insurance claim feedback... what is this 1995 325i worth?

[ethree]

How about finding comparable cars for sale? Find ones with similar milage and similar condition, and average the prices. Seems simple to me.

Those comps are probably around $2500 this guy wants $4000+. The guy is insane. Cars are supposed to be maintained! Maintaining a vehicle doesn't make it worth more, not maintaining a vehicle makes it worth less. Blueboo, nada etc. values are based on properly maintained vehicles.

[Eliminator]

How about finding comparable cars for sale? Find ones with similar milage and similar condition, and average the prices. Seems simple to me.

[parkerbink]

Screw him since he obviously can't drive. Two accidents in a few months is ridiculous.

I say this from experience as my 75 year old Dad has had 4 good sized accidents in the last 22-24 months. First he totaled a 2005 Passat after getting it back a few months before.

Got a 2007 Lincoln LS had a small accident (not his fault )and the car is now in the shop getting 15k+ in repair.

I am doing what I can to get him out from behind the wheel.

[GraphicRage]

Although I hate insurance companies given being previously screwed, I think the offer of $4200 is fair considering:

A) the mileage
B) the accident was his fault

I used to have a grand am gt and had rebuilt the engine, and I didn't get dick for that when a drunk driver crashed into me totalling the car. His insurance company actually tried to make the accident 10% my fault until I bitched up a storm. I settled on retail value of the car which allowed me to buy the van i was looking at.

[FiveSpeedSquirrel]

So when JeffNJM3 tells you how to do your job you thank him but when xLibelle does it you get pissed?
Was the accident his fault or was it your client (other driver) who is at fault?
I think this makes a difference due to the hassle this guy is going to have to go through to replace his car. You can't just go to the BMW dealership and buy one in the same condition as his was. If it was his fault then its his fault and he deserves the hassle. If it was someone elses fault then its not fair that he has to deal with all of this when he was "just driving along". Not know the specifics of this case its impossible to say.

I tried to give Jeff a courteous response because he showed a knowledge of how insurance claims work, and considered my scope of control as an adjuster. I am not helped by a response of "just give him what he wants," after I have already explained why I can't just do that.

The accident was his fault, he is our insured. He actually just got the car out of the body shop from a claim a couple months ago (front end damage, maybe $1500 in damage), and then had another accident.

[fire6-27]

So when JeffNJM3 tells you how to do your job you thank him but when xLibelle does it you get pissed?
Was the accident his fault or was it your client (other driver) who is at fault?
I think this makes a difference due to the hassle this guy is going to have to go through to replace his car. You can't just go to the BMW dealership and buy one in the same condition as his was. If it was his fault then its his fault and he deserves the hassle. If it was someone elses fault then its not fair that he has to deal with all of this when he was "just driving along". Not know the specifics of this case its impossible to say.

[FiveSpeedSquirrel]

Failing the ability to do anything more what is the point of the post? You know what you can and can't do. If we say the car is worth what he is asking so what?

I started the post out of curiosity, not to determine how I should settle the claim. I have to pay the claim by my company's standards, you're right when you say I know what I can and can't do. I just wondered what a bunch of BMW enthusiasts think about the settlement.

And as far as the maintenance goes, everything he changed was due to the item breaking. None of it was preventative. The only exception to that may be the new struts he purchased, since you can obviously drive on bad struts, and not everyone replaces them when they should.

I know BMWs have a reputation for expensive maintenance, but this guy didn't appear to get overcharged or take his car to the dealer. I am amazed he repaired $3600 worth of things in a calendar year.

[LivingLegend06]

What exactly was in involved in the maintenance; was it preventative or because of failures? How long has he owned the car? What other cars does he own if any?

These things may not change the value to the average buyer, but to me they really make a difference. I like to think that if he has owned the car for many years then its going to have more value because obviously the owner liked it enough to keep it that long and took better care of it. If the person owns a classic or rare car then that would also mean that it is likely that he is an enthusiast and took better care of the car.

When I walk up to a house to look at a car and its in a garage next to a fully restored Corvair under a cover, its going to have more value than something sitting in the driveway next to a rusty Camry. yes, I have been in both situations and I was far more interested in the first car.

Fyi, the insurance paid me $4500 for the only car I've had totaled. I bought the car for $2000 only a few months before. 1990 mustang gt, 5spd, ~134k

[parkerbink]

I had a 72 2002 in 1980. I had 7500.00 in receipts as over three years I rebuilt the car. It was hit by a drunk driver on the fuel filler side rear fender & blew up.

I got more than the receipts. I'd say find a comparable car or offer to split the difference.

Failing the ability to do anything more what is the point of the post? You know what you can and can't do. If we say the car is worth what he is asking so what?

[FiveSpeedSquirrel]

give him what he wants. hes not asking for much and its bad enough for him that he has lost his car. It sounds like it was in good condition and if milage is whats holding you back, stick it because these cars are worth it. obviously you cant cheat the miles but it cant be hard to roll the difference off on to something else about the condition of the car.
Ive been in a couple situations where its a german car at a loss... its no fun trying to find a replacement for the quality of vehicle that you expect.

Thanks for playing, but I didn't ask for advice on how to do my job. I just wanted to know what you guys thought about the price. Please read post #7 for an explanation of how I have done everything within my power to give him as much money for the car as possible.

[delfin]

I'd say something like $4500, which is a very generous price saying that e36 m3's usually go for about $8000.

[nando]

$4200 is being very generous!

[xLibelle]

give him what he wants. hes not asking for much and its bad enough for him that he has lost his car. It sounds like it was in good condition and if milage is whats holding you back, stick it because these cars are worth it. obviously you cant cheat the miles but it cant be hard to roll the difference off on to something else about the condition of the car.
Ive been in a couple situations where its a german car at a loss... its no fun trying to find a replacement for the quality of vehicle that you expect.

[FiveSpeedSquirrel]

Yeah we use CCC Valuescope... cool to meet someone who knows this stuff. It's actually an Illinois claim, though. If we could find a car similar to his, I would like to go the route you suggested. But it's hard to find a car in very good condition with so many miles. If he could find something at least over 200k miles, that would help, but he just isn't finding anything. We already have three vehicles in our market search that have over 200k miles, and they all support the figure strongly. There is one at a dealer with 212k selling for like $3900, and that's a dealer price.

The reason he wants $4700 is because the car he has found is around that price, but the car he found has 150k miles and he doesn't think the mileage difference should be a big factor. He believes his maintenance basically cancels out the high miles.

[gobuffs]

$4200 is more than generous IMO.

The $3500 he spent in repairs is irrelevant.