What are these cars worth, anyway? - PeachParts Mercedes-Benz Forum

Jimmy Joe · #1 12-04-2004, 07:44 PM

I just paid through the nose for insurance, and got collision, but I am wondering if it is worth it.
Could not get a straight answer out of the insurance company.
Anybody know what the insurance companies really think these are worth?

Luke · #2 12-04-2004, 08:18 PM

Not much. About $3K on average for a nice W123 diesel sedan. Nice 300CD coupes, or the VERY exceptional sedan will command a suprising price sometimes. I recall one of the forum members managed to get an engine replacement reimbursed after colliding with some nasty road debris because he carried collision. You may wish to inquire of your insurance company. I carry collision on mine, because it is an exceptionally nice example. Whether an insurance company adjustment drone would think so is debatable.

Hatterasguy · #3 12-04-2004, 08:41 PM

Collision is a waste of money on these old cars. The most you will get out of the insurance company is $3k maybe. You would be better off taking what you would be paying for collision and putting it in a CD. They if you ever get in an accident you will have more options.

83-240D · #4 12-04-2004, 11:32 PM

www.kbb.com

miamimike · #5 12-05-2004, 01:22 AM

Quote:

Originally Posted by Jimmy Joe

I just paid through the nose for insurance, and got collision, but I am wondering if it is worth it.
Could not get a straight answer out of the insurance company.
Anybody know what the insurance companies really think these are worth?

Depends--as an example-I had a collision with a '87 Volvo 240 wagon 2 years ago--it was no gem I tell you that. I paid $1300 for it on purchase and had the car only 8 months. The other person's insurance totaled the car and looked at local dealers for replacement value--the only one they could find was a MINT '87 at a Local Volvo dealer and the dealer was asking $3800 for it--that is what their insurance co. gave me and I was ONE happy camper. Grabbed that check and ran to the bank!

The Warden · #6 12-05-2004, 02:13 AM

Quote:

Originally Posted by 83-240D

do you really want to know??? www.kbb.com

I knew I shouldn't have looked.

Kelley Blue Book says my car's worth $950. OTOH, if someone hits me, maybe I could get lucky like miamimike...

NADA said she's worth $1950, but didn't ask about condition...

Maybe I should take collision off my car and start putting it towards another M-B...

Gil · #7 12-05-2004, 03:35 AM

I have an 84 300CD in better than average shape. I looked into getting some collision insurance a couple of years ago, but my company said the car was too old. To get any kind of collision, they said they'd have to do some special evaluation, yadda yadda...

Anyway, they weren't exactly thrilled about the idea and I don't know that many people who carry collision on a car this old and, lets face it, nice, but not all that collectable.

I'm surprised to find this many people who can get collision on an old car like a 123.

Jimmy Joe · #8 12-05-2004, 04:28 AM

Hmmm, when I called to discuss insurance, they were all too happy to sell me collision, agent even said "hey, that's almost an antique" !
Now, this car has recent, nice paint, and a tranny rebuild 10,000 miles ago, and it is real pretty, and I have a fortune into it. So when we were talking insurance, it sounded good at the time. Now I wonder.....
Maybe an appraisal?

P.E.Haiges · #9 12-05-2004, 12:04 PM

miamimike,

If the other person's insurance company paid for your car, I wouldn't make any difference if you had collision coverage or not.

P E H

#10 12-05-2004, 12:23 PM

I would have to agree with everyone else on this issue, however some of those ebay scammers are trying to push up the value of these cars

inbanshi · #11 12-05-2004, 06:00 PM

Quote:

Originally Posted by 123c

I would have to agree with everyone else on this issue, however some of those ebay scammers are trying to push up the value of these cars

ebay sellers can't push up the value of a car unless someone bids on it!

83-240D · #12 12-05-2004, 06:30 PM

Quote:

Originally Posted by P.E.Haiges

miamimike,

If the other person's insurance company paid for your car, I wouldn't make any difference if you had collision coverage or not.

P E H

the wife and i were at the ins. agent. you see in this state you don't need ins. to get a license or buy a car so at least half the drivers are uninsured. or at least the poorer ones. so we kept the collision cuz we can't pay cash yet for another benz or grand am. the van is still on the monthly payment plan.

lots of colorful cars and owners with a lot of time in the bone yards mixing and matching parts.

being the wise*** who said check kbb.com i just did, there is no 240d listed. they have the 260e but no 240d. hmmmmmmm. that and they only go back 20 years. 1983 and earlier does not exist.

Hatterasguy · #13 12-05-2004, 06:56 PM

I'm 19 and my agent told me right up front collision on a MB is going to be expensive, it's not worth it. What will they give you? $5k max? How much does collison cost you a year?

Just my 2 cents.

Gil · #14 12-06-2004, 12:49 AM

The only reason I even thought of collision is when I got hit by a car that slid into me after it was slammed by an uninsured motorist who promptly drove away. Fortunately, there was minimal damage to my car, but it got me thinking about worse situations. Even though the car that slid into me had insurance, their company didn't cover me because they were not at fault.

Collision is hard to get for an old car, except for vintage and specialty situations. Then you're looking at limited mileage and driving restrictions, etc. The company doesn't care about rebuilt this or repainted that; the value is still what the value is for that car with x amount of miles, so it's questionable how much collision would really cover on an average old diesel benz anyway.
Good luck!

#15 12-06-2004, 01:02 AM

I think it's costing me about $175 a year extra for the collison. I wavered a bit, then decided to buy it. Heck, even a few grand is better than $0 right?

Lukejt