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BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > Regional Forums > UK > UK Off-Topic Discussions > Car has been written off- Insurance pay out question...



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      07-15-2013, 06:44 AM   #1
Ronseal
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Car has been written off- Insurance pay out question...

Long story short, some total nob head pulled out on me on a roundabout, causing me to smack into the side of his car, insurance are claiming its an nonviable repair.

I bought the car for 12,650. six months ago. Admiral are now saying they will offer me 11,459 after i refused the first offer of 11,160. BUT are they not meant to offer you the same amount you would need to go and get a 'like for like' model again?

I've been searching online and cannot find anything for that amount. Where do i stand with this? I have escalated but have been fobbed off and told that this figure will most probably not be increased again and if i want to pursue, will need to go to the financial institutes to complain..

Any advise, much appreciated

Thanks
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      07-15-2013, 06:52 AM   #2
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Spec, age, mileage? What are replacements currently selling for? A 1k drop in the value after 6 months doesn't seem that unreasonable to me.
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      07-15-2013, 06:58 AM   #3
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Its a 57 plate, 325i (3.0l) m sport, alacantara interior, manual, 49k on the clock. Le mans Blue. Pristine condition. With full BMWSH
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      07-15-2013, 07:03 AM   #4
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Quote:
Originally Posted by Ronseal View Post
Its a 57 plate, 325i (3.0l) m sport, alacantara interior, manual, 49k on the clock. Le mans Blue. Pristine condition. With full BMWSH
That kind of money can see you in a 335i nevermind a 325i.

What other spec does it have? Idrive etc?
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      07-15-2013, 07:04 AM   #5
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Really? if thats the case... bring it on! Any examples?
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      07-15-2013, 07:11 AM   #6
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Sadly, insurers won't pay out what you paid for the car. They will only pay "book" if you're lucky.

If you have GAP insurance, you will be able to make a claim for the difference between your purchase value and the insurance offer.

Sorry to hear about your car

Hope you find something to replace it soon.
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      07-15-2013, 07:12 AM   #7
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A quick glance I can see quite a few sub 10k. Remember you'll also manage to haggle more off.

http://www.autotrader.co.uk/classifi...01307127793625
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      07-15-2013, 07:28 AM   #8
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sorry i should have said its a coupe.

Im just so gutted, my car was my beauty!! It was such a stunner and i cant seem to find anything like this again

Why should I be out of a car and out of pocket due to some idiots driving ability?!!! This sucks balls.
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      07-15-2013, 07:55 AM   #9
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I am surprised they are giving you so much tbh! Take it and run. You can get another car easily for that money. You'll have to haggle a bit though as it is summer and car prices do seem to have risen a bit. Dealers are more desperate in the winter it seems (my own personal observations)


http://www.autotrader.co.uk/classifi...01307107738039
http://www.autotrader.co.uk/classifi...01306277512890
http://www.autotrader.co.uk/classifi...01305226892501
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      07-15-2013, 08:00 AM   #10
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Also I'd add that with the 4 series coming out in a few months, getting a short term hire car may be a smart option. A lot of people will trade in 3's for 4's in a few months
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      07-15-2013, 08:09 AM   #11
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Your bound to find a couple of example of a car with a VERY similar spec to the one you are talking about. For example, there are currently 4 AUC 325i m-sport coupes under 50k miles on them. Starting around 13k.

They will all have full BMWSH, although they are all auto's. But I would be sending them to the insurer as proof of replacement cost. Hit a couple on Autotrader and pistonheads too, and you will have a better case.

BUT, if it's going 50/50 on the insurance, you might struggle to get what you want. If it's totally not your fault (in the eyes of the insurance company), then you can stand your ground until you get what you need. It might take a while though. ALWAYS quicker if you were quick off the mark in getting a hire car replacement though, the bill for that generally speeds things up a little.

That said, only loosing 1k in 6 months of ownership is pretty good going.
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      07-15-2013, 08:10 AM   #12
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Try the Financial Ombudsman website...

Have you checked on Glass your specific valuation?...

Those cocksuckers would probably follow the CAP and glass guide.
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      07-15-2013, 10:13 AM   #13
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Quote:
Originally Posted by Ronseal View Post
I bought the car for 12,650. six months ago. Admiral are now saying they will offer me 11,459 after i refused the first offer of 11,160. BUT are they not meant to offer you the same amount you would need to go and get a 'like for like' model again?
You are not out of pocket, you car will have lost more than that in 6 months (+1 owner too) so you are actually up a few quid IMO.

No they give you 'market value' by their estimate, you obviously bought it cheap at the time.

That's a great offer, I'd take their arm off and run before they change their mind and offer you less.
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      07-15-2013, 10:24 AM   #14
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Me too. ^^
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      07-15-2013, 10:37 AM   #15
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There was once a very long thread on this forum about a guy who held on too long selling his car and ended up way below what he could have got for it if he just dropped his price a little in the first place. The moral of that story don't hold out too long.

If you think you can get BMW AUC dealer price from the insurer then you will have to be a great negotiator. Dealer price will be seen as way higher than actual valuation.

Looking on BMW AUC I found this http://www.approved.bmw.co.uk/bmwuk/...AwMFBYOTU3NDQ=

~12-18 months newer than yours and 3 grand more than what they are offering you. That comes with 1 year warranty, breakdown cover and MOT too. Replacing for a similar age and haggling included I think your 11.5k will go far.
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      07-15-2013, 10:55 AM   #16
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Sounds like a fair offer to me.

I'd take it and jump on a cheap lease deal...
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      07-15-2013, 11:16 AM   #17
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The money on offer will replace the car.

There is lots of BMWs out there for the money on offer.

People often get a little ambitious on the value if their own car.

The other thing people don't account for, is the insurance company are offering you the value of the car.

They aren't offering the value of the car plus money to cover the interest of the finance, or the value of the car plus a dealers profit on top of the car value either. It is the value of the car only.
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      07-15-2013, 11:17 AM   #18
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^^ Turn up to a BMW dealer with a 57 plate 325i for trade in and you won't even get to 5 figures.
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      07-15-2013, 11:32 AM   #19
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One mate of mine got offered a ridiculously low amount for his car, and pursued it until the bitter end, it's all about how stubborn you are. He got what he wanted. Which I thought was an extraordinary amount for his car.

Another mate got a call out of the blue from admiral, with no knowledge of the current market, he blagged them, laughed and said "I can't get anything for that money" they asked him how much he wanted, he said 1k more than they'd offered, and they met at 800 over the initial offer on that very same phone call.

Both claims were absolute clear cut non fault though.
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      07-15-2013, 11:36 AM   #20
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You could had paid well "over the odds" for your car, doesn't mean they will pay out "over the odds" too..

Any pics of the damage ?

Just push, push & push even harder for a better settlement figure.
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      07-15-2013, 11:45 AM   #21
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Put it this way. If you were privately selling a 57 plate 325i e92 Msport with 47k miles on it, manual with no leather you'd be lucky to get 11k.

Take the money and go buy this
http://www.autotrader.co.uk/classifi...ge/3?logcode=p

or get on one of those cheap M3 leases if they are still available.
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      07-15-2013, 12:04 PM   #22
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I got full value when my car was stolen but admittedly i only had it 2 weeks. Work out the depretiation that their offer amounts to over the 6mth period and argue it from that point. If yr ar looses say 2-3k per year then u can expect to Hi Georgina. I am just sorting the tenancy agreement. Can you please give me the names of your daughter and her son please.loose half that for the 6mths u owned it. I think their second offer is quite reasonable tbh
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