KatJ Posted October 7, 2021 Share Posted October 7, 2021 (edited) hi Guys, hope you can offer some guidiance. My brand new MT07 was stolen and subsequently recovered. Damages ammounting to about £2k (verified by yamaha), bike cost me £7K I just got a settlement offer from MCE, classifing the bike as a CatN write off and offering me £5.6K for it! How can a brand new bike, that can easily be repaired be a write off?! Can i just tell them to piss off and give me the bike back so i can pay 2k and repare it myslef? At this point they are not offering me an option to "buy it back" from them either Edited October 7, 2021 by KatJ Quote Link to comment Share on other sites More sharing options...
Mississippi Bullfrog Posted October 7, 2021 Share Posted October 7, 2021 That's not unusual. Bikes get written off for even quite minor damage. I've bought a few cheap and sorted things out and it's a cheap way to buy a bike. You can ask them to buy it back and come to an agreed settlement, then fix it yourself. But remember it will carry the write off marker so will be worth less. If you plan on keeping it that's not an issue, it will only affect things when you come to sell it on or trade it in. Quote Link to comment Share on other sites More sharing options...
NM_OLD Posted October 7, 2021 Share Posted October 7, 2021 (edited) Seems odd that they'd rather spend £5.6k than £2k. I'd ring them up and ask for an explanation? Edited October 7, 2021 by NM_OLD grammar Quote Link to comment Share on other sites More sharing options...
KatJ Posted October 7, 2021 Author Share Posted October 7, 2021 they are due to call me in the next few hours, i do not get it honestly. So at this point, because i opened the claim with them already, i cant just tell them to just give me the bike back? do i need to buy it back? that seems strange too, it is my bike not theirs! Quote Link to comment Share on other sites More sharing options...
bonio Posted October 7, 2021 Share Posted October 7, 2021 Yeah, you need to complete the claim and buy the bike back. Ask them about it when they call. Quote Link to comment Share on other sites More sharing options...
S-Westerly Posted October 7, 2021 Share Posted October 7, 2021 MCE -enough said. 1 Quote Link to comment Share on other sites More sharing options...
Bender Posted October 7, 2021 Share Posted October 7, 2021 Probably insured against a total loss and have to pay for it to be repaired Quote Link to comment Share on other sites More sharing options...
Stu Posted October 7, 2021 Share Posted October 7, 2021 Because you have opened a claim they will register that against your name now anyway plus they are within their rights to charge you for any valuations and estimates if you don't go through with the claim Quote Link to comment Share on other sites More sharing options...
KatJ Posted October 7, 2021 Author Share Posted October 7, 2021 thanks all, seems like they rather give me more money and the bike bike, rather then fix it! Quote Link to comment Share on other sites More sharing options...
James in Brum Posted October 7, 2021 Share Posted October 7, 2021 Yup. Take the bike and the money and you will have lost some value but have cash and a bike Quote Link to comment Share on other sites More sharing options...
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