Hey everyone,

I tried finding the value of a 98 type r i'm interested in. The car is stock with 58,000 miles and has a clean title, not to mention it's immaculate. I am meeting with the owner tomorrow to check it out. It's for sale on http://www.craigslist.com in Richmond, VA. The owner is selling it for $14,000, which I would figure is a fair price. My worry is that insurance wont cover the entire amount it's being sold for, and yes I understand the rarity of the car affects price/value on the market. If anyone has info on the value, please let me know. Thankyou

Steve

 

Sounds like a pretty damn good deal to me. If you dont think your insurance will cover that cost if anything happened to it, see if the insurance company will allow you to put a declared value on it. Some companies allow you to do that if the car becomes a total loss (stolen, wrecked, etc).

 

Yeah I figured the only way I'm going to know for sure is if I ask my insurance company. I'm mainly worried about if the car was stolen, because if it ever got wrecked i'm pretty sure parting it out would be quite profitable. Thanks for your reply.

 

I would go and check it over really well.....

I just pulled up the add, and he says that it is bone stock, but then goes on to add that it has plug wires etc.....

also, it the pics, it is/was definately slammed on some sort of suspension, has an intake, no heat shield on the exhaust mani, aem intake.... and a few other things that i spotted in the pics.....

Take it to a mechanic you trust, and have it looked over well......

otherwise from the pics it appears to be fairly clean......

http://richmond.craigslist.org/car/187083443.html

 

What's going on with the silver/red anodized hose stuff in the back right of the engine bay?

 

holy **** thats a nice car

 

I'm not too worried about the silver/red hose because it just runs to the brake booster. I mentioned to the owner that the car looked slammed in the pic w/red wheels, he said his friend photochopped them in there. I appreciate all the advice everyones givin me, I will definitely use it. I just want to make sure this potential investment is worth every penny. I'll find out tomorrow.

 

i think this car's owned by a girl

 

Sounds like a good deal, if it's in good shape.

If the car is stolen, your insurance should pay you the market value of the car, less the deductible. As RTW DC2R mentioned, some insurance companies let you assign a specific dollar value to it (it's called "agreed value"). But even with policies that don't offer this coverage, they are supposed to pay you the fair market value - IOW, what it would cost to buy a car similar to yours.

Of course, some companies will give you better offers than others, and some companies will fight you tooth and nail for every dollar. You may have to negotiate with them to get a fair value. You (or they) can support these negotiations by presenting listings of other ITRs for sale (remember, asking price is more than you can usually negotiate downwards to a selling price, and they know that as well as you do).

If you are looking for an insurance company, you may want to find one that does well in customer surveys on Claims Handling; click here for an example.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by hontoyo &raquo;</TD></TR><TR><TD CLASS="quote">I'm not too worried about the silver/red hose because it just runs to the brake booster. I mentioned to the owner that the car looked slammed in the pic w/red wheels, he said his friend photochopped them in there. I appreciate all the advice everyones givin me, I will definitely use it. I just want to make sure this potential investment is worth every penny. I'll find out tomorrow.</TD></TR></TABLE>

Huge red flag. Look over the car with a fine-tooth comb. If you don't feel comfortable making that judgment yourself, take someone more knowledgeable.

 

The pic in question, whether it has been photoshopped, has the car on pink? (they look pink to me!) ITR wheels, a la penpen:



It's not lowered like that in other pics, and the wheels aren't that color in the other pics. The photoshop remark could be true, but hey it's always wise to pay close attention to details regardless.

I also get this info when I check the properties in Windows Exploder:
Creation Software Adobe Photoshop CS Windows

He's got another pic of his car parked next to other Rs, so maybe someone on here who knows him & the car will chime in.


Modified by 330R at 9:40 PM 8/4/2006

 

nsxtasy, you brought up some very good points I need to discuss with my insurance company. They're pretty good as far as it goes for working with my claims i've made in the past. I am going to go over the entire car inch by inch. My brother is a bit more knowledgable than I am, so before I consummate the deal (if I buy it) he will go over the car for me. Thanks again for everyones input, I will keep it in mind.

 

I think I've seen this for sale before, but I'm not sure... It may have holes in the dash to the left of the gauge cluster. Correct me if I'm wrong.

 

Buy my '98, 65k miles.. "one owner"... 12.5 takes it!

But, this 98 seems like a really good deal too.

 

Definately get it looked over -- compression tested and leak down tested.

 

"Asking 14,000" sounds like there may be some room in there. Talk about high maintenance costs and such and try for less.

Mileage is

 

Hey everyone,

I checked out the car today, it is absolutely beautiful. The body and paint are in excellent shape, and the interior is as well. Ed 341, you were right about the two small holes left of the gauge cluster due to a v-tec controller from the previous owner. His boss was the first and previous owner of the car, he had some minor modifications. I Checked over the entire car and everything seemed to check out ok. Driving the car was awesome, there was no valve tap, no oil leaks around head gasket, transmission shifted nicely and he has the paperwork for all the services done from the dealership. I decided I'm going to buy it and should be picking up the car according to plan on Tuesday. I hope the deal goes smoothly and can't wait to be an itr owner. Thankyou again everyone for your input, it was very useful. I'll post pics when I get it.

Steve

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by hontoyo &raquo;</TD></TR><TR><TD CLASS="quote">I decided I'm going to buy it and should be picking up the car according to plan on Tuesday. I hope the deal goes smoothly and can't wait to be an itr owner. Thankyou again everyone for your input, it was very useful. I'll post pics when I get it.

Steve</TD></TR></TABLE>

Happy for you. Best of luck on the transaction and taking ownership.

 

Without having read past the first couple posts, may I suggest insuring it for some higher "declared value".

Progressive will do this w/o too much trouble and it probably won't increase premiums too much.

If I ever get another ITR I'm insuring it for 30K.
No, I'm not kidding!


Modified by zygspeed at 8:05 PM 8/5/2006

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by zygspeed &raquo;</TD></TR><TR><TD CLASS="quote">Without having read past the first couple posts, may I suggest insuring it for some higher "declared value".</TD></TR></TABLE>

It's called "agreed value"... (ref.)

FWIW, I'm happy not paying extra for such coverage, with the expectation that I will still receive the fair market value of the car if it ever is a total loss.

 

When you do pick it up take some pics for us