F350 Valuation

Submitted: Wednesday, Oct 14, 2009 at 14:29

ThreadID: 73002 Views:3756 Replies:11 FollowUps:10

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chuditch

I own a 2000 F350 Supercab 4x4 [7.3 Lt diesel] that I imported brand new from the states and had converted in Melbourne. It has been stored in a garage all its life and is only used to tow my boat and so has only 44,000 kms on the clock.

I have been happily paying the asked insurance premiums for the last 8 years but on a recent review I noticed it was being covered for "market value". When I enquired of the insurer as to what they estimated this value would be they said they had no idea! One wonders how they arrived at the premium in the first place and what I would have been paid if it had been written off.

The insurer will cover the vehicle for an agreed value if I can provide some evidence of what this might be. So if there are any Ford enthusiasts out there [or other persons of knowledge] that can give some guidance as to what this F350 would be worth I would be pleased to have your thoughts.

The F350 is about finish its relaxed life and come out of the shed to have all the bits and pieces added so it can tow my new Bushtracker caravan around OZ when it comes out of the factory.

Lance

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Reply By: Member -Signman - Wednesday, Oct 14, 2009 at 15:10

Wednesday, Oct 14, 2009 at 15:10

Is there a similar model in the 'Red Book'..may give you some indication !!

AnswerID: 387026

Follow Up By: chuditch - Wednesday, Oct 14, 2009 at 15:30

Wednesday, Oct 14, 2009 at 15:30

I tried a couple of dealers but was told there was no relevant info.

FollowupID: 654600

Reply By: The Landy - Wednesday, Oct 14, 2009 at 15:23

Wednesday, Oct 14, 2009 at 15:23

Could try taking it to Pickles Motor Auctioneers and have them do an official valuation. Insurance company will proably want something along those lines for an agreed valuation.

Cheers...

AnswerID: 387028

Follow Up By: chuditch - Wednesday, Oct 14, 2009 at 15:32

Wednesday, Oct 14, 2009 at 15:32

Thanks - good thought. I will check out my options to do this in Perth.

FollowupID: 654601

Reply By: Member - Rob - Wednesday, Oct 14, 2009 at 15:41

Wednesday, Oct 14, 2009 at 15:41

chuditch
I notice that Redbook does not have a 2000 model on it. You might start your search on an american site or maybe use redbook which has a 2001 model on it.
Good Luck

AnswerID: 387031

Reply By: get outmore - Wednesday, Oct 14, 2009 at 16:30

Wednesday, Oct 14, 2009 at 16:30

they were sold in Australia- shouldnt be a problem finding out there value

we ad a rip snorter to tow the work caravans and gennies. full house winch, full barwork,spotties, sat phone, HF,

AnswerID: 387041

Reply By: robertbruce - Wednesday, Oct 14, 2009 at 16:53

Wednesday, Oct 14, 2009 at 16:53

be carefull about "agreed" value too...

someone mentioned to me recently that the insurence company doesn;t "agree" with you untill crunch-time...

apparently when they finally settle, that's the "agreed" value...

AnswerID: 387052

Follow Up By: The Landy - Wednesday, Oct 14, 2009 at 17:34

Wednesday, Oct 14, 2009 at 17:34

Best to always read the definition of Agreed Value in the PDS disclsoure statement; the amount will be disclosed in the policy document.

FollowupID: 654617

Follow Up By: robertbruce - Wednesday, Oct 14, 2009 at 17:48

Wednesday, Oct 14, 2009 at 17:48

imho, even if there is an amount disclosed, it probably written out in the fineprint...

FollowupID: 654619

Follow Up By: The Landy - Thursday, Oct 15, 2009 at 09:53

Thursday, Oct 15, 2009 at 09:53

Far too cynical :)

Actually the PDS statements these days are written in plain english, and that is the definitve guide.

FollowupID: 654696

Reply By: RobertHL (SEQ) - Wednesday, Oct 14, 2009 at 18:51

Wednesday, Oct 14, 2009 at 18:51

Lance ,i have a f250, not that that has any thing to do with your Question.
The market value is in my & some others that i speak to (not in the car ind)is what some one eslse is prepared to pay for it. I see the F250's on ebay for any thing between $45000 & $ 100000 But do they get sold for that i do not know.
it depends on the which model dual cab or 1.5 cab or single.I have rarely seen F350's on there.
Out of curiosity i went to a dealer late last year for a trade in price on a pajero for my f250 tray back manual they offered $ 40000 iwalked away because i had seen them elsewhere for $60000 plus.I have also heard stories from some that have sold theirs for more than they paid for them.
Hope this helps.

Cheers,

Bob.

AnswerID: 387072

Reply By: _gmd_pps - Wednesday, Oct 14, 2009 at 23:57

Wednesday, Oct 14, 2009 at 23:57

I have imported a GMC dually and have it insured with my camper on agreed value.
My insurance required and accepted all my invoices from original purchase, transport, conversion and all extra installations. I have around A$30,000 extras in my truck and around $20,000 in the camper. On top of the agreed value I have contents insurance including my high end camera gear. I have a few things done with the combo where I have no invoices, because that was all self installed and produced. For these things I went to a trades person and got a quote for the work done. The insurance accepted the quotes as value of the works and it was added to the agreed value. This is how it usually works with mobile homes and my truck and camper combo is classified as a mobile home.
Another approach is the replacement value, which I would use in your case.
The total cost of replacing the vehicle now. Thats what you want to get paid when you total it.
good luck
gmd

AnswerID: 387115

Follow Up By: chuditch - Thursday, Oct 15, 2009 at 07:15

Thursday, Oct 15, 2009 at 07:15

Thanks - I think there is merit in your suggested approach of using the replacement cost as the starting point. I will run this by my insurers.

Lance

FollowupID: 654682

Reply By: Ray - Thursday, Oct 15, 2009 at 00:02

Thursday, Oct 15, 2009 at 00:02

I have recently sold a 97 F350 Dual rear wheel for 53K.It was in good order and had 170 kms on it. Seeing yours is the later body style it would be worth more obviously.Also depends whether its a XLT or Lariat,King Ranch etc. To replace it you are looking at 150K plus. I've just bought a new 350 Lariat from the same place you would have had yours converted at. Nice truck.

AnswerID: 387116

Follow Up By: Member - Kroozer (WA) - Thursday, Oct 15, 2009 at 03:15

Thursday, Oct 15, 2009 at 03:15

Christ, honestly spending $150k on a vehicle that would cost another $150k a year to run is pretty damn mad to me. Really, what is it that these things can do that another make cant. I would be expecting it to pull 3 trailers for that price. You could get a 2000 model Mack with 600hp for that.

FollowupID: 654678

Follow Up By: chuditch - Thursday, Oct 15, 2009 at 07:22

Thursday, Oct 15, 2009 at 07:22

Ray - thanks for that info. My F350 is a XLT. I looked at repeating the import exercise in order to match my new van with a brand new tow vehicle but decided that given the low kms that mu current truck has that I should be rational for a change.

Lance

FollowupID: 654684

Reply By: peterll - Thursday, Oct 15, 2009 at 03:27

Thursday, Oct 15, 2009 at 03:27

Hi Lance...ok so this may not mean much but then again it may give you some ideas.

Just had a look in the local paper (Calgary, Canada)..nearest I could find was a 2003 model for sale by owner..oh yes.in Canadian dollars

2003 Ford F350 Super Duty Pickup Truck, V8, Auto, Only 71,600km, White with Grey Interior, Tilt, Cruise, A/C, Electronic Towing/Trailer Brake, Well Maintained, Almost New Tires, Runs Excellent, Mint Condition, Very Clean, Must Sell $6800

This one is being sold by the city council...
Quantity: 1
Unit of Measure: EA
Year/Make/Model: 2002/Ford/F350CREWCAB
Unit Number: 7079
Description: FLAT DECK 9-12K CREWCAB
Serial Number: 1FDWW36S82EC77032
Engine: FORD 6.8L 10CYL GAS
Km: 81159
Hours: 3212
Comment: Asking Price $15,000

And then of course if you want a new one (2010)

Ford F-350 Super Duty - Cabela's 4x4 Crew Cab 156 in SRW
PricingBase MSRP $55,399.00
Delivery / Freight $1,400.00
Total MSRP * $56,799.00

Peterll

AnswerID: 387123

Follow Up By: chuditch - Thursday, Oct 15, 2009 at 07:27

Thursday, Oct 15, 2009 at 07:27

Thanks Peterll - I had not checked out Canadian & US prices for a few years. I will be in Toronto next week and then down to Atlanta and across to Chicago the following week. I hope to have time to visit a couple of dealerships just to see what the latest product looks like.

Lance

FollowupID: 654685

Reply By: Ray - Thursday, Oct 15, 2009 at 10:28

Thursday, Oct 15, 2009 at 10:28

Unfortunately US and Canadian prices have no bearing here. They hold their value here better than nearly anything else.
Koozer I can tell you after my third F350,the last two diesels that they are cheaper to run than a Landcruiser size vehicle,do it twice as easy,are better equipped and are worth something when you go to upgrade.(I'm also on my 5th Landcruiser,the current one, a 100 series TD

AnswerID: 387140

Reply By: Fatso - Friday, Oct 16, 2009 at 23:27

Friday, Oct 16, 2009 at 23:27

Take a look in the Yellow Pages for a Motor Vehicle Valuer. I think it is a licensed profesion here in Qld.
I have had valuations done for tax purposes. The last one was a few years back & I think it cost only $110.
If the tax office accepts them I reckon an insurance company would have a hard time rejecting them.

AnswerID: 387433