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What's it worth. (Insurance and mortgage queries)

PostPosted: Tue Jan 22, 2019 7:38 am
by jpayne
We are applying for a silly big mortgage at the moment and a question I keep having to answer is the value of assets.
I know sort of what it's taken to build it which covers the insurance side (agreed) but that's only half the story.
So what's a race only (sports sedan)MK1 escort with a new built 400ish hp motec m130 controlled rust free freshly painted with all the bells and whistles worth.
Ap racing brakes, Bilstein coilovers, 6 link holding Hilux axles with kaaz lsd, tilton hydraulic clutch bearing, ap triple clutch, obp adjustable alloy pedal box, new wiring throughout, big alloy radiator and intercooler and oil cooler, new carbon winged seat, 6 point harness. New fuel cell, pumps and piping. 15x9 rims with new 205/50 and 225/40 semi slick race tyres, RSR front spoiler, excellent bumpers, steel arches?

I'm saying 40k on the applications but is that too conservative or silly optimistic.
I am not looking to sell just want it insured properly and to maximise our asset claim as the banks are currently expecting real figures not the made up stuff of a decade ago.
JP

Re: What's it worth. (Insurance and mortgage queries)

PostPosted: Tue Jan 22, 2019 12:15 pm
by jsa
Very difficult to value. Looking at what similar spec cars change hands for in the UK, 40 seems ball park.

Sell it in pieces and I reckon you would get more.

Re: What's it worth. (Insurance and mortgage queries)

PostPosted: Tue Jan 22, 2019 3:48 pm
by jpayne
Not going to sell but was interested in a value that was high but realistic as we need all the ammunition available in our arsenal. We are that close but don't want to be accused of over egging it
JP

Re: What's it worth. (Insurance and mortgage queries)

PostPosted: Mon Feb 18, 2019 9:20 pm
by Matt1975
$40k would seem accurate to me

This is an insurance figure not what someone would pay and there is a big difference

Cheers,

Matt