"New" CPO 535xi Hydrolocked in latest Storm!
03-18-2010 | 03:54 PM
#21
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From: Hoboken, NJ, USA
My Ride: 2005 Mystic Blue M3 Coupe
1999 Estoril Blue M3 Coupe
2008 Sapphire Black 535xi
Maybe I should clarify. My dad was driving his 650 through a flooded intersection and a 18 wheeler coming from the other direction flooded his car with the wave and Hydro locked his motor. Since water in an engine is Water damage, it was ruled a totaled car based on the Katrina law. so this sounds very similar to what happened to your car. Your insurance company will make that decision for you.
03-18-2010 | 03:55 PM
#22
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From: Hoboken, NJ, USA
My Ride: 2005 Mystic Blue M3 Coupe
1999 Estoril Blue M3 Coupe
2008 Sapphire Black 535xi
I've never heard of "compensation for diminished value," especially on any kind of auto policy. Could you please explain?
03-18-2010 | 09:14 PM
#24
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From: Hoboken, NJ, USA
My Ride: 2005 Mystic Blue M3 Coupe
1999 Estoril Blue M3 Coupe
2008 Sapphire Black 535xi
03-19-2010 | 06:53 AM
#25
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From: SoCal
My Ride: 2008 550I LOADED, all options except HUD and NV
03-19-2010 | 10:48 AM
#26
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The basic notion is that a car with a rebuilt engine is worth less than a car with the regular engine. So even if they were to fix the car based on what they deem to be the value of the car, after the repair the value of the car is reduced because it has a rebuilt engine. Of course the loss in value is hard to quantify.
03-19-2010 | 10:50 AM
#27
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From: Queens, NY
My Ride: A Car
03-19-2010 | 02:32 PM
#28
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From: Hoboken, NJ, USA
My Ride: 2005 Mystic Blue M3 Coupe
1999 Estoril Blue M3 Coupe
2008 Sapphire Black 535xi
UPDATE! Just heard back from my SA and my insurance company (USAA)agreed to pay for the damages. So the dealer ordered me a long block, battery, and a starter. The condition of the turbos are still to be determined, as they have to come apart to be inspected. I will definitely push to have them replaced as part of the claim though.
You guys are great. I've seldom been on a forum this friendly and helpful. Thanks.
You guys are great. I've seldom been on a forum this friendly and helpful. Thanks.
03-19-2010 | 07:48 PM
#29
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From: Teaneck, NJ U.S.A
My Ride: 2007 E60 530i 6 Speed Silver Gray
Model Year: 2007
Engine: N52
its better this way than getting it totalled, i agree!! This way you;ll basically have a new engine to go with a hard-to-find 535i. Good luck!! Post some pics of the process. I would.
03-19-2010 | 08:05 PM
#30
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From: Long Island, NY
My Ride: 2008 535i: June 6th start build, complete June 17th, at NY Port July 5th, at dealer July 10th, took delivery Friday July 13- Plantimum Bronze/Natural Brown Leather/Light Poplar, Sport Package, Sport Auto, Active Steering, Premium Package, CWP & PDC. Dinan Performance Software 384hp & 421 ft/lbs.
When water hits a hot cylinder it makes steam, which expands and bends things. Fresh water shouldn't hurt the rest of the cars, salt water is another issue. Hope it works out.