My mother, aged 80 has just had her first road accident. Her 10 year old one owner Honda Civic 1.5 Vtec with just 30000 miles has been written off by the insurance company. There offer is £1300. The price guides on sale go back to 1998 only. The assessor said he used Glasse's guide. For the mileage the price seems low. Any thought on what I should suggest is a fair price ?
Edited by Pugugly {P} on 08/11/2007 at 21:12
|
Check out What Car valuation facility on line. I had a quick look and based on a 97/R 5 door the trade price is £995 with private about £1380. My immediate reaction is that £1300 is a good offer. A 10 year old Honda is a 10 year old Honda and no matter how good or low mileage is teetering on the "bangernomics" area of the market. Not suggesting your car is anything like a banger but it is 10 years old and the insurers can only give you a reasonable market value. At this age condition is the key (rather than a low mileage) and judging by the valuation the condition of your mothers car must be spot on. Personally I'd accept the offer now before they change their mind!
An obvious downside to this is undoubtedly the value of the car to your mother will far outweigh the monetary value and there is probably little hope of finding an equivalent replacement for £1300.
|
|
|
Peter
Glass's guide only goes back 10 years as well. Parker's online guide lists a '97P Civic - you'll have to do your own adjustments, but that is way too low.
|
got to agree with screwloose insurance assesors are my most hated people i would rather have a pint with the taxman at least he will tell it straight
your mothers car will have the bulbous headlights? depending on it being that nice metallic blue and no rust on the rear arches and good history that car would retail at £1995+
i would want a minimum of £1500 dead
look on autotrader somewhere on this site for a link and see what a car similar is doing on there minimum to maximum and take an average,remember the less these self employed assesers get away with giving you the bigger their bonus
|
|
|
Glass's guide only goes back 10 years as well. Parker's online guide lists a '97P Civic - you'll have to do your own adjustments but that is way too low.
Parkers are in cloud cuckoo land with all their prices and it is the bane of most motor traders.
The last two cars I have bought (the most recent just last week) I have paid what Parkers quote as the trade in price but this was what the dealer had them up for on their forecourt. If the dealer had these cars marked up at Parkers hopelessly optimistic "recommended dealer price" they would surely sit there for eternity. In both instance the dealer price I paid tallied with other similar models at other dealers, other classified ads etc and what I would consider market value i.e. not overly cheap but not overly dear either.
The only time I can seem to consistently marry up Parkers "recommended dealer price" with a forecourt is approved VAG dealers with their eye wateringly priced Golfs. There is also the trap that sellers (or unfortunate victims of insurance claims) fall into whereby they expect the trade in or loss value of the car to be within a a whisker of a forecourt price. In just ain't like that sadly.
No , I am not a trader and would ultimately being sharing the same frustrations were my car to be written off tomorrow but, conversely, I would not be looking to Parkers for a gospel value on my car either.
|
Could someone please answer a question I have about write-off values?
Am I correct in assuming that the amount I am entitled to receive if my car is written off is the amount that the car would sell for in a private sale on the open market - i.e. the amount I would expect to pay to replace the car if buying from a private seller rather than a dealer?
(My thinking here is based on the fact that trade-in value is below the open market value, and the price a dealer sells a second hand car at is above the open market value because the buyer has some come back with a dealer.)
|
Thanks to everyone for their advice. It is much appreciated. I will go back to the assessor and ask for £1500 .
|
|
IMO £1300 is an extremely generous offer.
|
Hello Tyro.
In reply to your question, you will find the answer on this forum. Search for the words: ombudsman write off value. Alternatively, you can try google. That will ensure you get a wide source of references to enable you to form a definitive view on this subject.
|
Thanks, jbif. I did as you suggested and found this helpful thread: www.honestjohn.co.uk/forum/post/index.htm?t=50989
It was, as so often, Dalglish who provided the key quotations - which leads me wonder what has happened to him,since he's not posted here since August.
|
Wise buyers list cars going back 97 P with free mileage adjustment see tinyurl.com/2dfcey
not sure how accurate the prices are as I'm just a normal punter and no car dealer
|
Often said, but very true: "A car is worth what someone will pay you for it."
One thing that does puzzle me is the national nature of price guides. Travelling around; I see cars for sale at silly money [by S/E standards] getting snapped up.
The trade price of a 7 y/o car in the S/E is about half what it'll fetch in Scotland. [Cars seem to sell new in the South and then migrate northwards like spring birds.]
It'd be fascinating to see the year-identifier stats for an ANPR on the A3, against one on the A82.
|
|
|
|
|
