Friday, January 16, 2009
The owner finally looked for and found most of the paperwork for our car. He found the original eBay add from when he bought the car in 2003, as well as the insurance documentation from the accident totalling the car in 2007.
The eBay add shows that he purchased the 1991 BMW 318is in April of 2003 for $4,300. It also shows that it had and was being sold with the following mods:
M3 forged aluminum a-arms
Offset A-Arm bushings
BMP Strut brace
new wheel bearing assemblies
H&R strut and springs coilover suspension
Suspension Techniques adjustable sway bars and urathane mounts
Turner sway bar bracing
Turner rear shock mounts
Carbotech Panther pads
4:10 limited Slip
Redline MTL Fluid
The Accident/Insurance Documents from December 2007 shows that it had $4,926.23 in damages but that the car was only worth $3,905.50 so the insurance company totalled the car (Total Loss). It also shows that the highest salvage value was $150. The owner was cut a check for $3,775.50, which was the value of the car minus the highest salvage price ($150), and he got to keep the car.
Basically the owner got to drive the car for 4 years for only $400!