JonMac says:
> In my case, my first valuation was based on:
> 1. What I paid for the car - (which was nothing because it was a wreck) PLUS
> 2. The value of parts I had bought for it supported by receipts or a
> referenced Excel spreadsheet that could be checked
> 3. The known or likely number of hours work I had done on the car in my
> ownership up to a maximum of 500 hours. This was multiplied by a very nominal
> hourly unskilled labour rate, PLUs
> 4. The value of any work done to the car by a professional - i.e. a repaint.
This estimate is going to be a bit on the high-side, which may be
desirable, but might be difficult to convince an insurance company of
ipso-facto. For example, if you have a $30k car with fairly good
paint on it, and you get it repainted for $10k, you probably *do not*
have a $40k car. And plenty of work done on the car is to just fight
entropy and replace things that are breaking, that doesn't really add
to the cars value, just maintains it.
Let's just hope that the number of us who need to face these issues
is kept to a minimum. :)
Dave
** triumphs@autox.team.net **
Archive: http://www.team.net/archive
|