Buy Backs?

Post by **paul bristol uk** » Sat Dec 14, 2013 3:03 am

When I picked my Soarer up yesterday after having it repaired(excellent job BTW) I was chatting to the body repair guy and we were discussing write offs. He said that insurance companies are all changing their tune on you buying back your car they want to keep it and auction it off as scrap. Is this now the case or just a load of c rap?

Bri · Post by **Bri** » Sat Dec 14, 2013 1:56 pm

I can not confirm but I would not be surprised, there is good money to be made from breaking so I dare say the good old days of breaker yards is on its way back in todays economic climate, used parts in hard times is a hot seller. Just think of the money JUST on Catalytic converters, they contain platinum, each cat has a number on it so you can grade it (OEM) platinum was or is worth £32 a gram........ Then there is the rest of the car parts that can be salvaged and sold, then there is the scrap at the end. It will be the breaker/salvage auctions. I wouldn't be surprised if it is true, string pulling from within is nothing new. Change the rules for back handers. They tried it with me when I had my accident in my red lude, I just told them they are NOT taking the car and I would cancel my claim before that happened.

Hope you are well as can be Paul

Post by **rob quilter** » Sat Dec 14, 2013 2:57 pm

I'll never understand why you have to buy your OWN car back after an accident.

89 UKDM BA4 4WS (resto job!) · Post by **wurlycorner** » Sat Dec 14, 2013 3:04 pm

Because once the insurance company pay you out for the car, you don't own it - they do.
It's effectively a sale, but they pay you for pre-accident value of the car rather than the value of the vehicle after the accident.

Post by **rob quilter** » Sat Dec 14, 2013 3:05 pm

That makes sense, I had to pay to get my lude back. I went mental on the phone.

Ted · Post by **Ted** » Sun Dec 15, 2013 5:00 am

Shiny is the one to answer this properly but in my opinion they dont want it to make a profit off breaking for parts, it will go to auction site like copart for example where it will be auctioned with a starting price of probably £75 and being what it is will not end on much more. Trouble with firms like copart is even if it does end on £75 it will cost you a fortune more to get it off the premises