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-   -   New Engine or new car? (http://www.bimmerfest.com/forums/showthread.php?t=661985)

Unorthodox18 12-03-2012 02:56 PM

New Engine or new car?
 
I have a 2009 M3 automatic with 45,000 miles that sustained water damage to the engine during flooding recently. I have the option of getting a new engine put in it (would have to pay about $3500 due to betterment rule) or get $45,000 for it being considered totalled and could puchase a 2010 or 2011 with probably fewer miles. My current car has dual clutch transmission, cold weather package, moonroof, and is black/black.:p:)

enigma 12-03-2012 03:45 PM

I would definitely take the money.

Even if you put in the new engine, your title will carry the flood record, and it can't be a good thing for resale.

FlyingLow78 12-03-2012 05:19 PM

I also would take the money. Flooding doesn't just damage a car's engine. Everything steel can rust and anything electronic can corrode as well. You'd be very likely to have further issues later on that insurance may not decide to cover.

CliffJumper 12-03-2012 05:28 PM

Put an LS9 in it :p

Chuck W. 12-03-2012 05:44 PM

Money and new one. Good luck and let us know how it worked out.

nhman 12-04-2012 03:43 AM

Agree with the previous responses, take the cash and buy a new one. If there is water damage to the engine what about the other components? Why take a chance.

Unorthodox18 12-04-2012 08:18 AM

I don't know if this makes a difference or not but the insurance company said they would cover any damages that could not be evaluated or determined until a new engine was put in.:p:):)

kscarrol 12-04-2012 04:59 PM

Makes no difference, take the money and get shopping. While the repaired car may be as good as new, it will always carry that flood title which significantly impacts future resale. Take the $45k and another car...

enigma 12-04-2012 06:08 PM

Quote:

Originally Posted by Unorthodox18 (Post 7230195)
I don't know if this makes a difference or not but the insurance company said they would cover any damages that could not be evaluated or determined until a new engine was put in.:p:):)

You sound like you desperately want to keep the car for whatever reason. Ask them point-blank whether they will pay you out for diminished value, and if the answer is no, take the money and run.

nhman 12-05-2012 12:42 AM

Quote:

Originally Posted by enigma (Post 7231294)
You sound like you desperately want to keep the car for whatever reason. Ask them point-blank whether they will pay you out for diminished value, and if the answer is no, take the money and run.

+1

Something to consider, subject yourself to the potential of going back-n-forth with the insurance company and repair facility for ongoing problems (due to the water damage).

rhird 12-07-2012 02:33 PM

Money

MMME30W 12-07-2012 03:18 PM

$45K vs. a salvage rebuilt 09 M3? Check please...

edge9 12-07-2012 05:17 PM

Take the money and run. Your car will have untold nightmares ahead and a salvage title to boot.

Sent from my ADR6350 using Bimmer App

BikeGeek 12-20-2012 01:10 PM

No question, take the money. You can buy a new(er) one with far less miles for a few bucks more. Good luck!


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