[JustinHEMI]

Originally Posted by omaralt

so if you dont mind me asking.. how does this work?

does your insurance company now work with the new owner?

No, I'm taking "cash settlement" from insurance. Basically, they're paying me what they would have paid the shop for the repairs, and then the owner is paying me the number he and I agreed upon. He'll have to buy all the parts himself and put his own labor into repairing it.

I owe the shop some labor for disassembly, inspection, and reassembly, but that's it.

Edited to add that I've been working very closely with the shop through the disassembly and inspection process and am confident that they extracted 95% of the cost of the repairs. There's always a little unknown, but the guys have been great and showed me how deeply they looked at everything. One of them says they "nailed" the estimate. That makes me confident I'm getting all I can out of it since I can't get it totaled.

[M2siast]

Originally Posted by JustinHEMI

No, I'm taking "cash settlement" from insurance. Basically, they're paying me what they would have paid the shop for the repairs, and then the owner is paying me the number he and I agreed upon. He'll have to buy all the parts himself and put his own labor into repairing it.

I owe the shop some labor for disassembly, inspection, and reassembly, but that's it.

How much are we talking here? Comfortable with disclosing numbers?

[JustinHEMI]

Originally Posted by M2siast

How much are we talking here? Comfortable with disclosing numbers?

No that's between me and the buyer.

[omaralt]

Originally Posted by JustinHEMI

No that's between me and the buyer.

man we've been along this entire journey with you and now you gonna stiff us??

[JustinHEMI]

Originally Posted by omaralt

man we've been along this entire journey with you and now you gonna stiff us??

Well we now know used M2s can go for under MSRP (One sold on facebook for 66K), take that, assume a reasonable depreciation for a car with an accident history on carfax, subtract the cost of repairs, and you can get pretty close.

[omaralt]

Originally Posted by JustinHEMI

Well we now know used M2s can go for under MSRP (One sold on facebook for 66K), take that, assume a reasonable depreciation for a car with an accident history on carfax, subtract the cost of repairs, and you can get pretty close.

eh too much math

[M2siast]

Originally Posted by JustinHEMI

No that's between me and the buyer.

Boo

[sl0m0]

Originally Posted by JustinHEMI

Well we now know used M2s can go for under MSRP (One sold on facebook for 66K), take that, assume a reasonable depreciation for a car with an accident history on carfax, subtract the cost of repairs, and you can get pretty close.

That Carfax depreciate is your biggest loss, but you would have seen it if the car was repaired for you.

[JustinHEMI]

Originally Posted by sl0m0

That Carfax depreciate is your biggest loss, but you would have seen it if the car was repaired for you.

Yep that was all part of the hmming and hawwing I had to do. Not letting it sit on a lot for untold months won out. (Assuming you meant "wouldn't" have seen it...).

[sl0m0]

Originally Posted by JustinHEMI

Yep that was all part of the hmming and hawwing I had to do. Not letting it sit on a lot for untold months won out. (Assuming you meant "wouldn't" have seen it...).

I meant that: You would have seen that loss either way.

[RoGo330i]

Originally Posted by JustinHEMI

To put a final conclusion on this, it is sad that it was the journey to the end. All things settled with insurance and buyer now, it's just a matter of getting it into their hands.

I'm taking my losses now, and I'll recover in time for the Z4 or another M2 this time next year. The losses are there regardless of when I take them, now, or 10 years from now. I'm just cutting them now. Totaling would have been a much better option for me, but it is what it is. I shouldn't have hit deer and skidded off the road if I didn't want losses.

The main driver to that is the uncertainty of parts availability. It would be one thing if they said they could get everything have the car back to me in a month, but with them saying who knows when parts are available, that's really what's driving me to cut it now.

The buyer is taking the project for themselves and can let it sit for months and work on it as things become available.


I'll hang out, as noted before, and be in another car before too long.

It feels like this has been our summer tale of accident and hope. The best part of the story is you weren’t injured by those rambling road deer as they can be deadly.
Glad to hear you have an end point that works for you. Please let us know what Forum you’ll be on next.
Respectfully, RoGo330i