$2018 challenge miata questions

Well, maybe. I need to figure out just where i would be starting.

The story so far:

I have a salvage title 2000 miata dd base model. Beautiful car (ish. Drivabeater 3.0 for those of you keeping score.)

Car got hit by mrs magoo last week.  Bent rear subframe, trashed axle, bent spindle, wrinkled quarter. I have about 4k in the car, and it has 93k on the odometer. The front end is pretty bent from before i bought it. Core support doesn't line up, and passengers side has an inch shorter wheelbase. I wish i had paid mire attention when i bought it. 

This week, i bought a 99 sport parts car. Paid 1000 bucks for a complete car, minus a pass side fender. Its pretty trashed, but has a torsen, good top, and straight shell. Also has a clean title. Bad head gasket, 180k.

Im thinking that i want to paint the clean title shell, and transfer over all my 90k good parts, giving me a low mileage, clean title miata. Id swap interior, drivetrain, and all the best parts in my daily.

This would leave me with a seriously bent parts car with a fresh 50 dollar paint job, no interior, worn out suspension and brakes, and bad engine.

If youre still following, how would i make the math work out? Seems like i could call it an even trade, and be a grand into the totalled miata as a start to the challenge car.  Recoup could be selling off the worst parts from both cars (engine with blown head gasket, trashed tan leather interior, etc). End game would be a seriously stripped, v6 swapped, street legal challenge car.  But only if the math is right.

So, how does the math on this work?

Valuing the totaled car will not be easy. But, a straight, clean title, 99 with a blown hg, torsen, and missing fender is a good starting point.

Just add any parts you take from the totaled car at fair market value to the budget but otherwise leave it out completely.

That's what I'd do.

"v6 swapped, street legal challenge car."
J-swap?

I think you'll have to use FMV to pull parts from driveabeater 3.0... but I'm a n00b with this stuff.

I also wonder if you're not trying to kill too many birds with a single answer.  

In reply to Dusterbd13 :

I can't even follow which car you are talking about.

The wrecked car you have $4K in?  Umm...I don't think you have any choice but to FMV it, and I'm not sure you can even justify that.  You already told us you have $4K in it...

SVreX said:

In reply to Dusterbd13 :

I can't even follow which car you are talking about.

The wrecked car you have $4K in?  Umm...I don't think you have any choice but to FMV it, and I'm not sure you can even justify that.  You already told us you have $4K in it...

I think the point is that he ends up with a $4k former beater with a junk engine in it.  The challenge car is the $1000 parts car just bought with the engine, seats, carpet, etc in it.  Unfortunately, I think just swapping the engine in is going to kill your budget based on FMV.  I don't know how much recoup you can pull selling off junk parts from the $1k car to swap the unbroken engine in via fmv?

Did her insurance total the 2000?  Are you buying it back?  I think what's been agreed to before is your but back price plus the normal copart fees like what pimpm3 had offered to charge GRM members. 

The plan is to use the clean title tub, and my good stuff from the totalled car to make my daily. 

Then use the totalled car, minus pretty much every good part( so, seriously bent tub, no interior, blown motor, junk rear, and wore out suspension) as the challenge car. 

Essentially what i was wondering is, if i can use the parts car price for what is basically the leftover pile of svrap metal. Then stuff a gm v6 and insanity into it. I would be keeping all the stuff thats worth keeping into the daily.

Her insurance didnt total my car. Was $75 off of being completely totalled.

Another way of putting this, possibly simpler: how much is a bent 2000 base model miata of multiple colors, with a junk rear, blown motor, hazmat level interior, steel wheels, broken headlights, no inner fenders, cracked bumpers, no passengers fender, and wore out suspension worth? Decent top and windsheild.

Dusterbd13 said:

Another way of putting this, possibly simpler: how much is a bent 2000 base model miata of multiple colors, with a junk rear bodywork, steel wheels, broken headlights, no inner fenders, cracked bumpers, no passengers fender, and wore out suspension worth? Decent top and windsheild.

guess I did misunderstood.  I edited your list based on what I think would be your lower fmv starting point... assuming that was a possibility.

The more I read it, though, I think you want to shave even more parts off it, and start with the lowest FMV and build up your own version of a gm v6 powered miatakart.  ymmv

Im thinking stockish appearance and painted to match my daily, with gm 3x00 60*v6, 5 speed, lightness, and a license plate.  Add grip, and enjoy. 

But, sleepyhead, you get the idea. A fmv of my scrap miata E36 M3 to start a build with. I truly think that i WOULDN'T give 1k for that pile as i have it listed, but did just that for a very similar pile.

My other thought is a mopar magnum 5.9 auto on megasquirt.  But madness lies in that direction. 

Personally I think FMV of the salvage title shell with bent suspension bits would be less than $1k, considerably less. 

untchabl said:

Personally I think FMV of the salvage title shell with bent suspension bits would be less than $1k, considerably less. 

Miracle Max: He probably owes you money huh? I'll ask him. 
Inigo Montoya: He's salvaged. He can't drive. 
Miracle Max: Whoo-hoo-hoo, look who knows so much. It just so happens that your car here is only MOSTLY salvaged. There's a big difference between mostly salvaged and all salvaged. Mostly salvaged is slightly alive. With all salvaged, well, with all salvaged there's usually only one thing you can do. 
Inigo Montoya:: What's that? 
Miracle Max: Go through the carpets and door cards to look for loose change. 

edit: the 9mo had me up like 4 times last night... so I might just be "posting while loopy"... feel free to ignore

sleepyhead said:

untchabl said:

Personally I think FMV of the salvage title shell with bent suspension bits would be less than $1k, considerably less. 

Miracle Max: He probably owes you money huh? I'll ask him. 
Inigo Montoya: He's salvaged. He can't drive. 
Miracle Max: Whoo-hoo-hoo, look who knows so much. It just so happens that your car here is only MOSTLY salvaged. There's a big difference between mostly salvaged and all salvaged. Mostly salvaged is slightly alive. With all salvaged, well, with all salvaged there's usually only one thing you can do. 
Inigo Montoya:: What's that? 
Miracle Max: Go through the carpets and door cards to look for loose change. 

edit: the 9mo had me up like 4 times last night... so I might just be "posting while loopy"... feel free to ignore

Any reason to reference The Princess Bride is a good reason

now that I'm awake, and have more time to think, this might be the closer "translation"...

Miracle Max: It probably owes you money huh? If it's salvaged will you behind on your loan? Let's take it for a drive.
Inigo Montoya: It's wrecked. It can't drive. 
Miracle Max: Whoo-hoo-hoo, look who knows so much. It just so happens that your car here is only MOSTLY wrecked. There's a big difference between mostly wrecked and all wrecked. Mostly wrecked is slightly drivable. With all wrecked, well, with all wrecked there's usually only one thing you can do. 
Inigo Montoya:: What's that? 
Miracle Max: Go through the carpets and door cards to look for loose change.

For those that haven't seen it.

https://www.youtube.com/embed/xbE8E1ez97M

Sp, any idea on fmv?

What about this angle on valuation?  Build your DD miata scavenging parts from totaled car.  After you've done that, remove every thing you don't need/can't use from totalled car.  Establish FMV of the stripped bent tub.  That's your starting budget.  Anything used left over from DD build is added to your Challenge budget at FMV.  Add anything you purchase to complete challenge car to budget.  Essentially leave the $1000 car out of the budget except for parts removed to go on challenge car at FMV.

That seems to be fair to me.

I think you should start this thread over. 

If I am understanding you correctly, the first post should have simply said "Help me determine FMV for a badly bent Miata tub with no decent parts left on it"

The rest of the stuff (2nd car, purchase price, build plans, etc) is pretty much irrelevant. 

Am am I right?

Ovid_and_Flem said:

What about this angle on valuation?  Build your DD miata scavenging parts from totaled car.  After you've done that, remove every thing you don't need/can't use from totalled car.  Establish FMV of the stripped bent tub.  That's your starting budget.  Anything used left over from DD build is added to your Challenge budget at FMV.  Add anything you purchase to complete challenge car to budget.  Essentially leave the $1000 car out of the budget except for parts removed to go on challenge car at FMV.

That seems to be fair to me.

By god, that sounds like a perfect plan!

SVreX said:

I think you should start this thread over. 

If I am understanding you correctly, the first post should have simply said "Help me determine FMV for a badly bent Miata tub with no decent parts left on it"

The rest of the stuff (2nd car, purchase price, build plans, etc) is pretty much irrelevant. 

 

Am am I right?

Pretty much you got it right. In my effort to be honest and explain fully I think I confuse the issue far more than I really needed to.

I'd guess that Keith would be the definitive arbiter of what a rollerskate with a wrinkled body on it, less engine is worth

then again, this might be an answer to your answer fmv questions...
https://grassrootsmotorsports.com/forum/201x-classifieds/1994-miata-roller-mine-affiliated/129382/page1/

That looks like it is much better shape than the pile of parts ill have leftover. But 1k sounds like a reasonable price to start from. Im sure i can recoup something from this pile.