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What's my car worth?

Started by Dino, September 12, 2013, 07:31:01 AM

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Dino

No I'm not selling it but it's time to renew my Hagerty policy.  Because I pad way less than that, I had it valued at $20K which costs me $250/year + $50 roadside assistance.  If that seems high to you, we have Michigan's no fault insurance to thank for that.

Anyway, seems to me that these days $20K would not replace my car if it's somehow lost.  So what value should I stick on this thing?

It's a 69 white hat special that came with a 318 and 904, now 440 HP and 727.  When I'm done with it it will have all the HD stuff the R/T's have and then some.  If that matters.  Original options are A/C, tinted glass all around, light package, wood grain steering wheel, power steering and power drum brakes.  It has the stock am radio and center dash speaker and although I'm adding loads of options, it's nothing that came stock on the car.  Originally F8 green in and out with white top.  Now white with black top but still sporting the stock interior (not my choice).  Seats are ripped and carpet is shag by now but pads and panels are very nice.  Console in very good shape but chrome and black paint are fading.

Some bubbling on the bottoms of quarters, small hole in rear crossmember, visible from underneath, center trunk pan has pinholes.  After blasting I would have to replace trunk floor, lower quarters and partial rockers and likely rear valance.  Wheel wells and lip are untouched with no signs of rust.

This is not a pedigree car but it's my baby and if lost I would want to replace it asap.  I know that adding the modern touches doesn't do much if anything to the value so I will write those off.  Not that big of an investment anyway.

I guess the key here is that the car really doesn't need anything to run, I've been driving the pants off of it for a few years and worked out pretty much all the bugs.  After my current projects are done, the car should be as good as anything out there.

Sorry to rehash the same old pics but it's all I have on this pc.

Extraordinary claims require extraordinary evidence.

RIDELIKEHELL

I don't want to guess but don't they require an appraisal to get agreed value?
AMD POSTER BOY

1968 CHARGER R/T  http://www.youtube.com/user/ridelikehell73

Dino

Quote from: RIDELIKEHELL on September 12, 2013, 07:40:35 AM
I don't want to guess but don't they require an appraisal to get agreed value?

Nope, never did one before.  Besides, I wouldn't accept an appraisal from anyone but the people that know the market, and that's you guys.  Ask 5 different appraisers and you get 6 different answers.
Extraordinary claims require extraordinary evidence.

RIDELIKEHELL

Quote from: Dino on September 12, 2013, 07:42:01 AM
Quote from: RIDELIKEHELL on September 12, 2013, 07:40:35 AM
I don't want to guess but don't they require an appraisal to get agreed value?

Nope, never did one before.  Besides, I wouldn't accept an appraisal from anyone but the people that know the market, and that's you guys.  Ask 5 different appraisers and you get 6 different answers.

I had one done & sent it to Hagerty for my car :shruggy:     I was happy with the $ amount  :lol:
AMD POSTER BOY

1968 CHARGER R/T  http://www.youtube.com/user/ridelikehell73

DadsCharger00

So my car is similar to yours. No rust spots however....least anything visible  :2thumbs:  I had mine insured this year for 25 through Hagerty.  Only thing they asked me for was like 5 pictures. Inside, outside, and underhood. Haven't heard anything back from em since.

darkside

Quote from: DadsCharger00 on September 12, 2013, 07:55:29 AM
So my car is similar to yours. No rust spots however....least anything visible  :2thumbs:  I had mine insured this year for 25 through Hagerty.  Only thing they asked me for was like 5 pictures. Inside, outside, and underhood. Haven't heard anything back from em since.

Does hagerty require the car to be kept in a fully enclosed shop. Grundy  won't insure classic cars unless it in a  fully enclosed carport.

Dino

Quote from: darkside on September 12, 2013, 08:18:45 AM
Quote from: DadsCharger00 on September 12, 2013, 07:55:29 AM
So my car is similar to yours. No rust spots however....least anything visible  :2thumbs:  I had mine insured this year for 25 through Hagerty.  Only thing they asked me for was like 5 pictures. Inside, outside, and underhood. Haven't heard anything back from em since.

Does hagerty require the car to be kept in a fully inclosed shop. Grundy  won't insure classic cars unless it in a  fully inclosed carport.

Yes it needs to be stored in a closed building. 
Extraordinary claims require extraordinary evidence.

F8-4life

20k is being pretty reasonable for that car, being that 15k buys you half-junk nowadays.
I'd say it's worth 25k, insure it for 30k and if anything ever happens maybe a 69 r/t would make the pain go away.

Dino

Quote from: F8-4life on September 12, 2013, 08:31:03 AM
20k is being pretty reasonable for that car, being that 15k buys you half-junk nowadays.
I'd say it's worth 25k, insure it for 30k and if anything ever happens maybe a 69 r/t would make the pain go away.


I would never buy an R/T, I'll leave those for the people who care about pedigree.  Give me a mutt any day so I can do with it what I want. 

I think $20K is reasonable as well, but I doubt I'd get a similar car for it right now. 
Extraordinary claims require extraordinary evidence.

F8-4life

Ok maybe not an R/T.. I just meant if anything happened to your old ride you could ease the horror by using it as an opportunity to step up into something you really like.

Dino

Quote from: F8-4life on September 12, 2013, 08:38:49 AM
Ok maybe not an R/T.. I just meant if anything happened to your old ride you could ease the horror by using it as an opportunity to step up into something you really like.


That would be nice!   :yesnod:

In essence I'd be looking for roughly the same car.  Don't care about color much and don't need many options although I do want A/C and the light package.  The latter can be added easily but it would be nice to have all the A/C stuff in the interior.
Extraordinary claims require extraordinary evidence.

Dino

Just got a quote from Hagerty:

If we were to increase the value of your 1969 Dodge Charger to $25,000 effective on the renewal date (September 20, 2013) your new renewal total would be $335. If we were to increase the value to $30,000 effective on the renewal date, the new renewal total would be $372.

That's with roadside assistance.  My current bill would be $300 even.

Thoughts?
Extraordinary claims require extraordinary evidence.

1974dodgecharger

Quote from: RIDELIKEHELL on September 12, 2013, 07:40:35 AM
I don't want to guess but don't they require an appraisal to get agreed value?


im with american modern insurance (sister of geico) they send an apparaiser for mine, showed fender tag, told them non matching since it was buitl in dec 67, etc...they appraised mine at 32k if lost, demlosihed, etc.....


if i upgrade things i need to report it to increase its value.

Dino

Hmmm, maybe it's a Michigan thing.  We don't have appraisals or inspections or smog tests.  We don't even have to show the car when registering the title.  But in return we do get gouged on insurance rates and many of the roads here seem to belong in some war torn former country.
Extraordinary claims require extraordinary evidence.

1974dodgecharger

Quote from: Dino on September 12, 2013, 08:33:31 AM
Quote from: F8-4life on September 12, 2013, 08:31:03 AM
20k is being pretty reasonable for that car, being that 15k buys you half-junk nowadays.
I'd say it's worth 25k, insure it for 30k and if anything ever happens maybe a 69 r/t would make the pain go away.


I would never buy an R/T, I'll leave those for the people who care about pedigree.  Give me a mutt any day so I can do with it what I want. 

I think $20K is reasonable as well, but I doubt I'd get a similar car for it right now. 


look at this way dino.  whats it gonna cost u to find a car in similar condition as yours, personally from what i see roughly 25k to 30k.  we all seen what 20k gets you these days yes nice condition, but drivable barely.  either the body is good and mechanics are bad or vice versa

Dino

Quote from: 1974dodgecharger on September 12, 2013, 09:02:10 AM
Quote from: Dino on September 12, 2013, 08:33:31 AM
Quote from: F8-4life on September 12, 2013, 08:31:03 AM
20k is being pretty reasonable for that car, being that 15k buys you half-junk nowadays.
I'd say it's worth 25k, insure it for 30k and if anything ever happens maybe a 69 r/t would make the pain go away.


I would never buy an R/T, I'll leave those for the people who care about pedigree.  Give me a mutt any day so I can do with it what I want. 

I think $20K is reasonable as well, but I doubt I'd get a similar car for it right now. 


look at this way dino.  whats it gonna cost u to find a car in similar condition as yours, personally from what i see roughly 25k to 30k.  we all seen what 20k gets you these days yes nice condition, but drivable barely.  either the body is good and mechanics are bad or vice versa

That's what I'm thinking.  I really can't find anything lately that comes close to mine for the price I paid.  I know the deals are out there but there's fewer each day.

Not counting roadside assistance, it would cost me $322 to have it insured for $30K, $372 with (and yes I am keeping it, you never know).  I don't have any limitations with the car except mileage but I'll never reach that in a year and even if I did, nobody checks it.  They don't even know what my current mileage is. 

How does the cost compare to others' rates?

I think I'll just go with the $30K coverage though.  I'd be kicking myself if something happened and I can't buy the car I want because I wanted to save a few bucks.  Yes I have been known to do that.   :lol:
Extraordinary claims require extraordinary evidence.

Back N Black

Sounds a little high for insurance, I'm paying $325 a year for appraised value of 45 grand.

Dino

Quote from: Back N Black on September 12, 2013, 09:12:28 AM
Sounds a little high for insurance, I'm paying $325 a year for appraised value of 45 grand.

I think it's the no fault part in Mi, we have one of, if not the, highest premiums in the country.

Does that $325 include anything else like roadside assistance or is that the bare premium?
Extraordinary claims require extraordinary evidence.

Back N Black

That's full coverage, with $100 deductible and no roadside assistance

1974dodgecharger

220 for mine with roadside assitance,which i used before when i ran out of gas. that include insurance premium.

moparstuart

  insure it for 30k for sure

if you wanna shop your insurance  calll my buddy adam
with the national corvette Museum they have great coverage and beat the hell out of all the other companys I had bid my insurance .  

    Adam Boca
Insurance Agent
NCM Insurance Agency
350 Corvette Dr
Bowling Green, KY 42101
Direct Toll free: 877.678.7626
Local: 270.467.8853
GO SELL CRAZY SOMEWHERE ELSE WE ARE ALL STOCKED UP HERE

Mopar Nut

Quote from: moparstuart on September 12, 2013, 09:48:59 AM
 insure it for 30k for sure

if you wanna shop your insurance  calll my buddy adam
with the national corvette Museum they have great coverage and beat the hell out of all the other companys I had bid my insurance .  

    Adam Boca
Insurance Agent
NCM Insurance Agency
350 Corvette Dr
Bowling Green, KY 42101
Direct Toll free: 877.678.7626
Local: 270.467.8853
I will thanks for the infor.
"Dear God, my prayer for 2024 is a fat bank account and a thin body. Please don't mix these up like you did the last ten years."

Dino

I did the online quote for NCM and was quoted $454 with roughly the same coverage I have now.  When I change ONLY the state, in this case Il instead of Mi, it goes down to $269.

Nice huh?   :icon_smile_blackeye:
Extraordinary claims require extraordinary evidence.

moparstuart

Quote from: Dino on September 12, 2013, 10:01:45 AM
I did the online quote for NCM and was quoted $454 with roughly the same coverage I have now.  When I change ONLY the state, in this case Il instead of Mi, it goes down to $269.

Nice huh?   :icon_smile_blackeye:
call adam personally  , i bet you will get a way better quote 
GO SELL CRAZY SOMEWHERE ELSE WE ARE ALL STOCKED UP HERE

Aero426

It pays to shop your insurance.    Hagerty has ALWAYS been the most expensive any time I ask for a quote.

I recently requoted my policy.

For a zero deductible policy on the street Superbird at $95,000 value and two sports cars at $10,000 each.

Hagerty: $967 annually. No fixed mileage limits

American Modern (AMIG): $623 Mileage on the three cars: 1000/1000/3000

Classic Collectors: $510 Mileage on the three cars 1200/1200/6000. Also, by going to a $500 deductible on the Superbird, the
premium dropped to $405 annually. Again, this is for agreed value, and is less than half the rate of the Hagerty quote. But
Hagerty does give you a free subscription to their magazine.

What are the other differences? AMIG has $2000 of spare parts coverage per car, Hagerty $750, Classic Collectors $500.
AMIG provides for up to $200 in towing expense, Classic Collectors provides $100. Hagerty offers towing as an option.
AMIG has full safety glass coverage for addt'l premium, Classic Collectors incudes it free.

Every situation is going to be different depending on where you live, the cars you want to insure, the coverages and extra options
you select. Some providers like Hagerty do advertise a more liberal use policy.