[Es2] determining the value of the e//S2 :VSMail mx3
Jimmy at texasbankers.com
Wed May 9 09:49:33 EDT 2007
This is a tough nut to crack and shows the importance of having a declared
value type insurance on your conversion car.
The obvious problem is that not all conversion cars are created equal. To
your request - what exactly is a complete eS2 conversion? Do you mean
literally complete? How many of those cars are there? Most conversions make
compromises long before achieving completeness (automotive Buddhism?),
therefore, their Bill Of Sales would be meaningless to an adjuster. The
thing that I love about our conversions - the fact that they are so
individualistic and unique - is the very thing that makes it difficult to
assign a value to them, based on the market value of other cars.
The second problem is what we all know in our hearts to be true - in most
cases, these conversions do not materially add to the value of our cars and
by no means does the sum of the parts equal the whole (value). Most of the
conversion cars I have seen for sale, seem to stay on the market for a long
time. That is a function of the price. Also, the cars are 17 years old or
so, which means getting a bank loan for one is difficult at best. That means
whatever the asking price would also likely have to paid in cash. The market
for these cars is quite small.
Now, to your particular issue, Ben: what do you think the amount of damage
is to your car? I'm asking because it looks like you could take their offer
and buy the car back (usually 10%, but YMMV) and have enough to fix your
car. $5400-$540=$4860. Not bad. The only issue would be with the title. I
have done this with companies that never did anything to the title, but I
have had other friends who have done this where the insurance company
insisted that they issue a salvage title. You obviously don't want that.
Okay, I don't really know anything, but these were thoughts off the top of
my head. The truth is that I haven't been following the Audi world very
closely for awhile, so who knows, maybe our cars are like gold these days.
Chime in and educate me.
Good luck, Ben.
>I'm trying to determine the value of my e//S2 for insurance purposes.
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