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NuckingFuts

540i Touring Auto sale/purchase prices

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1 hour ago, NuckingFuts said:

 

Ideally, that would be the perfect scenario. 

 

I don't know what the impact of a cat d would be to my insurance but if the premium went up by say 10%, that wouldn't be too bad. Then i can plan what to do with any potential payout. 

 

Cheers

NF aka Deepan

You could discuss a new quote with your insurer based on car been Cat D and see if premiums will be affected.

3K isnt a lots concidering that you pay half of that for a standard respray without accident damage.

 

Did you look online for people breaking E39 of same color to see if you can source replacement panels? 

You could find decent panels to replace your damaged ones with minimum paint required.

 

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Just now, amazighman said:

You could discuss a new quote with your insurer based on car been Cat D and see if premiums will be affected.

3K isnt a lots concidering that you pay half of that for a standard respray without accident damage.

 

Did you look online for people breaking E39 of same color to see if you can source replacement panels? 

You could find decent panels to replace your damaged ones with minimum paint required.

 

 

£1500 for a standard respray? I doubt that. a proper respray job, going back to bare metal and acid dipping is in the region of £7,000-£10,000 depending on the car and cost of the paint. My E30 was £6500 when i did it a few years back. 

 

£1500 sounds like an over the top jobby or an ok-ish job if you do the strip+prep yourself. 

 

I've sourced a 2nd hand door+wing from a pre-facelift 540i saloon, so once i collect them next weekend, i should have a better idea of whether the insurance will be footing the repair bill, or paying out a lump sum for a cat d (or N as it's now known) 

 

From people i've spoken to and read on forums and google, most if not all, have said insurers don't bat an eyelid with a cat d, and there's a possibility to pay Autolign an inspection fee, to have the cat d marker removed from the HPI (cat d / N isn't recorded on the log book/V5) just depends whether it's worth doing it. 

 

Just twiddling my thumbs now, as i have two quotes, about 6 adverts for other 540i's for sale, and waiting for the named driver to speak to the insurer and give his version of events, and for them to watch my dash cam footage. 

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10k if you are restoring a 1960s rare Ferrari then Yes by all means.

An E39 at best i would just remove bumpers and trim , sand down any damaged paint, mask, key the good paint and spray....most go for that , in fact my mate back home owns a body shop and this is a very common practice to refresh the paint in countries where sun damage is high, new paint last for years.

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13 minutes ago, amazighman said:

10k if you are restoring a 1960s rare Ferrari then Yes by all means.

An E39 at best i would just remove bumpers and trim , sand down any damaged paint, mask, key the good paint and spray....most go for that , in fact my mate back home owns a body shop and this is a very common practice to refresh the paint in countries where sun damage is high, new paint last for years.

 

 

I'd rather do it properly. Sanding, masking and painting then means you can tell the difference between the old/new paint. Rather have it done by removing whole panels, and a full strip and paint. In this case we would use new panels from bmw. Thankfully the bodyshops I know and have used in the past work on classic prestige marques all day long and their work comes highly regarded. 

 

Thankfully I've just had a call from Admiral (3rd parties insurer [and mine]) and the named driver has accepted liability. I'm not going through an accident management company for any of it, so they're waiting on me to provide quotes so their engineer can assess the damage and repair costs and go from there. 

 

Cheers

NF aka Deepan 

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Does anyone know, 

 

If I take a "Cash in Lieu" settlement, if that's subject to income tax when it lands in my bank account? 

 

Cheers

NF aka Deepan

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No reason why it should be as it is not "earned" income and would in any case be offset by the cost of repairing/replacing you car. If you are self employed you may need to declare it if you are going to claim the repair/replacement costs as a business expense.

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27 minutes ago, NuckingFuts said:

Does anyone know, 

 

If I take a "Cash in Lieu" settlement, if that's subject to income tax when it lands in my bank account? 

 

Cheers

NF aka Deepan

 

No; it's a payment to you as in a reimbursement, so not tax applicable etc 

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1 hour ago, coolhand9 said:

No reason why it should be as it is not "earned" income and would in any case be offset by the cost of repairing/replacing you car. If you are self employed you may need to declare it if you are going to claim the repair/replacement costs as a business expense.

 

1 hour ago, d_a_n1979 said:

 

No; it's a payment to you as in a reimbursement, so not tax applicable etc 

 

Thanks Gents. 

 

I'm not self-employed so i won't have to declare anything to anyone, although my 'accountant' (thus named the father) has already had a hissy fit about me having an accident, my fault or not, despite him having had more incidents than me in the last 10 years. 

 

My quotes so far have been between £2600 - £3000 and I'm waiting for one from Phil @ CPC and One from Sytner Mini Slough. 

 

Cheers

NF aka Deepan

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4 minutes ago, amazighman said:

Will you get a cash settlement in advance or they require invoice for the work done before they pay?

 

That is a question I'll have to ask once I send them over all of the quotations. When i said that I'm pedantic about who works on the car and will only use specific people to complete the necessary work, they didn't bat an eyelid and said that while there may not be any lifetime guarantee for the work as it's not their repair centre, I'm free to use any approved repair centre to do the work. 

 

I'm assuming that the stipulation for "approved repair centre" goes out the window once a cash settlement is offered/taken; However, as the suspension hasn't been stripped and inspected then all of the quotations have stipulations that the figure could increase upon inspection of those elements. If they take that into consideration and offer for example £3000 + X (where X is their estimate of what it would cost to replace those parts) then it wouldn't be so bad and I can get it all done at my convenience. 

 

Cheers

NF aka Deepan

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Quote from Sytner Mini Slough came to almost £4000. Just waiting on Phil @ CPC. Hoping to get a decent enough payout that I can use some of the cash towards fixing some lingering issues from the last service/mot while it's in the garage. 

 

I'll be sending them over by 9am tomorrow, so hope Phil pulls his finger out. 

 

Cheers

NF aka Deepan

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If you get a cash advance then you could minimize the labour cost by at least removing the damaged panels before sending the car to the paint shop.

Suspension work can be an easy diy unless major damage has occurred, even in that case plenty of broken E39s to get big bits from like subframe assembly if needed

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3 minutes ago, amazighman said:

If you get a cash advance then you could minimize the labour cost by at least removing the damaged panels before sending the car to the paint shop.

Suspension work can be an easy diy unless major damage has occurred, even in that case plenty of broken E39s to get big bits from like subframe assembly if needed

 

Yep, already got plans and parts in place. They just need confirmation and collection. 

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On 6/25/2018 at 8:44 AM, NuckingFuts said:

Who knows what he was doing? I wasn't sat in the car with him, nor do i know his situation or him as a person, i'm not a fan of white van drivers in general, but out of the car he seemed like a decent chap, and knew he was in the wrong. without the damaged caused by hitting my car, his van had no other scratches or dents that i could see which is unusual for a 5 year old van. 

Very noble of you and refreshing to read.

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5 hours ago, sshooie said:

Very noble of you and refreshing to read.

 

Thanks SShooie, 

 

I don't know his situation to be able to question his frame of mind at the time of the incident, nor do i know him as a person to be able to say if he's a prat all the time, drives like a cock all the time or if he's one of the rare down to earth white van men. 

 

When we both got out to look at the damage, he asked if i was ok, and admitted fault, he offered to pay for it, although i don't think he knew (neither did i to be fair) what the cost would be to do the job properly (new panels etc) 

 

I would hope other people would treat me at face value, and i would hope to be calm should i ever be in that situation (or the other side) - touch wood i don't - but nobody can predict what happens in 5 minutes time, let alone when you'll be in another accident. 

 

at the time, neither of us were hurt, and we could both continue on our way once we had each others relevant details. 

 

shit happens, Life's a bitch, just got to put ones big boy/girl/person's pants up and get on with it. if one needs help to do that, then ask for it. 

 

Does anyone have any idea what the cost of a new wishbone/ball joint/subframe bush/laser alignment and estimated labour time would be to fit all new components? 

would it be ok to just do the one corner, or would you do whole front or whole car? 

 

Cheers

NF aka Deepan

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9 hours ago, NuckingFuts said:

 

Thanks SShooie, 

 

I don't know his situation to be able to question his frame of mind at the time of the incident, nor do i know him as a person to be able to say if he's a prat all the time, drives like a cock all the time or if he's one of the rare down to earth white van men. 

 

When we both got out to look at the damage, he asked if i was ok, and admitted fault, he offered to pay for it, although i don't think he knew (neither did i to be fair) what the cost would be to do the job properly (new panels etc) 

 

I would hope other people would treat me at face value, and i would hope to be calm should i ever be in that situation (or the other side) - touch wood i don't - but nobody can predict what happens in 5 minutes time, let alone when you'll be in another accident. 

 

at the time, neither of us were hurt, and we could both continue on our way once we had each others relevant details. 

 

shit happens, Life's a bitch, just got to put ones big boy/girl/person's pants up and get on with it. if one needs help to do that, then ask for it. 

 

Does anyone have any idea what the cost of a new wishbone/ball joint/subframe bush/laser alignment and estimated labour time would be to fit all new components? 

would it be ok to just do the one corner, or would you do whole front or whole car? 

 

Cheers

NF aka Deepan

Deepan, you sound like a thoroughly decent chap and I'm glad that things appear to be going in the right direction for you, in other words getting sorted, after this accident.  

 

Copy your query above into the tech section. Can't give you any idea on cost but I'd say that when it comes to alignmemt and steering/suspension components, both ends of the axle should be addressed as a minimum. Laser alignment, from my experience, covers all four corners. If it's never been done, the car would probably benefit from it.

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1 hour ago, Loadmaster said:

Deepan, you sound like a thoroughly decent chap and I'm glad that things appear to be going in the right direction for you, in other words getting sorted, after this accident.  

 

Thank you kind sir. 

 

1 hour ago, Loadmaster said:

Copy your query above into the tech section. Can't give you any idea on cost but I'd say that when it comes to alignment and steering/suspension components, both ends of the axle should be addressed as a minimum. Laser alignment, from my experience, covers all four corners. If it's never been done, the car would probably benefit from it.

 

Thanks, I've had a look on eBay, and looks not too be too dear, front axle parts for two corners seem to be less than a couple of hundred. 

 

I'll be trying Phil again one last time this morning, and then will be sending over the quotes to them no later than mid-day. Their email security will prevent them from viewing the email of quotes before Monday at the earliest.

 

I do need to call them today as i specifically asked for an estate courtesy/hire car however the Enterprise branch they decided to send the job to can't get hold of one, and offered me a saloon or an SUV crossover. I'll be asking the insurance to hand it over to a closer and larger branch with a wider selection. 

 

I'll also be letting them know that i would be happy to take a cash in lieu settlement and get the work done myself, at my convenience. If they want to give me a hire car for the time it's in the garage, all well and good, otherwise i'll also be asking for cash in lieu for that as well. 

 

I've also had issues with my neck, shoulder and arms and legs. It's been getting progressively worse since Friday night, two days after the incident. The painkillers i'm already on for my Crohn's have been masking pain and discomfort but with me being almost unable to move since yesterday morning, it's not looking good. it may be unrelated, but it's left me somewhat perplexed. 

 

I'll update this thread when I get more information. 

 

Cheers

Deepan aka NF

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Quick update, just spoke to Phil (so hard to get hold of him at the moment, as he's super busy and moving house at the same time). 

 

He's just doing the school run right now, and as soon as he's back, its the first thing he will be doing before he gets down and dirty. 

 

Fingers crossed for 9am but it will be some time this morning. 

 

Cheers

NF aka Deepan

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So a small but significant update, 

 

All the quotes had been submitted week before last, and the independent assessor came out and took some photos. He came back today, 6 days later, to quote £2700 and some shekels to repair the visual damage, it would obviously be open ended due to the need to assess the suspension. 

 

The assessors report, as above stated that the cost of repairs were ~£2700. They have come to the conclusion that the market value of the car is £3300 without the current accident damage. This is find suspect, due to current 540i Touring values, so again, all purchase and sale numbers would be greatly appreciated. 

 

I put the current market value at about £5000-£6000 as mine has a complete service history, every stamp at every interval and in between. Every receipt all in a folder. It has ~126,000 miles on the clock, has an LPG conversion, extendable load floor in the boot, is a pre-facelift, non-vanos M62, which runs superbly. there are a couple of scuff marks, but no rust in any of the usual places. It also has a tow bar attachment. it desperately needs a clean, but aside from that, I just don't see how they could have come to such a low value, with the cars that are on the market at the moment going for £5000+ 

 

I'm going to be submitting all the research I have so far, and as the assessor can't be reached today, is on annual leave tomorrow, it will be Monday before they can get him to look at anything again. 

 

Is there any advice on how to proceed from here?

 

Essentially, I don't mind if they keep the Category N on there, as it can be removed, but i just want a fairer valuation for my car. 

 

I would be happy with £5000 and the car, but at this point, I would think that they wouldn't categorise the car, as the thresholds would have moved, in terms of cost of repair to market value of vehicle (Cat N being cost and hire car are 60-70% of the total value of the vehicle).

 

Again, it would be greatly appreciated if people can send me the prices they have listed their cars for and/or the prices they have paid for their 540i Tourings, so that i can submit as much evidence to them as possible. 

 

Thanks

NF aka Deepan

 

 

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IMO

 

Issues with stuff like this is that the value you place on it is what you think it's worth, but not what the market states what it's worth!

 

It's a hard game to play; but they'll always go off market value and not personal value!

 

IMO I don't think you'll get anywhere near what you think it's worth and I feel it'd make more sense to get as much as you can and then go for a buy back; if that's possible and then either repair it or break it for parts and recoup most of your £££ that way

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47 minutes ago, d_a_n1979 said:

IMO

 

Issues with stuff like this is that the value you place on it is what you think it's worth, but not what the market states what it's worth!

 

It's a hard game to play; but they'll always go off market value and not personal value!

 

IMO I don't think you'll get anywhere near what you think it's worth and I feel it'd make more sense to get as much as you can and then go for a buy back; if that's possible and then either repair it or break it for parts and recoup most of your £££ that way

 

Dan, 

 

That's what i'm trying to get at. while my valuation may be on the high side, and implies a perfect car without blemishes, which mine isn't, but it is certainly worth more on the open market than just £3300. That valuation is way too low for the current market value and other cars that are on sale at the moment. 

 

It will 100% be repaired, and I would have replaced the wing today, but I don't have the correct size torx for the bolts along the top. Once I purchase them, then I can get started. 

 

If people can send me their sale/purchase details, it would be appreciated. 

 

Thanks

NF aka Deepan

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When you look at ebay i'd say 5k was strong money. not sure what your miles are but a pre-facelift se isn't going to be the most desirable esp when you can see a reasonable looking sport albeit with a few miles at £2200

 

https://www.ebay.co.uk/sch/i.html?_from=R40&_trksid=m570.l1313&_nkw=540i+touring&_sacat=0

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1 hour ago, NuckingFuts said:

 

Dan, 

 

That's what i'm trying to get at. while my valuation may be on the high side, and implies a perfect car without blemishes, which mine isn't, but it is certainly worth more on the open market than just £3300. That valuation is way too low for the current market value and other cars that are on sale at the moment. 

 

It will 100% be repaired, and I would have replaced the wing today, but I don't have the correct size torx for the bolts along the top. Once I purchase them, then I can get started. 

 

If people can send me their sale/purchase details, it would be appreciated. 

 

Thanks

NF aka Deepan

 

TBH pal; personally I feel you're flogging a dead horse

 

It's in the insurers interests to give you as little as possible!

 

See if you can get a few more £hundred out of them and leave it at that, otherwise you're gonna go round in circles for what is, an old car and not top spec at that, no matter what condition or service history (that means nothing to this case unfortunately)

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i said in the very first post they would write this off .. there was no way Admiral would value an E39 other than that market value .. personally i feel even £3300 is tall money for one ... they are looking to write this off let you keep the salvage and give you a market based figure

 

Unless it is truly original , never welded  ( or signs its coming ) big spec i cant see the £5000 Value ..this is what Admiral are looking at and i guess the whole eco system , electric car revolution ( ie any chance to get rid of a guzzler )  .. yes you may see some advertised at that but they are not selling at that

 

Sounds harsh? maybe but i am just realistic ( I m thinking of my own 02 530d manual sport touring with decent spec in great condition .. can it really be worth 4000 less that a V8? )

 

Take what you can get to get it back to where it was with maybe a bit left over and move on so you don't have the hassle in your life

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