Car Valuation help

[DanGB]

Hello,

I need a bit of help valuing my car. It was recently written off, and I am trying to prove more value of the car to the Independent inspection engineers.

If I was to sell the car (before it was written off), how much would someone realistically pay to buy this car. I appreciate this is very subjective, but looking for ballpark figures.

It is a 2006 Seat Leon Sport TFSI In Pearlescent Black with 65000 miles. Good condition. no dints/dents. It seems they valued it a the book price of 4700 which is good. They then added 300 for the modifications, but they [the inspection engineers] were not aware of all the mods underneath. So total value was £5000. I know mods don't add anywhere near the value of the parts (£15K+), but I was expecting more than this.

I now have the list of declared modifications which I will pass to the Engineers. I also have a print out of a recent Rolling Road at 438HP, 440lbft Torque.

APR Stage 3+ Turbo conversion kit  - http://www.goapr.co.uk/products/stage3_20_tsi_trans.html
APR Intercooler
APR Fuel pump
APR larger Injectors
APR/Carbonio closed air intake
APR 155bar fuel rail valve
TTRS Intank pump
Intergrated engineering connecting rods.
APR Hi-flowed head. - http://www.goapr.co.uk/products/cylinder_head_20t_ea113.html
APR Runner flap delete
Snow performance Stage 2 Water methanol injection kit
APR RSC Full turboback exhaust - http://www.goapr.co.uk/products/apr_exhaust_20tfsi.html
Helix Stage 3 6 paddle Clutch with ligtened SMF
VWracing 3x engine mounts.
All wheel drive Haldex conversion
KW Variant 3 Coilovers
H&R Front and rear ARB's - stiff variety
Whitleline anti lift kit
RS3 Calipers with AP Racing 365mm floating discs. and Pagid RS42 pads.
Seat Sport BBS 18x7.5 wheels

So in conclusion, how much do you think the car is worth; ie; how much could I have sold it for? (How much would someone pay)

Many thanks.

[Steve in crete]

' not aware of all the mods' is not something to be put into print with the words insurance claim in the same sentence !  Is it too late to negotiate a figure with you retainng ownership of the wreck, that's about your only chance of getting any sensible money back by selling the parts or using them in the replacement car ?
Sorry I am sure you are well unhappy, your fault or do we not ask ?

[dazza]

Do you still have the car?

[DanGB]

' not aware of all the mods' is not something to be put into print with the words insurance claim in the same sentence !  Is it too late to negotiate a figure with you retainng ownership of the wreck, that's about your only chance of getting any sensible money back by selling the parts or using them in the replacement car ?
Sorry I am sure you are well unhappy, your fault or do we not ask ?

Hello. The insurance company were aware of the mods -(it was under a specialised modified policy), but not the inspection engineers. So there is nothing wrong on my part here.

I am retaining ownership yes, buying it back for 15% of the payout value, but i still think the valuation for the payout is too low.

[DanGB]

Do you still have the car?

Its in my possession yes.

[dazza]

As they have not taken the mods into account. Switch everything out with stock parts keep the parts and not the car.

[rosscoe63]

apologies if Ive misunderstood this but surely if you re buying back for 15% of the payout value then its in your interest to have them value it as low as possible?????

[Scottymon]

apologies if Ive misunderstood this but surely if you re buying back for 15% of the payout value then its in your interest to have them value it as low as possible?????

[DanGB]

Not quite sure why that makes sense, for this reason:

Current valuation: £5000 - 15% =  I get 4250 at the end.

Increased valuation of say £6000 - 15% = I get 5100 at the end.

  ?

[Scottymon]

I and rosscoe63 probably both thought YOU actually pay the 15% of the determined value... as it is, THEY pay you 85%.

Personally, with those amount of mods and value, I'd strip/replace and let them give you stock price.

[DanGB]

I and rosscoe63 probably both thought YOU actually pay the 15% of the determined value... as it is, THEY pay you 85%.

Personally, with those amount of mods and value, I'd strip/replace and let them give you stock price.

Ahh ok 

Well I am going to strip it anyway for parts, hence the reason for buying it back, but of course if I can get a more reasonable payout, then that would be better.

[dazza]

Like i said strip the parts out and don't buy it back.

[DanGB]

Like i said strip the parts out and don't buy it back.

The modified parts make up about half of the car, someone may get suspicious when they collect it LOL

[rosscoe63]

I and rosscoe63 probably both thought YOU actually pay the 15% of the determined value... as it is, THEY pay you 85%.

Personally, with those amount of mods and value, I'd strip/replace and let them give you stock price.

so, if thats right (which it appears to be by the OP's rationalle) and he is buying it back for 15%, that suggests by paying 15% of the value, he gets the car back and 85% of the value in £££????????? Help??? lol. 

[DanGB]

I and rosscoe63 probably both thought YOU actually pay the 15% of the determined value... as it is, THEY pay you 85%.

Personally, with those amount of mods and value, I'd strip/replace and let them give you stock price.

so, if thats right (which it appears to be by the OP's rationalle) and he is buying it back for 15%, that suggests by paying 15% of the value, he gets the car back and 85% of the value in £££????????? Help??? lol. 

Yes thats right. Currently I actually stand to get £4000 from the insurers.

So £5000 value
Minus 15% to buy the car back (£750)
Minus Excess (£250)
=£4000 insurance payout + My car back.