Question about buying back my totalled 355

Ok, so the car is destroyed, save for the engine, transmission, two wheels and a door.

The engine just recently had 10 grand worth of service done (including belt and such). The insurance is going to get back with me on a buy back price. Does anyone have an idea of what would be a good amount?

 

Man, this is slippery ground unless you know exactly what isn't broken in the car. Figure that a relatively unmolested wreck has got a bunch of neat parts that are salvageable. The big ticket items might take you a while to sell. Without looking at the car there is almost no way to guess what a decent salvage price is. Post a few pix if you can. Even then we'd be guessing.

I guess, if it were me, I'd make a list of the parts that would be salvaged and could be sold. You can total the obvious ones, then guess at the miscellaneous ones. Divide by 2, deduct some storage and carrying costs and there you go. For example, engine and drive line $20K, wheels about $400 each, door around $1000, miscellaneous junk you can gleen maybe another $5K (you' be surprised at how these things add up). Hmm, that's around $27K divided by 2 less about 6 months of carrying costs, so I'd guess $12K maybe would be my max.

Simple math, not really reflective of your situation, but just an example.

 

Please post pictures!

 

This guy (redliner) just parted out a 95 355 on ebay.

you can go to the link below which is completed listings and ad up all the items sold by redliner, but wait until his auction for 355 parts is finished on Aug 1, at 19:41:00 PST for a total.

That would give you an idea of what someone else did.


http://search.stores.ebay.com/ferrari-95-355_eBay-Motors_W0QQcatrefZC5QQdfspZ1QQfisZ2QQfiscZc6001QQfromZR7QQfrppZ50QQfrtsZ0QQnojsprZyQQnojsprZyQQsacatZ6000QQsofpZ4

 

The engine itself is worth about 40 grand, the transmission, clutch, differential, etc. maybe another 30 grand! And don't forget about all those little sensors, thermocuples, ECUs, etc. That car is worth big bucks. The 355 parted out is worth at least $150,000.

 

IF u sell the parts

 

John----any chance u can post a few pics with the VIN? Would like to add it to the registry---Sorry to hear about the car,...

 

John,

Have they given you the check for your car yet?

If not it gets easier. I think they total the car at 80 percent. Some will go at 70 or 75 but usually no higher than 80. Ask them where their limit is and then have them just write you a check for that amount. You get the check and the car is still yours. And it will not have a salvage title. But of course in this case the title doesn't matter......

 

I don't have pics at the moment, as the car is at a body shop in Dallas, and I'm on the west side of Fort Worth.

I will tell you this, estimated damage is hovering around $60K. I will try to get a more detailed list of what is trashed and what is not here in the next couple of days.

The replies have been very helpful, and I do appreciate them.

 

Is the engine really worth $40k? If so I will make someone a deal and sell my '99 355 motor with 12k miles for $35k. Just PM me!

 

I don't think someone will pay 40K for an engine.......

 

look at a different side: Great track car. Then you can drive the c**p out of it and not care about the flash.

 

Used engine will sell about 12-15K in the trade, maybe 18-20 if complete and serviced.

most other bits figure 40% of retail, some will get a higher %, some won't sell.......