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Now that everything is finally done, I can reply to this topic. Firstly, I've been paid out for the M3 and the two accidents. Accident benefits are kept open. I'm still waiting on 330 payout, but that's cause I have yet to submit reciepts - dealing with the M3 was far more important.
Quote:
Originally Posted by Oshiguru
Hopefully they give you a good amount for it
Quote:
Originally Posted by SSM_DC5
Since ownership was short, they may just give him what he reported on the transfer form.
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Originally Posted by 68style
Transfer form amount has absolutely no bearing on accident payout.
Quote:
Originally Posted by SSM_DC5
Wait and see what OP says then. If your car value is based on current market price... Why would icbc not try to say your recent sale IS the current value. Remember they're out to make money.
Transfer form had no effect on accident payout. It is supposedly based on current market price. However, current market price is 28K and the lowest mileage at that price point is 177K km. My car had 150K km, 6MT, coupe. They used a white SMG coupe as a comparable. I have a full list of comparables with PDF copies and Excel worksheets that I used for evidence. It did not work. It didn't change a thing. I can upload said comparables to a Google Drive if anyone is interested.
Their initial offer was $9K, which I told him to fuck off and check himself. Next offer was $21K, at which point I was gathering and submitting evidence. They said we can go to arbitration. I didnt because of life circumstances. I'm still dealing with accident pain to this day.
Six months later, they threatened me with storage fees. So I got paid out $21K + tax for the car. I purchased for 17K. Buyback was $6500. I came out on top, but not enough to buy a comparable M3.
Quote:
Originally Posted by GIZZ
I know a few estimators. A few years ago they told me if it's $50 cheaper to repair a car vs write it off they would repair it. Is that no longer the case?
On the other end, the good news is ICBC has been super generous the past dozen or so years. Those girls have no idea of car values but the truth is they really don't want to deal with complaining customers.
They defs wasn't generous. Post updated with pics.
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__________________
|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
Ooof that buyback is a lot higher than I expected... when my 93 MR2 Turbo got written off in a head-on, the front end was obviously demolished but there's not really anything of value there... I bought the car back for $800 at the time and got a full interior / drivetrain out of it... made me wonder if ICBC, like most people, also assumed the engine was in the front when someone checked it off on a list somewhere hahaha
I would say usually if you like the car buying it back and fixing it you come out ahead by quite a bit... get your same car back at a huge discount and keep the difference... especially an E46 M3, there's a fair number of people who will still pay $$$ even with a branded title for one especially going forward... but $6500 makes it a bit less enticing unless you've got serious connections for the rebuild.
I believe they base the buyback on what they expect it to fetch at auction. This was 10 years back but buyback for my turbo NA Miata was $1500 or so when they assessed value at $5k.
I blame the Prestige's and Affordable Autos for jacking the price of smashed BMW's up.
Is the buy back an auction? I think my old car was sold for like $900. But I never really looked into it as I didn't think the car was worth much or had the money to throw fix. Do you get the first dibs?
Transfer form had no effect on accident payout. It is supposedly based on current market price. However, current market price is 28K and the lowest mileage at that price point is 177K km. My car had 150K km, 6MT, coupe. They used a white SMG coupe as a comparable. I have a full list of comparables with PDF copies and Excel worksheets that I used for evidence. It did not work. It didn't change a thing. I can upload said comparables to a Google Drive if anyone is interested.
Their initial offer was $9K, which I told him to fuck off and check himself. Next offer was $21K, at which point I was gathering and submitting evidence. They said we can go to arbitration. I didnt because of life circumstances. I'm still dealing with accident pain to this day.
Six months later, they threatened me with storage fees. So I got paid out $21K + tax for the car. I purchased for 17K. Buyback was $6500. I came out on top, but not enough to buy a comparable M3.
They defs wasn't generous. I'll attach pics here later of damage.
Did the adjuster argue with you that the SMG was a more expensive option, so your 6MT "at a lower trim" should be at a lower payout?
Same thing happened with my EVO X, at the time, there were no GSR/5MT for sale locally, there were a few EVO MR with the SST, the adjuster was like.. look EVEN THE SST EVO is only asking for $17K, you have a GSR with no sunroof, no hifi audio, no leather seats and 5MT, the max we can do is 14K...
I was like you fucking kidding? Anyone who shops for the EVO X
- doesnt want the sunroof (since you loose the aluminum roof)
- doesnt care about leather seats
- doesnt want the extra bulk/weight of the crappy sound system anyways
- doesnt want the SST that doesnt hold torque
I also compiled a huge excel sheet of links of EVO X gsr VS mr prices across Canada (with screen shots as listing get deleted after cars get sold, but i stuck to dealership more since I told adjuster he is welcome to call up the dealership and ask the final transaction price), which felt like did jack shit as they were ignored by my adjuster (reason = different region have vastly different automotive sales climate, we can only pull from our local market for comparison) when all there was like 3 EVOs (all mr) being sold locally.... yea... okay...
A quick letter from my lawyer (which was recommended to me by a fellow RS) member and the offer came back closer to 18K (I was stuck at 14K for 8 month at that point). Still less than what my GSR wouldve sold for, but god was an awful experience....
You can say I eventually came out on top with the my inquiry claim, but thats different, at this point I understand I will never be 100% from before the accident. And even then it was an up hill battle, we took ICBC to court for my personal injury claim.... fudge...
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Is the buy back an auction? I think my old car was sold for like $900. But I never really looked into it as I didn't think the car was worth much or had the money to throw fix. Do you get the first dibs?
Yah you have to be a licensed bodyshop and then pay a fee to access ICBC's auction site and it's a silent bid... you enter an amount and hope that yours is the highest when it ends if you want it but you don't know what other people are bidding. I find the price people pay for stuff is pretty damn high in my opinion... but the odd "weird" car slips through at a decent $$$ amount. Also, you only get a few photos and a half-assed description, so if you buy one and it's actually way more hidden damage you're left fighting with ICBC over the accuracy of the listing and most likely having to eat it.
If you choose to buy it back yourself they have a set expected amount that they think it will go for that they give you, doesn't even hit the auction site. ICBC also decides whether it's rebuildable or parts/dismantle only... so if they decide it's parts only then you can't rebuild it for road use.
There's precisely 2 people at the ICBC HQ in North Van that review all collector plate applications........... I won't say the current people in that position are as thorough as at least one that retired was, but what do they have to go on besides photos? Photos which can be edited... nevermind the car degrading in quality after plates are obtained. They make their decision at a point in time and it's not like anyone has to re-apply every year right?
If you see one, report it to them. They'll send them a letter asking for updated photos -- I know I've done this myself once when I saw a car with collector's plates that was an absolute travesty AND was being used to go to work and they immediately took action. Being upset/complaining online isn't going to change anything.
^ I saw a collector plated BMW with a rust patch and bubble the size of a watermelon just the other day parked outside the ICBC office in Lansdowne. I'm not going to go around reporting people, but I just wonder how that "got by".
Just observing the fact that they're either not very strict, detailed or don't care.
That’s a driver licensing centre, it doesn’t have much to do with ICBC’s insurance arm.
And again, how old was the BMW? it might have had collector plates for 10 years now and has degraded, it’s honesty policy after you initially get them... even if it’s a recent one, how hard is it to photoshop your photos before you print them? You’re not supposed to be peopel can and do.
It’s got nothing to do with them letting things by or not scrutinizing, it’s people that are working the system. Not sure why you can’t see what I’m saying even out of my previous post.
The only way they can check up on these people is reports form the public or if that individual gets in an accident. It’s honour system the whole way.
I think they're perfectly capable of enforcing it but don't care because here is no money in it and here is why:
The spent how much money on the 22 years of AirCare Inspection centres which were pretty much useless since no one was driving 1970's crap boxes any more. That would have been a pretty decent place for a quick updated pic?
We have a network of insurance brokers we all have to visit once a year to pay 2k for a 1inch sticker. We're going to be in 2021 soon and they can't figure out (or want to because brokers need to wet their beaks) how to do this online. This may also be a decent place for a quick pic from the broker?
I believe the new application you have to get the car inspected by a certified centre of some sort? Perhaps the shop can submit the report with pictures? These shops are most likely already doing claims for ICBC and are familiar with submitting pictures already, it would not be too far of a stretch to have them do this part as well?
I personally just think there is no money in it/volume is so low and that's why they don't enforce it, the infrastructure is there. They spend a heck a lot of arguing with you if they even think the car you bought is $100 below "market value" though.
I'm just an idiot talking about what if's, but whenever there is money to be made, someone will invent a system to get paid.
We have a network of insurance brokers we all have to visit once a year to pay 2k for a 1inch sticker. We're going to be in 2021 soon and they can't figure out (or want to because brokers need to wet their beaks) how to do this online.
I guess you must have just missed the news on this one:
BB is basically RevScene's Lebron at this point. Everyone on the edges of their seats waiting to see where BB takes his talents to next.
If I'm Lebron, then y'all gonna be disappointed unless I clutch.
I still really think a Veloster N would be a cool car to have. Underdog, just like my 330ci.
Right now, it's hard for me to justify spending 40K on a Mk7.5 Golf R, considering it's still a Golf at the end of the day.
Spoiler!
Also I ripped on my friend's RS3 yesterday, shit's fun af. I can see the appeal of DSG if you don't care for manual or if you want a fast daily. It's such a quick car. But aside from red light pulls, it's just chill driving. It doesn't provide much emotion.
But if I buy another e46 m3 or e90 m3, that's roughly 30K + 10-15K in preventative maint. Not sure if that's necessarily the smart thing to do, but neither is my decision. I've been thinking a lot about life and financial decisions, maybe all this was a way out. I've always felt that my car is tying me down to Vancouver (but now I have a house lol so rip).
I'm kind of tired of cars, tired of the people I've met in 2020, and frankly tired of everything. So if I'm gonna gamble on 30K, might as well gamble it elsewhere. Either way, I'm out 30K LOL. So to answer the question:
Quote:
Originally Posted by mb_
Opened thread to see if BIC_BAWS finally decided on a new car and we still haven't been told the decision LOL
I'm not. Gonna keep driving the civic for a bit, cheap on gas ~ $120/mo for ~ 2000km/mo.
If all goes to plan, I'll post up a pic of a 718 GT4 for track and M2/E46 M3 for a daily, in a new condo lol. If not, Mk7.5 Violet Touch Purple Golf R/Veloster N it is.
I guess all that talk about if I should be a boring adult has come to reality. Time to grow up
__________________
|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
If all goes to plan, I'll post up a pic of a 718 GT4 for track and M2/E46 M3 for a daily, in a new condo lol. If not, Mk7.5 Violet Touch Purple Golf R/Veloster N it is.
Unless you are really looking for a 99% track-focused car, I'd say a 718 GTS 4.0 is a noticeably better all-rounder that is almost as track capable as the GT4.
I like your plan to wait a little until you're more inspired to buy another car.
It's a lot of cash, and if you buy one you don't really like because you thought that's what other expect of you, then it's going to remind you everyday how much money and time you wasted for something you don't really enjoy.
ICBC payout system is weird, some of my friends and personally have gotten checks over market value without fighting for anything, and some other friends have had to claw their way to a fair valuation.
Too much inconsistency in this system to make everyone happy.
^ yea I think sometimes writing off is better than fixing and have a huge claim on the car. They fixed my car with like $3500 worth of damage on a let's say $5000 car, high km average body condition. Then afterwards I still had water leaking issues in the trunk.
If all goes to plan, I'll post up a pic of a 718 GT4 for track and M2/E46 M3 for a daily, in a new condo lol. If not, Mk7.5 Violet Touch Purple Golf R/Veloster N it is.
I guess all that talk about if I should be a boring adult has come to reality. Time to grow up
Idk who would ever read this or if there's any value to this, but my choices were Genesis G80 3.3T (last gen and facelifted gen), Hyundai Veloster N, Golf R, and Civic Type R.
The Genesis was the closest to a BMW - I had a ton of fun in that car but even a used model would have been 10K more than the Civic Type R.
I previously discussed how much joy I had in driving the Veloster N - lots of drama and theatrics. Pop pop bang bang. But a Veloster N all in is between 42K - $46K. Which you might as well buy a Golf R or FK8.
The Golf R was the biggest disappointment. It rides well, it's very fast, the manual was terrible. The clutch was so light you can't feel anything. I tried ACC on it, and while in theory ACC is great, with manual transmission it doesn't make any sense. Btw, AJ at VW Richmond was great to deal with! We connected really well and I never got any pushy sales person vibes from them. It was a great experience.
Shortly after driving the Golf R, I drove the Civic Type R. I had to convince the dealer to let me go on a test drive. We went literally around the block and back. But that was enough time to convince me that the FK8's manual transmission was THAT much better than the Golf R. Overally, I'm very happy with my purchase. The dealership experience was eh, not as good as VW Richmond, but I guess they get a lot of curb kickers with the FK8.
__________________
|| 18 FK8 | R-18692 | Rallye Red | 6 MT ||
|| SOLD 97 E36 M3 Sedan | Arctic Silver | 5MT ||
|| RIP 02 E46 330ci | Schwartz Black II | 5MT | M-Tech II | Black Cube | Shadowline | Stoff Laser/Anthrazit ||
|| RIP 02 E46 M3 | Carbon Black | 6MT ||
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