General Advice Please

[BFEINZIMER]

So some of you may remember my collision about a month ago. Long story short, the car is a total loss, though I will keep the car with a salvage title, and then fix it as much as I can with the help of some helpful people I met through some other boards and then sell it.

I bought the car almost exactly 2 years ago for $3,200. Since then I've poured thousands into it for new parts and service, to keep it up and improve its appearance. I sent both insurance companies 20+ pages of records and they both increased value roughly from $3,500 to $5,500, with the at fault party's insurance giving out slightly more.

So my question is, do you think I should accept the $5,500 or keep fighting for anything else. As is, I plan on at least switching out the perfectly good t-start and almost new Pilot Sport PS2's and selling those on the side and putting the OEM wheels on, and then selling the E34 as a salvage..so should I keep trying or just accept that amount? Any ideas on how I can increase the value any more? Thanks guys.

Brian

[632 Regal]

Brian,

5500 on a 90 535 is not bad at all! If it's worth it swap your good new stuff with other parts. Not sure what you can do with insurance besides try to beat them up with high priced cars for sale. Good luck with it all!

[BFEINZIMER]

From what I've been able to tell, a comparable has to be the same model and year, and be within a local market, and the comparable value has to be an actual selling price, and I have not found another E34 similar to mine in the area thats been on the market recently, the closest thing I found was a nicely upgraded 92' 535iM selling a year or two back for 7 grand, so that wouldent work....

Sadly I cannot afford another BMW, I need something I wont have to put anything into in terms of major stuff, so I'm thinking a CPO Honda Civic... :(

[Tiger]

Insurance giving you back the car? How much to buy car so you can part it out?

[BFEINZIMER]

The buyback is under $300. I'm keeping the car, which they will then assign a salvage title. But I don't have the time, space or know how to be able to part it effectively. But I mean, what do you all think about the amount they are giving me?

[bubba966]

Without knowing what you put into the car it's hard to say if $5,500 is good or not.

But for $5,500 you can get a '95 540i/6 right now. And I've seen a '95 540iA M-Sport sell for not much more (and there were only 65 of those ever produced). Makes me think that $5,500 for a '90 535iA is pretty decent. Especially since you can get another $1K+ easy for those T-Stars & PS2's should you part it or sell it for salvage.

What kind of estimates did you get for repairing it? A salvaged title doesn't mean anything if you're not trying to sell it. Why not take the $ and fix it on the cheap & keep the car?

And honestly I don't think a salvaged title would mean too much for a '90 535iA. You've got good pics of the damage. I haven't looked at those pics since you posted them. But it didn't look like there was much if any structural damage. And as these things can be rather expensive to fix if you go with new parts & spendy labor, it doesn't take much in the way of cosmetic damage to total one out. Basically I'm saying that if you did keep it and fix it and eventually sell it I doubt the salvaged title would effect the overall value that much.

Yes, it'll make a few people pass on it, and you won't get quite what it would've sold for if it wasn't salvaged. So if it would've fetched $3,500 and you sell it for $3,000 because of the salvaged title is it going to be that big of a deal?

I say buy it back. Fix it up mostly yourself if you can. Get used panels, do your own paint prep work (because that's where all of the cost is in a paint job) etc. But do a good job on repairing it. You might actually be able to come out ahead, if not at least break even.

[repenttokyo]

That's a great deal for your car, take it and run and do the best you can with what you can take off the vehicle.

[bubba966]

Checking cars.com the most expensive '90 auto I could fine is $4,300 and it's only got 102k miles.

Checking on autotrader.com I see a 69k mile '90 535iM for $5k and it's got ACS Type 2's on it.

$5,500 sounds pretty damn good to me...

[Tiger]

Take it... and buy the car back. Your family will help you out. Talk it over with them. If I recall, your dad or gramp helped you out with all that work? Get another E34... so you can use the car as part car.

[attack eagle]

Take the money and run... I've seen cherry, sub 100k mile 535 5 speeds sell for $3200-$3300.

[Ross]

Take the money and run... I've seen cherry, sub 100k mile 535 5 speeds sell for $3200-$3300.
X2
I'm also thinking that most or all of your upgrades escaped damage.
the only thing I'd now try for is not to hand over the title to be branded as salvage, even though it probably of little consequence in this instance. The damage you suffered would have been repaired in a New York minute when the car was younger. Your car doesn't deserve the stigma such a brand presents. A potential buyer ignorant of these matters may assume a major collision is the reason and balk.
FWIW I had the same situation with a minivan years ago. The Ins. co. wrote the check less the salvage value, I kept my title and all was well. My damage was a tweaked fender and hood along with a broken light. Light damage for certain, but since the vehicles book value was only a couple thousand dollars they offered to total it. Another case where a branded title would have been inappropriate.
But, like AE says, take the money. I'll give you my 540/6 for that amount.

[BFEINZIMER]

As much as I'd love to keep the 535i or better yet pick up a 540i/6 I've realized that as a college student in today's economy it does not make sense to pick up another E34 or BMW for that matter. I'd love and E36, E34 or even best a E38 740iL Sport (O mama!). I need something that I don't have to put anything into (other than oil), thats why I'm thinking a CPO Civic. And fix the E34 as much as possible before selling it.

The passenger fender is shot. Hood is slightly bent and off alignment. The passenger front door needs some minor work. The bumper and its plastic parts that attach it to the car need replacement. Radiator got pushed back off its clips, but its brand new. Oil pan gasket resulting in an oil leak. Possible suspension damage but it drives straight, so not sure...you can see why I need something I don't have to put anything into. But I'm gonna try to get together with a few old board members I'm friends with and work on the mechanical stuff so I can sell it salvage for maybe a grand or 2.

So no other ways I can get more insurance $?

[Tiger]

I would not bet on it for more insurance money. Either way you go... money into gas and car or money into car and paying lower gas cost. You are going to end up with about $6500 to $7000 after you sold off the BMW.

[BFEINZIMER]

As a quick breakdown this is what they are giving me:

$5500.00 - Actual Cash Value - Good, great, or can I get more?
$431.07 - Taxes
$17.00 - So I can salvage it.
- $ 275.00 Salvage Buy Back

5673.06
+ 303.00 Rental (never issued)

More, or take it?

[repenttokyo]

As a quick breakdown this is what they are giving me:

$5500.00 - Actual Cash Value - Good, great, or can I get more?
$431.07 - Taxes
$17.00 - So I can salvage it.
- $ 275.00 Salvage Buy Back

5673.06
+ 303.00 Rental (never issued)

More, or take it?

dude it's fcking AMAZING they are giving you that much, TAKE IT!

[Tiger]

Take It...

[tim eh?]

take it!

i bet you could find somebody to fix all that for less than $5k and walk away from this with beer money.

[Tiger]

No... he won't fix it... he will buy the car back and try to sell it for part car... Maybe he'll end up with $7000+ for his next car... a Honda.

[BFEINZIMER]

Sadly I will be forced to buy a Honda...I just does not make sense to get another BMW and pour money into it when this could happen again. One day again one day.

[Tiger]

Go test drive a Honda... seriously... go drive it... Make sure you won't hate it everytime you drive it.

[repenttokyo]

Sadly I will be forced to buy a Honda...I just does not make sense to get another BMW and pour money into it when this could happen again. One day again one day.

my e34 is the most reliable car i have ever owned. someone could hit your honda too.

[bubba966]

Go test drive a Honda... seriously... go drive it... Make sure you won't hate it everytime you drive it.

+1

Someone I used to know had an '02 Accord. Most gutless boring car I think I'd driven.

Now I've never driven a 535iA, but I'd bet good $ that after driving that for a while you'd hate driving a Honda that wasn't an NSX. And since you won't find an NSX that doesn't need work for anywhere near $7K you're not going to buy an NSX.

Is there some reason you're not going to fix it up and keep it?

I'm to understand that you had the car pretty much up to snuff. Now if all that's wrong with it is cosmetic crap, what'd be the big deal on keeping it?

Though if I was you I'd be damn tempted by Ross's '95 540i/6...

If you do part it or sell it, what will you want out of the T-Stars & PS2's? My PS2's are going to need replacing in another couple thousand miles.

[Tiger]

+1 here... it is super reliable... hardly spent any money on it after the usual wear and tear parts.... however, I did most of the work myself so tons of labor saving there.

[BFEINZIMER]

+1

Someone I used to know had an '02 Accord. Most gutless boring car I think I'd driven.

Now I've never driven a 535iA, but I'd bet good $ that after driving that for a while you'd hate driving a Honda that wasn't an NSX. And since you won't find an NSX that doesn't need work for anywhere near $7K you're not going to buy an NSX.

Is there some reason you're not going to fix it up and keep it?

I'm to understand that you had the car pretty much up to snuff. Now if all that's wrong with it is cosmetic crap, what'd be the big deal on keeping it?

Though if I was you I'd be damn tempted by Ross's '95 540i/6...

If you do part it or sell it, what will you want out of the T-Stars & PS2's? My PS2's are going to need replacing in another couple thousand miles.

Well I am aware that after driving my 535 I have "pampered" myself. On occasion I drove my mom's Camry and I just couldn't stand it. Its a heart breaking decision to have to leave BMW.

Well I was due to replace the oil pan gasket, and in the collision it pushed the radiator back and might have knocked some other things loose. I realize now that the car, no matter how much $ you put into it, will only change in value slightly. It does not make sense to keep it, as I will need a place to store it and then just have to deal with it on the side.

If I get a certified pro owned honda for example, It has a 7 year 100,000 powertrain warranty. I really won't have to worry about anything except oil, as I see it.

I'm not sure but one of the t-stars will need a little work as it was scuffed in the collision. The tires are just a few months old and there are Hella TPMS sensors in the wheels. If you want those as well as the brain of the unit, I'll prob throw it in for an extra amount, or keep it for the next car. Its a nifty tool.

But basically I bought the t-stars for $1150 if I remember correctly, and the PS2's were just over $900. So somewhere in that range....the ps'2 were never pushed hard, just street use and they are perfect.


my e34 is the most reliable car i have ever owned. someone could hit your honda too.

But the Honda hold's its value better, and I won't have to put $$$ into it. If the new car gets hit, I get paid and don't lose nearly as much $ as I did this time around.


+1 here... it is super reliable... hardly spent any money on it after the usual wear and tear parts.... however, I did most of the work myself so tons of labor saving there.

I wanted a Civic Hybrid, but there is a premium on them and I'd rather have a car with a simple engine rather than something over complicated.

SO

I guess I'll just accept what they have offered me. Now with this whole "Brake and Lights Check" that you have to have done in CA, does anyone have roe details from personal experience. I heard they are several hundred and only done by shops. I also heard its done by the CHP for a small fee. I'm wondering should I start working on the car with the other board guys before I accept the check and have to reg. it as a salvage title, or after? Not too clear on that...

[repenttokyo]

Well I am aware that after driving my 535 I have "pampered" myself. On occasion I drove my mom's Camry and I just couldn't stand it. Its a heart breaking decision to have to leave BMW.

Well I was due to replace the oil pan gasket, and in the collision it pushed the radiator back and might have knocked some other things loose. I realize now that the car, no matter how much $ you put into it, will only change in value slightly. It does not make sense to keep it, as I will need a place to store it and then just have to deal with it on the side.

If I get a certified pro owned honda for example, It has a 7 year 100,000 powertrain warranty. I really won't have to worry about anything except oil, as I see it.

I'm not sure but one of the t-stars will need a little work as it was scuffed in the collision. The tires are just a few months old and there are Hella TPMS sensors in the wheels. If you want those as well as the brain of the unit, I'll prob throw it in for an extra amount, or keep it for the next car. Its a nifty tool.

But basically I bought the t-stars for $1150 if I remember correctly, and the PS2's were just over $900. So somewhere in that range....the ps'2 were never pushed hard, just street use and they are perfect.



But the Honda hold's its value better, and I won't have to put $$$ into it. If the new car gets hit, I get paid and don't lose nearly as much $ as I did this time around.




look dude - you're not going to find any real sympathy to this position here. this is a community of people who are dedicated to their e34's and prefer driving them over a Japanese 'appliance'. If you want to buy a boring car that you will never have to think about then by all means do it, but I don';t think anyone here is particularly interested in any of the 'value' or rationale behind it.

and i mean that in the nicest possible way,

[BFEINZIMER]

Just explaining my reasoning. Chill.

[repenttokyo]

Just explaining my reasoning. Chill.

I am chill, but I didn't buy my e34 because I cared about it's value ;)

[bubba966]

Ok, so you're not going to keep the car to drive it. So why bother fixing it up at all? If you fix it up just to sell it I'd bet you'd throw more $ at it than you'd get out of it by selling it immediately.

If you were going to fix it up to drive for a few more years minimum then it'd make some sense to fix it up.

Seems to me that you should take your $5,500. And take anything off of it that you could easily sell for decent $ (EAT chip, T-Stars, etc.) Then sell it for scrap or as a parts car if you don't have room or time to really part it out.

Something tells me that you could easily throw $3K at it. And that you'd have a hard time selling it for $3k if you could even get $3k out of it if it was fixed up.

[Paul in NZ]

the honda warranty will only cover things that "break" wont it....not wear and tear,so it wont be dollar free motoring,buy an e30!

[Tiger]

Yeah I know... but from your experience... you practically bought a lemon BMW in the first place... Now you really know what to look for, you can avoid all that problems. However, you are right about the warranty on the Honda... pretty much covers almost everything.

If you part out your BMW... you will get alot more money... but then again, you probably don't want to.