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Old 07-15-2011, 10:07 AM   #1 (permalink)
 
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It seems the trend of insurance companies lately is to give you Fair Market Value for your car if it were to be totaled and not "book value". This is a side effect to people short selling of low selling their cars.

While at the Tail of the Dragon last week Killboy.com made a good suggestion. We have a very niche car, similar to the Toyota Supra. He was saying that the majority of the Supra owners agreed on not selling their cars for book value but above. This is why Supras sell so dang on high.

I know its a huge pipe dream but if the majority of people on here started trending this what if they ever decided to sell then our cars could potentially retain their value even more and be worth something in a few year. Not collector car money but something.

Just a thought...your thoughts?
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Old 07-15-2011, 10:22 AM   #2 (permalink)
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With an economy like this, I find it hard to find people that will buy even at book value.
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Old 07-15-2011, 10:39 AM   #3 (permalink)
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I like the thinking tuned, but I agree with 99forester93. With today's economy its hard to sell ANYTHING at blue book or above. But if we try as a group anything is possible right? What may be a different way to argue with the insurance is why they are not giving "book value" and instead giving "fair market value". Is fair market value higher or lower than book value?
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Old 07-15-2011, 10:46 AM   #4 (permalink)
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I like the thinking tuned, but I agree with 99forester93. With today's economy its hard to sell ANYTHING at blue book or above. But if we try as a group anything is possible right? What may be a different way to argue with the insurance is why they are not giving "book value" and instead giving "fair market value". Is fair market value higher or lower than book value?
Having just had my 1998 Forester totaled by GEICO I can honestly say that the FMV was better than Kelly Blue book value. What they did was search online for all 1998 Foresters with similar options and trim (mostly dealers) and used the average price which was about $1000 higher than KBBV...so I have no complaints whatsoever. Since dealers always mark up their inventory you get a far better deal this way.
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Old 07-15-2011, 10:47 AM   #5 (permalink)
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It's the same reason (IMO) older BMW motorcycles don't sell for under 3 grand... you have one, you know it cost 3K and you'll get it back out of it.

Will the market bear that? Who knows. But if all Subie owners said "Nothing less than 10 grand" and EVERYONE held to it then it would hold... until someone who wanted to sell his car bad sold it for $7500. It's also supply and demand... we DO have a niche car, and one with a good reputation... but the question is, would people be willing to pay that much, or would all our FS cars go unsold and the potential buyers buy a cheaper (albiet less reliable) CJ?
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Old 07-15-2011, 10:48 AM   #6 (permalink)
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Originally Posted by 99forester93 View Post
With an economy like this, I find it hard to find people that will buy even at book value.
There's a problem with the economy?
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Old 07-15-2011, 10:52 AM   #7 (permalink)
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The Forester is a niche car? I have a hard time buying that when I see about four of them on every block around here, lol. It hardly compares to something like a Supra, which (in certain iterations) is considered a highly sought after collector's car due to its rarity.
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Old 07-15-2011, 10:57 AM   #8 (permalink)
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The Forester is a niche car? I have a hard time buying that when I see about four of them on every block around here, lol. It hardly compares to something like a Supra, which (in certain iterations) is considered a highly sought after collector's car due to its rarity.
Agreed, Supra's hold value because they were last made in 2002.
High gas prices, short supply of used cars and shortages of new cars from Japan will keep Subaru prices high without our help.

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Old 07-15-2011, 11:02 AM   #9 (permalink)
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The Forester is a niche car? I have a hard time buying that when I see about four of them on every block around here, lol. It hardly compares to something like a Supra, which (in certain iterations) is considered a highly sought after collector's car due to its rarity.
Not in disagreement here, but if I even see a Forester its usually a newer model with elderly people driving it, maybe once a week. Way more Outbacks and Leggy's, a few Tribeca's. But that's what the Lafayette plant makes, so it makes sense. How many Dodge SRT anything do you see? I cant throw a rock with hitting one around here. Its all in the location. That will be hard to get past. The only place where Supra's were all that popular was in Japan.
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Old 07-15-2011, 11:05 AM   #10 (permalink)
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Is it just me, but am I seeing an awful lot more newer Subies on the road recently? Went to the dealer to replace my dead mirror, and noticed they seem to be rotating stock pretty well... Am thinking, maybe this is a good sign...
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Old 07-15-2011, 11:06 AM   #11 (permalink)
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Not in disagreement here, but if I even see a Forester its usually a newer model with elderly people driving it, maybe once a week. Way more Outbacks and Leggy's, a few Tribeca's. But that's what the Lafayette plant makes, so it makes sense. How many Dodge SRT anything do you see? I cant throw a rock with hitting one around here. Its all in the location. That will be hard to get past. The only place where Supra's were all that popular was in Japan.
Yeah, it probably depends very much on geographic location. If I were to recount my personal sightings of Dodge SRTs I'd probably have to say they're as rare as Supras around here, but I can't swing a dead cat without hitting a Forester. Yesterday I sat at a light with one in front of me and one behind me, and that's not an unusual occurrence at all.
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Old 07-15-2011, 11:09 AM   #12 (permalink)
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The Forester is a niche car? I have a hard time buying that when I see about four of them on every block around here, lol. It hardly compares to something like a Supra, which (in certain iterations) is considered a highly sought after collector's car due to its rarity.
+1. There really isn't anything special about our cars. Okay, maybe the '08 Sports model with a 5-speed is rare, but the others are.. just cars?

Supra was a weapon, our car is an appliance as stated by some on here, and unfortunately it does hold truth. I do see what you are saying and would love to see my car retain it's value, but I'm afraid it will just keep going down in value. I wouldn't mind selling it within a year to replace it with a 328i wagon, hopefully I can still sell it for a reasonable amount.

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Old 07-15-2011, 11:11 AM   #13 (permalink)
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Okay, maybe the '08 Sports model with a 5-speed is rare
And that's only to those in the know, i.e. the relatively small number of enthusiasts that are actually active on this forum (compared to the average Forester buyer).
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Old 07-15-2011, 11:11 AM   #14 (permalink)
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I would think the Turbo Foresters would be a little more rare everywhere?

Just open conversation that I really had no expectations on actually getting it done. Even if people said they would do something they still would be lazy.

Granted the analogy of a Supra is a little far fetched but how often do you see 04-08 turbo's for sale? Not often.

Still this makes for an interesting read.
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Old 07-15-2011, 11:12 AM   #15 (permalink)
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Well I'm all for calling the FSXT's a "niche" vehicle and trying to keep the values high.
There aren't a lot of Foresters around here, let alone pre-09 XT's... perhaps we should try limiting the "niche" to FXT's in general?
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