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RV8
sold at Cheffins Vintage auction
Cat D effect on classic cars
The existence
of a Cat D insurance write-off category does tend to cause caution
and reservations with buyers and also challenges when it comes to
valuations. In the example alongside the repairs
to the reported damage to the front wing and grille in 2003 seem
to have been carried out to a good standard and it's a low mileage
RV8 in a good condition with the added benefit of an electronic
power steering upgrade. If a physical inspection shows it is in
essence a Condition 1 RV8 (possibly needing "some light recommissioning"
in the seating area) then the indicative market value of the car
could be around £18,500 to £21,500 and possibly a little
more.
Keith Belcher reflects on the previous times he has seen this car
on offer - he notes "this Cat D car previously failed to sell
with a dealer listing it in 2020 at £20,000 and it failed
to sell at an H&H auction in 2022 listed with an estimate of
£18,000." The reality is that for most buyers the condition
and history of a classic car like an RV8 are key to their attraction
to a buyer and consequently its market value. But a discount of
40% on what could be the value of this RV8 without the Cat D label
seems a heavy burden to carry for a decision made over 20 years
ago by an insurer to declare it an uneconomic repair when processing
an insurance damage claim.
Whilst a few buyers might take the view the car repair was carried
out to a very good standard and it has no residual technical or
quality issues from the repair work, so the overall condition and
low mileage make it a classic car they can enjoy driving and is
very good value. But the reality is when later the stage comes for
selling the car what may be felt as the Cat D stigma will probably
still be there and will tend to have an impact on buyers' interest
in the car and consequently the market value of the car.
See our MGV8 Price Guide. More
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RV8 in Woodcote Green sold at Cheffins Vintage auction
One
of the items sold was an MG RV8 with a winning bid of £11,000
plus buyers commission and VAT. More
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Cheffins
- Vintage
sale - Sale 3
This RV8 was sold at the auction of Automobilia, Motorcycles,
Selected Vehicles and Automotive Spares was held on Saturday
26th April 2025 at The Machinery Saleground, Sutton, Ely in
Cambridgeshire.
The
Cheffins Vintage team conducts the largest vintage and classic
auctions in Europe with sales regularly attracting over 3,000
lots and over 2,000 potential buyers. Cheffins vintage and classic
auctions include all types of vintage machinery, including steam
engines, tractors, classic cars, motorcycles, memorabilia,
automobilia, bygones, collectibles and related literature. More |
RV8
(Woodcote Green 1858) was originally supplied to Japan and
benefits from Factory fitted air conditioning as well as an
aftermarket electric power-assisted steering kit which helps
make the steering light and comfortable. With just over 31,000
miles, it appears to be a good honest example with some light
cosmetic recommissioning required in the cabin. Unfortunately
this MG was subject to a Category D insurance loss in 2003 with
the damage reported as mainly on the front driver's side wing
and front grille. The repairs have been carried out and the
car has since passed all Mots without advisories.
See
the auction listing & photos. More
What is a Cat D car insurance write-off?
Cat D or Category D is a specific insurance write-off term that
is used to describe a vehicle that has been involved in an accident
and deemed too expensive to repair by the insurer. A car that's
been deemed a Cat D insurance write-off can be repaired and
returned to the road but the existence of the Cat D does tend
to cause reservations and caution with buyers. If you are thinking
of buying one of these cars, it's important to do your research
as these vehicles can present a number of challenges when it
comes to insurance and valuations. To complicate matters further,
changes to insurance write off categories in 2017 replaced Cat
D with Cat N. However, despite the changes, there are still
many Category D vehicles on the road in the UK.
What does Cat D mean?
The RAC website explains that "a vehicle with a Cat D or
Category D classification has been written off by its insurer
because it is deemed to be too expensive to fix by the insurance
company. It's important to understand that car insurance companies
look at the total cost of repair, including hire cars, expensive-to-source
parts for particular models and so on. A Cat D status can sometimes
be for what appears to be very minor damage, but if the value
of the claim is deemed to be more than 50% of the car's worth
then the insurer will likely deem it to be a write-off. Once
the vehicle is written off and the insurance claim has been
paid to the owner, the car insurance company then legally owns
the vehicle. Following this, insurers often sell these cars
on to garages and motor factors that have the means to repair
any damage at a reduced cost. This makes it financially viable
for these businesses to repair the car to a roadworthy condition
and sell it on, with the insurance company also recouping some
of its costs."
Is Cat D the same as Cat N?
"Cat D was replaced with Cat N in October 2017 and the
two are broadly similar. Like Cat N, a Cat D or Category D marker
is assigned to a vehicle that has suffered light or cosmetic
damage. Cat N was introduced in 2017 to make it easier for car
buyers to understand write off categories, with Category
N indicating a vehicle has been written-off with nonstructural
damage."
Can you repair a Cat D insurance write-off and put it back
on the road?
"Yes, a car that has been deemed a Cat D insurance write-off
can be returned to the road, but the Driver and Vehicle Standards
Agency (DVSA) must be informed and the car should be repaired
to the required standard and be road legal. If the Cat D car
is repaired, the RAC do highly recommend that you get a professional
mechanic or vehicle engineer to assess the quality of the work
and ensure it has been carried out to a high standard. This
way, the repaired car will be as safe as possible."
Visit the RAC webpage on the Cat D insurance write-off.
RAC webpage
Posted:
250427
- photo credit:Cheffins |
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