overvalueing our cars??

If this is right, I'm getting my funds together and buying a Twin Cam!

FORD ESCORT TWIN CAM
2D SEDAN, 1970, 1.6 lt, 4 SP MANUAL

View valuation details Estimated Valuations:
$4,770 - $5,830 private sale
$4,300 - $5,300 trade in
$7,500 - $9,000 dealer price

quote:

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Originally posted by Scott
I think the value is what someone is willing to spend on one, I've been offered $7000 for my RS.

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+1

Like I said to a well known Automotive Enthusiast Insurance Agency who wanted to insure my RS for book value (after I had to explain to him what an RS2000 was...)

"You have got to be joking mate. I thought you guys were supposed to know about cars. Really, when was the last time you bought a classic car at Redbook value?"

These market values work in our favour when we get charged Vehicle Registration Duty. $3 for every $100 of market value.

I only paid $60. It would've been a lot more if it was based on the purchase price.

quote:

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Originally posted by whooligan

I spoke to lumleys......

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As is my Red RS for 16K after sending in some pics as was the purchase price!

My escort is insured with Shannons for an agreed value (purchase price plus modifications) and I'm happy with the policy. I need to ring them back as some stage to add some more mods on... 1600 Kent with DCOE weber etc.

What is the premium on that Phil?

Shannons had no problem writing my car up for 30 grand. Cost was $451. With $300 excess and I get to keep the wreck in case of a writeoff. On the proviso that car is kept in a locked shed and only driven two or three times a month.

quote:

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Originally posted by teeg

My RS on club rego is $120 a year to insure with the RAA, full comp with $10000.00 cover. I was happy with that.

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What club is it on club rego with? I think the rules are pretty strict on mods though but the savings are great.

Rhys

quote:

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Originally posted by sundowner

quote:

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Originally posted by jimmyd

quote:

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Originally posted by Scott
I think the value is what someone is willing to spend on one, I've been offered $7000 for my RS.

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+1

Like I said to a well known Automotive Enthusiast Insurance Agency who wanted to insure my RS for book value (after I had to explain to him what an RS2000 was...)

"You have got to be joking mate. I thought you guys were supposed to know about cars. Really, when was the last time you bought a classic car at Redbook value?"

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funny that jimmy your cars value was refered to me, when i worked for that company. as i know what there worth, when u got it insured and had to send pics in.

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Yes, the young lad did refer to a more experienced collegue (yourself in this case)only after disputing offered maximum value. After much debate over the relative condition of the car and submission of numerous photos the maximum cover offered was still limited to $10k. Interestingly the premiums were more than my current $10k agreed value with Suncorp - yes, even after identifying that the car is only driven 6 to twelve time a year to gazetted club events and stored securely off road.

When the requested written quote turned up the agreed value listed was substantially further south than the aforementioned value, needless to say I passed......


Anyone tried the newly resurfaced Enthusiast Insurance?

I also have all my cars with Shannons, however i am a bit pissed with the fact that the agreed value on the escort cosworth is going down every year, obviously not really an agreed value is it, as i dont agree. [B)]