Toyota Camry Written Off - What car to buy?

AliKay on 22/02/2021 - 23:03

Hi all,

Unfortunately we had an accident and our Toyota Camry Atara SX has been written off.

Insurance has only paid out $19K against the car. We bought it new for $33K back in 2016.

Now looking at the current market, it's hard to buy another Camry with a $40+ price tag and seems like we will have to downgrade.

We can look around for something around the $20K mark or may be add another $10K to buy new. Problem is, I've never bought a used car before and not very technical when it comes to testing a used one…

Looking for advise on which option to choose and which car would you recommend coming from a Camry?

Will it be a good idea if we pay $20K down payment and finance the remaining $10K if we set a budget of $30K? Looking at Carsales, I see our options could be i30, Cerato, Corolla, Mazda 3…

Appreciate some guidance… Thank you.

Automotive

Comments

  • SF3 on 22/02/2021 - 23:04
    +26

    Another Camry - it's a no brainer in OzB.

    • spackbace on 22/02/2021 - 23:52
      +1

      This

      Camry Ascent Sport hybrid is the sweet spot I reckon. 2018 onwards. Just unfortunately it's probably $25k+

      Worth noting there's a facelift due in April. This could have an effect on used prices (even given current world events)

      • dust on 23/02/2021 - 07:47

        Yeah current second hand prices are off the roof!

  • MS Paint on 22/02/2021 - 23:15

    Insurance has only paid out $19K

    Market or agreed value?

    How many kms and what was the condition like?

    • AliKay on 23/02/2021 - 07:07
      +2

      Market value. Had done 45,000 kms

      • brad1-8tsi on 23/02/2021 - 09:01
        +1

        Market value is for the birds although you should have benefitted from current stupid prices.

        • AndyC1 on 23/02/2021 - 09:03

          So what is the market price for a similar Camry from dealers? This should be the payout figure IMHO so you can buy a replacement equivalent car.

          This is how you play the insurance game when agreeing to a payout. Also lookup the redbook prices and use this as well.

          • MS Paint on 23/02/2021 - 09:26
            +1

            @AndyC1: Agree. This is why I asked.

            Should have pushed for $23-24k.

            https://www.carsales.com.au/cars/results?q=CarAll.keyword%28… Updated

            • fedwood on 23/02/2021 - 09:28

              @MS Paint: I just had a look at Carsales and $19k wont get you anything close to what your previous car was.

              I also think it should be closer to the $25K mark for your negotiations.

              • MS Paint on 23/02/2021 - 09:29
                +4

                @fedwood: Yep. Op was raped by their insurance company.

            • AndyC1 on 23/02/2021 - 09:33

              @MS Paint: It is not what you asked as "Insurance has only paid out $19K against the car." indicates you have already accepted the insurance payout.

              My post was about how much you should have asked for the insurance payout, not what you can buy.

              You asked "Looking for advise on which option to choose and which car would you recommend coming from a Camry?", which I did not answer as car prices are crazy at the moment.

              • MS Paint on 23/02/2021 - 09:35

                @AndyC1: Ummmm. I'm not the OP

              • AliKay on 23/02/2021 - 09:53

                @AndyC1: @AndyC1: I tried to negotiate but they wouldn't budge. Car had a little hail damage and another scratch on one of the doors, other than the major damage which was caused by the accident.

                The accessor's argument was that they are deducting the amount which would cost to fix those existing damages.

                • MS Paint on 23/02/2021 - 10:20

                  @AliKay: Dang! Hail damage. No wonder.

                  • SD2310 on 23/02/2021 - 11:00

                    @MS Paint: I got offered 7000 for my 2007 Corolla with 140,000 on the odometer. I managed to push them up to 8500 given the current market

  • loropy9 on 22/02/2021 - 23:40

    Basic Camry $40K plus? You might want to double check that.

    • spackbace on 22/02/2021 - 23:53
      +3

      Likely trying to match spec, so would be looking at SX

    • AliKay on 23/02/2021 - 07:08
      +1

      Yes, was looking at SX, not the base model

      • [Deactivated] on 23/02/2021 - 11:06

        Base model nowadays might be similar/better equip than 2016 SX?

        • AliKay on 23/02/2021 - 11:19

          I will check. Thanks.

  • hm on 22/02/2021 - 23:56
    -1

    Corona

  • Bretttick on 23/02/2021 - 01:29
    +3

    You should look at how much your camry is selling on carsales atm.

    Look at same model colour KMs, if insurance has given you much lower. Make a complaint, show them prove. If it's not resolved file complaint with ombudsman.

    I did this for my car years ago and got an extra 3k as they low balled me

    • Travis J on 23/02/2021 - 05:02

      This only works if you didn't set your own amount at time of signing up to your insurance, right?

      • brad1-8tsi on 23/02/2021 - 09:02
        +2

        No, you can negotiate. The insurance company will always low ball you in the first instance

      • OpayuOnam on 23/02/2021 - 13:24
        +1

        yes, only works if you use market value, don't know why you got negged.

      • Bretttick on 23/02/2021 - 18:31

        Nope, insured for market value but they still try to be smart.

        All insurances are the same love to take your money, find all sorts of reasons to pay you less when you claim

  • UnknownUser74 on 23/02/2021 - 01:37
    +4

    Aurion with the 3.5V6

  • ozwog05 on 23/02/2021 - 02:07

    Camry Hybrid. I'm surprised how inexpensive the older models are, which perhaps you should consider in the current market, as your losses won't be as great when the shortage blows over, then you can sell it & buy a newer one for a more competitive price.

    • May4th on 23/02/2021 - 02:18
      -2

      i probably wouldn't get a hybrid older than 3yrs considering hybrid technology has progressed significantly in the last few years and bearing in mind the warranty period on batteries is 7 years, better off with a good old ICE if looking at older models

      • OpayuOnam on 23/02/2021 - 13:31

        nope wrong. Toyota Hybrid tech has not changed much.
        Specially the 3 year mark.
        Even the early 2000 Prius is not much different to current one electric wise. Toyota still using the same NiMH batteries.
        One reason new ones are more efficient is the ICE part is more efficient (using Atkinson cycle, and other tricks). Perhaps the biggest change in hybrid is some of the new models that use 1st gear for + CVT for better off the line acceleration (CHR and NX use this) but I don't think Camry has this drivetrain yet.
        And depending on how it's driven the statement of ICE is better is completely wrong, and old hybrid will still result in better fuel around town and much nicer ride quality given battery is not completely capoot.

        • spackbace on 23/02/2021 - 14:26

          Ugh, also full of incorrect advice

          Toyota still using the same NiMH batteries.

          New model Camry uses lithium. However the difference is negligible.

          Perhaps the biggest change in hybrid is some of the new models that use 1st gear for + CVT

          The petrol models get this (Corolla, RAV4), not hybrid. All hybrid models are pure CVT (don't need a 1st gear with the electric motor also providing the low down torque for off the line performance).

          To go back on the earlier comment:

          i probably wouldn't get a hybrid older than 3yrs considering hybrid technology has progressed significantly

          I would agree. The 'kick' felt when the petrol engine kicks in has been lessened with the new models (2018 onwards) when compared with the locally made Camry's.

          • OpayuOnam on 23/02/2021 - 17:38
            +1

            @spackbace: I stand corrected on the launch gear.
            OP has a $20k budget so the 2020 Camry with Lithium is out of their budget.
            As for "kick" feel I don't know about the new Camry as I haven't driven any Japanese Camry yet but comparing a MY09 Camry Hybrid (local) and a 2014 ES300h (Japanese) the difference for me is not that huge. I have always associated the difference to Lexus having better NVH as it was the case with older local V6 Camry vs Japanese ES300. This is coming from having driven both these cars for extended periods of time and not just going off the marketing material.

            So I want to know in all honesty you would advise OP to get a none hybrid Camry vs hybrid one with their $20k budget? Even considering they have done 45kKM in 4-5 years?

            • spackbace on 23/02/2021 - 18:10
              +1

              @OpayuOnam:

              So I want to know in all honesty you would advise OP to get a none hybrid Camry vs hybrid one with their $20k budget? Even considering they have done 45kKM in 4-5 years?

              If we weren't in a post-Covid world, and prices were real-world, then yes the hybrid drives much nicer than the standard 2.5L. More responsive.

              For most of the hybrid models, the drive itself is worth the price difference, not just the fuel savings.

        • May4th on 23/02/2021 - 18:55

          not sure what's controversial about the points I made. battery has a finite life cycle whilst Toyota ICE engines last practically forever with good maintenance.

          2016 camry hybrid has a combined fuel efficiency of 5.2L/100km whilst 2020 camry hybrid is 4.2L/100km.

          sure, it's a nicer drive, but we are looking at value over performance. guess which one will have a better resale value after another 4-5years when your 8year / 160k km battery warranty runs out?

  • Kranbone on 23/02/2021 - 05:38
    +1

    Have you accepted the offer from insurance? It seems some cars have had strong shifts which have affected their market value. I had to call my insurer when renewal time came as the value suggested did not reflect the paperwork (mine was a Corolla).

    If I was in your situation, I'd go again with another Camry.

  • Euphemistic on 23/02/2021 - 05:58

    Do you have any reason not to get a Camry other than price? Ie want a smaller/larger car? Toe shortlist seems to be a segment smaller and hatchbacks.

    • AliKay on 23/02/2021 - 07:16

      The Camry was our first car here in Australia and we got it on a 0% interest rate at that time. We bought a Kluger a couple of years ago which has become our family car and the Camry was driven by my wife.

      So yes, the replacement car will be for the wife that's why looking at cheaper options. If price wasn't an issue then we would've gone with another Camry definitely…

      • Euphemistic on 23/02/2021 - 07:43
        +3

        Not a great time to buy. Used prices are up, new car supply is down.

        Go drive a few of your shortlist and pick the one You AND your wife like best.

  • pharkurnell on 23/02/2021 - 07:18
    +4

    A Leyland P76 would be an upgrade from a Camry

  • jtc13 on 23/02/2021 - 07:29
    +4

    With the second hand market higher than normal I would consider a brand new Kia with a 7 year warranty. Can probably get a top of the range cerato near your 30k mark if you haggle well.

    • AliKay on 23/02/2021 - 10:48

      Would KIA lose more resale value compared to Hyundai & Toyota?

      • MS Paint on 23/02/2021 - 11:32

        About the same as Hyundai and more than Toyota

        • AliKay on 23/02/2021 - 15:47

          @MS Paint: Am I correct to say that a Corolla will be a better buy than i30 if we look at selling them in a few year's time m

          • MS Paint on 23/02/2021 - 15:50
            +1

            @AliKay: Generally speaking yes

          • Euphemistic on 23/02/2021 - 16:50
            +2

            @AliKay:

            Am I correct to say that a Corolla will be a better buy than i30 if we look at selling them in a few year's time

            Historically Toyota has had a better resale value than Hyundai. However if you are paying more for the Toyota in the first place the ‘better resale’ may not make up as much difference as you think.

  • dust on 23/02/2021 - 07:47
    +5

    Don't finance a depreciating asset.

  • Brucet on 23/02/2021 - 09:05
    -1

    Avoid used car.
    Under 30k.You can consider Corolla or Honda brand.

    • Euphemistic on 23/02/2021 - 10:38
      -1

      Why avoid used?

      I avoid new, too much depreciation.

      • [Deactivated] on 23/02/2021 - 11:08
        +1

        These days some used cars are quite close to brand new. When factoring in rego/brake/tyre (pro-rata) and stamp duty. The difference is negligible.

        • AliKay on 23/02/2021 - 11:21

          The problem is their pricing is close to brand new as well these days :(

        • Euphemistic on 23/02/2021 - 12:19
          +1

          I guessed why it was posted, but others might not.

          If you are going to throw down a blanket statement like ‘avoid used’ give us a bit more info.

          There is no reason to completely avoid used if that’s all your budget will reach. Sure, it makes sense to go new that if it’s only a couple of % more to a new one, you get some benefits from that like extra warranty.

          If it’s going to be a financial stretch to go new, just get something a bit older.

  • Brucet on 23/02/2021 - 10:43
    +1

    If you are unlucky, a second-hand car may make your repair more expensive.

  • Brucet on 23/02/2021 - 10:44
    +1

    I prefer new.

  • ECE on 23/02/2021 - 18:19
    +1

    Toyota Camry 😷
    /end thread

  • Trying2SaveABuck on 23/02/2021 - 19:09
    +1

    If you dont care about looks i'd say buy a Kia Cerrato - it is boring af but it is a good reliable car and doesnt cost an arm and a leg like Toyotas do now

    Please note - right now is probably the worst time in history to buy used car and not a great time to buy a new one

    Due to not many cars being purchased last year and a lack of microchips and other parts cars are incredibly expensive right now

    If you can wait till the end of the year if not 2022 you should

    • AliKay on 23/02/2021 - 21:06

      I test drove Cerato, i30 and Corolla Sedan.

      Would rate Cerato 3rd according to my liking.

      i30 Elite and Corolla SX felt kind of similar. But i30 Elite had all the bells & whistles and felt modern compared to Corolla.

      I30 Elite (top of the range) priced at $31K whereas Corolla (mid range) at $32.5K.

      Confused…

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