1990 560SEL, diminished value after accident? - Page 2 - PeachParts Mercedes-Benz Forum

Ferdman · #16 07-11-2020, 06:31 AM

bolomiester, to me any paint work dramatically changes my interest in buying a MB vehicle, no matter how high end the repair shop. If the car doesn't have all factory paint I would not buy the vehicle, especially a classic model. A complete restoration is a different animal … talking big bucks then.

t walgamuth · #17 07-11-2020, 06:32 AM

Well depends on price and intended use of the car.

alabbasi · #18 07-12-2020, 07:28 PM

W126 sedans are not worth much. If they don't total it, it would be a surprise and if they fix it, it should not impact value. People buy based on condition at this age.

Dervman · #19 07-13-2020, 10:16 AM

Quote:

Originally Posted by alabbasi

W126 sedans are not worth much. If they don't total it, it would be a surprise and if they fix it, it should not impact value. People buy based on condition at this age.

I would dispute the claim that "W126 sedans are not worth much".
According to Hemmings & Hagerty, values for late model 560SEL cars have risen dramatically in the last few years. My 1991 was appraised at $29k Cdn, ($21,400 US) a few years ago and Hagerty now shows it as $32k Cdn. ($23,600 US). The car is in excellent condition but not Concours. I know appraisals are often overblown to maximize the insurance value, but even at 75% of the stated value, the worth is hardly chicken feed.

alabbasi · #20 07-13-2020, 11:37 AM

Quote:

Originally Posted by Dervman

I would dispute the claim that "W126 sedans are not worth much".

Well they're pretty heavy so what's scrap metal worth these days?

Dervman · #21 07-14-2020, 10:04 AM

Quote:

Originally Posted by alabbasi

Well they're pretty heavy so what's scrap metal worth these days?

Well as somebody who owns Jaguars and Maserati Biturbo's, you should know that value

alabbasi · #22 07-14-2020, 10:36 AM

Quote:

Originally Posted by Dervman

Well as somebody who owns Jaguars and Maserati Biturbo's, you should know that value

First time I heard that I owned a Maserati, but way I keep track of cars, it wouldn't surprise me if i did. I've owned 12 W126 model in the last decade and still own 4. I've only ever sold 2. The rest I dismantled because they make better parts cars. I have bought and sold Jaguars and made money on them...

Don't get me wrong, I like them (a lot), but they're a victim of their own success and there are too many changing hands for $2000 in derivable shape, which drags the value of nice ones down.

Dervman · #23 07-14-2020, 11:07 AM

I don't disagree with you. There is no such thing as a cheap W126, just cars that sell for peanuts and need megabucks to keep on the road. That should make the really good cars a lot more valuable in my opinion. I think the serious and knowledgeable buyers are starting to realize that.

alabbasi · #24 07-14-2020, 11:41 AM

Quote:

Originally Posted by Dervman

That should make the really good cars a lot more valuable in my opinion

It's a reasonable theory. Finding that one guy who shares it with money to buy a car s about as rare as chicken lips. I have lots of experience with this which is why i dismantle so many. It's cheaper then spending hours on end with people kicking tires and listening to stories.

bolomiester · #25 07-14-2020, 06:13 PM

The plot thickens. A few days after I posted this I resigned myself to accept my fate. My insurance company approved the repairs, the body shop received the parts and I had an appointment for the repairs to be done. Then, the insurance company of the person that hit me called to say they accepted full responsability and that I should file a claim with them so that I wouldn't have to pay my deductible, and I should cancel my claim with my insurance company so it wouldn't effect my rates, which I did. I went through thier dog and pony show and got thier determination today where they decided the car was a total loss and offerd a low dollar figure to settle. I want to fight. Do I have a snowballs chance?

bolomiester · #26 07-14-2020, 07:06 PM

Wallbenz. You're welcome to take it for a drive. Run as good now as before the accident. I sent a PM with my cell number.

Hirnbeiss · #27 07-15-2020, 01:43 AM

You have some chance if you can show some support on a higher value for your particular car, such as condition, upgrades etc., but they are unlikely to move too much.

alabbasi · #28 07-15-2020, 07:47 AM

Go back to your insurance company and have them duke it out with the other party. They are working by running comps on cars sold (not advertised) which is how they are determining value.

I went though this with my 97 E420 after it was wrecked at an intersection. It did not matter how many receipts i had showing money spent. They were looking at sales info. I managed to squeeze another $1000 out of them by being a pain in the rear and refusing to settle.

bolomiester · #29 07-15-2020, 01:44 PM

I called my insurance company this morning and they very nicely restated my claim. They are also issuing a check for the full amount of the repair rather than deducting my deductable. I guess that since the other insurance company accepted full responsibility they are confident they'll recover.

I still can't figure out why the other company called and why they worked so hard to convince me to cancel the claim with my insurance company and file one with them. What was thier agenda? The wierd thing is they were going to total the car and pay me more than the estimated cost of repairs. They must be afraid of some exposure that I can't figure out.

Anyway, my car will stay on the road. It has its 250K badge, maybe I can keep it going long enough to apply for the 500K badge!