Fair Valuation?

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Just received a settlement figure for my written off Ford Focus 2013 Titanium 1.6L Automatic with 97k on the clock at £5,289.

I've gone on Autotrader and can only find one other car with the same specification (albeit a different colour mine was a rare Midnight Sky Grey colour), and the price of that is £5,580.

If I set the mileage from 60K+ the highest price is £6,490

So would you say it's a fair valuation? It's their first offer.

 
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Go a year older at 2012 and £90k miles and there are a few more an they are £4,195 to £4,999. Cars of your age dont really change to much due to number plate, more the miles unless there was a facelift.

£5580 sounds reasonable tbh

Or do it the other way. Leave mileage blank set min age to 2013 and max prcie to £6k and see what your £5,580 would buy

2013 here with 67k miles and only £5,540

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2013 with 85k miles at a dealer only £5695

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Quite a few more at £6k but they have only 60k miles comapred to yours so yours being worth £500 less for almost 40,000 miles mroe seems reasonable.
 
smr said:
Just received a settlement figure for my written off Ford Focus 2013 Titanium 1.6L Automatic with 97k on the clock at £5,289.
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smr said:
So would you say it's a fair valuation? It's their first offer.
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It's fair, but no harm in stating to them that you are struggling to find a near identical car for the money.

smr said:
I've gone on Autotrader and can only find one other car with the same specification (albeit a different colour mine was a rare Midnight Sky Grey colour)
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Colour is pretty much irrelevant

smr said:
If I set the mileage from 60K+ the highest price is £6,490
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What has 60K mileage got to do with the price of yours? A considerable lower mileage car will be more expensive than yours.


I think the main difficulty is with it being an auto, 1.6 and titanium trim the pool of cars is so narrow at that age/mileage.

If you widen your search a little, e.g. 2012-2014, 80k-120k miles then you'll get a bigger selection of what might be reasonable (e.g. what is a slightly older lower miles car worth? what is a slightly newer, slightly higher mileage car worth) then average it out.

If the offer genuinely won't get you anywhere near to a replacement vehicle, then you can let them know - but you need a bigger sample size.
 
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Always worth asking for more if it's the first offer. Colour and spec doesn't really make any difference at this stage - most second hand buyers aren't bothered about spec on cars of this age so the insurance company won't be bothered if you deem your colour to be 'rare'. The price they have offered doesn't seem to be that bad at all but worth seeing if you can get a touch more.
 
They always low ball you at first.

I'd say spec does make a difference if the ones being sold differ. It's supposed to be market value for the car.
 
as said you can try and push , maybe they offer a bit more or not , problem is valuation is always going to be lower than retail sales.
we bought a c max 2017 titanium x power shift 45k and payed at the time a reasonable price, wasnt the cheapest but at the time was right spec and colour (had to be auto and i like toys ).
same car on we buy was valued at about 3k less but we could not find anything that wasnt written off repaired for the money.
 
gc123 said:
as said you can try and push , maybe they offer a bit more or not , problem is valuation is always going to be lower than retail sales.
we bought a c max 2017 titanium x power shift 45k and payed at the time a reasonable price, wasnt the cheapest but at the time was right spec and colour (had to be auto and i like toys ).
same car on we buy was valued at about 3k less but we could not find anything that wasnt written off repaired for the money.
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We buy any car etc offers is the trade price. They can't use that as an example.
 
Reason i showed the 63k examples is to reflect their offer... ie. Imo it does seem reasonable.

I could perhaps squeeze another 300 quid so will have a go.

Spec is definitely important lol

My car had auto rain sensing wipers, cruise control, soft touch dash, auto headlights, auto gearbox. It was a really nice fun car to drive.

The base model focus has none of those features so obviously spec is a big factor.
 
Ive already linked you to a titanium 2013 with 60k miles which matches what they have offered to pay you out and that has way less miles. I think their offer is fair

Maybe you might get another £100 or so out of them but that will be it
 
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That sounds fair! Have you asked what category the car is and what the buy back price is? If not, I would, they might want peanuts for it.
 
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