Car value - why is age so important ?

[HERBIEMERCMAN]

yes i am sticking to my old merc, just hope mercedes maintain a good spare parts supply and the government don't get ideas about compulsory scrappage schemes. herbiemercman.

 

[HERBIEMERCMAN]

just sold my 1996 vectra GLS est. for my asking price £1,500. the new owner has got a lot of car for that amount of money. he had looked at several and they were circa £600 to £800, but could easily spend another £800 on them. my vehicle was fully restored and i had evidence for the £1,000 i had spent, not including my own labour, i enjoyed doing it.

the problem is getting prospective buyers to appreciate why you are asking double the run of the mill price. they also have to appreciate the inherant qualities a car has, ride quality, ecconomy, performance and availability of low cost parts. the vectra scores on all points.

there is no comparrison in my opinion between buying a jap or french "snot box" for 8 to 10 K, and an older, well proved vehicle. herbiemercman.

 

[Top Cat]

Well done Herbie for holding out for what YOU believed it was worth, and the buyer obviously thought so too, thereby the 2 people who matter most in this tale are now happy.

 

[S80]

Well done Herbie!

Just one footnote: the fly in the ointment could posibly be the insurance payout in the event of a write-off. I doubt any ins. co. would pay double the market rate on a mainstream car - no matter how much the owner had lavished on it.

 

[NickP]

car value

Well done Herbie!

Just one footnote: the fly in the ointment could possibly be the insurance payout in the event of a write-off. I doubt any ins. co. would pay double the market rate on a mainstream car - no matter how much the owner had lavished on it.

Absolutely right S80, I Had a 190e 2.6 which got jumped upon by a very large French lorry which ripped the front off my car. Fortunately nobody lost any blood although the laundry bill that week increased dramatically. Even the insurance assessor said" I feel very sorry for you mate, it was obviously a beautiful example but its an eleven year old car and it's worth £1500. I managed to get them to up their offer to £2000 but even so it cost me £10,000 to replace it. Moral if you have a really good "older car" don't get it wrecked.

 

[turbopete]

Absolutely right S80, I Had a 190e 2.6 which got jumped upon by a very large French lorry which ripped the front off my car. Fortunately nobody lost any blood although the laundry bill that week increased dramatically. Even the insurance assessor said" I feel very sorry for you mate, it was obviously a beautiful example but its an eleven year old car and it's worth £1500. I managed to get them to up their offer to £2000 but even so it cost me £10,000 to replace it. Moral if you have a really good "older car" don't get it wrecked.

or pay extra for insurance and get an agreed value policy where the value of the car is agreed on and thats what you get for it if the worst happens. worth it for rare or classic models

 

[Alex M Grieve]

or pay extra for insurance and get an agreed value policy where the value of the car is agreed on and thats what you get for it if the worst happens. worth it for rare or classic models

Good point TP. I had such a policy for the 129 through "Lancaster" who advertise in MB Enthusiast. Very comprehensive (includes continental motoring, breakdown and accidents here or there, and agreed value). I found it was getting very expensive but each case is different. Certainly worth considering.

 

[Rory]

or pay extra for insurance and get an agreed value policy where the value of the car is agreed on and thats what you get for it if the worst happens. worth it for rare or classic models

How does that work if it's the other party's fault, where their insurance would only want to pay market value - does your own insurance company make up the shortfall?

 

[turbopete]

not sure how it works, but as you pay extra for an agreed valueation on the car, you get that price, either way!