Hi,
I wonder if anyone can help me out? I have had a G40 since 1996 and very sadly a couple of weeks ago it was written off. The insurance company have offered me £425.00, but I have a strong suspicion that this is a gross underestimation of its value. Does anyone have an idea about how much a 1992 K reg. completely unmodified G40 is worth? One of the problems I have is that all the G40s currently for sale seem to be modified to a greater or lesser extent. This one is as it was in 1992 (in terms of spec. if not in terms of condition!). The only similar one I have seen is the one advertised in Edinburgh which was in much better condition than mine.
To give you a better idea about the car:
Mileage: 154,458
Paintwork: It was VW red and therefore just about every panel had faded to various shades of pink! However, only one small rust patch under the offside rear window and rust in the groove below the window of the tailgate
MOT: Until 03/07/13
Tax: Until 30/11/13
Service history: I get it serviced by a local independent garage about every 7,000 miles.
Tyres: Two Yokahama A539 on the front with only 3,150 miles on them.
Exhaust: Brand new rear section & back box
Rear wash/wipe: Needs a new motor
Front fog lights: Needs new bulbs & glass
Interior: Very good condition
If anyone has a 'ball park' idea of how much this would have made had I sold it prior to the crash I'd be very grateful if you could let me know!
As a 'PS', once I have settled with the insurance company, I intend to buy the car back and sell it for parts, so watch this space! The car hit a curb and so the offside wheels are both damaged along with various panels etc., but the engine, electrics, interior etc. are all fine.
Thanks very much for your help with this!
Contest it. That's a lot less than market value. Difficult to say in your case but I'd reckon over £2,000.
If you're planning to break it anyway though, maybe it's worth taking the hit on the value and buying it back cheaply?
I paid £1950 for mine at 165k miles completely standard pretty much.
£425, please, ask them to show you some proof.
I simple search on here and ebay shows you wont pick one up for less that £1500 that is not hanging.
i have one for sale that is stock and has high miles at 207k, for £1700, the going rate for a decent one is about £2500-£3000
they are trying to low ball you, kick up a fuss and tell them to stop being nob heads and take their job seriously.
what insurance company is it?
you never accept their first offer anyway, they will try it on. Just show them some for sale adverts (doesn't matter if the car is sold as long as the ads aren't like 6 years old).
I reckon £2k, maybe a bit less depending on the bodywork condition.
£2000 as a minimum, I'm sure one of the founders of Club G40 would be able to value it for you officially.
And claim the remaining tax back asap!
What's the body damage like?
Had exactly the same problem with mine, some douche drove into the back of me and wrote mine off 6 weeks after getting it on the road. I was offered £400, if you like i already have a 10 page word document that i put together to fight my case. Give me your email address and i can send it over to you to go through and use how you like.
I ended up getting £1000 for mine, but told them from the very start i was keeping the car regardless, didn't pay them a penny to buy it back. Figured that made it kind of even.
Happened to stuart with elephant. Now his one had a lot higher miles and wasn't the best body work wise and I'm sure he got between 1500-2000 which was fair then.
At least 2k if it's standard I'd say.
Hi,
It has been a while since my original post, but I said that I would get back to you all once things were resolved to let you know the outcome of my insurance claim.
With the replies from this forum as part of my evidence I challenged the original insurance company valuation of £425.00 and asked them for £2000. The insurance company did in fact up the offer... to £450.00 (and I could keep the car)! So generous!
Not happy with that I contacted the Financial Ombudsman. I have just received a settlement for the full £2000.
OK, so it has taken since the crash at the end of June to get there, but I'm happy with the end result.
Big thanks for all who replied to my original post. As I said, I used that information to help support my case and I'm sure that it was made a great deal more credible by your support.
Happy Christmas!
Nice one! Quicker settlement than my claim too. Did you keep the car?