Bought an old BMW M3, filled with regret...

[TW]Fox;28926113 said:
It's a pile of crap and I'd be on at them to change it for the Insignia as soon as they get something else in the booked class. It's really annoying when rental firms do this - 'oh its a higher class' is a matter of a opinion, a Luton van might be in a 'higher class' as well and you wouldn't want one of those.

I guess less of a concern for an M3 owner but that thing will absolutely suck fuel compared to the Insignia.
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I did actually figure this the moment I drove on the motorway earlier today. I shall be on the phone tomorrow to get it changed for sure, it is gutless. It is completely LOL though,. but gutless and not suitable for a comfortable drive up and down the motorway :p

ADT said:
Looking good so far, hopefully you can buy it on the cheap and get it done by your guy and come out better!

What's the mileage on it out of curiosity?
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The mileage is 77k. I do intend on getting my guy to repair it. The marker isn't a huge issue, but sure I agree to the general buying public they will see it as a huge turn off, but to any enthusiast who might be after a longer term ownership from a well looked after example once I'm done with it, maybe it won't matter too. Either way these cars are getting harder to find in good state of affairs as the years go on. I intend on keeping my car in the same condition it is in year round.

At the very least, the pocketed money from the settlement would go toward any losses from future resale due to the Cat D marker. But if the insurer gives a decent cash in lieu figure that isn't far off from the offer post salvaged Cat D, then maybe that's a worthwhile option instead as it means the car isn't marked at all then.

More waiting until tomorrow to find this out.

Interestingly I have legal cover and received a letter from my insurer's legal arm, Elephant Law, which they briefly told me about them on the phone and said a letter would be in the post. It explains how they will reclaim any losses, whether it's uninsured/expenses/injuries or whatever. I take it this means if Admiral don't play ball with a decent settlement figure, then I can pass it to Elephant Law to fight on my behalf?
 
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Reminds of the time when I got to the desk at Vancouver Airport for a one-way to Seattle and Avis said 'We've upgraded you from a fullsize sedan to an SUV!'

It was a Chevrolet Captiva, an enormous pile of crap soft roader piece of junk thats so unlike an SUV they even sold it here in the UK. What they really meant was 'We've got this crap Captiva on US plates we need to send back so we are going to stiff you with it'

Regret not kicking off :p
 
If Admiral won't give a settlement figure you agree to, this is where the Financial Ombudsmen Service comes in. You can ask them to review the case, and the insurer must follow their findings. You're under no obligation to however.
 
I guess Elephant Law doesn't apply then :o

The Ombudsmen, that's what I've been trying to think of all day!

Alright folks cheers. I think I have enough info that I need to sit back and see what offers they come back with.
 
mrk said:
The mileage is 77k. I do intend on getting my guy to repair it. The marker isn't a huge issue, but sure I agree to the general buying public they will see it as a huge turn off, but to any enthusiast who might be after a longer term ownership from a well looked after example once I'm done with it, maybe it won't matter too. Either way these cars are getting harder to find in good state of affairs as the years go on. I intend on keeping my car in the same condition it is in year round.

At the very least, the pocketed money from the settlement would go toward any losses from future resale due to the Cat D marker. But if the insurer gives a decent cash in lieu figure that isn't far off from the offer post salvaged Cat D, then maybe that's a worthwhile option instead as it means the car isn't marked at all then.
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In my opinion you need to be more realistic about this. Anyone looking for a decent M3 will not even phone or view the car. Any enthusiast (like yourself) will instantly dismiss it due to the write off and keep looking (how many CAT C/D M3's did you view before buying a non CAT one?).

A few exceptions apart, any car that has a CAT C/D marker against it completely limits your potential buyers down to the "I want a really cheap M3" market.
 
Housey said:
I don't see the point buying it back, frankly. You are going to spend a whole load more money on repairing a car that will have less value in it after completion. There will be cars just as good out there, you just need to take time finding them but they are out there and my approach would be to start again and write off what you have spent. To retain any value your car needs to be straight with a solid history and good maintenance record. Add a write off to that and the value becomes different and the competition significant. Though you say today you will want to keep it for ever, you won't. I had 2, they are great cars, but lots of better more interesting stuff out there to tempt you away.

Get the money, regroup, buy again.
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this.

what's the case where you were the buy it back the situation was to repeat itself? *touch wood*

surely you'd be even more worse off? the same degree of risk is posed whether it's been crash repaired or not, yet substantially different outcomes if it came to it.
 
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Gaygle said:
What is payment in lieu all about? I've never heard of it?
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The gist of it can be seen explained here: http://www.pistonheads.com/gassing/topic.asp?t=734000

I'm leaning on this option, I have not mentioned it to Admiral yet, as I want to see what settlement figures they come up with today first.

Peerzy said:
In my opinion you need to be more realistic about this. Anyone looking for a decent M3 will not even phone or view the car. Any enthusiast (like yourself) will instantly dismiss it due to the write off and keep looking (how many CAT C/D M3's did you view before buying a non CAT one?).

A few exceptions apart, any car that has a CAT C/D marker against it completely limits your potential buyers down to the "I want a really cheap M3" market.
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This is true in most regards, but as mentioned, I have no immediate intentions of selling the car within a reasonable time anyway - I don't change cars often, I had the 318Ci for over 5 years, for example! And have wanted an S54 powered car for even longer :p

By that time at least an E46 M3 will be even harder to find in good condition (Cat D or otherwise). If I do end up using the above option, then it means I get my car back, and it won't be categorised.

I can then have an agreed value put on it, if it happens again, then I'm in a much better position at not losing out to the system/
 
I think you're kidding yourself if you think an enthusiast won't see a cat D as worth less, despite how you try to present it. Even after quite some time, it's going to be worth less to any potential buyer.
 
mrk you've even discounted cars posted in here due to being cat D. Take the money and buy another.

You sound like someone who won't give up on his gf after she's done the dirty. Just let it go!
 
Yeah because my car is the same as that right? :p

I've already stated all the reasons why I'd rather not lose the car. The ones posted are good, but will still need similar money spent on them to get them to my car's standard. So i'd be spending a couple of k more of my own money - Which is a bit out of order since none of this was my fault in the first place.

If I get a good cash in lieu figure, then I'll take it. Means my car isn't marked Cat D, and happy days as I still will pocket a lot of ££££ post repairs. If not, then hey, the car remains in my ownership long term anyway as intended.
 
S2KIP said:
mrk you've even discounted cars posted in here due to being cat D
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This is true, you've dismissed a few that people have posted when you've seen that they are Cat D, so if you're doing it you have to assume that everyone else will too.

Your local McDonald's car park dwelling idiot won't care, but he also wouldn't pay the sort of money that you'd be asking for
 
It would be hard to let go of a car which you've got a lot of love for. I can see where mrk is coming from, if he bought another it could end up being a lemon. Costing him more in the long run.

Repair it enjoy it and sell it on once you want a change. You may not get as much back as you hoped but again the change pocketed might allow for that.
 
My point is for Mrk it's probably going to be best to buy it back and fix it. However with a Cat C / D car I'd almost assume a value of £0.00 instantly, anything you get for it should be seen as a bonus.

There is no way you would look at a Cat C / D car now, or even if it was another 5 years old. There are tons of E46 M3's and in 5 years time despite the condition yours will automatically be categorized with the crap cheap ones bought by people who want an "M3 innit" as it has a marker.

If you buy the car back and fix it, you should assume that it's sell on value is nominal.
 
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