Quote:
Originally Posted by Bob Kontak
I think the buy back is a flat % of the price they will buy the car for. No crime to ask.
M491 asking prices are well over 50 and into the 60's from a quick search.
I think Paul stands a better chance of arguing the total value is higher. If he gets relief, the buy back will probably increase.
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No M491's seem to be selling in high $50's, and anyone asking in the $60's are dreamers. The cars we've seen trading here and on Rennlist with a 5 in front of it have been low mileage collector cars, but these things are so rare (especially with a G50) that pricing is tough. The only M491 with high mileage I know of that has sold in the past year had a tough life....and trust me, based on where it sold you don't want it as a comp. $38k is too low....I'd think low to mid $40's is reasonable, but I doubt you'll find a direct comp with those kinds of miles. At that level you pass the 75% test and get to keep your car with no money out of pocket!
It's telling that the insurance company landed JUST below the threshold ($40k) on their valuation; they are out of pocket $22.5k on a salvage ($38k payoff less $15.5k buyback) or $30k on a fix. Fight it.