Cat write off

[bigwinn]

Evening

A view please- I’m looking at a fairly good spec 3.0 E85 that is cat c (now cat s)

Would you?

What’s overall impact on price and resell?

Does it impact insurance

Appreciate a view from anyone in the know

Cheers

Stuart

[mmm-five]

I think the accepted wisdom says 30-40% less than a non-cat car…due to the risk you’re taking, the potential extra to insure it (less companies will quote), and the loss you’ll also see when you come to sell it.

But even then you’d want decent documentation of what the damage was and how it was repaired…as some people would take the insurance payout, but the salvage and repair it as cheaply as possible to get it off their hands as soon as possible.

If you’re buying it from the owner who had the claim, repaired it, and subsequently kept/driven it for many miles afterwards, then it’s probably a better buy than one that’s changed hand every 6 months since it was written off 5 years ago (for example).

[bigwinn]

I think the accepted wisdom says 30-40% less than a non-cat car…due to the risk you’re taking, the potential extra to insure it (less companies will quote), and the loss you’ll also see when you come to sell it.

But even then you’d want decent documentation of what the damage was and how it was repaired…as some people would take the insurance payout, but the salvage and repair it as cheaply as possible to get it off their hands as soon as possible.

If you’re buying it from the owner who had the claim, repaired it, and subsequently kept/driven it for many miles afterwards, then it’s probably a better buy than one that’s changed hand every 6 months since it was written off 5 years ago (for example).

Crikey that much

Ok- appreciate the view, helps balance the risk

[mmm-five]

I think the accepted wisdom says 30-40% less than a non-cat car…due to the risk you’re taking, the potential extra to insure it (less companies will quote), and the loss you’ll also see when you come to sell it.

But even then you’d want decent documentation of what the damage was and how it was repaired…as some people would take the insurance payout, but the salvage and repair it as cheaply as possible to get it off their hands as soon as possible.

If you’re buying it from the owner who had the claim, repaired it, and subsequently kept/driven it for many miles afterwards, then it’s probably a better buy than one that’s changed hand every 6 months since it was written off 5 years ago (for example).

Crikey that much

Ok- appreciate the view, helps balance the risk

Well, it depends on the value a bit too.

If it’s at the lower end of the market, then 20% might be closer (at the £3-£5K range)…whereas at a low mileage, expensive end you might see the higher % (at the £10k+ range).

As I said, it would depend on the damage and the quality of the repair…and then weigh up what the lowest value you can see for the same car that’s undamaged/unrecorded.