Insurance want to write off my beloved Z4 - ridiculous value

H

Honeypip

New member
 Sutton Coldfield
A massive Veolia waste lorry hit the driver rear side of my beloved Z4 and the insurance want to write off my car :mad:

I have a 2005 Z4, 2.2i, automatic, excellent condition and only 51000 miles - it's only done 10000 miles in the last 10 years I've owned it. The issues are: -

1. They've given a value of £3228, which is far too low. I cannot even find a car with similar specs up for sale in the UK. AI search summarised by calling my car a unicorn! Apparently the Z4 2.2i straight-six is a relatively rare model, produced for only a short period before discontinuation in 2005 and with far lower production numbers than the more common 2.5i and 3.0i variants. Automatics command a higher price and are also rarer than manuals. Well-preserved, low-mileage examples are scarce and can command values above standard guide prices. The AI suggested values are between £4600 - £6500 but I can't prove it. I only found 2 examples on Autotrader and none of the specs are even close to mine.

2. I want to keep my car - the damage is amazingly little, non-structural and I have a private quotation for repairs that I'm more than happy with. I don't want it written off and all the faff of buying it back - what can I do?

Can any of you kind people offer me any sage advice as to the actual value and how to deal with the insurance company please?

Many thanks
Lyn
 
AFAIK market value is given in publications like Glasses Guide..

Most of those ‘book’ values are way below what well intentioned / motivated sellers are aiming for AT…

If it’s light damage and you love the car accept the payoff on the basis you buy back the written off car at it’s much reduced value…imho
 
Honeypip said:
Apparently the Z4 2.2i straight-six is a relatively rare model, produced for only a short period before discontinuation in 2005 and with far lower production numbers than the more common 2.5i and 3.0i variants.
Click to expand...

FWIW, that's not the flex AI thinks it is. It was rare because it was a relatively pointless engine when the 2.5i was a better option for little to no extra cost in fuel or insurance. It was never a favoured engine in the 3 series lineup as it fell between the stools and, by 2005 time, the new E90 3-series equivalent was a 4-pot.
 
just cancel the claim, and get it repaired yourself? You dont have to claim for it.

My car got a hefty scratch on the bumper. But I like the car, and dont want it written off for pittance, so I just kept it. At some point, ill repair it myself with either a new bumper, or a respray.

Has someone already taken your car away or is it still with you?

If the damage isn't much and you want to keep the car, just get it repaired yourself.
 
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brillomaster said:
just cancel the claim, and get it repaired yourself? You dont have to claim for it.
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Surely once it is in the insurance 'system', whether it is paid out or not, it will always have a 'marker' on it on the database? Which would effectively be the same as an insurance write-off regarding value and problems in the future. The OP's premiums will go up as well, as it will be considered an 'incident'.

I unknowingly bought a Mini which was salvage and had been repaired. It didn't show up on the HPi, as it wasn't claimed. When we came to flog it, it came up on another more detailed system and was only worth scrap money. I was not impressed.

If money, or value isn't the issue for the OP, then the above doesn't matter.
 
My Porsche was written off recently, I asked the insurance to revaluate the first price and they came back with a better one. You need to deal with the insurance company and not with there appointed claim company. You can also take a cash settlement and get the car repaired asking for them to not class the car as any category.
 
Honeypip said:
Apparently the Z4 2.2i straight-six is a relatively rare model, produced for only a short period before discontinuation in 2005 and with far lower production numbers than the more common 2.5i and 3.0i variants.
Click to expand...
The 2.2 is an M54 engine, taken from the superceded Z3. It was an 'old' engine when used in the early Z4s and was replaced by the N52 (2.5 and 3 litre). That, and the fact the M54 was also available in a more powerful 3 litre, are the only reasons there are not many 2.2 E85s around.
 
Does the car have many optional extras which you can argue push the rarity value up?

As others have said a 2.2 auto isn’t that desirable despite rarity… but if you love it then keep it and the forum can help you sort it especially if it’s just cosmetic

Pics?
 
There's a 60k miles 2.2 auto on AT for under £4k. There's a manual with 20k miles for £4k and has been reduced already. Regardless of spec, I don't think you're getting anything like £6k from the insurers, but usually you can get more than the initial offer.

Would agree if you want to keep it to accept a payoff, buy it back and repair it. It sounds like you plan on keeping it forever so who cares if it's a Cat?
 
I had a similar situation with my 3 Series in 2023 when I claimed against the insurer of the car that hit it in the rear.

Got an insulting valuation and managed to get them to increase it by a couple of hundred pounds and gave up fighting it as the damage was just a couple of scrapes and minor cracks in the bumper cover so I wanted to keep the car. Took their increased offer less 22% to keep the car so I effectively got back 50% of what I paid for the car in 2019 and a perfectly usable car (albeit Cat N) which didn't seem too bad an outcome.

Hopefully you can achieve something similar, but if you want to keep your car make sure you keep it in your possession. If it goes to Copart, or similar, you'll probably never see it again. :(
 
Thanks guys for all the responses and advice, I've never had an accident before and it's all rather overwhelming

I'm going to have a go at increasing the offer with an aim to keeping and repairing my beloved car - fingers crossed
 
If you got hit by a third party, you are not obliged to involve any insurance company. You can lodge a claim directly against Veolia for whatever you think your loss is, but in reality that is only the cost of repairing the damage which is admittedly light. So your best option is probably to accept the offer and buy back the car for as close as possible to nothing and get it repaired.
 
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