FTO AUSTRALIA

Make sure you get it insured for what it is worth, not what you paid for it! If it gets written off or stolen, I doubt you'll find another one at that price or a sales person as stupid!

I bought my car below market price (overseas student needing to sell before they went back home) and had a similar issue. I'm with JustCar Insurance and my vehicle is insured for around $6K more than what the transfer paper work says. This way I am safe and know that I could get a comparable car if something happened to mine.

Naturally the insurance company wanted to inspect the vehicle and wanted to know how I managed to get it so cheap, but once they did the inspection and heard my story they were satisfied and put the cover up to the appropriate level.

Yeah mine is only insured for 20k as a 1995, but already paying a hefty premium, as i only got 20% no claim, so putting it up would just increase that aswell!

How much you think its worth anyways? I have not seen any 1998's advertised, or a Version R.

I'd get the insurance fixed up, as well as the RTA paperwork, to make sure your car is correctly listed - i.e. 1998 not 1995. Insurance companies only need the smallest of reasons to either void a claim or not pay out fully.

Speak to your insurance company and tell them the situation (car registered as wrong year and under valued) and ask for a re-quote at a higher price. In my instance the insurance premium was only $50 more per year, yet the car was insured for an extra $6K.

As a rough guide, your car is probably worth around $25K-$30K, but before you get this fixed up with your insurance company, do a bit of research on the web (carsales.com.au, tradingpost.com.au etc) and print out the information, this way you have "evidence" to back you up.

Here's one listed in Vic for $31K, but it also has a few mods, but it is the same year and a 5speed tip (which is rarer and costs more)
http://www.tradingpost.com.au/hotlists/ ... istid=5919

If you want to make a quick profit, I'll buy it from you for $22K

Thanks for your advice ruchi. THe RTA papers are fine, they say 1998. But i sorted out the insurance before i saw this and thats when i started getting suspicious about the year of the car.

I just hope the premium is not that much more, im already paying a ridicoulous amount!

You don't have to insure your car for the higher value, but you'd be silly not to.

All you need to do is ask.

Tell them you made a mistake, and that it is a '98 model and ask them what the premium increase would be to insure it for a higher price ($25K-$30K). If you don't want to pay the extra, then just stick with the value it is currently insured for.

The most important thing however, is to ensure that ALL the details you have given them are correct.

Changed my policy to reflect the real model (1998) of the car. Went up by $150! But atleast i know it will be covered if anything happens *touch wood*

How much is it now covered for?

They wouldnt cover it for more then 21k (was only 20k before) cos thats what i paid for it! Not much i can do! Would of lied about how much i paid for it if i knew! Ahh well..

That's not true. Most insurance companies will insure a car for more than what you paid, but will need a valid reason and will need to inspect it.

They will only cover you for the amount you paid, until they inspect it. Then once they have inspected it, and they agree that it is worth the higher amount, the new cover comes into effect.

You have a VERY valid reason, the salesperson at the car yard thought it was a 95 model. Do a search on the web for cars like yours for sale, and print this out for proof to back you up, '98 models are more expensive are are auto/tiptronics.

If I was you, I'd ring them back and say that you want to insure the car for a higher amount, as if it is written off the payout won't cover an equivilant replacement. Tell them you managed to get it extremely cheap because the sales person made a mistake, buy that you want the full proper coverage on the car. Tell them that you have spoken with other insurance companies and they are willing to do it, but they will need to inspect the car first. Let them know you are willing to have it inspected by them.

If you don't get a satisfactory result, I'd look elsewhere. As mentioned above, I'm with Just Car Insurance (as are a number of others on this forum) and I know from first hand experience that they will cover your car for the higher amount, but they will want to inspect it.

If your car is written off or stolen, you'd be VERY lucky to find another at that price, most will be $25K-$30K or more!

Whatever you do, do not lie to the insurance company or you could have your insurance voided when you need it the most! (at time of claim).

With the "Duty of Disclosure" you must be upfront and honest with them or else!

Be upfront and honest, tell them you bought the car as it was a bargain, due to the stupid salesperson, but that you want it insured for the value that others are selling for $25K-$30K. Trust me, the insurance companies want to take you money, and if you can offer them a way to get an extra $50 or $100 out of you, they'll take it.

...and without trying to hijack this thread into another one of those insurance-related topics (like what ruchi is doing ), i'm curious to know how many of you out there with modifications on the FTO has actually been reported to your insurance company?

TiNox wrote:The car is Black, with Red FTO Bucket seats.

I paid 21k from a car yard, its got 40k on the clock.

I checked the chassis code against what each character means (found the translation off the net) and it is a oringial 5-speed Mivec Version R.

Its had no mods what so ever, comes with strut bars and other extras the version r is meant to come with. (apart from climate control and folding mirrors )

Just curious, did you buy it from a car yard in flemington, next to sydney market?

perhaps you should start that as a seperate topic with a poll, Mikey?

ruchi wrote:perhaps you should start that as a seperate topic with a poll, Mikey?

well you know you want that more on your post count than i care about mine so why don't you set one up instead hehehe...

I think my post count and daily average is high enough... we all know who is king spammer here... M I K E Y !

R u 2 arguing for the sake of having more post counts????? Is the quality, not quantity boys.

And i know i don't have either of them on my counts/posts

FTO338 wrote:R u 2 arguing for the sake of having more post counts?????

Not for me, I don't have any size issues!

ok then, but who makes the most fuss about my post count around here hmmm??

don't make me show them that PM you sent me Ruchi!

Blaze, yes i did, did u see it?

TiNox wrote:Blaze, yes i did, did u see it?

yeah, I was checking the car with my mate few months ago, when he was looking for a car, not fto. It did say 95 gpvr, and i was wondering about the manufacture date but i didnt go to the detail.
It looked original and stock, but didnt check under the bonnet and interior. They have some fto's, besides silvia, skyline, turbo lancer, etc.

Congrat on becoming club member and happy fto owner! Look forward to see you and your new ride in the coming cruise!