Re: [bmw] E34 Post-Accident advice

[mkohlbrenner@xxxxxxxxxxx]

Matt Brannock <matt0611@domain.elided> wrote:

> ... my just-purchased 1990 525i. I'm sad to say, the car will
> almost postively be totaled. It all depends on her insurance--
> I have liability only. 

Sorry to hear, but it doesn't sound like you were injured, so
that is good.  The E34 is a fairly sturdy car, thankfully.

> ... I've heard that after a car is totaled, you can purchase
> the car back from the insurance company for a small fee.

Typically, yes, you can get it back by paying its "salvage
value".  Otherwise, they have to go through the whole auctioning
process, which is certainly more hassle for them.  I won't even
try to guess at what salvage would be on this car, but clearly
it is a fraction of book.

> Should I do this if the price is reasonable?  Since the rest
> of the car is still in excellent condition, I was thinking I
> could part out the rest of the car that wasn't crunched.
> Does anyone have any advice as to what is worth selling off
> of the car?

There are quite a number of parts that will fetch into the
$100-$500 range each if in good shape -- interior parts (front
seats, especially), the computer (two if an automatic),
transmission, body parts, differential (more if a limited slip),
engine (if undamaged), etc.  Even things like an OEM stereo or
CD changer will fetch a bit of cash.

> Should I just ebay various parts and see what they go for?

Not a bad idea...

> Or will I end up paying more to buy-back the car than 
> I will make selling parts off of it?

The bottom line is that if you can stand to deal with it, you
can certainly get well into the coupla'-thousand-bux range
selling off parts when all is done.  There's actually a guy at
work here who does this with Bimmers for extra fun money.  He
can make thousands from a late model wreck by parting it out.
It can be a real job to do it, though, dealing with disassembly,
shipping, etc. and deadbeat customers are very real issues.

Base your decision, then, on what the salvage value is and how
much time and hassle you are willing to put into it.

Just as a point of reference, when I totaled a '90 Civic Si,
I bought it back for $400.  That reduced my settlement check
down to ~$2300 if memory serves -- certainly a lower range than
your 5-er.  I then bought another '90 Civic Si and used the
first as a parts car.  I immediately moved over the almost brand
new brakes, the better stereo and the aftermarket rear anti-roll
bar -- all told, close to the $400 already.  Later, I had to
pull the distributor, which saved a bunch.  The new Civic had a
Midas quality exhaust, so when it went, I moved the OEM exhaust
over.  When that went, I was able to get a free replacement from
Honda under warranty.  The parts car still had a lower mileage
engine I had installed, so when I finally sold off the two
Civics, the parts car went for $350 to a guy who wanted the
engine.  He would probably be able to then sell off the other
parts such as the still good Si interior and get back his
investment.

Clearly, in my case, it was well worth it, even if my wife did
complain about having to look at it for two years ;^/

And BTW, don't let the other person's insurance low-ball you
on their payout!  This is definitely negotiable.  Even the
salvage value might be negotiable, although I didn't bother
trying in my case.  Good luck.

Regards,
Mike Kohlbrenner
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