Calculation of vehicle value based on Mead & Mcgrouther system

Question

My car was declared to be a write off last month, according to insurance of my car. It was insured for the market value and they said the market value of my car was R55,000.00. This was determined on Mead and Mcgrouther system basis. When I checked with other car dealers, the value of my car wasn't the same compared to stated amount from insurance company. My car was "Toyota Corolla" 2003 model 160iGLS and sedan, km 185800. Could you please tell me how much is the value of my car and if possible, can I get the information or proof of the value of the car?

Answer 1

Unfortunately, the only one who can assign a property value to the car is the official dealer. You need to visit one of the dealers in your city to assign a value to the car. The Mead & McGrouther Data Digest application is used by them and end-users can't establish an official value, but you can sell it for the amount of money you want. Nobody will question that. The problem is finding buyers who are capable of offering the money you're asking.