insurance write off

[bellj]

Hi

Does anyone have any idea what affect "an insurance write off" in an Autocheck report has on the value of an otherwise lovely car?

Also what about if the car no longer has matching numbers because the original engine put a rod through the side and has been replaced by a correct but different engine but the original matching numbered crankcases are retained as some sort of documentation.

Would you consider buying a car like this if it was in all other respects really nice?
Regards
Jason

 

[Rotorhead]

You really need a pre-purchase inspection from a Porsche specialist who can confirm exactly what you are buying, any associated risks and the value.

There is definitely a stigma attached to a 'write off' and sometimes to non-matching numbers.

If the car is to be used for rallying, racing or track fun, then it may not matter, but if you are investing in its potential future value, then you would need to be careful.

 

[jamescharnley]

all depends on what car it is. For example originality on something like a genuine Carrera RS is prized & sought after. For other cars this is a lot less important / valued.

 

[pmjt]

ORIGINAL: oliver

There is definitely a stigma attached to a 'write off' and sometimes to non-matching numbers.

I'm sorry - this is a bit too generalised a statemement for me to accept - but more importantly, it's down to the 'system' that exists at the moment.

Firstly - James' advice is spot on - if it's a very special car, then originality will always effect value - but to put that into context - most of the Aston DBR1's, GTO's, and RS Lightweights will have had massive campaign damage - does that effect their value? Of course not - as long as it's not a complete re-shell.

We presently have this silly system of 'categories' of insurance damage - all to assist insurers in penalising owners of cars. There is merit in knowing if a 'new'ish car has had serious damage - this will of course reduce its value. But the same is not necessarily true of an old car. I used to own a stunning 356C in silver - in theory an 'insurance write off' by it's previous owner - in reality probably one of the best restored 'C's around after the accident repair.

A new, damaged car would be worth less than an undamaged one - which would you buy if you had a choice? But as a damaged car gets older and accident damage forgotten (provided it was repaired properly) it becomes less important. An insurance write off classic *could* be the best restored example of it's kind - given that an insurer was footing the bill []

One other important thing to consider is the way insurers value cars for write off - with something like an early LHD 911 - worth £11k - if it has £8k of damage estimate from the repairer (not a lot if you're doing sills / chassis legs etc. given the cost of parts and paint) then an insurer will possiblly 'write it off' on the grounds that when they've recovered the car as scrap, then paid out on a reduced value, it was cheaper than starting the repair.

Always get any classic evaluated by a specialist - and make sure insurance repairs were done properly - but don't be put off without good reason.

P

 

[bellj]

Thank you all for your input. This car is not an RS or similar but a lhd 911e. I believe it is a very straight and nice car but it had a fire in the engine compartment after an engine blowup and was written off by the insurance company and has been put together by an extremly competent guy.
I think my worry is that if I ever have to sell it, I will find it impossible to shift as Targas are hard to sell anyway.

I used to have a Targa for many years and loved it. However this time I was looking for a coupe with a sunroof but got drawn to this Targa as it looks so nice.

BTW Does anyone know of any sunroof coupe for sale preferably a 2.4 but not necessarily.
For 'DDK' - I have lurked on ddk for a long time - Am I able to join now I no longer have a Porsche - (I am looking for another one and have rarely been without one since the mid 70's)?

 

[pmjt]

ORIGINAL: bellj

Thank you all for your input. This car is not an RS or similar but a lhd 911e. I believe it is a very straight and nice car but it had a fire in the engine compartment after an engine blowup and was written off by the insurance company and has been put together by an extremly competent guy.
I think my worry is that if I ever have to sell it, I will find it impossible to shift as Targas are hard to sell anyway.

Then my view would be pay an appropriate price for the car and you're laughing. There's no shame in an engine bay fire and as long as the repairs have been done correctly - and it's priced right - what the hell?

I think Targas *were* hard to sell - but early Targas are now attractive cars - yes, harder than a coupe - but still great cars and in demand.

How much is the chap asking for the car?

ORIGINAL: bellj
BTW Does anyone know of any sunroof coupe for sale preferably a 2.4 but not necessarily.
For 'DDK' - I have lurked on ddk for a long time - Am I able to join now I no longer have a Porsche - (I am looking for another one and have rarely been without one since the mid 70's)?

Anyone with an interest / love for the early 911 is always welcome over at DDK Feel free to ask questions over there - the chaps are very knowledgable and friendly.

P

 

[bellj]

17.5 !
but I notice that there is a yellow one (a T/E) in Porsche post every month for 13 (porsche club valuation of 15) - so I think in view of the 'history' maybe this one is too expensive?
regards
jb

 

[pmjt]

ORIGINAL: bellj

17.5 !
but I notice that there is a yellow one (a T/E) in Porsche post every month for 13 (porsche club valuation of 15) - so I think in view of the 'history' maybe this one is too expensive?

[:-]

For 17.5k I would want a leftie E to be almost perfect! Sounds like a lot of dosh - check out the DDK - there are a few early cars for sale at the moment:

http://www.ddk-online.com/phpBB2/viewtopic.php?t=8750

http://www.ddk-online.com/phpBB2/viewtopic.php?t=9911

Good luck hunting []

P

 

[bellj]

Thank you again.
I must admit to not really knowing my own mind. It changes with every car I see. I originally set out to find a 356C or SC but they seem rare and expensive. I wanted RHD originally but have persuaded myself that LHD is more likely to be solid and not rusty and I can then drive down through France on the proper side of the road (for them).
I do not really mind paying a lot if I can be fairly sure of getting most of it back when I have to sell it. However 911's seem a fair bit cheaper than 356's which gives me more room for making a mistake and probably cost less to run over a long period. I had no disasters with mine and only had to pay for servicing for mine over a long period even though the mpg was pretty bad. Then I wanted a coupe with a sunroof - still do - and finally got sidelined by the nice weather into considering Targas.
Fundamentally I need to be able to sell whatever I buy although I hope to not have to sell.
I will go to see the Targa I was referring to originally as it really sounds good and then make up my mind afterwards.
Regards
Jason

 

[pmjt]

ORIGINAL: bellj
I must admit to not really knowing my own mind. It changes with every car I see. I originally set out to find a 356C or SC but they seem rare and expensive. I wanted RHD originally but have persuaded myself that LHD is more likely to be solid and not rusty and I can then drive down through France on the proper side of the road (for them).

356's are completely different animals to 911's - I am lucky enough to own both - and have had somewhere around 7 356's over the years - they are less of a car and more of a way of life []

Whatever you look at - LHD / RHD always look for the best you can buy in your budget - 356's needing restoration require mega bucks - 911's less so. A good nice 356C Coupe can be had for around £20k - a good 911 Coupe for £15 - 17k. BUT you'll probably end up spending on either over time.

Try and get a drive in each and see which is for you - anyone who says 356's aren't quick should have seen Geoff Moyes spanking the Jim Clark car around Le Mans over the weekend - the way he pulled away from the RSK up the pit straight was quite impressive []

ORIGINAL: bellj
I will go to see the Targa I was referring to originally as it really sounds good and then make up my mind afterwards.

Good luck - let us know how you get on.

P

 

[bellj]

I am now looking at Targas.
I drove nearly 500 miles in one over the week-end and went to see a couple for sale - one of which I drove.
Makes me suddenly feel 25 years younger!

 

[pmjt]

ORIGINAL: bellj

I am now looking at Targas.
I drove nearly 500 miles in one over the week-end and went to see a couple for sale - one of which I drove.
Makes me suddenly feel 25 years younger!

Having just done 1,200 to LeMans and back - most of it a tad above the legal limit [] there's no feeling like being in a vintage Porka [][][]