Car Written Off - Lousy Deal from LV

RedditchResident

AdrianC said:

RedditchResident said:
Why did LV value the car at 700 below guide?

I'm going to take a wild guess at the fact it was leggier than Longleat's giraffe enclosure.

The price guides don't just give a figure for "a 57 plate diesel Eos". They give prices for different specs. They give adjustments for options. They give adjustments for mileage.

The main guides are industry-only, which means I don't have access to them (what with not being in the industry...). 
Without registering, so not having access to the fine detail - and guessing at your precise spec - Parkers give a dealer price of £1430-1660 with 140k, so a bit less with 150k.
https://www.parkers.co.uk/volkswagen/eos/coupe-cabriolet-2006/20-tdi-cr-2d/86/free-valuation/

Doesn't really help the situation of the penal farmers in the backlands of Transylvania though, does it.  Like I said, I am going on the guides LV said they use.  As someone else pointed out,  they start there and low ball to see what they can get away with.  And they are well practiced at pressure sales techniques.  As you industry boys will know better than I do.  Or rather, did.

RedditchResident

neilmcl said:

RedditchResident said:

neilmcl said:

RedditchResident said:

Oh dear.  They cornered me into accepting 1800 with 'proof' that they had a perfect replacement and offers to extend the loaner long enough for me to get cleared funds and pick it up.  They rang before 8 in the morning.  You guys from the industry will know the tactics better than me.  Over the ensuing weeks I found out the hard way that the car couldn't be replaced for 1800 and so complained.  It was in the course of correspondence that I learned they actually had a valuation of 2500 from the guides.  

I think we are starting to go round in circles here.  I am answering the same questions repeatedly.  Its clear that I am also dealing with insurance industry representatives in the main.  

And there we have it. Always comes to this when a new poster doesn't doesn't get the answers they want to hear.

  This forum has two categories of respondent, ordinary punters like me and a bunch of industry guys.  The industry guys don't want to answer on the facts.  Why did LV value the car at 700 below guide?  Their guides, not mine.  No answer.  Am I obliged to accept a car with no service history as replacement for a car with manufacturer service history?  No answer.  Am I obliged to accept a car with no warranty as replacement for a fully maintained car.  No answer.  The ordinary punters see my side of the story.   I rest my case neilmcl.  

Always the first sign when a poster has nothing to back up their argument and is merely here to rant is to start accusing fellow members of being in bed with, or employed by, the companies/industries they have an issue with. We see here it all the time, and with that I'll leave you to it.

Since you don't answer any specific questions (for obvious reasons) I am happy not to hear from you again.  

RedditchResident

GrumpyDil said:

OP 
Just one observation is that insurance companies offer settlement figures. When they do that they will offer the lowest figure they think that they can get away with. 
If you'd chosen to reject the initial offer they likely would have come back with a higher figure.
Unfortunately it sounds like you accepted the first offer so really have no comeback.
Lousy deal - possibly but they didn't do anything wrong from the perspective of an insurance company. Their job is to settle a claim for the lowest cost they can. 

That's right.  Sums it up in a nutshell.  By the time I discovered I had been stiffed it was way too late.  They do this every day of the year, a hundred times a day.  I have had one previous exposure to the whole saga in my long motoring career and this didn't happen on that occasion.  (I even elected to spare the other guy court proceedings.  I told the police I would accept the lesser sanction of driver training.  I was glad to have survived being rolled over three times.  Too soft is my problem.)   

Car_54

RedditchResident said:

neilmcl said:

RedditchResident said:

Oh dear.  They cornered me into accepting 1800 with 'proof' that they had a perfect replacement and offers to extend the loaner long enough for me to get cleared funds and pick it up.  They rang before 8 in the morning.  You guys from the industry will know the tactics better than me.  Over the ensuing weeks I found out the hard way that the car couldn't be replaced for 1800 and so complained.  It was in the course of correspondence that I learned they actually had a valuation of 2500 from the guides.  

I think we are starting to go round in circles here.  I am answering the same questions repeatedly.  Its clear that I am also dealing with insurance industry representatives in the main.  

And there we have it. Always comes to this when a new poster doesn't doesn't get the answers they want to hear.

  Am I obliged to accept a car with no service history as replacement for a car with manufacturer service history?  No answer.  Am I obliged to accept a car with no warranty as replacement for a fully maintained car.  No answer. 

The answer is that you're not obliged to do anything, as has been explained already. The insurer is obliged to pay you the value of your car, not to replace it. Finding a replacement is entirely up to you.

jimjames

RedditchResident said:

AdrianC said:

RedditchResident said:
Why did LV value the car at 700 below guide?

I'm going to take a wild guess at the fact it was leggier than Longleat's giraffe enclosure.

The price guides don't just give a figure for "a 57 plate diesel Eos". They give prices for different specs. They give adjustments for options. They give adjustments for mileage.

The main guides are industry-only, which means I don't have access to them (what with not being in the industry...). 
Without registering, so not having access to the fine detail - and guessing at your precise spec - Parkers give a dealer price of £1430-1660 with 140k, so a bit less with 150k.
https://www.parkers.co.uk/volkswagen/eos/coupe-cabriolet-2006/20-tdi-cr-2d/86/free-valuation/

Doesn't really help the situation of the penal farmers in the backlands of Transylvania though, does it.  Like I said, I am going on the guides LV said they use.  As someone else pointed out,  they start there and low ball to see what they can get away with.  And they are well practiced at pressure sales techniques.  As you industry boys will know better than I do.  Or rather, did.

I think it was raised but I don't recall seeing an answer, have you tried doing WBAC valuation with your registration, the mileage and quoting it as being perfect? It won't give a purchase price but will give you a bottom end valuation that you could sell for. I suspect that will be lower than the £1800 you've been paid.
BTW I don't work in the insurance industry or car industry nor have I ever done. I have bought and sold a lot of high mileage cars over the years so I have an idea of the valuation process.

RedditchResident

Car_54 said:

RedditchResident said:

neilmcl said:

RedditchResident said:

Oh dear.  They cornered me into accepting 1800 with 'proof' that they had a perfect replacement and offers to extend the loaner long enough for me to get cleared funds and pick it up.  They rang before 8 in the morning.  You guys from the industry will know the tactics better than me.  Over the ensuing weeks I found out the hard way that the car couldn't be replaced for 1800 and so complained.  It was in the course of correspondence that I learned they actually had a valuation of 2500 from the guides.  

I think we are starting to go round in circles here.  I am answering the same questions repeatedly.  Its clear that I am also dealing with insurance industry representatives in the main.  

And there we have it. Always comes to this when a new poster doesn't doesn't get the answers they want to hear.

  Am I obliged to accept a car with no service history as replacement for a car with manufacturer service history?  No answer.  Am I obliged to accept a car with no warranty as replacement for a fully maintained car.  No answer. 

The answer is that you're not obliged to do anything, as has been explained already. The insurer is obliged to pay you the value of your car, not to replace it. Finding a replacement is entirely up to you.

Indeed.  And by agreement that is not possible. 

RedditchResident

jimjames said:

RedditchResident said:

AdrianC said:

RedditchResident said:
Why did LV value the car at 700 below guide?

I'm going to take a wild guess at the fact it was leggier than Longleat's giraffe enclosure.

The price guides don't just give a figure for "a 57 plate diesel Eos". They give prices for different specs. They give adjustments for options. They give adjustments for mileage.

The main guides are industry-only, which means I don't have access to them (what with not being in the industry...). 
Without registering, so not having access to the fine detail - and guessing at your precise spec - Parkers give a dealer price of £1430-1660 with 140k, so a bit less with 150k.
https://www.parkers.co.uk/volkswagen/eos/coupe-cabriolet-2006/20-tdi-cr-2d/86/free-valuation/

Doesn't really help the situation of the penal farmers in the backlands of Transylvania though, does it.  Like I said, I am going on the guides LV said they use.  As someone else pointed out,  they start there and low ball to see what they can get away with.  And they are well practiced at pressure sales techniques.  As you industry boys will know better than I do.  Or rather, did.

I think it was raised but I don't recall seeing an answer, have you tried doing WBAC valuation with your registration, the mileage and quoting it as being perfect? It won't give a purchase price but will give you a bottom end valuation that you could sell for. I suspect that will be lower than the £1800 you've been paid.
BTW I don't work in the insurance industry or car industry nor have I ever done. I have bought and sold a lot of high mileage cars over the years so I have an idea of the valuation process.

No idea what WBAC is.  As I already said, the guides used by LV are the ones in play here.

angrycrow

Op you say no one has justified why LVs valuation is correct. I believe you will find several people including myself have done so with reference to actual cars for sale. You appear to have chosen to ignore those posts because they do not align with your moral crusade against LV. 

Guides are just that guides, the clue is in the name. They can be subject to adjustment up and down if justified. 

Your car may have full service history but it also has 150000 on the clock and was 13 years old so approaching the end of its serviceable lifespan based on averages. A stainless steel exhaust adds nothing to the value as the car needs an exhaust to be legal.

Given the age and mileage of your car there is no entitlement to any warranty beyond the statutory entitlement provided by all car dealers. In fact there would never be an entitlement to the cost of a warranty full stop.

I am sorry you have unrealistic expectations for your car. I could offer some very useful and constructive advice on your uninsured losses but I doubt you would listen so I won't waste my time which like everyone on the forums is given freely to try and assist. 

born_again

@RedditchResident
So just what was the damage?
Given the perceived value of the car by the Ins co. And your love of the car, given how you have looked after it.
If the damage is just cosmetic (damaged panels) then buy it back, get it repaired and carry on as before.

Failing that have a look at peugeot CC's. I've had 2, 206CC &  207CC. Totally enjoyed both. Prices tend to be more realistic.
On Autotrader
£1695 gets you a 207CC 09 plate 94K 1.6 HDi FAP Sport 2dr Diesel

RedditchResident

angrycrow said:

Op you say no one has justified why LVs valuation is correct. I believe you will find several people including myself have done so with reference to actual cars for sale. You appear to have chosen to ignore those posts because they do not align with your moral crusade against LV. 

Guides are just that guides, the clue is in the name. They can be subject to adjustment up and down if justified. 

Your car may have full service history but it also has 150000 on the clock and was 13 years old so approaching the end of its serviceable lifespan based on averages. A stainless steel exhaust adds nothing to the value as the car needs an exhaust to be legal.

Given the age and mileage of your car there is no entitlement to any warranty beyond the statutory entitlement provided by all car dealers. In fact there would never be an entitlement to the cost of a warranty full stop.

I am sorry you have unrealistic expectations for your car. I could offer some very useful and constructive advice on your uninsured losses but I doubt you would listen so I won't waste my time which like everyone on the forums is given freely to try and assist. 

So to be clear, you say I am obliged to accept a car with no service history as replacement for a car with a full service history.  Yes or no would be good.