LilleyT Posted June 11, 2020 Report Share Posted June 11, 2020 My 2001 2.7 has been written off due to damage on rear quarter, mainly a dent on the wheel arch and a larger one between door and wheel arch below intake. Both not substantial but noticeable. I have owned it for 17 years and am second owner. Its FSH and tons of paperwork. Its done 124k miles. I am talking to insurance, they have offered £5k, with optional buy back at £1380 after excess. It would of course be categorised at a write off, cat C/N. I have listed 7 similar cars between 6-8k on autotrader, although only two have 90k miles. They are not budging. Really not sure what to do, take the offer but not buy it back and accept the loss, buy it back and sell it privately as is hoping to make up the difference... sad times :( any advice? Link to comment Share on other sites More sharing options...
Boxob Posted June 11, 2020 Report Share Posted June 11, 2020 Have you had a non-insurance quote to repair the damage? I assume after 17 years and known history your preference is to keep the car. If so buy it back, have it repaired and don't worry about write off categorisation. It's a keeper. Link to comment Share on other sites More sharing options...
bally4563 Posted June 11, 2020 Report Share Posted June 11, 2020 I would take it to a body shop and ask for a quote to repair, and then do man maths, based on buying it back, repair cost and reselling price with a Cat N, either way you get to keep your car , if you want to. Link to comment Share on other sites More sharing options...
½cwt Posted June 11, 2020 Report Share Posted June 11, 2020 Unfortunately unless prices really have climbed the offer is around the price I would have paid for that spec when I was looking for my car a year or so ago. remember an advert has an asking price, not an actual selling price. I would get it repaired myself as it will cost roughly what you'll lose in excess and buy back and avoid Cat N. At leat get a quote from a reputable local repairer. Link to comment Share on other sites More sharing options...
Boxob Posted June 11, 2020 Report Share Posted June 11, 2020 If the damage is minor then why put it through insurance? You save your excess, under valuation, write off categorisation (thereby preserving its value) and increased premiums in the future. Have it fixed at your cost using the money you've "saved" by not going through insurance. Give the old girl a treat! Link to comment Share on other sites More sharing options...
mike597 Posted June 11, 2020 Report Share Posted June 11, 2020 ^ agree with all the above, I'd seek out an independent cost to repair and do the maths from there. I'd be surprised if it didn't make more economic sense to get it repaired yourself. Link to comment Share on other sites More sharing options...
dpg123 Posted June 11, 2020 Report Share Posted June 11, 2020 You have any pics of the damage? If it's minor I'd just fix it and consider a tidy up of any other body/paint issues? You'll end up with a perfect exterior for not much more than the cost of repair. Link to comment Share on other sites More sharing options...
LilleyT Posted June 11, 2020 Author Report Share Posted June 11, 2020 I was pushing for a high quality repair that I would be happy with, unfortunately that included replacing the whole panel and blending it in down the door and across the rear, about 4k estimate, hence the write off. I'm seeing someone tomorrow to see how much a non replace repair would be via a friends family connection in a local bodyshop. I think part of my concern is that it's due a major service / MOT next month and I think the exhaust is blowing. I can't decide if this is an opportunity to move on to something newer and shiny. Now that I have started the insurance process my renew premium will be affected regardless, NCB is protected though so that may help. How much does a CATN affect the price generally? Link to comment Share on other sites More sharing options...
Davey P Posted June 11, 2020 Report Share Posted June 11, 2020 2 minutes ago, LilleyT said: I can't decide if this is an opportunity to move on to something newer and shiny. Reading between the lines, I think you already know the answer. If I were you I'd take the money, and move on to something else. The CAT N will obviously lower the value, but more importantly it will make the car less desirable to any prospective buyers. A lot of people wouldn't even look at a CAT N car (me included). Link to comment Share on other sites More sharing options...
the baron Posted June 11, 2020 Report Share Posted June 11, 2020 Personally think that is a good offer from the ins co. I would defiantly buy it back for that price, it won't cost that much to fix and keep the car and enjoy it, you've had it a long time and would imagine it carries a lot of memories and would be a keeper, unless you have fallen out of love with it and just want rid, I would say parts alone would bring you in £3k if you wanted to break it, either way its work buying back for £1300 Link to comment Share on other sites More sharing options...
Berni29 Posted June 11, 2020 Report Share Posted June 11, 2020 17 minutes ago, the baron said: Personally think that is a good offer from the ins co. I would defiantly buy it back for that price, it won't cost that much to fix and keep the car and enjoy it, you've had it a long time and would imagine it carries a lot of memories and would be a keeper, unless you have fallen out of love with it and just want rid, I would say parts alone would bring you in £3k if you wanted to break it, either way its work buying back for £1300 Completely agree with above! Link to comment Share on other sites More sharing options...
bagss2 Posted June 11, 2020 Report Share Posted June 11, 2020 OP - I'd snap their hand off. Then sort the dents 'on the cheap' and carry on enjoying the car for what it is. i.e. exactly the car you have always cherished, just with 80% of your equity happily sat in the bank. Win-win. I was myself in the same position with my KN a couple of years back. I initially rallied against it getting written off under any circumstances. But once the numbers came through it actually became a total no-brainer. Cheers, Baggers. Link to comment Share on other sites More sharing options...
bagss2 Posted June 11, 2020 Report Share Posted June 11, 2020 Another thought (on the basis you are determined to 'move on'): IMO £5k is 'right money'. If you take it, you have £5k to invest in the next car. If you take £3.6k and keep the car, then sell the car for, say, £2.9k (easily, given it's provenance), you have £6.5k to invest in the next car. I guess it comes down to how much you value your time and the slight inconvenience of selling your car. If you put it up on here with any number starting with a low '2', I don't think you'd own it much longer.... Cheers, Baggers. Link to comment Share on other sites More sharing options...
Menoporsche Posted June 11, 2020 Report Share Posted June 11, 2020 Whether you repair or sell, I think that's quite a reasonable offer these days. Link to comment Share on other sites More sharing options...
wolverinemac Posted June 11, 2020 Report Share Posted June 11, 2020 Have you checked with breakers how much a used panel(s) would be? Someone tapped the front of my audi and cracked the front grill. Audi approved dealer wanted £820 + VAT for the grill and bits and another £200 + VAT to fit it. Found a pristine used one for £85 and fitted it my self Link to comment Share on other sites More sharing options...
mazza Posted June 11, 2020 Report Share Posted June 11, 2020 Sounds like your head has been turned OP... in which case take the money and run...! Buying your old car back will make some financial sense if you have the space/time/desire to strip it. Link to comment Share on other sites More sharing options...
bagss2 Posted June 11, 2020 Report Share Posted June 11, 2020 From his description, I don't believe that the OPs car is worth more in parts. A 2001 2.7 with a couple of dents and Cat-N/S marker isn't value-less as a complete car! Rather it would possibly represent 'one of the best' at the very bottom of the 986 market price-wise - which, in recent times, has been £3-3.5k. Cheers, Baggers. Link to comment Share on other sites More sharing options...
Cheddar Bob Posted June 11, 2020 Report Share Posted June 11, 2020 i always though that unless you proceed with a claim it wouldnt affect your premium. unless you stacked it yourself and then thats the reason for the claim. Id take the money, less the buy back, repair it if you want or not, make a comedy joke about it, e.g a giant plaster over the bump... and keep the motor. Flog it on, you will still get £4000 for it, plus the £5000 (less buy back) from the insurers. .... food for thought Link to comment Share on other sites More sharing options...
Stuart21UK Posted June 11, 2020 Report Share Posted June 11, 2020 13 minutes ago, Cheddar Bob said: i always though that unless you proceed with a claim it wouldnt affect your premium. unless you stacked it yourself and then thats the reason for the claim. Id take the money, less the buy back, repair it if you want or not, make a comedy joke about it, e.g a giant plaster over the bump... and keep the motor. Flog it on, you will still get £4000 for it, plus the £5000 (less buy back) from the insurers. .... food for thought any claim still goes down on the records, even if you dont proceed...I'm not sure how it would affect future cover and price of quote though, maybe one of our site sponsors could answer? me, funds permitting I'd take the money and upgrade (can you hear that nice shiny 987/981/718 calling?) if not as all above pretty much say, take the money/buy back/dont worry about cat c if keeping (if you are ok with the hassle though of all the assing around) Link to comment Share on other sites More sharing options...
Boxob Posted June 11, 2020 Report Share Posted June 11, 2020 9 hours ago, LilleyT said: How much does a CATN affect the price generally? I've heard /read it's round 30%. Link to comment Share on other sites More sharing options...
Apollo000 Posted June 11, 2020 Report Share Posted June 11, 2020 9 hours ago, LilleyT said: Now that I have started the insurance process my renew premium will be affected regardless, NCB is protected though so that may help. This isn't necessarily the case, if you cancel the claim it doesn't affect your future premium or NCB - I did this earlier this year and didn't lose anything - check your insurer. 9 hours ago, LilleyT said: How much does a CATN affect the price generally? You have an opportunity here, most repaired cars never come with the history of what happened and what was repaired and it is that (the unknown) that would put people off. Fully document the repair, take loads of pics and if you ever sell it will help showing what was done and hopefully get a better price. Get some pics up of the damage, it will help those with the knowledge to let you know if the buy back fee is worth the possible hassle and the cost to repair. Link to comment Share on other sites More sharing options...
LilleyT Posted June 11, 2020 Author Report Share Posted June 11, 2020 Thanks for the comments, really has helped. I'm still in communication with the insurance company and waiting for a response for hopefully a revised offer, but I think they might stick to their guns. More I think about it a newer boxster is very tempting and probably overdue!!! I have owned it for 17 years and it's only ever been touched by Lancasters (Cambridge) and by Matt at Autowerke Norwich (Specialist). It's due an mot / service next month but the MOT will get extended for six months due to Covid. I have some breathing space to sell as is or repair it to a budget and then see if I feel I should keep it or sell it. Buying it back and then selling it warts and all may be worthwhile as at least a buyer can see the damage and understand the reason for the write off. Just a bit concerned I won't be able to move it on... Link to comment Share on other sites More sharing options...
Menoporsche Posted June 11, 2020 Report Share Posted June 11, 2020 You will always move it on. Question is, at what cost. Link to comment Share on other sites More sharing options...
bagss2 Posted June 11, 2020 Report Share Posted June 11, 2020 33 minutes ago, Menoporsche said: You will always move it on. Question is, at what cost. At more than £1,360. Guaranteed. Cheers, Baggers. Link to comment Share on other sites More sharing options...
Cheddar Bob Posted June 11, 2020 Report Share Posted June 11, 2020 55 minutes ago, bagss2 said: At more than £1,360. Guaranteed. Cheers, Baggers. I'll give you £1400 for it 😁 Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.