Can I sell my Cat C write off.............

littlebigjon

.....even though the insurance company are coughing up?

My daughter managed to damage the engine of her 12 year old Golf beyond economical repair. I thought about salvaging it myself, getting a working engine from another write off and paying to have it put in, but decided against.
We haven't got a settlement yet but the car was insured fully comp and the insurance company agree it was accidental damage. So they will be paying something after the excess is taken into consideration of course. We expect to get back about £500+.

For various reasons the insurance company have already agreed to transport the car where i want it FOC. Everything but the engine is in pretty good nick, it had only just passed its MOT.

So what's to stop me scrapping the car and getting another couple of hundred quid?

Foxy-Stoat_3

Nothing, if you get the agreement from the insurance company, as it will be their car as she is claiming off her insurers.

You will more than likely have to pay the salvage value.

Not sure that claiming for a 2002 Golf on her insurance for a failed engine was the best way forward, but hey ho.

mad_rich

Yep. Check what the scrap value is before you commit.

You'll have to buy it back off the insurers

OnanTheBarbarian

If you want to retain the car, they will just offset the "salvage value" from the write off payment.

Just make sure it is worth while doing before agreeing to it.

forgotmyname

Accident damage caused the engine to fail? What happened?

Are they writing it off? If so the car will belong to them unless they offer you the salvage which you need to pay unless they deduct it from the payout.

littlebigjon

Thanks.
There's always a story behind the story Foxy-Stoat. Ordinarily i wouldn't have bothered with the insurance and taken the hit, but it's not my money it's hers (which she borrowed from her father). I'm actually her step father.
After having paid for the insurance and tax myself (part of a multi car policy), and getting the best quote for getting the car back on the road of £1000+ which i would have to pay also, i had to throw in the towel.
I'm just trying to get the best deal for her. Scrapping the car and not going through the insurance would leave her a few hundred pounds short (and still without a car) which for her is a lot at the moment.

Unfortunately, forgotmyname, she drove over a bump of some sorts and ripped open something underneath causing all the oil to drain. Oh, and continued to drive it for a while. The story is a bit vague.

So, hey ho, Dad (or step Dad i should say) is once again there to pick up the pieces so to speak.

InsideInsurance

Most insurers are happy for you to keep the salvage but will deduct the value of the salvage from the settlement cheque. Insurers often have fixed deals with salvage companies where they get x% of the total loss for all but the rarest of cars.

Inevitably they get a good deal with the level of their buying/ selling ability and so you may find that the amount they want for you to keep the salvage isnt cost effective

Nodding_Donkey

Don't worry, they'll get their £500 back from you in increased premiums.

atrixblue.-MFR-.

depending on engine code these golf engines are pretty cheap to pick up from salvage yards. approx. £260-400 would see a long block on a pallet possibly delivered if you found one in a local yard for a 12 pack of beer ontop. all youd have to do is swap over anxialliaries fit it in and its back on the road probably for the cost of excess of the insurance and increased premiums over 5 years.


As you say this is not what she wanted to do, although I think its crazy, that's her decision.


The cost of salvage plus excess and premium deduction for the rest of the policy, I don't think it would be worth buying it back to scrap whole. To maximize your money from it, would be stripping it to pieces and selling the parts, Ecu wiring looms injectors, inlet manifold, engine bay plastic trims, wash bottle, bumpers, lights, interior, rubber door seals etc etc etc, all removed and sold on gumtree or auction sites, then weight it in for the stuff you cant be bothered to get off without getting dirty and oily and greasy. easier stuff you can remove with a basic tool set I would remove and sell off, putting the money aside till its all gone.

forgotmyname

Insurance are paying out on that? You may have been a few hundred down by not claiming but have you factored in the increased premiums because this will need to be declared for upto 5 years?