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  • FIRST POST
    • a_wright
    • By a_wright 20th Nov 17, 4:44 PM
    • 3Posts
    • 0Thanks
    a_wright
    6% knock off valuation
    • #1
    • 20th Nov 17, 4:44 PM
    6% knock off valuation 20th Nov 17 at 4:44 PM
    I am negotiating a claim for total loss of my car.

    Now they have said that they calculate an average based on examples from autotrader, and then knock off 6% from that number to get a valuation due to 'potential negotiation'.

    It was my understanding this is no longer a valid approach as internet adverts mean dealers don't get away with this sort of mark up on cars and generally are much less prepared to negotiate these days.

    Is this an argument I can make with the insurers or is it actually a valid point?

    Any help or advice would be very gratefull received.
Page 1
    • tasticz
    • By tasticz 20th Nov 17, 5:22 PM
    • 302 Posts
    • 84 Thanks
    tasticz
    • #2
    • 20th Nov 17, 5:22 PM
    • #2
    • 20th Nov 17, 5:22 PM
    What company are you with? My insurance company wouldn't do this as their policy was to go with parkers/cap price.

    Ask them if you can you submit the adverts from which the average is taken?? If yes, just submit higher priced cars...

    Can you give us the make/model/year of your car? How many registered keepers? What about service history (full, partial or none)? And how much you think your car is worth.


    Or make a complain on the basis that we are british and we do not haggle - we pay face value??
    • rs65
    • By rs65 20th Nov 17, 6:59 PM
    • 5,294 Posts
    • 2,510 Thanks
    rs65
    • #3
    • 20th Nov 17, 6:59 PM
    • #3
    • 20th Nov 17, 6:59 PM
    Have a read

    http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html


    We don't usually find adverts helpful to judge a vehicle's value, because the selling price usually turns out to be lower.
    • dacouch
    • By dacouch 20th Nov 17, 7:42 PM
    • 20,290 Posts
    • 12,532 Thanks
    dacouch
    • #4
    • 20th Nov 17, 7:42 PM
    • #4
    • 20th Nov 17, 7:42 PM
    Are you claiming directly from your own Insurer eg paying your excess or through the other Insurer / via a claims management company?

    As RS as shown you, your own Insurer should not be using adverts but the "Retail" price from the price guides which are generally higher than adverts.

    This only applies if you are claiming directly from your Insurer
    • TadleyBaggie
    • By TadleyBaggie 20th Nov 17, 9:36 PM
    • 2,474 Posts
    • 1,806 Thanks
    TadleyBaggie
    • #5
    • 20th Nov 17, 9:36 PM
    • #5
    • 20th Nov 17, 9:36 PM
    I had a total loss insured with Aviva, and they certainly told me that their valuation was based on Autotrader.
    • a_wright
    • By a_wright 20th Nov 17, 11:01 PM
    • 3 Posts
    • 0 Thanks
    a_wright
    • #6
    • 20th Nov 17, 11:01 PM
    • #6
    • 20th Nov 17, 11:01 PM
    I'm with aviva and yep they took my 5 examples from auto trader which they also use tool an average and then knocked off 6%

    Which may well be fine for most cars but mine is a 61 reg low mileage abarth 500 and I don't believe for a second there's any haggle room with these cars they are rare and popular they will go for asking price!

    Is that a good enough argument for me to make?
    • a_wright
    • By a_wright 20th Nov 17, 11:04 PM
    • 3 Posts
    • 0 Thanks
    a_wright
    • #7
    • 20th Nov 17, 11:04 PM
    • #7
    • 20th Nov 17, 11:04 PM
    See my reply below to the other guy who was with aviva.
    • dacouch
    • By dacouch 21st Nov 17, 6:12 AM
    • 20,290 Posts
    • 12,532 Thanks
    dacouch
    • #8
    • 21st Nov 17, 6:12 AM
    • #8
    • 21st Nov 17, 6:12 AM
    I'm with aviva and yep they took my 5 examples from auto trader which they also use tool an average and then knocked off 6%

    Which may well be fine for most cars but mine is a 61 reg low mileage abarth 500 and I don't believe for a second there's any haggle room with these cars they are rare and popular they will go for asking price!

    Is that a good enough argument for me to make?
    Originally posted by a_wright
    What do the price guides (Not adverts) say your car is worth based on the "retail" value?

    You need to read the link RS provided as it will help you, the Ombudsman does not regard adverts as the correct way to value a vehicle and will correct Aviva if you draw it to the Ombudsman attention (Assuming the price guides are in your favour)
    • ConMan
    • By ConMan 21st Nov 17, 1:46 PM
    • 15 Posts
    • 2 Thanks
    ConMan
    • #9
    • 21st Nov 17, 1:46 PM
    • #9
    • 21st Nov 17, 1:46 PM
    An insurer can value the vehicle how they want. If you dispute it and take it to FOS, they'll likely use Glass, Cap and Parkers as per their website.
    • maddogb
    • By maddogb 22nd Nov 17, 11:15 AM
    • 466 Posts
    • 73 Thanks
    maddogb
    this worked for me although it was a long fight


    Consumer Rights Act 2015


    69 Contract terms that may have different meanings
    (1)If a term in a consumer contract, or a consumer notice, could have different meanings, the meaning that is most favourable to the consumer is to prevail.




    Your policy is a consumer contract and must comply.
    • iknowalittle
    • By iknowalittle 1st Dec 17, 1:30 PM
    • 1 Posts
    • 0 Thanks
    iknowalittle
    It depends what you want out of this. Your car insurance is an indemnity policy, you are being protected from loss; but you cannot profit from it.
    If you want an identical car to the one you had then you can define the specification (colour, mileage, age, condition, service history and some options) and ask the insurance company to find one for you. You are ultimately paying you premium to be put back to the identical position you were before.


    If you want a different car then industry price guides are what they will pay (Parkers, Glass etc.)


    Autotrader prices are asking prices and not selling prices and so knocking a small amount off is reasonable. A 6% reduction shouldn't be too hard - its £600 on a £10,000 car. If the dealer won't do that then walk away and go elsewhere.
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