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2000 BMW M5 LeMans blue/Caramel
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Discussion Starter #1 (Edited)
Hello from Canada,

I never thought I'd start posting on this forum in such a heartbreaking situation.

My Dinan LeMans Blue / Caramel M5 was recently T-boned and the insurance is leaning toward declaring it a total loss.
I'm absolutely crushed and not sure what to do. It is my dream car and I still can't believe what happened. The silver lining is that I am ok, barring some whiplash. But it's hard to see these positives just yet.

I don't think it can be rebuilt without spending a truckload of money. The hit was on the passenger side front and rear doors. B pillar is bent inward and so has the rocker panel. Hit was square between the two wheels, so wheels are ok. Engine and trans are ok. Interior is in good condition, considering what happened and had minor wear before the crash.

The adjuster has not assessed it yet. But I foresee being low balled and pressured into accepting a settlement that doesn't reflect replacement value for an M5, let alone one with my color spec.

1. I'm going to use Canadian listings (only 5 for sale nationally) to counter the adjuster. Are there any other things I can do to make sure I get a fair value for my loss?

2. I would like to buy back the car. I have no space or tools to part it out, but I'll see if I can work with my mechanic on that. What is a reasonable buy back value I can pay to get it back?

3. Would any of you be interested in purchasing the totaled car from Toronto? I can share photos and more details if you are interested.

If I can leave you with anything, it is that appreciate every minute of what you drive. And have your cars insured to an agreed upon replacement value.

Regards,
Tapas
 

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that really sucks. I would buy it back no matter what and even though you dont have space, parting it out yourself or selling it to someone to part out would help you recoup some. if they low ball you see if you can get a low buyback price.
 

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2000 BMW M5 LeMans blue/Caramel
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Discussion Starter #3
I agree.
I want to sell the totalled car as whole, depending on how much they would charge me. I would part it out, but it wouldn't be ideal for me.

Negotiating on buy back cost is a good idea. Thank you.
 

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2002 M5, Imola / Imola
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1,690 Posts
Sorry to hear this. I had to go through this with an old and obscure Audi a few years back. They gave a bunch of BS comps based on wrong models and "adjustments" because they couldn't find a single record of a car like mine for sale previously.

What I learned, is they cannot force you into a settlement. And do NOT accept the first offer. Their job is to give you as little as possible and the first offer WILL be a low ball, you can always get more. Just keep highlighting the condition your car was in and its rarity. Make sure their comps are legit too...I've heard of some creative methods of finding comps like asking a dealer hypothetically what they would sell a car for, ect... If there aren't any realistic comps on the market, that's not your fault and you can use it to your advantage.

Good luck!
 

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2000 BMW M5 LeMans blue/Caramel
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Discussion Starter #6
Thanks for sharing that your experience. This gives me some perspective on what to expect. I'm sorry for your loss.
 

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Is it too soon to call dibs on parts? I've got an LMB and have been searching high and low for new bumper covers and a trunklid.

Seriously though... I hope everything works out in your favor. One of the hardest things about owning an old special car is knowing if you get into an accident, you'll get boned once by the other driver, and reamed again by insurance. We all really should look into an 'agreed' upon value policy.
 

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2000 BMW M5 LeMans blue/Caramel
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Discussion Starter #8
Is it too soon to call dibs on parts? I've got an LMB and have been searching high and low for new bumper covers and a trunklid.

Seriously though... I hope everything works out in your favor. One of the hardest things about owning an old special car is knowing if you get into an accident, you'll get boned once by the other driver, and reamed again by insurance. We all really should look into an 'agreed' upon value policy.
The accident hasn't been appraised yet. So it is early.

I'd like to see what they offer and how much I can buy back the car for. If I do buy it back, I would want my car to give life to other M5s.
I'm not sure if I will part it out or sell the whole car as is yet.
You're absolutely right. Agreed upon value policies are must for cars like ours.
 

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2009 BMW E63 M6, Sapphire Black
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Its pretty upsetting that ins co do this. when you call and ask what would be the value if I totaled the car today, they will not give you and answer. that I why I insure what I can with Hagerty or the like. they let you declare value, and you pay accordingly.
 
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Hi,

I saw a rolling M5 shell in California advertised on FB marketplace earlier today. have it shipped over and your mechanic transfer everything from your car into that? I think it was LMB as well !

Cheers, Dennis!
 

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2000 BMW M5 LeMans blue/Caramel
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Discussion Starter #11
Hi,

I saw a rolling M5 shell in California advertised on FB marketplace earlier today. have it shipped over and your mechanic transfer everything from your car into that? I think it was LMB as well !

Cheers, Dennis!
That's a good idea! I need to see if my insurance company decides to brand the title or not.
 
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