Scrap Vs Salvage

Mummymoneysaver

Hello,
Just hoping for advice please, someone drove into me and my car has sadly been written off but inly cosmentic damage. To keep they are syaing my car is worth 1400 in scrap (%of car value) but if i did keep its really only worth around 400 in scrap adter some initial research
Can anyone explain the difference please? 
Thanks 

Flight3287462

Details about the car and damage and what settlement figure have they offered you.  The salvage value is usually a  percentage of the settlement figure.

Salvage valuations are quite high at the moment, you could be brave and watch for it to appear on Copart and buy it back.

During Covid I bought a 16 plate Fabia Monte Carlo for £1,800 spent £1,200 on repairs and I expect my daughter will drive it for 5-10 years.  Six months later similar with similar damage were selling for £2,800+.  I got a bargain at just the right time.

DullGreyGuy

Mummymoneysaver said:

Hello,
Just hoping for advice please, someone drove into me and my car has sadly been written off but inly cosmentic damage. To keep they are syaing my car is worth 1400 in scrap (%of car value) but if i did keep its really only worth around 400 in scrap adter some initial research
Can anyone explain the difference please? 

So they are saying if you keep the vehicle they will reduce your settlement by £1,400?
How much have they valued the vehicle at?

Insurers write off thousands of cars a month, they can negotiate much better rates from salvage merchants than you can trying to sell one car as a one off.

born_again

Common question in motoring section 👍

bris

These cars end up in places like Copart, what they are saying is if this car went to Copart (or similar) then they would get £1400 for it, its a guide but sending thousands of cars there it's probably pretty accurate.

Don't get salvage mixed up with scrap, if they sent it to the scrap yard it would make it's weight, about £150

I buy from Copart, I stick to CAT X, U. and N, yours will be Cat N, non structural. 

You will know its damage so have a look on Ebay and price the panels needed to see if its worth it or not.

Nobbie1967

Mummymoneysaver said:

Hello,
Just hoping for advice please, someone drove into me and my car has sadly been written off but inly cosmentic damage. To keep they are syaing my car is worth 1400 in scrap (%of car value) but if i did keep its really only worth around 400 in scrap adter some initial research
Can anyone explain the difference please? 
Thanks 

What car and age is it? My 2013 107 is likely to be written off and the salvage value for that is about £8-900 for Cat N.