Retail value of 2000 Hilux 2.7 DC 4x4?

[Senyetse]

Anyone know what the retail value for a 2000 2.7i Raider double cab 4x4 is? 195 000 km and very good condition. Tuffstuff wants to insure my vehicle for R75000. I reckon that's a bit on the low side.

[Ali3n]

My suggestion would be to go and get a valuation by Toyota. (Written) including accessories an contact RSA agri and insure according to the valuation for replacing your van.

[Bos Vark]

ek het ook die probleem. Samtam verseker ook my bakkie vir R 75000.00. Waar gaan jy dit weer kan vervang vir die bedrag!!!!!! :evil: :evil:

[Senyetse]

Is dit nou retail of markwaarde? Soos ek verstaan is retail hoer as mark.

[Bos Vark]

Dit is retail waarde. Trade is nog laer.

[Senyetse]

Damn, die goed verkoop vir baie meer as dit!

[dalkill]

:evil:

dit wat my so dryf na drank.
Is this valuations monitored by some regulatory body? Or do they just make up these numbers?
No way you going to find a DECENT 2.7 for that price. Once in blue moon geluk ja, but that should not push the average down that much.

I'm sure it's simple task to use any of the vehicle registration offices DB to get an average ???

[Senyetse]

No way you going to find a DECENT 2.7 for that price. Once in blue moon geluk ja, but that should not push the average down that much.

Exactly! If I add the accessories and canopy then it gets to about R90 000 that I'll get if I suffered total loss but I'd still not be able to replace my vehicle with something similar. Is that not the point of insurance, to put you back in the position you were in before the loss?

[Bos Vark]

Dit is presies waaroor ek en hulle slaags raak. As daar iets nou gebeur kan jy vir jou n sfa koop, en as daar met hom iets gebeur is jy op die voete.

[Cheetah Drakie]

@ Charles.
That was my reasoning too. That the insurance should enable you to replace/restore your vehicle. That was until I got involved in a legal wrangle with an Insurer. Boy did I get a wake up call. When I wanted to replace wrap around bull bar as it was, I was told that it must be repaired as "economically" as possible.

Nah! Insurance is a scam! :x

They were even happy to use pirate parts because they are cheaper. You have no say in the matter.

[GeorgeJvR]

Bought "NAAM LOOS" For R100 000.00 and spend a good R20 000.00 on it.
Insurance only willing to cover for R75 000.00 od.

[Senyetse]

Well I've sent an e-mail to the broker asking if a valuation from Toyota will be accepted. Will see what he says...

[pietpetoors]

s this valuations monitored by some regulatory body?

As far as I know they also work on those highly in-accurate stupid booklets the dealers use

This is a problem on all old vehicle which actually keep their value.
It is those stupid boekie that drive our valuable Hilux'es prices down
Years ago I had a Golf Bakkie, at the time you could not get one for under R30k but insurance only covered it for R10k

[Ali3n]

Well I've sent an e-mail to the broker asking if a valuation from Toyota will be accepted. Will see what he says...

Have you heard anything back from them?

[dalkill]

From the miway website

The retail value which is the higher value is the average price a dealer would sell the vehicle for taking its age, condition and mileage into account. If your vehicle is covered for its retail value, and it is either written-off, stolen or hijacked without being recovered, the settlement amount will be based on its retail value less the applicable excess. This will enable you to replace the vehicle with a similar model.

So that is the value a dealer would SELL your vehicle. A quick look on gumtree for dealer ads only:

R99,500 -
http://capetown-westerncape.gumtree.co. ... Z428070522" onclick="window.open(this.href);return false;

R85 000 -
http://capetown-westerncape.gumtree.co. ... Z429877446" onclick="window.open(this.href);return false;

R 99,995 -
http://capetown-westerncape.gumtree.co. ... Z411101203" onclick="window.open(this.href);return false;

That just on the first page of gumtree search, give me an average of R94 831.
Now waar te donner kom hulle aan R75 000. Granted the first one is a 2003 model, it still does not justify R20 000 drop.

And this is how the fight started. I don't even own a hilux anymore, but I'm gonna dig bit deeper here for my Hilux brothers !!

[Senyetse]

Well I've sent an e-mail to the broker asking if a valuation from Toyota will be accepted. Will see what he says...

Have you heard anything back from them?

No, not yet...

[Senyetse]

Dalkill, exactly what I have found. The retail value given by insurance is a rip off! By the way, the value should take into account the mileage and condition. Nowhere have I been asked what the milage nor the condition of the vehicle is.

[Ali3n]

Well I've sent an e-mail to the broker asking if a valuation from Toyota will be accepted. Will see what he says...

Have you heard anything back from them?

No, not yet...

Now that is bad...

[dalkill]

Dalkill, exactly what I have found. The retail value given by insurance is a rip off! By the way, the value should take into account the mileage and condition. Nowhere have I been asked what the milage nor the condition of the vehicle is.

me neither.
the value of the vehicle is even given before the inspection. So they have a fixed value of the vehicle regardless of condition.
Don't know why a written quote from Toyota is not acceptable to determine value of vehicle.

[Senyetse]

Broker has said that the insurance will accept a dealer valuation and will insure for that amount.

[Ali3n]

Broker has said that the insurance will accept a dealer valuation and will insure for that amount.

Great... Go to honeydew Toyota and talt to Llewellen.

[dalkill]

a post on outsurance all on FB revealed the real enemy is transunion.
they determine average prices of vehicles sold by dealers, and insurance companies go by that.
I would love to see their numbers though.

I remember seeing a 2.7 lux being sold recently for R60 000 on gumtree.
It could be this type of blue moon sales that affecting the average, but I think they need to relook at their stratergy.

It would be nice if all insurance companies would accept Toyota values, if you take the time to go to them.
Maybe and average of three Toyota quotes. I'd rather pay higher premium and know I'm fully covered.