Advice please on settlement offer from insurance co

michaelro

eschaton wrote: »

Why start at the bottom of what you would accept ?

Surely you aren't that thick ?

Obviously :rolleyes:

But if you have take 21% less than the asking price either you are desperate or the car was initially overpriced.

You don't have to accept someone's low offer, with a fairly decent car another buyer will come along soon enough.

michaelro wrote: »

Overpriced by the look of how much less you ended up selling it for...;)

50%?? I think you need to try again on the calculator.

A £5k car would be around 16-17% more than your original asking price, which I think is about right for a trader who has a lot more to risk that you.

eschaton wrote: »

£5295 v's £3550 = 49%.

Yet again you are comparing Asking Price to Selling Price.
And I'm the thick one... :rolleyes:

pompeyrich

Anihilator wrote: »

Wrong

Ad's are not given much respect by the ombudsman as it is simply an ad not a final price. Book prices are not just trade in values.

On a common car like the Clio the book values are what matters not ads which are overpriced.

My son wrote off his Corsa, the insurance based their payout on an ad in AT. It was the lowest priced car of the same spec and pretty much identical to his, before the accident!! They told me they based their valuations on realistic Autotrader prices. The car they mentioned was about £300 less than most ads but it was difficult to argue as it was available and local to us. Seemed a fair way of doing things to me.

Anihilator

pompeyrich wrote: »

My son wrote off his Corsa, the insurance based their payout on an ad in AT. It was the lowest priced car of the same spec and pretty much identical to his, before the accident!! They told me they based their valuations on realistic Autotrader prices. The car they mentioned was about £300 less than most ads but it was difficult to argue as it was available and local to us. Seemed a fair way of doing things to me.

And if the Book value was £1000 more and you appealed and then went to the Ombudsman you would win.

The Ombudsman is very clear that the important values are book values not autotrader ad's

pompeyrich

Anihilator wrote: »

And if the Book value was £1000 more and you appealed and then went to the Ombudsman you would win.

The Ombudsman is very clear that the important values are book values not autotrader ad's

And if the book price were lower? Surely the title "Glass's GUIDE" gives a clue. Why would traders be advertising cars for £1,000 less than their own "Bible" if the guide price was realistic?

Anihilator

pompeyrich wrote: »

And if the book price were lower? Surely the title "Glass's GUIDE" gives a clue. Why would traders be advertising cars for £1,000 less than their own "Bible" if the guide price was realistic?

Because they know its a horrible car and are desperate to find a mug.:rolleyes:

pompeyrich

Anihilator wrote: »

Because they know its a horrible car and are desperate to find a mug.:rolleyes:

Perhaps on a more expensive car a less popular colour or trim level could affect the price by £1,000 or more but as we are talking about lower end cars then I would say probably not. For a mainstream, older car such as a Corsa that we were interested in, or the ops Clio, a quick search on Autotrader will soon reveal what is a realistic price. Sort through the dealer speak and generally they are priced quite closely and I would guess fairly near to the trade guides..

Amanda65

Can I just say thank you please to everyone who kindly gave advice on my original thread but that I am very dissapointed at one or two somewhat rude people who appear to have highjacked the original question with their petty responses.

Anihilator

pompeyrich wrote: »

Perhaps on a more expensive car a less popular colour or trim level could affect the price by £1,000 or more but as we are talking about lower end cars then I would say probably not. For a mainstream, older car such as a Corsa that we were interested in, or the ops Clio, a quick search on Autotrader will soon reveal what is a realistic price. Sort through the dealer speak and generally they are priced quite closely and I would guess fairly near to the trade guides..

What a load of !!!!!.

Anyone paying autotrader price is being ripped off. Autotrader price is an advertised price before discounts, bartering etc. Almost every car will sell for a decent whack less than advertised.

The Ombudsman have it up on their wbesite for morons like you. Go and read it. When it comes to settlement values Guide book trumps autotrader ad price.

Now jog on and share your misinformed opinion with another mug who will make an !!!! of themselves or be out of pocket because of it.

pompeyrich

Anihilator wrote: »

What a load of !!!!!.

Anyone paying autotrader price is being ripped off. Autotrader price is an advertised price before discounts, bartering etc. Almost every car will sell for a decent whack less than advertised.

The Ombudsman have it up on their wbesite for morons like you. Go and read it. When it comes to settlement values Guide book trumps autotrader ad price.

Now jog on and share your misinformed opinion with another mug who will make an !!!! of themselves or be out of pocket because of it.

"Jog on you mug" are you Danny Dyer or some wannabe cockney gangster?

I have read the ombudsmans site and yes they do seem to take the guide prices as more realistic than ads. I would still argue that ads are a more accesable guide to us "mugs" and obviously only a starting point for a deal.

dacouch

For once Anihilator is correct, the ombudsman takes notice of the trade guide eg Glasses and Parkers etc. He normally totally ignores adverts in autotrader and the like unless it is exceptional circumstances.

The adverts in autotraders etc are regarded as prices the dealers are inviting potential customers to start haggling from and thus are generally ignored