Write off buyback

[93_Clubman]

parting out

Forget who they were, but a couple of forumites posted a little while back that the part out process was quite time consuming.

[project.r.racing]

Stock car. Not worth keeping to part out.

Various power or handling enhancements. Maybe worth keeping. But...

You need to factor in time and space. Maybe 2 years to completely part it out. The car need to be kept in a safe and dry position the whole time. Once it is a shell, you need the ability and means to dispose of the shell.

[greenMachine]

As someone who has parted out three cars, it is no picnic. I bought one to partout because it was cheap way of getting a gearbox, one (the original GM) was written off on track, and the other was the racecar which didn't sell, so only one was a conscious decision to buy to partout. I have sheds and 20 acres, so space is not a big issue, but it is surprising how much is needed when it has to fit in with the other things those spaces are used for.

It takes effort and time to dismantle, and a certain level of equipment/tools. And don't expect to get paid for your labour.

I was happy with the results from all three, but there will not be a fourth ... and I still have to decide when to take the leftovers to the tip.

I would say to the OP don't do it unless the car has some valuable bits that are not reflected in the insured value. Be hardnosed about what prices are achievable, and see if you can make money on the big ticket items over what you paid for the salvage. After that it becomes a long slog.

[Chuppa]

Thanks for the advice everyone.

Depending on the salvage value Shannons come up with I may hold onto it and fix it piecemeal as the damage is limited to the panels.

Chuppa


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[Red_Bullet]

One of those Melbourne back yard wreckers was selling an apparently tidy red NA shell for $2k..on FB yesterday, can't find the link right now...

whoops see if this works

https://www.facebook.com/groups/680279708727670/

Well just checked, it's still there a few items down the page.

[Chuppa]

Update: claim has been finalised and the buyback/part-out option is off the table.

Salvage value was assessed at $2000! . Sun insured was only $5K5 so the numbers don’t stack up.

Goodbye Silvie, you will be remembered.




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[greenMachine]

Good decision.

A 1.6 5-speed has two strikes against a good financial return, at least in a reasonable timeframe. A $2k outlay would put me off for sure.

[bruce]

I agree. $2K is too much.
I would have offered them $1K and see what they said. I'd happily drive it around after some DIY panel beating.

[Chuppa]

I would too Bruce. Seems Shannons have offloaded it to Mannheim’s already. May give them a call, or keep an eye on their auctions.

Chuppa


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[93_Clubman]

Seems Shannons have offloaded it to Mannheim’s already. May give them a call, or keep an eye on their auctions.

Good idea.

[shirtz]

be interesting to see how much it sells for at auction. "full circle" so to speak

[Chuppa]

Car was auctioned a couple of weeks ago and went for $1100.

She ended up on Facebook marketplace and in two weeks was reduced to basically a shell.

I managed to get some of my aftermarket bits off her in the process. The auction winner is a good guy.

Case closed.




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[bruce]

I would have offered them $1K and see what they said.

Bingo!

[shirtz]

wow.

partly because of this thread I called shannons and I now get my car back if its written off. only a few bucks extra per year.

[Lokiel]

My aftermarket parts+modz alone are worth well over A$6,000 so buy-back was THE most important decider in choosing an insurer AND I've made this VERY clear (I'm with Shannons). I'm actually tempted to drop back to 3rd-party too given the low valuation of the car