolvency Administrators
When executing an insolvency, it is necessary to know the real value of all stocks of the company. The Valuation Statement will indicate the sales price of each vehicle to a professional buyer.

4) Individuals
An individual who is in a process of sharing, due to inheritance or divorce, may use the declaration to prove the value of the vehicle before the court or the other elements involved in the sharing. The Declaration may be delivered to the AT together with the list of assets, when carrying out the qualification of heirs.

5) Owners (individuals or companies)
If there is an automobile accident with total loss of the vehicle, it may be necessary to demonstrate to the insurer what the current value of the vehicle was. The owner will want to be compensated in order to be able to purchase a vehicle equal to the one he had (with the same mileage and the same options) and that is the same amount that will appear in the declaration (purchase price of a used vehicle with the same characteristics) and the same mileage). This statement can also be used for the owner (or policyholder) to adjust the premium amount of the own damage insurance to be paid, using the current value of your vehicle.