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.