Book price for sons car?

taylor72

thanks - i am going to gather my evidence for the exact spec car and start at the top end and work down -your story brings me hope

dacouch

taylor72 wrote: »

Fiat Punto 1.2 8v 5dr Only 176539 Miles!

£995

2001 (51 reg), Hatchback

Trade seller, distance: 54 miles

• 176,539 miles
• Manual
• 1.2L
• Petrol

• 8
• 1

5 Doors, Manual, Hatchback, Petrol, 176,539 miles, Blue Metallic, 4 Owner(s), Part service history, Power Steering, Electric Windows, Radio Cassette, Air Bag, Folding Rear Seats. £995
See all 46 cars from Southdowns Car Sales Ltd



well this car is a year older than ours with far more mileae and will accept 900 - so i think yes i will deserve a grand as i cannot replace his car for less, but ah well we will find out next week - i could be eating humble pie!

You can't just find the most expensive car you find on the internet and expect to use that as a bargaining tool. There are plenty of cars priced at masively lower than that which the Insurer will find.

They're more likely to follow the Ombudsmans guidelines and offer the price from the valuation books to start with.

Remember you said earlier that you said the car was in "Average" condition, if you take into account people tend to over estimate what condition their own car is in I'm guessing it's in poor to good condition.

Read the link from the Ombudsman, which should help you understand how the process works.

"We do not usually find advertisements for similar vehicles very persuasive. A vehicle may often be sold for less than the advertised price. And small differences in mileage, year of registration, model type etc - can significantly affect the value."

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

SteveJW

They now give six different figures

Have a look at
http://www.glassguide.co.uk/WeValueBetter/New-Values-Defined/

taylor72

i know last year i got 1500 for a y reg ford fiesta zetec with 68000 miles on clock and full service history from admiral when it was written off as someone went into the back of me based on what it would cost to pick up from dealers in area, cheapest i have seen for a 1.2 punto active 5 door 8v with sons mileage is not close to this 600 pound figure

dktreesea

You can get a free valuation from Glass. www.glass.co.uk, register, and then put in your car's rego number. It will give you trade in, private and dealer price ranges.

It's a great site. Even has a page for helping you find a replacement car. I put in up to £1000 on their used car pages and got various 2001 to 2002 cars, ranging from £800 to £1200, so I would think this is around what you would get.

(The Glassguide site is for dealers, not consumers.)

dktreesea

A couple of other things. make sure you get the tax disc off the car so you can claim back any unused road tax from the DVLA, and if you have any problems with the insurance company not wanting to pay up as per the Glass valuation, the Financial Ombudsman is great.

dacouch

taylor72 wrote: »

i know last year i got 1500 for a y reg ford fiesta zetec with 68000 miles on clock and full service history from admiral when it was written off as someone went into the back of me based on what it would cost to pick up from dealers in area, cheapest i have seen for a 1.2 punto active 5 door 8v with sons mileage is not close to this 600 pound figure

Your car was not in average condition.

I assume you never read the link from the Ombudsman, here are the relevant points.

"In most cases, we assess the market value as the retail price which the policyholder would have had to pay for a comparable vehicle at a reputable dealer, immediately before the date of the damage/theft.

This may be lower than the price at which the vehicle is advertised, as the dealer may have built in a margin for negotiation."
Assessing the value of a used vehicle is not an exact science – though we strive to be as consistent as reasonably possible. We take into account all relevant evidence:

We pay most attention to valuations given in motor-trade guides, such as Parker, Glass and CAP. These are based on extensive nationwide research.

Evidence from an independent engineer can be helpful, if available, particularly where the vehicle is not a standard one (for example, because it has been heavily modified).

Evidence from an insurer’s engineer may also be helpful, but we will need to assess the independence of the report.

We do not usually find advertisements for similar vehicles very persuasive. A vehicle may often be sold for less than the advertised price. And small differences in mileage, year of registration, model type etc - can significantly affect the value.

We do not often uphold a complaint about the valuation of a vehicle where, within a reasonable time, the insurer has offered the full retail value (not the trade value) in accordance with the main motor trade guides – unless it is an agreed-value policy."

An engineer will value the car based on it's pre accident condition so in your case is average. The engineer does not look at adverts on autotrader, they use one of the books to work out an exact value based on condition and mileage and exact model.

The book price for a dealer is circa £1150 which assumes slightly lower mileage and a dealer tends not to sell "average" cars they tend to sell good to excellent.

The price they garner from a guide for an average car is more likely to be in the range of £600 to £900.

They will send their report to the Insurers (in Admirals case tell them of any modifications they can find that are not original manufacturers). The report (Based on book value) is what Admiral will send out to you. If at this point you do not agree with the value they will ask you to provide evidence eg Autotrader adverts. You send in what adverts you find, they will then also search and find the ones I'm finding and possibly increase the offer to possibly circa £850. You might eventually be able to get upto £1000.

There are a lot of newer Punto Actives in "Good" condition for under £1000 from dealers on Autotrader.

You need to bear in mind that a recent mot and service makes not much difference to the value as these are a normal running cost of a car.

If you're paying via instalments, Admiral will deduct any remaining instalments from the amount you receive for the car. They then (According to their policy) cancel the policy with no return of premium.

It's worth noting that Admiral's definition of "Market Value" is thus

"The cost of replacing your car, with one of a similar make, model,
year, mileage and condition based on market prices at the time
of the loss. Use of the term ‘market’ in which you would normally
shop for your car e.g. retail value, will not apply if you buy your car
privately or at auction.
Non-European manufactured cars will be valued based on European
import values or the nearest British equivalent, at our discretion."

Which basically means if you purchased the car privately, they will pay the private sale price or if you bought it from a dealer they will pay the dealer price.

This is where the Ombudsman which you seem to be ignoring will help you as the ombudsman will not accept them paying you based on the channel you bought the car from.

It's well worth you reading the Ombudsmans link on written off cars as there's information you will find helpful in handling the write off.

dacouch

If you don't like the answers given on a forum, ask on a different forum and in effect get the same answers.

http://www.consumeractiongroup.co.uk/forum/showthread.php?381001-glass-s-values-anyone(2-Viewing)-nbsp

I assume I'm the abrupt one for stating the facts

Geforce

Surely the bottom line is, is that a 10+ year old Punto with Captain Kirk mileage is worth absolutely nothing... I'd snap their hand off if they offered you £500.

Tilt

Geforce wrote: »

Surely the bottom line is, is that a 10+ year old Punto with Captain Kirk mileage is worth absolutely nothing... I'd snap their hand off if they offered you £500.

Just about the same as your contribution then. OP is asking for advice, not criticism of his son's choice of car.