Written off Car - Salvage Value from Insurance Company?

UPDATE: had to go through ombudsman to get RACV to organise selling the car

Our car got rear-ended and the back door and suspension was badly damaged. We were not at fault and the other party had insurance with RACV so we ended up dealing with them ourselves (we have third party). The car is a year 2000 Prado with extremely low kms (150,000), and in great condition. The car ended up being written off and after a lot of arguing with RACV they gave a fair offer -$2k for the salvage fee. They want to leave the car with us and get us to sell the car for salvage. It seems pretty unlikely that the car is worth $2k for the salvage because car scrappers usually offer really low numbers. How much can you expect to salvage a car for? And is it reasonable to get RACV to sell it for us if they think it's worth $2k?

Comments

  • +2 votes

    You can tell them you want full fair offer as agreed as you dont have the time to run around selling the car. Also, tell them that you are getting the rental car from https://www.notmyfault.com.au/ or any other such company till the time the case is settled.

    • +1 vote

      please get a car from a normal rental companies not those "right2drive" or "not my fault" or the barrage of others, they are blood suckers.

  • +1 vote

    They might think you can part it out for more than $2k and would like that option. Prado are quite sought after so selling parts shouldn’t be too hard. The engine transmission combo could be worth that.

    Given they are more like $10-14k I hope they are giving you a decent amount of cash too.

  • +1 vote

    Put an advert on gumtree, selling it for $3500ono available at the end of the month and see if you get any inquiries?
    If not, insist they pay out.

  •  

    2k for a smashed prado? I bought a good low km one for 1.5k. Ring up wreckers and ask them what they would pay for one, you will probably get offers of $500…

  •  

    $4.5k for a 18 year old prado. Who pays these crazy prices?
    https://www.carsales.com.au/cars/results?q=((Service%3D%5BCarsales%5D%26(Make%3D%5BToyota%5D%26Model%3D%5BLandcruiser%20Prado%5D))%26Year%3Drange%5B2000..2000%5D)&sortby=~Price

    •  

      Prado/LandCruiser have always had amazing resale.

      You'd be surprised what people pay for 1-2yo ones, it's like they forget about stamp duty

  • +1 vote

    Do you have comprehensive car insurance? If so, why don't you just deal with your own insurance who represents you. They will pay you whatever your policy states (fair market value or agreed value) and they will recover funds from the other insurer themselves.

    Since you're not at fault, you won't have to pay any excess

    •  

      OP stated that they had Third Party in second sentence.

      (we have third party)

      •  

        Oookay… That doesn't say anything about comprehensive. Does he/she ONLY have third party and that's why?

  •  

    My scenario, subaru sti. Slavage price $1750. Sold it 2 days later dor $10k.