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General E46 Forum
This is the place to get answers, opinions and everything you need related to your E46 (sedan, coupe, convertible and wagon) BMW!

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Old 05-20-2014, 01:22 PM   #1
StickForLife
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Angry Car is to be totalled, value?

Hello everyone,

Recently I got the sad news that after my garage got two feet of water backup, my 2005 330xi 6MT is to be totaled. The car was practically fully loaded and I am concerned that the insurance company isn't considering the value of the car. They believe it is only worth about $7k .

Mechanically, car was in good shape. Cosmetically, car was in decent shape, a few stonechips and a few light scratches on the rocker panels, no dents or other major things. I would have classified the car as "clean".

The last four of the VIN are:

PG12187

Car had just shy of 125,000 miles. Options/Packages off my head include:

Sport Package
Premium Package
Navigation
Harmon-Kardon
Cold Weather Package
Manual Transmission

I recall reading that a 2005 6MT 330xi with Sports package was exceedingly rare. Does anyone have a link to E46 build statistics that would back this up?

Thanks for any info!
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Old 05-20-2014, 01:28 PM   #2
NOVAbimmer
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doesn't really matter how rare the car is, it matter what the car is worth. Manual transmissions are worth less than automatics. The packages tend to add very little to resale value.

Do a cars.com or autotrader search within, say, 50 miles of your zipcode for other 2005 330xi's with similar miles and go from there.
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Old 05-20-2014, 01:30 PM   #3
NOVAbimmer
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here you go, within 200 miles:
http://www.cars.com/for-sale/searchr...Source=UTILITY

You may be able to argue between $8500-$9000, adjusted for current condition.
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Old 05-20-2014, 01:33 PM   #4
WDE46
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Try to get as close to $10,000 as you can get.
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Old 05-20-2014, 01:35 PM   #5
WDE46
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You guys do yourselves a favor and don't look at ****ing KBB. Lost another 35% this past year...
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Old 05-20-2014, 01:44 PM   #6
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Originally Posted by NOVAbimmer View Post
here you go, within 200 miles:
http://www.cars.com/for-sale/searchr...Source=UTILITY

You may be able to argue between $8500-$9000, adjusted for current condition.
Those listed on cars.com are dealer sales, which are always higher than private sale or trade-in values. When your car is totaled, most insurance companies will give you the trade-in value, not what the car is supposed to sell on a dealer lot. I would say you might get around $6500-7000. But you never know, you might get a ridiculously higher offer price too.

Last edited by generalvp; 05-20-2014 at 01:45 PM.
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Old 05-20-2014, 01:45 PM   #7
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Originally Posted by generalvp View Post
Those listed on cars.com are dealer sales, which are always higher than private sale or trade-in values. When your car is totaled, most insurance companies will give you the trade-in value, not what the car is supposed to sell on a dealer lot. I would say you might get around $7000-7500. But you never know, you might get a ridiculously higher offer price too.
This is false.
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Old 05-20-2014, 01:47 PM   #8
generalvp
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This is false.
So what's true then?
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Old 05-20-2014, 01:49 PM   #9
NOVAbimmer
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ACV is what they pay, plus/minus adjustments, plus tax/tag/title fees. Minus deductible, since OP is using his company.
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Old 05-20-2014, 01:53 PM   #10
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The insurance industry value assessment is a bit different than Kelley Blue Book and NADA, but these sources are a guide of what people are paying for the cars, which by definition is an expression of value. The manual transmission is a hit to the value. Back in the days of old, the automatic was an add to the value, but today value assumes an automatic and if a manual then there is a deduct. Sad but true. You and I might hold the manual in high regard, but we are freaks of nature so we do not count.

I would use the Private Party value in KBB of a car that is the same age and has the same features and has the same miles. Then I would use autotrader and look at the same age of cars in your area and see what the cars are being offered at. This will give you a number, and you should expect the insurance to offer about 10% below that number. It would be nice if they matched the number, but odds are very high that they will not.

If you have receipts of recent major repairs -- engine work, trans service, those sorts of things -- then pass them along to your agent. My insurance gave me the cost of a recent clutch replacement and they paid me for the head that was replaced when my car was totaled. If you recently paid $1500, and they value your car at $6000, then they will up the value by the amount, or some portion of it, of the receipts.

If you put in a sound system, they will not pay for it. But you can remove it (if you have the car at your house) and put in something else. Insurance will want the hole where the radio lives to be filled, but they don't demand that the hole be filled with something that works. You can remove any add-ons that you have put onto the car, but if this causes an empty space then they will want it filled in. If you upgraded the tire package, then you can put the original wheel package on and keep the upgrade.
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Old 05-20-2014, 01:54 PM   #11
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ACV is what they pay, plus/minus adjustments, plus tax/tag/title fees. Minus deductible, since OP is using his company.
Not so sure about that. Had 3 totaled cars in my family and all paid based on the trade-in market value of the car, minus deductible and all other applicable deductions.
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Old 05-20-2014, 02:02 PM   #12
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Not so sure about that. Had 3 totaled cars in my family and all paid based on the trade-in market value of the car, minus deductible and all other applicable deductions.
Your insurance company screwed you, then. Or your state laws suck.
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Old 05-20-2014, 02:06 PM   #13
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Your insurance company screwed you, then. Or your state laws suck.
So we are both wrong then because it varies state from state.
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Old 05-20-2014, 02:09 PM   #14
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Not so sure about that. Had 3 totaled cars in my family and all paid based on the trade-in market value of the car, minus deductible and all other applicable deductions.
They should have paid you the Private Party value, not the Trade In value. The whole reason that the private party market is so robust is because the trade in values are so low.
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Old 05-20-2014, 02:21 PM   #15
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Websites like cars.com and autotrader are only a good reference. They do not show actual transactions of what cars sold for. A seller can ask whatever he/she wants but that doesn't mean that they will actually sell the car for that asking price. You can't gauge what a cars value is based on what some guy priced his car at that is similar to yours.

Unfortunately these cars are dropping like a rock in value and will continue to do so. Part of that is because there are so many neglected e46s on the market that are in just awful condition. You can just about guarantee that 9 out of 10 e46s for sale at any given time are in need of a boatload of work. These bad examples are effecting the prices of even the cars that are meticulously maintained and in excellent shape. Really at this point people are nuts to buy an e46 and put the money into them that they require unless the car is going to be kept for years to come. Otherwise you are literally throwing money down the toilet just to drive a BMW. People are better off just leasing a new one as it is cheaper in the long run.




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Old 05-20-2014, 02:22 PM   #16
WDE46
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So we are both wrong then because it varies state from state.
This is generally how every internet discussion involving legal matters ends.
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Old 05-20-2014, 02:39 PM   #17
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The car is worth 10-11K. I believe SamDoe1 sold his 330XI manual for 10.5 with similar miles. You need to find comparable comps and present them. 2003-2005 330XI with Manual Transmission Comparable Options/Miles. You should be able to sort them through Autotrader, eBay and Craigslist Aggregate tool.

Note, the XI is worth more than the RWD Sedans.

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2003 AW/BLK 330XI/AT/Sport/Premium/Cold Weather
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Old 05-20-2014, 02:39 PM   #18
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This is generally how every internet discussion involving legal matters ends.
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Old 05-20-2014, 03:01 PM   #19
NOVAbimmer
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Originally Posted by mjpgolf1 View Post
Websites like cars.com and autotrader are only a good reference. They do not show actual transactions of what cars sold for. A seller can ask whatever he/she wants but that doesn't mean that they will actually sell the car for that asking price. You can't gauge what a cars value is based on what some guy priced his car at that is similar to yours.

Unfortunately these cars are dropping like a rock in value and will continue to do so. Part of that is because there are so many neglected e46s on the market that are in just awful condition. You can just about guarantee that 9 out of 10 e46s for sale at any given time are in need of a boatload of work. These bad examples are effecting the prices of even the cars that are meticulously maintained and in excellent shape. Really at this point people are nuts to buy an e46 and put the money into them that they require unless the car is going to be kept for years to come. Otherwise you are literally throwing money down the toilet just to drive a BMW. People are better off just leasing a new one as it is cheaper in the long run.




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That's because they're old German cars with expensive parts.
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Old 05-20-2014, 03:03 PM   #20
choxor
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AFIAK there are no official build statistics.
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