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    Book vs Replacement Value Philosophy?

    This’ll be long winded since it incorporates an introduction on my part to this forum.

    Story begins with a Ducati* I once had and was passionate about. I cherried it out over ~three year period. Spent an obscene about of time working on it. Personal labor offset much of ownership expense. Art to behold. Music to listen to.. and poetry to ride. (gorgeous countryside can be found in SW Wisconsin) There was the money and crazy time spent to bring it to the well-maintained showroom condition it came to be in.

    Then one day, proverbial left-turning, absent-minded woman totaled my mistress. ‘Book’ value was far shy of ‘replacement’ value. (~ 250-ish of this particular model in the states, fresh: paint, chain, sprockets, clutch, tires, sorted out rocker arm ailment, bla bla bla..) Thus; frustrating settlement resulted. (aside from a numbness and occasional light ‘tingling’ in my left thigh, I came through unscathed and ~ $7K in pocket) (‘replacing’ that bike would have costs approaching roughly $10K)

    My ’88 Integra was/is getting WAY up there in miles and has gone from nice ride to reliable hoop ride. It was time to start thinkin new [four-wheeled] vehicle. At first, was seeking a clean 944.. fun, but at 32, climbing in and out of a Porsche cockpit didn’t feel quite right. A clean/well maintained 318is was found however, and quickly snatched up.

    As of this post, it has, indeed, been a fun project. Great aftermarket support. Great tech articles available. Numerable enthusiasts. I am completely guilty of making regrettable eBay purchases before following through on research. (like the Tokico’s I’d sooner toss in garbage before selling them to some other poor bloke, let alone installing them on my car) But there have been some nice eBay scores too. (like the 4.10 LSD / e30 318is in my possession came with open dif.. or the slightly used Supersprint exhaust (which was a total bargain))

    ~ 95% of ‘upgrade’ parts have been accumulated. ~ 60% of work is done. ~ $1200 needed yet for odds and ends bushings, mounts, tires, etc. before completion. I’m inclined to do a nice write-up with details.. but certainly not at this time. Fairly standard refurbish job with upgrade embellishments throughout theme.

    I’m not rich. I work hard. I study hard. I party hard. Job market in Madison has ‘gone to pot’ since.. well, the latest presidential administration. Madison is a college town swamped with grads and it’s economy has further gone to pot amplified by scholastic funds being diverted to military funds. After next spring semester is completed, I’m moving to Chicago. That’s all there is to it.

    If I’m gonna spend ~ $10K on a car, it had better have a ‘cool factor’, be [for the most part] reliable, and fun to drive. This fully justified taking on the 318 as a good project car.

    OK. Here’s the nutshell of my post: rolling around in a car worth more than it’s book value kinda spooks me. (not wanting to repeat Ducati tragedy)

    What are your thoughts on that matter?


    *Duc pics:
    -----Zen and the Art of e30 Maintenance - / - Zen TOC - / - Zen Summary

    #2
    it scares the shit out of me. The thing that calms me is that if bad things happen i could buy the car back and get most of the parts off my car unless a wreck is really really bad. And the fact that i am young and bad things cant happen to young people...ever.
    https://www.youtube.com/channel/UC-h...wE3UqwjjmaTrXg

    Comment


      #3
      The common trend that I see is that the older a car gets, the less Blue Book value means. This becomes particularly true if the type of car has an enhusiastic following or one that is very rare(see e30 m3).

      The best way I can think of to ease your mind is to find an insurance company that lets you state the value of your car. They of course adjust your fees accordingly meaning your rates are higher...
      sigpic
      "The best argument against democracy is a five-minute conversation with the average voter." - Winston Churchill

      Comment


        #4
        your 32 and the thing stopping you from getting a 944 is getting in and out of the cockpit?



        seriously? ; )


        beautiful bike by the way

        Comment


          #5
          clean duc

          think about how i feel. if anything happens to the touring i'd get ~$6k, whereas its worth like 13.

          not only that, it's not really replaceable
          Originally posted by blunt
          can you get me a deal on cases of their (fiji) bottled water? i wash my 02 in that shit

          Comment


            #6
            Let me chime in and say that I am fighting that battle right now with the ins company on my wifes e34 540. Book on the car is $8500 and after the $500 decut they are offering me $5500 or $4200 and me keep the car. I am fighting tooth and nail to get at least $5000 and keep it. It can be fixed but I have several people want the car since I have already bought my wife and e39 528i. We are only $800 apart so we will see what will happen from here on out. I am in the maket for new insurance.
            sigpic
            1990 E30 325ic (sold for more than I paid for it after 5 Years)
            1995 E30 325e (in progress)
            1987 E30 325is (totaled)
            1990 E30 325i
            1991 E30 318is M50 PWR
            1996 E36 328ic
            1997 Z3
            2006 F150 Super Crew 5.4L 6.5' bed The work horse (need something to drag all these old BMW's home for resurrection.)

            Comment


              #7
              Originally posted by E30godz
              your 32 and the thing stopping you from getting a 944 is getting in and out of the cockpit?

              seriously? ; )
              well, that and likely high maintenance cost.


              beautiful bike by the way
              thanks
              -----Zen and the Art of e30 Maintenance - / - Zen TOC - / - Zen Summary

              Comment


                #8
                After reading this I ran the KBB on my immaculate 53k ic and got 5500.00 They are on halucinogens! I would not part with it for a cent less than 8k no way.

                Welcome & sorry about your bike. Glad you were not hurt.

                [IMG]https://cimg4.ibsrv.net/gimg/my350z.com-vbulletin/550x225/80-parkerbsig_5096690e71d912ec1addc4a84e99c374685fc03 8.jpg[/IMG

                Comment


                  #9
                  I've put way more into my car than it's worth. I'm probably close to 20k including the purchase price, and I hope to do a lot of work next spring (new driveshafts, transmission, steering rack, strut mounts, swaybars, seats, etc). but you know what? I'd rather wreck my car and end it that way than have it stolen, or sell it to some smuck who'll ruin it. and if it does get wrecked, I'll fix it and turn it into a track rat, and maybe start looking for an E30 M3 to cherry.
                  Build thread

                  Bimmerlabs

                  Comment


                    #10


                    -Charlie
                    Swing wild, brake later, don't apologize.
                    '89 324d, '76 02, '98 318ti, '03 Z4, '07 MCS, '07 F800s - Bonafide BMW elitist prick.
                    FYYFF

                    Comment


                      #11
                      Originally posted by Charlie


                      -Charlie

                      Response of the Week
                      BEERTECH

                      Comment


                        #12
                        In all seriousness. I'm going to borrow the race car philosophy: If you can't push the car off a cliff and walk away with no regrets, don't do it.

                        Car modding is a hobby, just like throwing money into home stereo equipment, strip clubs, or up the nose. You don't expect to get any of it back, and you're a fool if you think you would. If the thought of wrecking your 15-20 year old car and being in dire financial straits because of the money dumped into it scares you, don't do it.

                        Buy a hon-yota and leave it stock.

                        -Charlie
                        Swing wild, brake later, don't apologize.
                        '89 324d, '76 02, '98 318ti, '03 Z4, '07 MCS, '07 F800s - Bonafide BMW elitist prick.
                        FYYFF

                        Comment

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