by apollo562 » Thu Feb 05, 2009 07:13 am
I was recently involved in a auto accident with the other party at fault. My odometer reads 114k miles, but I had a remanufactured engine installed last year (2008). My question is does my remanufactured engine increase the value of what my car is worth? Meaning a bigger check from the insurance company.
Posted: Thu Feb 05, 2009 12:04 pm Post Subject:
My question is does my remanufactured engine increase the value of what my car is worth
Yes Apollo it does..in fact one of the few things that will increase a vehicles value. The adjuster will need all receipts etc...typcially no more than 1/2 the cost will be added...have you let the adjuster know this?Posted: Thu Feb 05, 2009 12:20 pm Post Subject:
Yes, the accessories and external parts do add to the value of the car but only margenally. However, an engine would definitely some extra bucks to the claim. You may have to supply the adjuster with the receipts of all the AME parts that you have added to it in support to your claim.
Do you have any other parts added to the vehicle, like alloy wheels, CD players etc? if so, list them too.
Posted: Thu Feb 05, 2009 02:05 pm Post Subject:
I would say no it would not add value or perhaps very little at best. What it does is maintain the value of the vehicle. The engine was replaced to keep it in running order. If it had not been replaced, the value of the vehicle would have been much lower. A remanufactured engine is basically a used engine. About the same thing that was in the vehicle prior to it going bad.
Posted: Thu Feb 05, 2009 07:51 pm Post Subject:
I would say no it would not add value or perhaps very little at best. What it does is maintain the value of the vehicle. The engine was replaced to keep it in running order. If it had not been replaced, the value of the vehicle would have been much lower. A remanufactured engine is basically a used engine. About the same thing that was in the vehicle prior to it going bad.
Sorry Todd I disagree and have paid claims accordingly...a reman motor will have a warranty and also (generally) way less miles on it than the odometer/body will show...example vehicle is a 2000 s10 with 150k miles...BUT they have a reman motor at a cost of 1500.00 in the vehicle with 50k miles...that motor with 50k on it as opposed to 150k make that vehicle worth more.Posted: Fri Feb 06, 2009 05:26 am Post Subject:
Well, it seems that different adjusters maintain different view points about it. You know friends, it confuses the customer even more when they receive different explanations from different adjusters upon the same issue. I'd like to know that whether it depends upon the personal decision of the adjuster or its the matter of the company's policy?
~Jeremy
Posted: Fri Feb 06, 2009 06:04 am Post Subject:
As always, YMMV and I can see both points of view.
Will a reman engine have less miles? What happens to the engine that was taken out of the vehicle? How is a reman engine any different then taking the old engine out, reman'ing it and putting back in? I have not seen many but I'd think a 30 or 60 day warrenty is going to be typical on a reman engine. Regardless, I'd say a reman'ed engine with an active warrenty _would_ increase the value of a vehicle but still, not much.
Well, it seems that different adjusters maintain different view points about it. You know friends, it confuses the customer even more when they receive different explanations from different adjusters upon the same issue. I'd like to know that whether it depends upon the personal decision of the adjuster or its the matter of the company's policy?
It's not a black and white situation. It really comes down to someone's opinion. Would you pay more for a vehicle is the person told you it had a remanufactured engine in it?Posted: Fri Feb 06, 2009 11:28 am Post Subject:
If the engine was not recently installed, say it was put in a year ago, how would they determine the actual mileage on the newer engine? The speedometer would not have an accurate read and the adjuster would have to try and figure out what the mileage belongs to the old engine and waht mileage belongs to the newer one.
Posted: Fri Feb 06, 2009 11:31 am Post Subject:
Will a reman engine have less miles?
All I've ever seen do...What happens to the engine that was taken out of the vehicle?
junked...How is a reman engine any different then taking the old engine out, reman'ing it and putting back in?
Typcially a reman or rebuilt motor is gone thru carefully and many many (usually all) wear parts are replaced...(ie pistons , valves, etc...cylinders bored etc) ..having your motor rebuilt (typcially)...what ever parts 'seem' bad are replaced...I have not seen many but I'd think a 30 or 60 day warrenty is going to be typical on a reman engine
.most true reman motors (like jaspers) give a 3yr/100k warranty toddRegardless, I'd say a reman'ed engine with an active warrenty _would_ increase the value of a vehicle but still, not much.
guess we disagree a little on the amount...I typcially allow 50% of the cost assuming it's been within the past 2 years...
I'd like to know that whether it depends upon the personal decision of the adjuster or its the matter of the company's policy?
more company than adjuster i'd say..but it's still opinion...if i were an owner i would ALWAYS bring that to the attention of the adjuster for clarification...also there is a big difference between a reman motor and just replacing a cyl. or something that's broke!Posted: Fri Feb 06, 2009 11:55 am Post Subject:
If the engine was not recently installed, say it was put in a year ago, how would they determine the actual mileage on the newer engine? The speedometer would not have an accurate read and the adjuster would have to try and figure out what the mileage belongs to the old engine and waht mileage belongs to the newer one.
The certification for the motor will have a date and mileage on it...lets say it was put in the car on jan 1 2007...with 40k miles...the vehicle had it's registration the next month and showed 150k on the odo...the vehicle now shows (feb 2009) 160k miles...so i know roughly the motor has 50k on it.Posted: Fri Feb 06, 2009 05:23 pm Post Subject:
Creeeeeeeeeeeeeeeeek Thump Thump. Just the sound of me dragging out my soap box and standing on it.
If a new motor doesn't increase the value of a vehicle, why would an insurer ever take betterment on a motor or mechanical part with a depreciable life when replacing one that was damaged as a result of a collision or comprehensive loss with one that has less mile on it or is new and remanufactured. If one feels that a new part extends the life or operation, then it also increase the vehicle's inherent value using the same logic.
Thump Thump, me thumping my chest in exhortation of a minor related rant!
And what's with the 100,000 mile depreciable tables on motors these days. This might have been applicable 20 years ago. The average motor today has a lifespan of at least 150,000 miles with little or no maintenance.
Thump Thump, creeeeeeeeeeeeeek Thud Slam. Just putting the soap box back in the closet.
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