Bought an old BMW M3, filled with regret...
- Thread starter mrk
- Start date
Actually they do this all the time.
They come with an overinflated figure, wait to see where the insurance companys line is to write it off. And then they work on getting below that if possible. This way they maximise the monies.
If they went in at £5k and the insurance companys line was £7k, then they just lost out on £1.5k. Whereas they can go in at £9k, go ohh ahh and come down to just under £7k.
Everyones a scumbag in this industry.
That actually makes a lot of sense, even though it's pretty obvious when you think about it
If they can get the work below the write off line, will you go through that route or would you still rather the cash and do it yourself through your mate and pocket some extra?
If they can get the work below the write off line, will you go through that route or would you still rather the cash and do it yourself through your mate and pocket some extra?
But if the link posted earlier citing the financial ombudsman letter this morning is anything to go by, they simply should pay the repair costs inc VAT anyway, so if it's say £7000 now, they should pay CIL £7000.
I suppose this means the person receiving the cash would get less, but still be able to pocket change from getting the repairs done cheaper than than 7000 elsewhere.
If they approve the new estimate, then fine, I'll stick with it even if it means don't pocket any cash for all my troubles. At least the car has main dealer repair history then I suppose.
They welded an entire new rear end on, from the rear benches backward! Is that normal?
They welded an entire new rear end on, from the rear benches backward! Is that normal?
In Russia we have no insurance, we just weld your accident onto your car and give you bonus points for each accident.
Probably hasn't put in the batteries, seats, carpets etc.. but yes it definitely sits higher at the end of the vid
More fun and games.
Just had a call from Admiral, their engineers doing the figures seem to have 2 VIN for my reg number. Obviously one of them is the old E46 318Ci which they seem to have used in some of their estimating processes – Quite why or how I don’t know. Anyway, they’ve asked permission to call BMW to get the M3’s VIN and then re-assess the valuation and come up with a new figure.
They said they have no problem with the examples I’ve sent establishing that my car is indeed worth every bit as much as they are, so just need to correct VIN to re-run the numbers and see what difference that makes. As it stands, they say 7K is too high for a single cash in lieu of repairs payment, but the possibility of a contract repair through BMW is there providing the VIN correction and re-evaluation checks out.
If need be, they will also send out an independent valuator to BMW to go over the car to report on the condition, damage, parts required vs the cost BMW have stated and other things.
I thought there wasn’t really a “limit” on cash in lieu anyway?
Due a call back before the end of the day now with an update on what’s going on.
Just had a call from Admiral, their engineers doing the figures seem to have 2 VIN for my reg number. Obviously one of them is the old E46 318Ci which they seem to have used in some of their estimating processes – Quite why or how I don’t know. Anyway, they’ve asked permission to call BMW to get the M3’s VIN and then re-assess the valuation and come up with a new figure.
They said they have no problem with the examples I’ve sent establishing that my car is indeed worth every bit as much as they are, so just need to correct VIN to re-run the numbers and see what difference that makes. As it stands, they say 7K is too high for a single cash in lieu of repairs payment, but the possibility of a contract repair through BMW is there providing the VIN correction and re-evaluation checks out.
If need be, they will also send out an independent valuator to BMW to go over the car to report on the condition, damage, parts required vs the cost BMW have stated and other things.
I thought there wasn’t really a “limit” on cash in lieu anyway?
Due a call back before the end of the day now with an update on what’s going on.
If they still aren’t playing ball with the new figures, then I’d have 2 options.
1: Cat D + buy back.
Or
2: Have the car collected by my bodyshop guy and have him do his repair estimate, which will be lower and will fall into their acceptable number margin to authorise repair. This option also means no cash pocketed, but if they won't pay mid-high 4 figures for CIL anyway, then nothing more to lose I guess.
Number 2 assumes that they are OK with it being seen to by a 2nd garage. I guess they should be as it's my choice who inspects the car anyway.
Edit*
They are sending an independent valuator round to BMW to give the car a full rundown. I'll try my best to attend during this session.
1: Cat D + buy back.
Or
2: Have the car collected by my bodyshop guy and have him do his repair estimate, which will be lower and will fall into their acceptable number margin to authorise repair. This option also means no cash pocketed, but if they won't pay mid-high 4 figures for CIL anyway, then nothing more to lose I guess.
Number 2 assumes that they are OK with it being seen to by a 2nd garage. I guess they should be as it's my choice who inspects the car anyway.
Edit*
They are sending an independent valuator round to BMW to give the car a full rundown. I'll try my best to attend during this session.
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