How do they decide the value? Im a little worried ill get a low value and then not be able to replace it with anything remotely comparable.
Is that likely with a major insurer?
The guy who looked at my van said that on the face of it, the damage doesnt look too bad, but the structure underneath is very bent and one side of the back end is pushed in by about 3 inches.
He said that there was alot of labour in the job and that could push it beyond the vans value, hence Im having to ask :-(
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It's based around what you would have to pay to buy the van you had before the accident, so look up Autotrader for vans of the same make, mileage etc and hope for something around that figure
You can argue the toss with them if you think you wouldn't be able to get 'exactly the same' van for what they offer
It's not what it's worth to you - it's the market valuation, i.e. what it's worth to anyone else
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So I should aim for a reasonable retail value? Its literally just been taxed and serviced which is £200 worth - should that be taken into account?
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Im not quite sure what to make of this - the used prices for vans of similar age and mileage to mine are identical to what I paid new, although since mine was last of the line, I did get a heafty discount, but this doesnt seem to be reflected in the used prices - I cant find one for less than £4800+Vat - I paid £4999+Vat for mine.
I assume the insurer will give me a Vat inclusive value if it comes to it?
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sounds like a remarkable van - is it a classic? :-)
I don't know when you bought it or how long you had it or what it is but that sounds a bit strange to me so it will to an insurer too
Are you looking in the private ads or dealers only?
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A year's tax will add to the value, I doubt if a service would add more than a few quid - it's kind of taken as a given
I wouldn't think of 'retail' value - if you mean 'dealer'
if you can gat the same van privately cheaper - then that's what it is worth - no more, no less
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There are very few on the market and at this age/mileage and all of them are at dealers.
Its hard to value when there arent many around as most are kept longer than a year.
Will have to wait and hope they can repair it.
I bought my van at cost price because the dealer had three weeks to shift it due to some obscure legislation which would stop them selling it as a new vehicle after Jan 06 ( safety related I think )and he had two more after mine to get rid of. If he had to register it, they wouldnt have broken even apparently although looking at used values now, I think they could have still got their money.
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Stu, is this the van you were hoping to keep for 20 years? Or am I getting my meads thruddled?
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Good luck but whatever you do - don't get caught up in the "what I paid for it / what it's worth to me" argument - you'll just stress yourself
Insurers will only give you the minimum you would need to replace what you had before
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They will ask you if you are VAT registered...if you say you are they will deduct the VAT
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What is the van, and age?
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Suzuki Carry 1.3 - December 05, 9800 miles.
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>>They will ask you if you are VAT registered...if you say you are they will deduct the VAT<<
Im not VAT registered.
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AT suggests you might get one for cash from a dealer for about £5,250 - and at that age they won't be on private sale anyway.
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Thats roughly where I was expecting, although its a difficult one because there arent many 55 plate ones on sale at all, let alone with low mileage and selling for less than 6k inc Vat, so id have trouble replacing like for like without dipping into my pocket.
Thats why I hope they repair it. Have to see.
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