sadday

Here’s the problem – I’ve owned a MY06 Spec D since near new and last week crunched it damaging the corners except the front offside on armco. No mechanical damage or to the bonnet/boot/doors – just the wings and lights. The insurance co have decided it’s a Cat C write off. 7K for cash settlement or £1.5K to buy it back

So – it’s a WRX SPI PPP (320BHP) with leather interior and done about 55K miles - but looks like a standard wrx

Should I take the cash, rebuild or break it?

Discuss!

JDM_Stig

iTrader: (3)

that 7k seems a rather low value

PhilWrx100

I would rebuild it as its a spec D. Obviously if you do it will never command the same amount in resale value, but got to be worth doing even if you let someone else finish it off as a project.

Phil

MattyB1983

iTrader: (51)

7 grand seems like a low ball offer for a 2006 spec D with nice miles.
I guess that's their first offer, go back to them and say it's not enough.

Trinity

iTrader: (28)

Tell them youll accept £9 and the car back. Which would bring it more inline with true value.

Then break it. Once all the bits are sold, youll have nearly enough for a Hawkeye JDM STI, and youll appreciate that crash so much you'll be grinning

Steveobc

insurers will always low-ball you to try and pay you as little as possible to make you go away

say to them you want another one but the money they are offering will not cover it and do some homework, autotrader, subaru specialists and show the insurers the true market value of what it will take to get another, never accept their first offer as it will always be ****

GeeDee

iTrader: (2)

If it's any help, I got my insurers to go up to £7.5k net of excess last year with a £3.5k buy back after originally valuing it at £4.5k with a £1.5k buy back.

https://www.scoobynet.com/general-te...rrey-area.html

My car had done 110k miles at the time and I was advised they apply approx £100 / 1,000 miles depreciation over average so I think you have a way to go yet....

All fixed now.

The Pink Ninja

iTrader: (23)

Buy it back...Drop it at my house for £2k

Steve001

iTrader: (7)

Get em to stump up more then buy it back the gearbox is worth 1.5k :-)

blackvenom

Sorry to hear about the damage, like it's been said, prove that other cars with similar spec are selling higher, if your going go keep it, then being a cat d wouldn't put me off, just do some select upgraded and take plenty of photos as people always want to see how minor some damage was. If you break the running gear and engine would slip nicely in my classic

cookstar

iTrader: (6)

And the rest,

Andaru

I've never understood it when an insurance company offers you to 'buy back' something you already own, do they just take the £1500 off the £7000 or what?

sadday

Thanks for all your input

After a long conversation with the insurance company, I have now settled and have bought the car back for £1,600 and it’s been taken to a friend that runs a bodyshop/car repair business. Bearing in mind the damage assessment by the insurance co repairers amounted to over £9K plus vat with a swathe new parts required, it was refreshing to hear my friends opinion. He believes he can remove all the dents from the rear wings and rear bumper leaving just the front bumper, n/s wing, n/s headlight, washer bottle and pair of rear lights to replace. He’ll then re-spray the bumpers and sides of the car and return it to showroom condition

So, using second hand parts, he said to budget £1,600 plus vat for the whole job!

After a few hours on ebay, I now just need the front bumper and n/s wing to complete the parts list – suggestions please for best place for new if I can’t find used?

Whilst I understand that the resale value of the car will be impacted as it will be marked a Cat D repair job, I’m quids in on the insurance settlement so effectively, I’ve had an advance on the future sale. One key reason for going the buy/back and repair route was a bit of research showed the value of just the gearbox – I see these advertised at well over £2K plus the brakes, engine, PPP etc – if I subsequently want to sell it and find the price “depressed” – I can break it for spares and cash in!

One point in the thread asked about “buy back” – once you make a claim and the car is written off, the car is no longer your property – you take the cash offer and they take the wreck. If you buy it back, you get a cheque for the £7K - £1.5K and the car.

donny andi

iTrader: (3)

So you accepted the £7k offer...

scoobyland

Why should you have to pay the insurance company 1.5k? Rip off artists as always,

sadday

we settled at £7.5 plus £1,600 "buy back"

The Pink Ninja

iTrader: (23)

Anywhere between 21-23% buy back on most ins companies

scoobyland

because insurance companies are legalised fraudsters.

MattyB1983

iTrader: (51)

You mean £7500 minus £1600 buy back ?????
So you got a cheque for £5900 and get to keep a written off spec D ??

The Pink Ninja

iTrader: (23)

Be less than that, usually works as....Settlement figure less excess and any voluntary excess then less buy back cost...but they work the buy back price off the full amount they value the car at

Norman Dog

iTrader: (1)

If that's correct and it's only around £1700 to get back on the road, you've scored there.

Get it fixed, forge the engine and still have enough for a good holiday.

sadday

The car is repaired - £890 plus VAT for the body shop, including refrub the wheels and £1020 for parts including new front bumper and wing from Subaru. With its new tires it looks like a new car! - Quids is but would have preferred not to have crunched it in the first place.

piehole1983

iTrader: (7)

Nice one! Any pictures?

Steve001

iTrader: (7)

+1
Before and after so glad you didn't break it

jaygsi

iTrader: (46)

Yes you should of taken pictures before, to show future buyer, as when I see cat c write off I avoid.