insurance writeoff value help required.

wijcc · 9 Jan 2010 at 16:45

I need a bit of help. My car which is a 2001 Ford Focus 1.6 Ghia with 65K miles on it. Was involved in an accident (see post http://forums.overclockers.co.uk/showthread.php?t=18092109)
My insurance company has offered me £2600 for my car. and given me the option of buying back my old car for £650.
Is that an good offer.. if not how can I argue it to increase my payout of £2600 and more importantly decrease the buyback price for my old car (of £650)? My old car has been deemed an Cat-D write off by the way.
Thanks in advance guys

Captain_Slick · 9 Jan 2010 at 16:49

£2600 is a good price for that car. Can't see you getting more than that.

( |-| |2 ][ $ · 9 Jan 2010 at 16:51

No need to buy it back unless you want to break it for parts. Just take the £2600 and buy a direct replacement.

wijcc · 9 Jan 2010 at 16:55

I wanted to buy back my car, fix it up myself and keep driving it.

james.miller · 9 Jan 2010 at 16:56

£2600 would buy you a newer focus with less milage, seems a good deal to me!

Trifid · 9 Jan 2010 at 17:17

That's a very good price for the car, I'd take it and run. Not worth buying a Focus back really.

Mr-White · 9 Jan 2010 at 17:19

Haggle for a higher price, you've nothing to loose

MW

wijcc · 9 Jan 2010 at 17:22

How do i go about to haggle??
I am going to check the classifieds (autotrader etc) to check similiar cars for ads/prices

Tinders · 9 Jan 2010 at 18:33

I'd buy that back wont cost more then £150 and half a days work (if you get the same colour parts) to put right.Nice tidy profit on that or a cheap car on the road for yourself that way.

Haggle with em, you should be able to get the buy back down to 400 or so.

wijcc · 9 Jan 2010 at 18:44

Tinders said:
I'd buy that back wont cost more then £150 and half a days work (if you get the same colour parts) to put right.Nice tidy profit on that or a cheap car on the road for yourself that way.

Haggle with em, you should be able to get the buy back down to 400 or so.

Thanks Tinders, how do I haggle them on the buyback price? The guy on the phone said that was the salvage price according to the engineer. On what grounds can i haggle? (sorry but i am not used to or good at haggling)

Ricochet J · 9 Jan 2010 at 18:46

I'm assuming they'll catogrise the damage as C or D before they give it to you?

wijcc · 9 Jan 2010 at 18:53

yeap, it is a Cat-D writeoff

Happy · 9 Jan 2010 at 19:59

wijcc said:
Thanks Tinders, how do I haggle them on the buyback price? The guy on the phone said that was the salvage price according to the engineer. On what grounds can i haggle? (sorry but i am not used to or good at haggling)

The process for disputing a total loss offer with Swiftcover I imagine is the same as with many other insurers. You would need to use website such as Parkers/Autotrader/Glasses etc to find 3-5 vehicles with same age/mileage/condition within a xx mile(SC is 30 miles) radius of your home address and then send the proof back to the engineer for him to review your offer

[TW]Fox · 9 Jan 2010 at 20:03

( |-| |2 ][ $;15696740 said:
No need to buy it back unless you want to break it for parts. Just take the £2600 and buy a direct replacement.

Thats easily fixable for much less than his payout. Worth buying back and continuing to use it.

wijcc · 9 Jan 2010 at 20:50

Happy said:
The process for disputing a total loss offer with Swiftcover I imagine is the same as with many other insurers. You would need to use website such as Parkers/Autotrader/Glasses etc to find 3-5 vehicles with same age/mileage/condition within a xx mile(SC is 30 miles) radius of your home address and then send the proof back to the engineer for him to review your offer

I need to argue the value of the written off car as I want to buy it back. They have made an offer of £650 to buy it back. But I want to buy it back for less. How can I haggle the price of this. Written off cars are not available on autotrader/parkers etc. So how can I haggle on this/on what grounds please?

Tinders · 9 Jan 2010 at 21:30

Just chance it, make em a cheeky offer at first of say £300 and then up to £400.

Haggling isnt an art, its just about taking the pee imo, sometimes it works, sometimes it doesnt!

wijcc · 9 Jan 2010 at 21:34

Most insurance companies, on average, figure 20% of the actual cash value of the vehicle for salvage value on late model vehicles (Years 2005-2009). 15% for vehicles built in 1999-2004. 10% for anything older than that. However, there are exceptions.

I got this off the web

I am going to try this on Monday when I phone the insurance copmany back

wijcc · 11 Jan 2010 at 16:23

update: well the insurance company will not move on the buy back price. Apparently the salvage company are offering the insurance company £650. So if I want to buy it back I have to pay the full £650.
In the meantime my insurance cover is now cancelled, to get it reinstated I will have to get the car repaired and have a MOT test done and then send in the MOT certificate to get my insurance cover reinstated. The car is currently MOT-ed till March 10th 2010.. can I then get a new MOT now?

Wyvern971 · 11 Jan 2010 at 16:31

wijcc said:
I am going to try this on Monday when I phone the insurance copmany back

On cars.........not for motorbikes, not by a long shot.

My Hornet was written off, £3,500 paid out, buy back price.....£2,600

LiE · 11 Jan 2010 at 16:33

wijcc said:
update: well the insurance company will not move on the buy back price. Apparently the salvage company are offering the insurance company £650. So if I want to buy it back I have to pay the full £650.
In the meantime my insurance cover is now cancelled, to get it reinstated I will have to get the car repaired and have a MOT test done and then send in the MOT certificate to get my insurance cover reinstated. The car is currently MOT-ed till March 10th 2010.. can I then get a new MOT now?

Car has no MOT because it was wrote off.