Do you own the vehicle?
If your vehicle is on hire purchase or a lease agreement then it isn't your property and it'll be dealt with differently in your bankruptcy.
If you jointly own your car with someone else then the official receiver will let the other person buy your share of the vehicle. If they can't afford to do this then the car will be sold. Your share will be paid into the bankruptcy and the other owner will be given the rest.
The official receiver normally assumes that the owner of a vehicle is its registered keeper. If this isn't the case you'd have to show them proof that someone else owns the vehicle.
Do you need the vehicle?
The official receiver will check whether or not your vehicle is essential. They go into a lot of detail when they do this check. They'll look at your local bus routes and timetables, the amount it'll cost you to use public transport compared to how much using your vehicle costs, and things like your tax, insurance, petrol and servicing costs.
If they decide that you can make the same journeys by public transport and that it's cheaper than using your vehicle then it's very likely that they'll sell it.
The official receiver might let you keep it if you fall into one of these categories:
- You can't do your job without your vehicle - for example if you're a taxi driver
- You live in a rural area with no, or very poor, public transport links
- You or someone in your family has a disability that means you can't get around without a vehicle
- You work long or irregular hours which means you can't use public transport
A word of warning: you won't be able to keep your vehicle just because it's easier to have it, or it saves you time.
Could you use a cheaper vehicle?
If the official receiver agrees that you need a vehicle they could still sell your car and tell you to buy a cheaper alternative.
Regardless of what your vehicle is worth, the official receiver could decide to sell it. They'll decide this on a case by case basis.