Need Advice - Lexus ISF write off

[wibzo]

So I got a call from insurance company today saying they will not release the car to me because the engineer changed the category from CAT S to CAT B.... How on earth is this possible? I told them to get another independent opinion, so another guy is coming out on Friday to check it again...But even with a CAT B they say I cannot keep the car...They say they will have to dispose of it themselves...What kind of messed up system is this? I told them THIS IS MY CAR. I own it. I can do whatever I want with it. They were just like no, the car is "Not Safe" when it's classed as CAT B and a registered car breaker can only have it. Anyone have any idea what deems a car to be a CAT B? 

[olliesgrandad]

Are they making you a payment on the car? 

If it is a decent sum, in view of all you have posted here I would take the money and rejoice. They may pay you lip service by getting another engineer, but I don't understand why you are so desperate to get this wreckage back. 

Clearly the shell (unsurprisingly) is well bent and unrepairable to a safe standard if they categorise as cat B. 

My understanding is that a cat B is scrap and must be broken for parts  only and the shell crushed all within an authorised facility. That is the law . 

 

[gb1600e]

@wibzo I guess if / when you accept the valuation payment the vehicle becomes the property of the insurance company and that will be in the small print of your policy. They will sell the salvage at the highest price possible to offset "their" loss. That could be to you for the minor categories or an authorised salvage agent for vehicles that shouldn't be repaired, which they then make a profit on the parts that can be sold. Call me a cynic but the second opinion provided by and paid for by the insurance company is highly likely to arrive at the conclusion they want it to.  I have always had the view that there is an unhealthy relationship between insurance companies, inspectors, approved repairers and the salvage industry as between them its potentially just a massive cash generating machine.

If you truly believe it can be safely repaired I would think you need to get a private inspection if they would allow that and fight them if it goes in your favour but at what time and cost?

On reflection and along with the other advice, why bother?  Maybe channel your energies into justifying the highest value settlement you can with all the evidence possible that it was the best ISF in existence.

As always, good luck.

[Linas.P]

22 hours ago, gb1600e said:

 I have always had the view that there is an unhealthy relationship between insurance companies, inspectors, approved repairers and the salvage industry as between them its potentially just a massive cash generating machine.

Yes insurance in UK is generally speaking "goverment authorised fraud"...

However, when it comes to keeping write-off cars... often there are very little difference whenever you keep the car or not... Obviously, depends on value and what car it is ... If that would be like BMW or Audi (any more common car with healthy used parts market), I guess insurance companies could do what you describe - try to auction it to breaker or "salvage" companies, but there is cost associate with this. The least thing they want is for car to sit in the locked park which costs astronomical money rent. I know the guy who was offered more for his US import Mustang if he keeps it - insurance company didn't want to deal with it. When my car was damaged (I know not IS-F) and insurance company was considering to write-it off they didn't even offer an option for me to transfer the car to them - offer was simply "we pay you xxx you keep keep the car".

It being IS-F I am sure insurance company will be looking to dispose it as quickly as possible - there are literally 0 demand for used IS-F parts and repairing it in theory is very expensive, selling with cat-S is nearly impossible. Obviously, here we are talking about little "hacks" where a lot of money can be saved by using part which are common between all IS mk2's, but I doubt insurance look at it this ways, especially if they already deemed the cars write-off.

[wibzo]

Insurance offered £2,500 for the car and it would be taken to a salvage company to either be sold for parts or as is. I have an independent assessor going out at some point to give a final verdict on the category. It seems to all just be dragging on... I would love to get it fixed and back on the road with time. I guess it would be my hobby on the weekends for a while... 

[Twellsie]

23 hours ago, wibzo said:

Insurance offered £2,500 for the car and it would be taken to a salvage company to either be sold for parts or as is. I have an independent assessor going out at some point to give a final verdict on the category. It seems to all just be dragging on... I would love to get it fixed and back on the road with time. I guess it would be my hobby on the weekends for a while... 

sorry, am I understanding you right, they are only offering to pay out £2500 total?

[Linas.P]

19 minutes ago, Twellsie said:

sorry, am I understanding you right, they are only offering to pay out £2500 total?

I thought that is the value of the salvage if you leave it with insurance vs. taking it back. So you can choose say 15000 + car or 17500 and leave car with them. Just guessing obviously, but it falls in line with what I said above - IS-F for insurers and salvages are worthless (as pretty much any rare car), not much market going on with the parts etc. I would definitely get it back for £2500 - only engine is worth more, never-mind rest of the car.

[wibzo]

@Twellsie It's like @Linas.P Said. They offered £8,900 without the car. £11,400 with. Considering my situation the ball is not in my court so I can't say anything. So you guys would advise getting it back regardless and selling parts? the only concern I have with stripping it for parts is like you say, the demand for them and if in the long run I will get more or not. The guy who determines the category is going to determine the final outcome tomorrow (dont ask why it's taking so long). If it's a CAT B they say it's too dangerous for me to have it back at all unless Im a registered breaker, but I did speak to one of the staff who says she will do what she can if I REALLY want it back. 

[Linas.P]

Yes - for cat B, you cannot have it back. I guess they just valued the car too low initially - definitely get your own assessor to look at it and in the end it might work out that car is worth much more, that would change your pay out and as well car category. £11000 is very low considering relatively low miles - the cheapest for sale now is £14000 and with many more miles, no way I would agree with their estimation.

I am not advising you to take car back - I would take it back if I would have an option for £2500, what you decide to do is your own call.

[olliesgrandad]

6 hours ago, Linas.P said:

Yes - for cat B, you cannot have it back. I guess they just valued the car too low initially - definitely get your own assessor to look at it and in the end it might work out that car is worth much more, that would change your pay out and as well car category. £11000 is very low considering relatively low miles - the cheapest for sale now is £14000 and with many more miles, no way I would agree with their estimation.

I am not advising you to take car back - I would take it back if I would have an option for £2500, what you decide to do is your own call.

Don't forget there was a complication mentioned in a now deleted post which it was decided would lower the payment slightly. 

[Linas.P]

Ok... yeah - don't know what I don't know I guess... 

[wibzo]

@olliesgrandad It was taken into consideration, I asked how much it would effect the payout, and I was advised it was just below 10% reduction. 

[olliesgrandad]

6 hours ago, wibzo said:

@olliesgrandad It was taken into consideration, I asked how much it would effect the payout, and I was advised it was just below 10% reduction. 

Not too bad then all things considered.