M3 Rep - the sunk cost build

[LivingLegend06]

Progressive's original settlement offer: $2,820.72

After detailed response on my part, the settlement offer was adjusted to: $8,340.25

I think it is a fair offer given the difficulty in assessing value on such things and within spittin' distance of my estimated value of $9-$10k. They are towing the car back to my place on their dime. I have to say that I'm pleased with Progressive on the whole.

I'll be using most of the parts for my replacement M3, especially the bulk of the interior.

I would have valued the car at more than that. How much did you buy it for if you don't mind sharing? you should get at least that much for the car considering how much you have put into it since then. Do you still have to pay to buy it back or is that included in the settlement number?

[audiquattrot]

that sounds like a very fair payout. Did you have to buy back the car, or did they just hand it back to you?

[Peterkaczynski]

oh man i feel pain for you, but the settlement is a good amount surprisingly, love the interior man

[carlb]

Also curious how insurance will pan this out

GL man, terrible thing

Progressive's original settlement offer: $2,820.72

After detailed response on my part, the settlement offer was adjusted to: $8,340.25

I think it is a fair offer given the difficulty in assessing value on such things and within spittin' distance of my estimated value of $9-$10k. They are towing the car back to my place on their dime. I have to say that I'm pleased with Progressive on the whole.

I'll be using most of the parts for my replacement M3, especially the bulk of the interior.

[carlb]

Well shit. :( If you need a hand with anything let me know; Chances are, I'm right around the corner.

Thanks!

[carlb]

To the op, Dont mean to threadjack, and yes i am a noob on THIS site guys, but can someone tell me who this Vlad guy is? I'm wondering first of all because of the crap he put this poor gentleman through but also because I have a customer of mine(I just completed a full repaint on his E30 vert) that I mentioned this site to and his response was, "oh that's Vlads site." Is or was he a part of this site in the past? Just wondering. The vert I mentioned made me fall in love with the E30 again and I bought an '89 325is before the customers vert even left my shop and now the pictures of the op's car (pre accident) have me wanting an E30 m3 lol.

This is definitely NOT Vlad's site. His membership in this forum has actually been revoked due to his poor business practices (to put it politely). Based on my direct experience with his work (much of it documented here), I cannot recommend him to you or anyone else.

[carlb]

Selling my LS swap kit and exhaust. No new information on the parting out of the Sunk Cost M3... Please be patient.

http://www.r3vlimited.com/board/showthread.php?t=307766

[NYSE30]

To the op, Dont mean to threadjack, and yes i am a noob on THIS site guys, but can someone tell me who this Vlad guy is? I'm wondering first of all because of the crap he put this poor gentleman through but also because I have a customer of mine(I just completed a full repaint on his E30 vert) that I mentioned this site to and his response was, "oh that's Vlads site." Is or was he a part of this site in the past? Just wondering. The vert I mentioned made me fall in love with the E30 again and I bought an '89 325is before the customers vert even left my shop and now the pictures of the op's car (pre accident) have me wanting an E30 m3 lol.

[Javier h]

Wow

First, sorry for your loss.

Second, the car had a salvage title from the start if I remember correctly which might explain several things regardless of what Vlad stated in the ebay ad.

I would ...

transfer everything into another E30 with a "clean" title. Given the salvage history, I am not sure how the insurance will handle that.

There are plenty of valuable pieces in there since you addressed all the issues and corrected them the right way.

Again, sorry for your loss. Finding a good body shop would be key to all this and of course a good mechanic to assist with the swap.

[dirtbag30]

dammmmmit that's rough, sorry to see that. real m3 or not i would cry after the troubles you've had. good luck in the future.

[ForcedFirebird]

^^^^ Same thing happened too my car. Had a $10k policy, the car never left my possession since I paid for the tow to my house after the accident. They came there and took pics to post on the auction site, though. They assessed the value at $1700 buy back, but since the damage was over 80% of coverage, the car now has a certificate of destruction title which means it can never salvaged, only transfer of ownership. It is going to become a track car.

Hope you don't get shafted by the insurance, you have the sale ads and proof of the price you paid, regardless of what the "book" value is, it's a unique car.

[carlb]

I haven't got a settlement offer yet. Progressive moves all their cars to the auction site. It's where they actually evaluate whether a car can be repaired or totaled. Once it's totaled the auction site puts it up (but says it ain't ready for sale). They have to wait for me to accept the settlement offer and negotiate a buyback or not. I will be buying the car back.

[freeride53]

Damn! you could have saved a bunch off of that thing!
Hope the compensated you well...

[ethirtydavid]

Also curious how insurance will pan this out

GL man, terrible thing

[MrSlacker]

https://www.iaai.com/Vehicles/VehicleDetails.aspx?auctionID=0&itemID=15822983&RowNumber=0&loadRecent=True

Sorry to see it that way. Did you insurance cover the value of the car or value of an "E" car?