'88 S4 Attacked While Passive
12-29-2012, 10:34 PM
#47
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Called Geico a few weeks ago to find out what I would get if the car was stolen or totaled. I wanted to see if it was worth keeping full coverage. The rep from Geico told me that they would go by NADA guidelines. It looks like the average retail price for an 88 is $13,700 (link Below).
http://www.nadaguides.com/Classic-Ca...r-Coupe/Values
http://www.nadaguides.com/Classic-Ca...r-Coupe/Values
12-29-2012, 10:55 PM
#48
Burning Brakes
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You need to get an appraisal to get better coverage and may depend on the insurance company you have.Had mine appraised and is covered under anitque/classic for $28,000 but is another insurance company.If you don't get it done that way then you get book value.
Last edited by inactiveuser1; 10-06-2013 at 10:26 PM.
12-30-2012, 02:17 AM
#49
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Called Geico a few weeks ago to find out what I would get if the car was stolen or totaled. I wanted to see if it was worth keeping full coverage. The rep from Geico told me that they would go by NADA guidelines. It looks like the average retail price for an 88 is $13,700 (link Below).
http://www.nadaguides.com/Classic-Ca...r-Coupe/Values
http://www.nadaguides.com/Classic-Ca...r-Coupe/Values
12-30-2012, 10:10 AM
#50
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My '89 was in a fire and was totaled.
USAA did their crystal ball magic and wrote me a check for $8500. I had paid $9200 for the car two years prior. I was not happy, but found a similar car in slightly better condition with even fewer miles on it, not too far away for just that amount.
What irked me most was that USAA ran "comps" and then did their "market value adjustments" which basically is a way to de-value the car to make it appear it would sell for much less money. The comps they tried to shove on me were months ago and the links they provided were no longer useful. In other words, those cars were gone from the re-sale market and I had no way of finding out how much they sold for. One was listed for the NADA low of $11,225 and the other for $13,900. Interestingly, USAA used their computer program to gerrymander the "value" to $8500 in both cases.
There were cars available on Craigslist and other search engines as well. None of them were used.
I am happy with the way things worked out but not remarkably so. I was lucky to find another '89. And for exactly $8500 (how odd). There were '91's around for about the same money but farther away and I'm not crazy about airbags.
However, once the car reaches a certain age (I have to find out what age), I can probably purchase classic car insurance. "Actual book value" doesn't really cut it for these cars.
USAA did their crystal ball magic and wrote me a check for $8500. I had paid $9200 for the car two years prior. I was not happy, but found a similar car in slightly better condition with even fewer miles on it, not too far away for just that amount.
What irked me most was that USAA ran "comps" and then did their "market value adjustments" which basically is a way to de-value the car to make it appear it would sell for much less money. The comps they tried to shove on me were months ago and the links they provided were no longer useful. In other words, those cars were gone from the re-sale market and I had no way of finding out how much they sold for. One was listed for the NADA low of $11,225 and the other for $13,900. Interestingly, USAA used their computer program to gerrymander the "value" to $8500 in both cases.
There were cars available on Craigslist and other search engines as well. None of them were used.
I am happy with the way things worked out but not remarkably so. I was lucky to find another '89. And for exactly $8500 (how odd). There were '91's around for about the same money but farther away and I'm not crazy about airbags.
However, once the car reaches a certain age (I have to find out what age), I can probably purchase classic car insurance. "Actual book value" doesn't really cut it for these cars.
12-30-2012, 10:47 AM
#51
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They may also adjust for mileage up or down.I have an older NADA book that they also ad or subtract for mileage,that went back to 1993,the older book pre 1993 wondered if they have the mileage adjustment in it or after they get so old if they leave it out?Anything with lower miles is going to be worth more if in nice shape.If anyone hasn't had their cars appraised and have it on record with insurance company on paper should be doing it.
12-30-2012, 01:29 PM
#52
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This is why I pay a little extra for agreed value (IIRC $150 more per year guarantees me a $30k payoff if a total loss).
12-30-2012, 01:37 PM
#53
Drifting
the subject of conversation here is one big reason why I get irked at the bottomfeeders/knockers who constantly want to disparage the value of any 928. Like others have said I'll be happy when all the ****box examples have been parted out and only nice ones are being cared for.
12-30-2012, 01:55 PM
#54
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Well excuse me sir! I am one of those bottom feeders who can’t afford a $30K example. But, I don’t ridicule those that can. I intend to keep my $5K **** boxes on the road as long as I can. I have mine insured at agreed value even though they are **** boxes and suggest you do the same. As with any commodity, value is what someone will pay and not what is printed in a book. NADA can list your car at $100K and it is still worth nothing if there is no one that wants to buy it. Personally I hope the **** boxes stay around a long time so I can continue to enjoy the ups and downs of 928 ownership without having to become a rich snob.
12-30-2012, 02:32 PM
#55
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NADA has 1995 GTS cars listed around $23k and with example low mileage of 20k on the car ad around $8k+ for that low mileage.Its almost the opposite on those cars GTS listed for $31k and they are selling for $50k and up.The last red one went for over $50k and had more mileage.That is why I am talking about the appraisals,book shows GTS at $31k is way under what they are selling for and best to have a car like that or almost any 928 apprasied with the right coverage.
12-30-2012, 02:46 PM
#56
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NADA has 1995 GTS cars listed around $23k and with example low mileage of 20k on the car ad around $8k+ for that low mileage.Its almost the opposite on those cars GTS listed for $31k and they are selling for $50k and up.The last red one went for over $50k and had more mileage.That is why I am talking about the appraisals,book shows GTS at $31k is way under what they are selling for and best to have a car like that or almost any 928 apprasied with the right coverage.
https://rennlist.com/forums/928-foru...-20-193-a.html
12-30-2012, 02:48 PM
#57
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My '89 was in a fire and was totaled.
USAA did their crystal ball magic and wrote me a check for $8500. I had paid $9200 for the car two years prior. I was not happy, but found a similar car in slightly better condition with even fewer miles on it, not too far away for just that amount.
What irked me most was that USAA ran "comps" and then did their "market value adjustments" which basically is a way to de-value the car to make it appear it would sell for much less money. The comps they tried to shove on me were months ago and the links they provided were no longer useful. In other words, those cars were gone from the re-sale market and I had no way of finding out how much they sold for. One was listed for the NADA low of $11,225 and the other for $13,900. Interestingly, USAA used their computer program to gerrymander the "value" to $8500 in both cases
.
USAA did their crystal ball magic and wrote me a check for $8500. I had paid $9200 for the car two years prior. I was not happy, but found a similar car in slightly better condition with even fewer miles on it, not too far away for just that amount.
What irked me most was that USAA ran "comps" and then did their "market value adjustments" which basically is a way to de-value the car to make it appear it would sell for much less money. The comps they tried to shove on me were months ago and the links they provided were no longer useful. In other words, those cars were gone from the re-sale market and I had no way of finding out how much they sold for. One was listed for the NADA low of $11,225 and the other for $13,900. Interestingly, USAA used their computer program to gerrymander the "value" to $8500 in both cases
.
Also note that AGREED value is unusual for most companies and STATED value is not at all the same but is often sold to people who ask for agreed value from a company which does not offer agreed value......read very very carefully before you have a claim !!!! Just because it says what your car is "worth" does not make it agreed value....nor do you ever get more than ACV if it were totalled.
12-30-2012, 03:24 PM
#58
Burning Brakes
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Different country,maybe they value them more like Volkswagons.
I had a friend years ago say they are just glorified Volkswagons
and who took over now.
Last edited by inactiveuser1; 12-30-2012 at 03:48 PM.
12-31-2012, 10:42 AM
#59
Drifting
Well excuse me sir! I am one of those bottom feeders who can’t afford a $30K example. But, I don’t ridicule those that can. I intend to keep my $5K **** boxes on the road as long as I can. I have mine insured at agreed value even though they are **** boxes and suggest you do the same. As with any commodity, value is what someone will pay and not what is printed in a book. NADA can list your car at $100K and it is still worth nothing if there is no one that wants to buy it. Personally I hope the **** boxes stay around a long time so I can continue to enjoy the ups and downs of 928 ownership without having to become a rich snob.
Super! If someone is smart or works hard or is lucky in life they can afford a 30K car. Life can be hard but if you plan a little and apply yourself you can be in that category I just listed. No one is entitled to live the good life just for breathing. Too much of that BS lately. That is exactly why the country is so far in debt and going over the cliff today would be a good wake-up call.
I'm not rich nor a snob just a guy who thinks you should live within your means. If you can't afford something tough crap.
12-31-2012, 10:52 AM
#60
Drifting
this seems appropriate here as I just saw it in another thread regarding cheapness of this hobby. I would never tell anyone what to do nor did I ridicule but I can agree with the sentiment when someone wants 928's to be bargain basement specials