Cat D Values Against Cap

[Dealer 54]

I know a few on here have said that you have dealt with vehicles on the register before now, I'm curious to see how you place a value on them when comparing against cap prices. Any advice? 

[JA Trader 58]

32 minutes ago, Dealer said:

I know a few on here have said that you have dealt with vehicles on the register before now, I'm curious to see how you place a value on them when comparing against cap prices. Any advice? 

I have done a few register cars and it is how i started out. I don't have a specific % or amount i reduce by . In my opinion it has to be cheap enough or have something really special about it to draw a buyer in and then talk them round from there and talk them through the repairs we have done.

I had an extremely low mileage written of car that i advertised for the same price as one for 30000 more miles to me locally sold within two weeks because they loved the mileage.

I think realistically though if you had two identical cars it has got to be 15 - 20 % cheaper to tempt a buyer to buying a cat car over a non category car.

I think that 80% of your audience is put of straight away by a category car. Saying that you only need one of the 20% to buy it.

[Casper 272]

I would say around 30 percent cheaper its has to be tempting enough for a buyer.

The main thing is making sure the repair is done correct I've seen some cars over the years with terrible panel gaps poor paint etc 

Edited July 26, 2019 by Casper

[tradegirl 112]

I take £1000-2000 off normal like for like retail, depending on the price.

[Tony911 79]

Half cap is how i value them if I ever do buy. If it's £10000 cap clean I would expect to pay no more then £4500 on hammer price if it's a £3000 car I want it at £1200. 

[Casper 272]

Its crazy money some of the dealers are asking for salvage could almost buy a straight one from auction for what some of them are asking on ebay.

Edited July 26, 2019 by Casper

[tradegirl 112]

14 minutes ago, Casper said:

Its crazy money some of the dealers are asking for salvage could almost buy a straight one from auction for what some of them are asking on ebay.

Casper, depends on the spec though IMO. For example, is a basic S/SE spec (dependent on make) is £9k, and the higher specs AMG/M Sports etc, start at 10500/11k, and your write off is the higher spec, then you're not going to price it £7k in line with the basic spec. You'll price it 8500/9000 in line with the better spec. At least that's what I do. 

Because when it comes to write offs, people are only buying them because they can get more car for less money.

Having said that, I have seen what you mean with smaller cars like Fiestas/Corsas, where the different in price isn't that much. And let's face it, you don't get much premium spec in a Corsa either.

[Casper 272]

12 minutes ago, tradegirl said:

Casper, depends on the spec though IMO. For example, is a basic S/SE spec (dependent on make) is £9k, and the higher specs AMG/M Sports etc, start at 10500/11k, and your write off is the higher spec, then you're not going to price it £7k in line with the basic spec. You'll price it 8500/9000 in line with the better spec. At least that's what I do. 

Because when it comes to write offs, people are only buying them because they can get more car for less money.

Having said that, I have seen what you mean with smaller cars like Fiestas/Corsas, where the different in price isn't that much. And let's face it, you don't get much premium spec in a Corsa either.

I do agree but I meant like for like I looked at golf gtds there was one in copart looked reasonable . But on ebay they were asking silly money with airbags popped etc for £1000-1200 more you could by a straight one from bca

As i said in earlier post I've not got much experience with copart only heard stories the company I used to work for the guy used to buy ex rental salvage from hudson kepel trading as scratch and dent . They were fairly new he turned out some nice cars .I think a lot of those cars are probably ex rental

Edited July 26, 2019 by Casper

[MarkTVS 209]

We had a 2010 Focus ST3 a few months ago, cat c’d in 2010 so must have taken a decent hit, normal retail was £9500,  we retailed it for £6500 and it flew out the door.

[tradegirl 112]

2 minutes ago, Casper said:

I do agree but I meant like for like I looked at golf gtds there was one in copart looked reasonable . But on ebay they were asking silly money with airbags popped etc for £1000-1200 more you could by a straight one from bca

As i said in earlier post I've not got much experience with copart only heard stories the company I used to work for the guy used to buy ex rental salvage from hudson kepel trading as scratch and dent . They were fairly new he turned out some nice cars 

Oh ok I see what you mean. Yeah some people selling their non-runners, only basically factoring in the repair. For example BMWs with engines gone, literally for only £1500-2000 below normal retail. Why would anyone buy a car and go into the trouble of rebuilding an engine, when it'll cost them the exact same money to just buy a normal one?

[Casper 272]

10 minutes ago, tradegirl said:

Oh ok I see what you mean. Yeah some people selling their non-runners, only basically factoring in the repair. For example BMWs with engines gone, literally for only £1500-2000 below normal retail. Why would anyone buy a car and go into the trouble of rebuilding an engine, when it'll cost them the exact same money to just buy a normal one?

Yes exactly . Id probs rather pay the money for the straight car rather than £1500 less for the write off factoring in the repair costs get someone to do the job etc and still have say a cat n against it would need a good saving for it to be worth it .  

11 minutes ago, MarkTVS said:

We had a 2010 Focus ST3 a few months ago, cat c’d in 2010 so must have taken a decent hit, normal retail was £9500,  we retailed it for £6500 and it flew out the door.

Thats a good saving Mark you can see the appeal there thats exactly the point I'm trying to make  ..

Would need to be saving around the 2.5 to 3 k to male sense to me and would think a customer would see it that way too . 

Ive seen a few st diesels on copart part look good value and have often been tempted

Edited July 26, 2019 by Casper

[metcars 395]

There are cheaper sources than copart for salvage.

In my opinion the prices of raw salvage has increased since the 'copart' thing, to the point where you'd be better off buying a shabby straight car from the block anyway. Where there is potential is from buying damaged straight cars from the block. Not only are the privates/amatuers put off but they're often an easy fix with the help of ebay. More and more people choosing to leave bodywork rather than involve insurance if the car still gets them to work, and just take the hit at PX time. Plus even at the block you can better judge pre accident condition clutches/engines etc

The best days for rebuilding salvage ended in the '80s

[Casper 272]

46 minutes ago, met said:

There are cheaper sources than copart for salvage.

In my opinion the prices of raw salvage has increased since the 'copart' thing, to the point where you'd be better off buying a shabby straight car from the block anyway. Where there is potential is from buying damaged straight cars from the block. Not only are the privates/amatuers put off but they're often an easy fix with the help of ebay. More and more people choosing to leave bodywork rather than involve insurance if the car still gets them to work, and just take the hit at PX time. Plus even at the block you can better judge pre accident condition clutches/engines etc

The best days for rebuilding salvage ended in the '80s

Like you say Met it's a  good idea .Have done in the past with ex motabilty cars

Infact I know of one guy and that was his business he had a contact and bought the ruff ones in bulk and got them perfect then sold them on . 

I remember going to the local garage with my dad years ago late 80s as a lad the guy was making good money from salvage he had a contract with a few insurance companies at the times 

he actually did ok Into the 90s up to  2006 before he retired and sold the garage but that was doing unrecorded ex hertz stuff etc . 

In 2006 he did a mondeo Zetec 3 months old at time 06 plate 3.5 k miles in black turned out a nice car but was cat d he sold that very cheap eventually and was good repair his brother was a great painter panel beater ( he used to fit odd number plates really annoyed my ocd lol ) I considered buying it as my daily driver at one point . 

In comparison he had a basic black mondeo same age and 7k miles he fitted zetec alloys of a break only which sold no problems  for about 2.5 k more . 

 

Edited July 27, 2019 by Casper

[metcars 395]

Personally, i dont know how guys are making the money to make it worthwhile. I have a Polish guy at the end of my road rebuilding salvage in his front garden. He only deals in BMW/mercedes/audi. And from what i can gather only sells to his own Polish community who seem to covet 10yr old german stuff? And probably dont fully understand what having a recorded car means until they come to sell it. 

Let's be honest, its the guys that are bent making tons of cash selling write offs. Always has been?

[Casper 272]

19 minutes ago, met said:

Personally, i dont know how guys are making the money to make it worthwhile. I have a Polish guy at the end of my road rebuilding salvage in his front garden. He only deals in BMW/mercedes/audi. And from what i can gather only sells to his own Polish community who seem to covet 10yr old german stuff? And probably dont fully understand what having a recorded car means until they come to sell it. 

Let's be honest, its the guys that are bent making tons of cash selling write offs. Always has been?

I don't think there is much money in it but that guy did alright for years he owned a mot station garage workshop bodyshop though  so had staff etc

[BHM 994]

40 minutes ago, met said:

And probably dont fully understand what having a recorded car means until they come to sell it. 

Ahh yes. I had it recently as a Turkish kebab shop owner told me he wanted £5000 for his Mercedes because “I paid £5300 for it 4 months ago & the man who sold it promised me it’d still be worth £5000 if I sold it in the first few months”!!! 

When I bid him “£3000 unless it’s a write-off in which case it’ll be half” he started getting shirty quoting the original seller - apparently his word was better than mine. I told him to take it back there.

[metcars 395]

1 hour ago, BHM said:

Ahh yes. I had it recently as a Turkish kebab shop owner told me he wanted £5000 for his Mercedes because “I paid £5300 for it 4 months ago & the man who sold it promised me it’d still be worth £5000 if I sold it in the first few months”!!! 

When I bid him “£3000 unless it’s a write-off in which case it’ll be half” he started getting shirty quoting the original seller - apparently his word was better than mine. I told him to take it back there.

I guessing that cars rebuilt after being written off in Poland are not recorded as such? Probably explains why so much salvage goes there from uk to 'rinse' the paperwork?