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Advice Please - New car or Buy Back


alistair1982

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Hi All,

 

Just after some advice, as some of you might of seen I lost my car to the floods in cumbria last weekend.

I am still waiting for the insurers to assess the damage as they have a backlog but hopefully that will happen next week.

 

I am not sure what to do, if they write it off which is likely, do I buy it back and replace the engine myself?

The car itself was in great condition, 06 reg GT, 62k miles on it full service history, spotless inside and out.

Or do I just take the money and start a fresh, obviously buying back will reduce the value, and what are the costs of a replacement engine?

 

Any information on costs would be useful

 

Cheers

Al

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Start gathering information on what your car was worth. Use Parkers, auto trader, forums etc to find examples in the condition yours was in and their value.

Use that info to fight with the insurance I'd their first offer is too low. Stick to your guns on what you need to replace your car.

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Start gathering information on what your car was worth. Use Parkers, auto trader, forums etc to find examples in the condition yours was in and their value.

Use that info to fight with the insurance I'd their first offer is too low. Stick to your guns on what you need to replace your car.

 

+1

 

The first offer is always low. Years ago I had an XR2i written off after a best man late for the wedding crashed into the back of my car while I was waiting to turn right. I had been working on it with the intention of going stock hatch racing. First offer was £500, after showing evidence of all the work I had done on it I got £1000 plus the car back.

 

It could well be worth it!

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never accept the first offer! when someone crashed into my old Honda civic I was offered a cool £1000 payout, which I declined saying the car was worth £2000. they then offered £2000, which I then declined again, saying I wanted £2200. eventually settled on £2100, which was only £300 less than I paid for the car 6 months previous.

 

As said above, start getting evidence of prices of similar cars - and preferably from dealers, rather than private sellers, as these will obviously be more. best of luck!

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As above, the joys of arguing with insurance companies. I remember when my brothers car was written off, they offered him £1500 for the first offer. We sent back adverts from garages showing that to buy the same make/model/spec with same mileage etc you were looking at more like £5500. They didnt question it and immediately increased the offer to £5500. It a shame really that they always try it on like this. I guess there must be some people who would just take the first offer.

 

With regards to buying the car back, for me it would depend on what price they want for it. If its a bargain, then id be tempted to buy it back and break if for spares. When my last car was written off, the insurance company said I could keep it for free, so I ebayed it and got a nice bit of cash for it. As others have said I certainly wouldnt bother trying to fix it up and get it running again.

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