Talk Morgan Forums Community The Malvern Arms Something is niggling me......

Yes, it's quite possible that the current custodians have no real idea what the repair costs are likely to be, beyond being more than what the car is likely to be worth.

Without someone offering to pay for their time, they may be baulking at providing you with the information because it would take them a good few hours to figure it out with any degree of accuracy.

I'm with Gott and Wynne, have an agreed value and am told that the salvage price is 20% of the agreed value in the event of a full write off.

So should the worst happen I can either take the full value and they keep the car or take 80% and keep the car.

Seems a pretty good arrangement to me as I often wonder how much the salvage value would end up if it was purely the decision of the Insurance company. Presume that the better the car and the higher the agreed value, the higher the salvage value?

Hope I never need to test my Insurance but it seems a worthwhile benefit of the Gott and Wynne scheme.

If you have an agreed settlement value based on a valuation AND you have an agreed percentage of 20% as a salvage value and a choice of exercising it then that sounds the best of all worlds for a much loved car

Will definately speak to Gott & Wynne when I renew next June as that arrangement seems a very good one should the unfortunate ever happen

What we are forgeting,that if finance is involved on the car, it adds another dimension to the legal ownership.

I would be quite surprised if Morgan owners were involved in finance deals personally.

Surely you don't put yourself in hock for a toy, it has to be disposable income.

Not that many Morgan people carry that much money in their back pocket.

Like me, you would be amazed if you knew. I was when Maranello told me that the large majority, over 70% , of Ferraris bought new were financed! Borrowing six and seven figure sums for a toy!

Whatever happened to the idea of saving up until you could afford something?

Not that surprised about the Ferrari Financing.

Many buyers will have their own businesses and can offset the cost of finance if the Car is a registered asset of the company or a part of the owners contract of employment. And of course claim depreciation against their asset register.plus all or part of the running costs!

I have mixed feelings on legitimate business reliefs and allowances for entrepreneurs/owners being used in this way.

Yes, successful business owners have often put up their own personal assets to build the business, so the distinction between personal and business is not absolute. And hard-working, employment-creating people deserve life's luxuries - why else would they do it.

BUT.. I know people who run helicopters, whole fleets of cars for the family including kids all 'on the company'. It seems that it's not that hard to find a tame accountant to help you finance your whole lifestyle through business tax reliefs.

What happens to demand for these 'toys' when HMRC get tougher on this, as they surely must?