Need some buying advice...

[Draven]

Need some advice and opinions please guys.

Saw a 2004 Cooper S for sale, car has been marked as code3, stolen and recovered. Now normally if I heard that I'd completely lose interest, but the car is in fantastic condition only issue is saw on the bodywork was a few stone-chips on the bonnet and from the quick look I gave it the interior looked brand new. To add to the amazing condition of the car it only has 20 000kms on the clocks and at R90k its well below normal resale.

Since its a 2004 the motorplan wouldn't be intact despite the fact that its been marked as a code 3. I'm not too worried about resale because if I buy a car now I'm buying it to keep it for quite a while, and when I eventually upgrade it will probs go to the wife...

So whats the general feeling about buying something like this? What should I lookout for and be aware of? (I know to make sure its been police cleared, but what else)

 

[Coisman]

imp:
Dude get me the plates I will gladly check it out...
stolen recovered is NOT a code 3, stays code 2. :nono:
So if it's code 3 there is something else wrong.
PM me the details ok, what you can get off the vehicle. :thumb:

 

[Mike1]

Hi there

I work for MINI Auto Atlantic in Cape Town.

Drop me the Reg, VIN, Engine Number and owners name please. I will run a HPI, Motorplan and VIN check for you.

I think that with its mileage it is a good buy but with a Code 3 I would be nervous as that car is a R50 (Could be R53) Cooper S which were known for early gearbox issues as well as electrical faults. The engines (Daimler) are tough as rock and the bodies are very strong.

The retail on the car is actually R110 000 and you are getting it at trade. I would suggest you bring him down to about R80 000. In fact... Our valuator here said he would offer a lot less.

Of course the above does depend on the spec. Hence me wanting the VIN so I can see what the car has... Chilli pack, xenons etc etc. Packages like the Pepper Pack etc do add to the value of the car.

I would suggest that if you do decide to buy the car that you take it to a dealership and request a quality check. It will cost R1000 but they literally pull the car apart and will give you a long list of what is wrong or right. As a dealer we cannot even sell a brand new car without doing this check.

Is R90 000 the max you can spend? Are you buying cash or finance?

Mike

---

Coisman is actually right... If its stolen and recovered then a very good buy but you can insist on less price.

Why did I think that code 3 was a write off that was put back on the road?

Mike

 

[Draven]

I'm currently out of town, but if I make it back in time I'll go to the dealership (if you can call it that), and get hold of all the details I can. Thanks a mill for the offers to help :clap:

The retail on the car is actually R110 000 and you are getting it at trade. I would suggest you bring him down to about R80 000. In fact... Our valuator here said he would offer a lot less.

Yeah I was thinking the same, make him a nice low offer and see if he bites

I would suggest that if you do decide to buy the car that you take it to a dealership and request a quality check. It will cost R1000 but they literally pull the car apart and will give you a long list of what is wrong or right. As a dealer we cannot even sell a brand new car without doing this check.

Didn't know I could do this, but very good to know as I'm becoming more and more sure my next car will be a BMW (or MCS)

Is R90 000 the max you can spend? Are you buying cash or finance?

If its a code 3 I doubt I'll get it financed and will have to try and make another plan as my bank balance isn't nearly that high hehe. But in essence, I'll be financing it (somehow). Absolute max I can go currently is R110 000.

Coisman is actually right... If its stolen and recovered then a very good buy but you can insist on less price.

Why did I think that code 3 was a write off that was put back on the road?

I've asked a couple of people as I also had it as code3 was a rebuild, but apparently they can mark a recovered vehicle as either code 2 or 3, pretty much depends on how they feel, but I'm still not too sure.

 

[Gerhardm32]

I've asked a couple of people as I also had it as code3 was a rebuild, but apparently they can mark a recovered vehicle as either code 2 or 3, pretty much depends on how they feel, but I'm still not too sure.

I was also told my BMW is now a code 3 after it was stolen and recovered last year, but Coisman checked for me and it's still a code 2. I wonder really about that still and who the hell came up with that nonsence of the code 3 now for stolen & recovered cars.

 

[Draven]

I've asked a couple of people as I also had it as code3 was a rebuild, but apparently they can mark a recovered vehicle as either code 2 or 3, pretty much depends on how they feel, but I'm still not too sure.

I was also told my BMW is now a code 3 after it was stolen and recovered last year, but Coisman checked for me and it's still a code 2. I wonder really about that still and who the hell came up with that nonsence of the code 3 now for stolen & recovered cars.

Yeah I don't get it either :thinker: but then again This Is Africa :dunno: so who knows how anything works

 

[zaleonardz]

Well we covered this the other day.

Code 3 is a rebuild, car written off...

Remember that you cannot get finance or insurance on a code 3 (last I heard).

Stolen and recovered is still a code 2.

 

[Gerhardm32]

Well we covered this the other day.

Code 3 is a rebuild, car written off...

Remember that you cannot get finance or insurance on a code 3 (last I heard).

Stolen and recovered is still a code 2.

That's how I got it too, but some asshole started this rumor then and I don't think he is f*&^ing funny.

 

[Draven]

I'll get the numbers to Coisman & MiniMike ASAP so I can find out if it really is a code3, and if it is I'll forget about it and continue the hunt for a nice MCS or E46...

 

[Coisman]

I'll get the numbers to Coisman & MiniMike ASAP so I can find out if it really is a code3, and if it is I'll forget about it and continue the hunt for a nice MCS or E46...

:thumbsup:
The rumor about code 3 status on a stolen recovery came about like this:
Your car get's stolen, insurance pays out, or after 6 months it gets recovered.
because by law now they cant give it back to you, saps sold it on an auction.
they then needed to scrap the car, put new numbers, re-roadworthy it, and re-register it.
So if you then bought that car on the auction, it would state code 3, stolen recovery,
but not code 3 because it was stolen, but because it had to be scrapped.
So the misconseption started there.
Are we clear!! :dunno:

 

[Gerhardm32]

I'll get the numbers to Coisman & MiniMike ASAP so I can find out if it really is a code3, and if it is I'll forget about it and continue the hunt for a nice MCS or E46...

:thumbsup:
The rumor about code 3 status on a stolen recovery came about like this:
Your car get's stolen, insurance pays out, or after 6 months it gets recovered.
because by law now they cant give it back to you, saps sold it on an auction.
they then needed to scrap the car, put new numbers, re-roadworthy it, and re-register it.
So if you then bought that car on the auction, it would state code 3, stolen recovery,
but not code 3 because it was stolen, but because it had to be scrapped.
So the misconseption started there.
Are we clear!! :dunno:

Totally clear now thanks!

 

[Coisman]

imp:
Cool :thumbsup:

 

[Draven]

Thanks for the clarification Coisman. Do you know what the effects of this form of code 3 would be on insurance and finance?

 

[Hellas]

Stolen and recovered is still a code 2.

Can you still get finance for a Code 2? Six years ago I wanted to buy a stolen/recovered Hilux and the insurance told me it was code 3 and nor could I get finance, but insurance was through the roof too.

 

[Draven]

Code 1 is a brand new car, then once its registered it becomes code 2 because its used. So nothing funny with the finance and insurance there. Well that is how I understood it hehe

 

[zaleonardz]

Yep, Code 2 is used.

Ta Coisman... that makes perfect sense now

 

[Coisman]

imp:
I aim to please, that's why I have 9 reputation points :excited:

 

[Draven]

Turns out its a rebuild :cursin: Can't believe how skelm those guys are. I'm actually tempted name and shame them...

 

[Leimie]

Turns out its a rebuild :cursin: Can't believe how skelm those guys are. I'm actually tempted name and shame them...

Name and shame! Im sure we could probably guess who they are.

 

[Gerhardm32]

Turns out its a rebuild :cursin: Can't believe how skelm those guys are. I'm actually tempted name and shame them...

Name and shame! Im sure we could probably guess who they are.

+1