Buying back stolen car, insurance settled
Discussion
My wife's car was stolen around 6 weeks ago in a burglary to our home, where the keys were taken. Insurance paid out three weeks later and we bought a replacement but this week the Police have found the car and recovered it. Due to circumstances and the location it was found, we know it hasn't been thrashed or abused and has just been parked up for 6 weeks so we're considering buying it back from the insurance company.
Is this normal, or even possible? What are the future implications?
We're thinking that if it was cheap enough to sell it on ourselves would help to recoup some of the losses or as we know that it hasn't been abused and we know the history, sell it to my parents at cost - my mum would keep it forever so any Cat D/X or whatever markings won't bother them for future resale value.
Is this normal, or even possible? What are the future implications?
We're thinking that if it was cheap enough to sell it on ourselves would help to recoup some of the losses or as we know that it hasn't been abused and we know the history, sell it to my parents at cost - my mum would keep it forever so any Cat D/X or whatever markings won't bother them for future resale value.
My wife spoke to her insurance company today and they will not entertain a buy back after the claim has been settled. They have however given the details of the route it will take back into market (auction, unsurprisingly) so we'll just have to keep an eye on that. It's an unfortunate situation as while in normal circumstances we would have just let it go, we do know that it is s good car and it will still be fine due to the way it was recovered and would have given the insurance company the guide auction price for it straight up, but they aren't interested.
It's Copart. Are joe public allowed to buy from them?
I've registered on the website and apparently need to pay a £50 fee but I'm not going to do that if I can't actually buy. I can view the current list of stock and sale dates, but unable to create a search with email notifications as there are no cars of the same make/model currently listed.
I've registered on the website and apparently need to pay a £50 fee but I'm not going to do that if I can't actually buy. I can view the current list of stock and sale dates, but unable to create a search with email notifications as there are no cars of the same make/model currently listed.
Does anyone here have any insight into values of stolen & recovered vehicles? Trying to gauge roughly how much this vehicle might sell for if the forecourt price is around £15k.
Is anyone registered to buy from Copart that would like to bid on the vehicle for us - PM me if so. I could register and bid myself but need to pay the £50 charge initially.
Is anyone registered to buy from Copart that would like to bid on the vehicle for us - PM me if so. I could register and bid myself but need to pay the £50 charge initially.
sonnenschein3000 said:
OP if you don't mind me asking, why would you want to buy that particular car back if you've already bought a replacement? Was it a special/rare-spec vehicle?
No, nothing special. In short, hoping for a bargain to be bought by a family member as we know where it went (or rather didn't) and the history after it was stolen.sonnenschein3000 said:
Its probably more hassle than its worth IMHO, especially if you've already bought a replacement.
I know its irritating that you had already bought a replacement before the police recovered it, but unfortunately its just one of those things.
What makes it a hassle?I know its irritating that you had already bought a replacement before the police recovered it, but unfortunately its just one of those things.
I'm working on the presumption that the cost of buying a car categorised as stolen/recovered through Copart is going to be far less than buying one from a forecourt, or even a private seller which is why I was curious about the value. Can you assist with that? Do you buy vehicles through Copart?
The car is still under manufacturers warranty so that isn't a worry. As I mentioned earlier we know exactly what has happened to the car and where it went after it was stolen (we've also seen it and it is not damaged) and as a result we would have no problems buying it back.
The car is still under manufacturers warranty so that isn't a worry. As I mentioned earlier we know exactly what has happened to the car and where it went after it was stolen (we've also seen it and it is not damaged) and as a result we would have no problems buying it back.
TallPaul said:
I can understand you not wanting to reveal the car or the auction location/date for fear of bumping up the price but once its sold can you report back with the details? I'm going to guess if its German, pretty much undamaged and just stolen recovered, it'll sell for 20% below top retail plus fees, maybe more...
It finally appeared on the Copart listings yesterday so I had a chat with my parents about whether they were still interested in buying it, and they've decided that the time isn't quite right for my mum to move on from her current car so they will be giving it a miss.It's a 2016 Mazda CX-3 and is the only one listed on the site currently if anyone wants to view, it will be going to a physical auction on Friday. Since we saw it around four weeks ago it seems to have lost a piece of trim from the side. The lot number is 50658777.
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