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Valuation of car over 20 years old.
Comments
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Have a read at what the Financial Ombudsman has to say about vehicle valuation here
http://www.financial-ombudsman.org.uk/publications/technical_notes/motor-valuation.html
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/22/issue-22-motorinsurance.htm
http://www.financial-ombudsman.org.uk/publications/ombudsman-news/66/66-vehicle_valuation_disputes.html
But however you look at it, a 20 year old Fiesta is going to be worth very little.0 -
Here's a few to give you an ideal OP, these are sold prices.
Two owner
http://www.ebay.co.uk/itm/1993-FORD-FIESTA-1-4-GHIA-SILVER-LOW-MILES-40K-tax-and-mot-/190859865954
One owner
http://www.ebay.co.uk/itm/Ford-fiesta-1993-21k-miles-immaculate-/200944255728
Three owner - poor condition
http://www.ebay.co.uk/itm/Ford-Fiesta-LX-MK3-MOT-and-Tax-/271238997811
You didn't mention the spec, if it's an RS or XR2/i expect at least double.0 -
I know the problem well. Had my well maintained Rover Montego 7 seater written off and only got £400 for it. There was no way I could get a reliable 7 seater for that silly money. Fortunately I was able to get the write-off payment, keep the car and repair it myself; I don't know if this is the case with your Fiesta ? Depends how bad the damage is. Nowadays you will also need to get it VIC checked after repairing which adds further cost and bother.0
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Cat C: This vehicle was repairable, but the repair costs exceeded the vehicle value. The insurer chose not to repair for economic reasons.
CatThis vehicle was repairable, but the repair costs were significant compared to the vehicle value. The insurer chose not to repair for economic reasons.
Not much different really but I would imagine any prefessional repair would exceed the value of a 20 yr old Fiesta e.g. just a new wing and spray was £800 on my car. Hence it will be Cat C.0 -
OddballJamie wrote: »Was the other car on the wrong side of the road and you turned into them or was it a turning lane and they drove into the back of you?OddballJamie wrote: »BTW tell the insurance about the car being one owner, it's gotta count for something.
With a policy excess as well I can see myself getting nothing.What happens if the excess is more than the value of the car.
It also has an MOT to July 20140 -
If they settle in your favour then there will be no excess to pay.
As long as you are being open about what happened then I can't see why they would settle any other way.0 -
Thanks for the advice everyone. I have been offered £500 for my fiesta.0
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littlemoney wrote: »The other car was on the wrong side of the road as it overtook me from behind as I was turning right with my indicators flashing. Does this make any difference they were on the wrong side of the road?
What happens if the driver that hit you swears black is white that you did not have your indicators on? He/she would say that you turned into him from the nearside.0 -
What happens if the driver that hit you swears black is white that you did not have your indicators on? He/she would say that you turned into him from the nearside.
Your too late to the party.
The OP has already been offered a settlement figure, Which you would of realised if you read the posts.
OP. £500 if a good offer for a 20 years old fiesta.0
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