My car has been written off

[Pho3niX90]

So today I received a call from the assessor telling me the car has been written of after my mishap with the pavement. Needless to say it's a very sad day, I get attached to my cars.

I do however have the option to buy back the car, so contemplating if this is a good idea or not, what do you guys think?

BTW. It's the 330 that's written off

 

[ChefDJ]

:sorry::sorry::sorry:

How much will insurance pay out, if I may ask?

 

[sash]

Sorry to hear, i thought you had fixed it and it was driving, just alignment or something was left...

What they quote to repair/replace?If you are able to buy it back without making a it a code 3 then might be a good idea. depends on the amount of damage left.

 

[VinnyJ]

Sorry mate... not the best of news to get...
In terms of buying it back... whats the total cost of the repairs?

:sorry:

 

[Legacy]

How much is it to buy it back?

 

[moranor@axis]

thought you already fixed this?

I would buy it back... but thats me...

 

[Pho3niX90]

Sorry to hear, i thought you had fixed it and it was driving, just alignment or something was left...

What they quote to repair/replace?If you are able to buy it back without making a it a code 3 then might be a good idea. depends on the amount of damage left.

Yes. But there was the body work left to do and shocks, not sure what made them decide to write it of and not sure what the total amount was to repair.
Also, the power steering lines was leaking after the accident and now they are afraid the car overheated and not willing to take the risk to repair body damage just to find out the engine is damaged


The insured value is R120000, and apparently buy back is 35% of that.

 

[tcal69]

man sorry to hear... but there are always other cars out there, so good luck:thumbs:

 

[Nick]

Write it off, buy another one.
I think repairing the car will just cause you more issues.

 

[moranor@axis]

so you buy back at 42k?

any chance the engine overheated? if not I would buy it back without even thinking about it... use the extra money for shocks and other upgrades

 

[sash]

so you buy back at 42k?

any chance the engine overheated? if not I would buy it back without even thinking about it... use the extra money for shocks and other upgrades

+1 but only if you are confident that there arent many issues to resolve and you have identified all problems.

 

[Kyle]

so you buy back at 42k?

any chance the engine overheated? if not I would buy it back without even thinking about it... use the extra money for shocks and other upgrades

+1000

But it wll be a rebuild so you have to think about whether you would want to keep this car forever...

 

[ChefDJ]

If insured for 120k and they will pay out 120k, write it off. You can get another nice 330i individual for that price, with possibly less km's on.

 

[Fordkoppie]

Its sad, but like I said in your other thread when you fixed it yourself.... I am not surprised that they wrote it off.

 

[zaleonardz]

Chef,

Thats technically not correct, if its insured for 120k and the book value is 80, guess what your going to be paid.

So policies specify on trade, some on retail, most take the differance between the two.

I have many customers that are over insured.

Its simple maths that they apply.

If insured for 120k and they will pay out 120k, write it off. You can get another nice 330i individual for that price, with possibly less km's on.

 

[Mo63]

:sorry:

Logical thing would be to get the money and buy another car with that value.We all get attached to our cars but sooner or later we all need to let go.

Don't think its worth the risk of buying the car back only to find out there are other issues.

Hope all goes well for you :thumbs:

 

[ChefDJ]

Chef,

Thats technically not correct, if its insured for 120k and the book value is 80, guess what your going to be paid.

So policies specify on trade, some on retail, most take the differance between the two.

I have many customers that are over insured.

Its simple maths that they apply.

If insured for 120k and they will pay out 120k, write it off. You can get another nice 330i individual for that price, with possibly less km's on.

That's right, that's why I said if they will pay out the insured value then write it off :thumbs:

 

[Nick]

If its a write off, will that not affect insuring the car?
CODE3 or a higher premium?

 

[Tareeq]

Sorry to hear about this boet :nonono:
Hope you are ok if it were me I would buy another one boet :thumbs:
Wish you all the best with your decesion. :thumbs:

 

[Pho3niX90]

Chef,

Thats technically not correct, if its insured for 120k and the book value is 80, guess what your going to be paid.

So policies specify on trade, some on retail, most take the differance between the two.

I have many customers that are over insured.

Its simple maths that they apply.

If insured for 120k and they will pay out 120k, write it off. You can get another nice 330i individual for that price, with possibly less km's on.

To be precises, it's insured for 126000 and some rands, thats the retail value that the assessor confirmed this morning.

As far as I know you cannot insure a car for more than the retail or trade value depnding on which you selected. But I insisted to insure for retail.

---

Thanks guys. appreciate all the responses :thumbs:

---

Looking for a new play thing as we speak