Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

https://www.boards.ie/discussion/2055940817/signature-rules

Beyond Economic Repair valuation confusion

Options
  • 07-03-2022 12:58pm
    #1
    MythBoy
    Registered Users Posts: 14 ✭


    Hello. I'm hoping to get some opinions / advice. I was rear ended recently in my 2006 2.0 Tfsi (petrol turbo) A6 Avant. It's an older petrol car, I know. It has however been looked after particularly well, serviced every year, bodywork kept well, always clean, fluids always topped up, never thrashed. only 130k kms. The damage however extends to the rear bumper, exhaust, and boot lid (estate car).

    The value I have been given for writing it off is €4500. Which at first thought seems a decent amount all said and done. But I've been looking at trying to price this up myself and there aren't any like this available in Ireland at the moment. To import one from the UK, same car, works out over €7k. Now, yes the markets are different, but currently if I wanted to replace the car for the same, this is how much it would cost me.

    Finally, I've also got confused with my options. Can anyone describe what salvage and keep the car means?


    TIA for any helpful replies and suggestions. Cheers



Comments

  • Options
    #2
    bazz26
    Registered Users Posts: 51,142 ✭✭✭✭bazz26


    The value of 4500 is what they have determined to be the current market value of the car here. Unfortunately even though there are little or no similar cars for sale here they won't pay what it costs to import one from the UK. You could try to negotiate a slightly higher valuation stating the above case but you won't get anywhere near 7k for it.

    Salvage is basically what a scrap dealer will offer to buy the car from the insurance company for as the car will become the insurance company's property once you agree to accept their settlement figure.

    Keeping the car in the above context would mean that you can buy the car back off the insurance company for it's salvage value and look to get it repaired yourself. They will deduct the salvage value from the write off amount they agree to settle with you. For example if they salvage value is 1500 they they will settle 3000 + the car.

    If you can source the replacement parts for reasonable money that's way cheaper than buying a replacement car then it makes to buy the car back off them and get it repaired yourself. The bumper and boot lid might be straight forward enough to source from a scrap yard though take into account the possibility of having to get them resprayed if you cannot find them in the same colour as your existing car. The exhaust might have to be bought brand new as one from a scrap yard might be uneconomical if it's been sitting in the elements for some time.



  • Options
    #3
    [Deleted User]
    Posts: 0 ✭✭ [Deleted User]


    I'd go back and negotiate up to 5k for the vehicle but I think you'd be pushing it going past that



  • Options
    #4
    User1998
    Registered Users Posts: 5,892 ✭✭✭User1998


    To be fair there are petrol saloons on Donedeal for around the €2k mark so I think expecting €7k is a bit much.

    Still you could try get a bit more out of them and considered buying the car back and getting it repaired.

    A bumper and boot lid and rear section of exhaust wouldn’t be expensive.



  • Options
    #5
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,632 Mod ✭✭✭✭Henry Ford III


    Might be a moot point but what was it insured for?



Advertisement