[ARCHIVED THREAD] - Replacement Vehicle...... (Page 1 of 2)
Posted: 5/17/2010 7:31:52 AM EDT
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Now if Mr B's car isn't economically repairable what do we suggest he gets as a replacement?
I suggest......... 
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Hmmm, I'm tempted, but may well need Bradders services in the future. 
Andy. http://s.bebo.com/app-image/8441889293/5411656627/PROFILE/i.quizzaz.com/img/q/u/08/10/16/mrsdoyle.jpg Well if you must twist my arm. 
Andy. |
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Quoted: Quoted: Quoted: They're very addictive you know Quoted: Well I've been made a decent offer by the insurance company, so it looks like another ///M's on the cards  Changed your mind then. Andy.  One of these then..... http://velocityresource.com/images/BMW_M5touring_07.jpg Too big and pricey |
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Lucky git
Some gimp in a Merc drove into us a few weeks back. I've managed to pick up a nearly-suitable equivalent car for just over what the insurance company offered us after a bit of back'n'forth. Then had to spend another £300-£400 on getting it up to a good drivable state (our last was very well maintained and it showed) followed by another £550-ish for suitable hands-free and cat 3 alarm + fitting. The radio system is still far below what we previously had but I can't justify that cost just yet. This is all coming out of my BAR15 fund for now and the other party's insurance company better pay up pretty bloody quick  Especially as I'm living in the hope that Bradders gives me some good news soon 
Oh yeah, and despite all the paperwork proudly proclaiming "TAXED UNTIL JUNE!", they forgot to mention that it was June 2009. Checking online shows the tax actually expired March 2010 when I would guess the previous owner must have got a refund on the remaining months. I was not very impressed  
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They're very addictive you know Quoted:
Well I've been made a decent offer by the insurance company, so it looks like another ///M's on the cards Changed your mind then.
Andy.
One of these then..... http://velocityresource.com/images/BMW_M5touring_07.jpg 
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So what happened to Bradders pimp mobile? Do keep up...... http://i40.tinypic.com/mc9emh.jpg So was he going too fast, or didn't stop fast enough? |
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Fear not sensation seekers for I have found another http://www.autotrader.co.uk/classified/advert/201017357604370/sort/priceasc/usedcars/price-to/17000/model/m3/make/bmw/page/33/postcode/rh136sj/quicksearch/true/radius/1500?logcode=p |
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Fear not sensation seekers for I have found another
http://www.autotrader.co.uk/classified/advert/201017357604370/sort/priceasc/usedcars/price-to/17000/model/m3/make/bmw/page/33/postcode/rh136sj/quicksearch/true/radius/1500?logcode=p SO how did you break the last one? |
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Quoted: I'll tell ya when you're older Quoted: Fear not sensation seekers for I have found another http://www.autotrader.co.uk/classified/advert/201017357604370/sort/priceasc/usedcars/price-to/17000/model/m3/make/bmw/page/33/postcode/rh136sj/quicksearch/true/radius/1500?logcode=p SO how did you break the last one? |
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I'll tell ya when you're older Quoted:
Fear not sensation seekers for I have found another
http://www.autotrader.co.uk/classified/advert/201017357604370/sort/priceasc/usedcars/price-to/17000/model/m3/make/bmw/page/33/postcode/rh136sj/quicksearch/true/radius/1500?logcode=p SO how did you break the last one?
Thought so… The 'small brain' was driving. 
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So what happened to Bradders pimp mobile? Do keep up...... http://i40.tinypic.com/mc9emh.jpg The damage does not look enough to write it off ! I assume it was written off if you are getting a replacement ? |
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So what happened to Bradders pimp mobile? Do keep up...... http://i40.tinypic.com/mc9emh.jpg The damage does not look enough to write it off ! I assume it was written off if you are getting a replacement ? Inner crumple zones have deformed = write off |
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Quoted: Ummm....no Get a Vauxhall Vectra 2.6 V6, like this one... http://img.photobucket.com/albums/v181/strange_tag/vec2.jpg But don't get one of these... http://img.photobucket.com/albums/v51/hkpete/DIGCAMPHOTOS008.jpg |
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Market value of car = £14,500 Estimated cost of repair = £16,500 Interestingly the salvage value is £4300 and I have been told that it can be fixed for well under £4000, but then as a Cat D it will only have a resale value of £8-10K They are telling you that because they can sell the car for a lot more than they are letting on. Think about it....... they are in the business of making money....... And they want you to accept market value......why? |
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Market value of car = £14,500 Estimated cost of repair = £16,500 Interestingly the salvage value is £4300 and I have been told that it can be fixed for well under £4000, but then as a Cat D it will only have a resale value of £8-10K They are telling you that because they can sell the car for a lot more than they are letting on. Think about it....... they are in the business of making money....... And they want you to accept market value......why? I think that's because there are specific requirements on what values are considered 'fair', and the starting point for valuations will be the 'market value' based on certain key indexes. |
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Market value of car = £14,500 Estimated cost of repair = £16,500 Interestingly the salvage value is £4300 and I have been told that it can be fixed for well under £4000, but then as a Cat D it will only have a resale value of £8-10K They are telling you that because they can sell the car for a lot more than they are letting on. Think about it....... they are in the business of making money....... And they want you to accept market value......why? Because that's the value the vehicle is insured for on a British motor policy (without getting into the technicalities of a classic/agreed value policy). Only the vehicle is insured, not the salesman's profit. |
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Market value of car = £14,500 Estimated cost of repair = £16,500 Interestingly the salvage value is £4300 and I have been told that it can be fixed for well under £4000, but then as a Cat D it will only have a resale value of £8-10K They are telling you that because they can sell the car for a lot more than they are letting on. Think about it....... they are in the business of making money....... And they want you to accept market value......why? Because that's the value the vehicle is insured for on a British motor policy (without getting into the technicalities of a classic/agreed value policy). Only the vehicle is insured, not the salesman's profit. Sorry, what I said was misleading. It was more the salvage value that made me a little dubious. They have given an arbitrary figure based on a %age. When that car goes to Auction it could fetch a lot more than that. Might be worth taking market value, and consider buying the car back and selling the car through auction as Cat D repairable. You'll need to look at resale figures though. |
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The salvage value is probably what their assessor and/or chosen salvage company has advised them. The insurers just get rid of write off's (beyond economical repair in this case), they don't want to piss about with breaking/auctioning.
You probably wouldn't get much more selling it as a write off than the salvage offer, plus it's the hassle of storing it, etc. You could fix it and sell it on without telling the buyer, it is a case of caveat emptor so up to the buyer to check the history. Off course on an M3, most people are likely to HPI it, and it would be a pretty underhanded thing to do anyway. |
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Quoted: Quoted: So what happened to Bradders pimp mobile? Do keep up...... http://i40.tinypic.com/mc9emh.jpg  the front fell off glad your ok |
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There seems to be somewhat of an understanding here. The insurers have made me an offer of £14,500 which is only slightly under what I paid for it, and I'm happy with their offer. I asked them just out of interest what the salvage was worth and they said 30%, which is £4350, and that's the price I can buy it back for. As it stands it's not worth much more than that if you break it. If you were to buy it back and fix it up, you could source the parts through Ebay and specialist dismantlers and with some labour for welding and spraying, fix it up for £3-4K, but it won't be a £14,500 car then, it'll be an £8-10k car coz it's a Cat C write off. For all the aggro involved it's just not worth it. I have been offered £5k for it already so that's £700 profit if I want it, which I am thinking about |
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Quoted: I have never done an m3 , but I have done a few cars and can tell you that if you can do the work yourself , like me you can and will make money on it , but There seems to be somewhat of an understanding here. The insurers have made me an offer of £14,500 which is only slightly under what I paid for it, and I'm happy with their offer. I asked them just out of interest what the salvage was worth and they said 30%, which is £4350, and that's the price I can buy it back for. As it stands it's not worth much more than that if you break it. If you were to buy it back and fix it up, you could source the parts through Ebay and specialist dismantlers and with some labour for welding and spraying, fix it up for £3-4K, but it won't be a £14,500 car then, it'll be an £8-10k car coz it's a Cat C write off. For all the aggro involved it's just not worth it. I have been offered £5k for it already so that's £700 profit if I want it, which I am thinking about ( BUT ) if you have to pay someone to do the work it will not work out in your favour , you could buy the front end for £500-£800 and fit and paint yourself for profit .( panel work+rads/lights , not engine ) if you are happy with the offer and you can get what you want with it , I say take it and be happy ( ish ) with it . john so just how did the front fall off  |
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There seems to be somewhat of an understanding here. The insurers have made me an offer of £14,500 which is only slightly under what I paid for it, and I'm happy with their offer. I asked them just out of interest what the salvage was worth and they said 30%, which is £4350, and that's the price I can buy it back for. As it stands it's not worth much more than that if you break it. If you were to buy it back and fix it up, you could source the parts through Ebay and specialist dismantlers and with some labour for welding and spraying, fix it up for £3-4K, but it won't be a £14,500 car then, it'll be an £8-10k car coz it's a Cat C write off. For all the aggro involved it's just not worth it. I have been offered £5k for it already so that's £700 profit if I want it, which I am thinking about Mark, A mate of mine whose wife deals with this sort of stuff for a big insurance company says you should offer 75% of what they ask for salvage. They have a formula and are happy to get 75% because its going to cost them 25% to get rid of it by other means. If you get it for £3500 or even £3300 and can move it on for £5000, that would be a extra £1500 - £1700 to spend on the new one !! Less my consultation fee of course.
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Quoted: I've just been told the same thing by the interested party, so no finders fee for you Quoted: There seems to be somewhat of an understanding here. The insurers have made me an offer of £14,500 which is only slightly under what I paid for it, and I'm happy with their offer. I asked them just out of interest what the salvage was worth and they said 30%, which is £4350, and that's the price I can buy it back for. As it stands it's not worth much more than that if you break it. If you were to buy it back and fix it up, you could source the parts through Ebay and specialist dismantlers and with some labour for welding and spraying, fix it up for £3-4K, but it won't be a £14,500 car then, it'll be an £8-10k car coz it's a Cat C write off. For all the aggro involved it's just not worth it. I have been offered £5k for it already so that's £700 profit if I want it, which I am thinking about Mark, A mate of mine whose wife deals with this sort of stuff for a big insurance company says you should offer 75% of what they ask for salvage. They have a formula and are happy to get 75% because its going to cost them 25% to get rid of it by other means. If you get it for £3500 or even £3300 and can move it on for £5000, that would be a extra £1500 - £1700 to spend on the new one !! Less my consultation fee of course. |
