My latest bad idea ;)

dammit Toxic... go spoiling everything... will at least make the effort to check it out in person first :P
 
Bad idea, not to mention I've heard the gearbox on the Z4 is atrocious, but that's open to opinion I guess
 
Lets say you did buy it, you insure it and the insurance is more expensive.
On top of the premium increase they normally only pay 30% out for code3 should you write the car off.
Sounds like a bad idea to me.
On a side note a mate of mine bought a really well fixed up fortuner which has served him very well and he loves the thing.
 
I think you can, but the premium will be ridiculous...

If you are hellbent on the car, offer the guy R25k cash...
 
ToxicBunny said:
I think you can, but the premium will be ridiculous...

If you are hellbent on the car, offer the guy R25k cash...
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Bit low IMHO, depends on what's still good in the car the owner could probably make a fair bit at a scrap yard. Hence the R50,000 I mentioned earlier. OP should buy it and drive the **** out of it with only Third Party, Fire and Theft insurance to keep costs low. If something breaks or you're in an accident, sell the leftover bits to a scrap yard to recoup as much as possible and move on with life.

Will probably still work out at less of a loss than the depreciation on a similar, non-code 3 model.
 
mic_y said:
dammit Toxic... go spoiling everything... will at least make the effort to check it out in person first :P
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Do as much checking out as you want. If the vehicle has been involved in a serious accident, chances are that it has integrity issues to the chassis. At best the vehicle will be classified a code 3 or rebuilt vehicle. It's book value will become non existent. Motor dealers will not take it as a trade in. Book value will b e as much as 40% to 75% below the usual price asked for a code 2 of same ilk.

So unless you are looking for spares, do not waste your time or money. You will be sorry.
 
TehStranger said:
Bit low IMHO, depends on what's still good in the car the owner could probably make a fair bit at a scrap yard. Hence the R50,000 I mentioned earlier. OP should buy it and drive the **** out of it with only Third Party, Fire and Theft insurance to keep costs low. If something breaks or you're in an accident, sell the leftover bits to a scrap yard to recoup as much as possible and move on with life.

Will probably still work out at less of a loss than the depreciation on a similar, non-code 3 model.
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Start low is my motto..... you can only work up.. if you start high, you can't work down.

I doubt a scrap yard would pay more than R25k for the vehicle anyway...
 
ToxicBunny said:
Start low is my motto..... you can only work up.. if you start high, you can't work down.

I doubt a scrap yard would pay more than R25k for the vehicle anyway...
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Fair enough, just wouldn't want to scare away the seller by going too low.

Come to think of it I'd buy the thing for R25k. @ OP - If you don't follow through with it let me know and I'll try lowball the guy into submission. :p
 
hahaha :) will do. Am meeting the seller to have a look at the car at greenstone tomorrow... see what happens from there...
 
Most cars have seen a panelbeater's workshop at one time or another, for minor or major repair work.

A car that has been properly repaired, can be as good as new if the damage was not too severe.

A Code 3 car has been written off, i.e. deemed irreparably damaged by the insurer, or just uneconomical to repair (repair cost > market value). Yet, you still find these Code 3's in the market, which usually means that whoever did the repairs has taken shortcuts or used secondhand/pirate parts for the repair. Do you want to drive a car like that which is potentially unsafe?

Stay far away.
 
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Blue Shirt said:
Most cars have seen a panelbeater's workshop at one time or another, for minor or major repair work.

A car that has been properly repaired, can be as good as new if the damage was not too severe.

A Code 3 car has been written off, i.e. deemed irreparably damaged by the insurer, or just uneconomical to repair (repair cost > market value). Yet, you still find these Code 3's in the market, which usually means that whoever did the repairs has taken shortcuts or used secondhand/pirate parts for the repair. Do you want to drive a car like that which is potentially unsafe?

Stay far away.
Click to expand...

I've seen vehicles with ZERO structural damage get written off because the bodywork costs a fortune to replace. Its not always a death trap on wheels
 
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