Salvage value for 1981 300D?

[mfripp]

I have sad news about my 1981 300D. It was rear-ended the other day, crumpling the left-rear quarter-panel and the trunk floor. The body shop says it would cost at least $6000 to repair, assuming they can find a replacement floor section, which they think is unlikely. The car is running normally otherwise, although the muffler is now hanging too close to the street. The insurance company is offering $3984 for a total-loss settlement.

I'm inclined to take this settlement, but I just wanted to check on a couple of things.

1) Does this sound like a fair replacement price for this car? It is in good mechanical condition, other than a few mechanical problems (bad a/c compressor, vacuum leak on door locks, occasional freeze-up on the hazard/blinker switch). The transmission shifts reliably and firmly, and the engine runs smoothly, passes the blow-by test, doesn't produce smoke, and never needs topping up on oil. The car has 190,000 miles, but I think the engine was replaced (with a used one) around 100,000 miles. The body is a beautiful china blue, with minimal rust damage.

2) The insurance company says that they will reduce the offer by "up to 20%" (i.e., maybe as much as $800) if I decide to keep the car myself. I don't think I'd want to go through the trouble of fixing it, and with the smashed in rear-end, I wouldn't be too thrilled to drive it around as-is. So I'm wondering whether I can (easily) expect to get more than this value if I keep the car and sell it myself for salvage? I don't really know how that would work though -- list it in the classifieds, call a salvage yard, etc.

Thanks for any help you can give on these two questions! You all have always been very helpful, and I'm sorry to be leaving the shopforum, at least for now.

Matthias

[Wodnek]

It sounds like a fair offer based on the issues you mention. You say in your description "minimal rust" instead of rust free. I think you could fine a comparable replacement for $4,000.

A 123 parts car is worth around 500, so I wouldn't buy it back for $800 unless your interested in fixing it.

$4000 is much higher than most insurance companies would ever offer.

I agree with Wodnek, unless they offer it back for under $500 I'd keep the $4k and go car shopping. That much money should get you another in as good or even better condition if you look around.

[mfripp]

Thanks for the advice so far. The insurance company just called back with the salvage value for the car. They are offering $3984 if they take the car ($3600 + $315 tax + $69 registration) or $3605 if we keep the car. So I guess they're assigning about $380 as salvage value.

This sounds low, but maybe not low enough to justify holding onto it. Anyone in the Bay Area want a wounded 123 with a nice engine and transmission for $500 or more?

[JimFreeh]

If you keep it, you need to store it, and that will cost either money or aggravation, or both.

As has been said, it's a fair offer.

If you can find someone who will commit immediately to taking the car, maybe save it. Otherwise, move on and find a turbo diesel!

Jim

[cphilip]

Keep it The motor and tranny are worth far more than $380 easy enough. They are offering only scrap metal price for it. So thats very fair offer I think. Most times they are interested in the motor and stuff and make it sort of pricey. Sounds like not this company. Take it. I think you can sell the motor and trans for more than that fairly quickly and then sell the body for scrap. Steel scrap prices are up. Something like $11 a 100 pounds right now.

You should even be able to sell the entire car as a parts car, especially if someone can hear it run. Assuming you have someplace to keep it for a while.

[tgomes]

My parts car cost me $500 and has gotten $2000 back so far, and it didn't run! If you have a place to keep it, keep it.

Tony

[t walgamuth]

.10 on the dollar is the usual salvage value to the insurance company.

Tom W

[280EZRider]

Before you decide, check w/Silver Star Motors in Oakland at 1727 17th st (834-1090). They have many hard-to-find W123 parts.

If you really love this car, then take the $3600 and fix it. In the end, you'll probably spend much more buying a new car anyway. If you have no emotional attachment, take the money and run.

Insurance companies are like lawyers: If you deal w/them, you're going to get screwed no matter what.

[kolwrath]

Yeah as stated earlier the tranny and motor are worth way more.
$1000 -1500 would be my guess. It would make a great parts car.

BUT:
Also as stated, you will need a place to store it. Personally I would let it go. Just because I woulden't want to deal with the hassel of storing a wounded 123. I would say take the $4000 and go find another good condition 123.

My 2 cents.