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Unfortunately since the repairs have already been done I don't think there is anything you can do. If you wanted to argue as to weather or not the car should have been totaled that probably should have been done prior to the repair process starting.
I may be wrong though, I don't work in the insurance industry
$1000 or $1500 of damage might be enough to exceed the wholesale value of say a 10 year old car.
If your car is totaled by the insurance company do they simply pay you the low wholesale value and then take the car or do they let you keep it?
If the damage is mainly cosmetic I could see putting some money into making it road worthy and forgetting about the appearance. However, if the insurance company takes the car you would be out the difference between wholesale and retail cost.
What do the experts think?
2019 Kia Soul+, 2015 Mustang GT, 2013 Ford F-150, 2000 Chrysler Sebring convertible
No they don't let you keep it. They get salvage bids on the car and sell it to recoup part of the claim. Itis not uncommon for people to buy back there car though on the salvage bid.
My questions is, IF my truck is totalled, how much can I expect to get for it--is it used retail, private party or trade-in? The truck was brand new!!
Also, is there any way I can get the kid to pay my deductibles and the difference that GAP would have paid?
The police told me that even if I hired a lawyer, there was no way to "squeeze blood out of a turnip"!
What if he has no money or assets? Am I just out of luck--as if he'd taken a few thousand dollars out of my pocket, set it on fire, and walked away?!?
IF they do repair it, but it's just not the same and has repeated problems, is there anything I can do about it?
Thanks!
People who have assets or money don't drive on a suspended license without insurance so, yes, you're SOL. Sorry, life isn't fair.
As for your last question, push hard to get the thing declared a total loss so as to avoid a variety of potential future issues.
-mike
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Now for you damages, you did not mention any body damage so you must have really gotten lucky and did not hit anything on the curbs. My stab in the dark would be new or like new rims, possibly tires will have to be replaced, suspension parts more than likely suffered some damages and don't forget about Wheel bearings. Just be thankful you are alive to actually write about it. Good luck with the repairs.
You can sue him in small claims court. It costs about $15 to file, and you don't need a stinking lawyer. You should be able to get his address and maybe SS number from the police report. You can search local records as to what he has to his name. Or just spy on him, see if he has another car, house, trailer, motorcycle, ATV, boat.
Once the judgement is entered in your favor, send him an official request to pay. He has 30 days to do so. If he fails, turn over all the information you gathered on him to the Sheriff. They will seize his assests, take their cut, and give you the rest. They can garnish his wages... I have done it a few times in NY.
If he has 2 more outstanding judgements against him, you get to collect triple damages.
Check with FL small claims laws before proceeding.
I've been pouring through these forums looking for an answer to my question, but can only come close so far.
I purchased a 1995 Maxima GLE not quite a year ago. It had all the perks, was flawless in and out and had 56k on it! Carfax check revealed a little old lady owned this car and had it serviced like clockwork. Unfortunately, the front end was injured in an accident and the car was totalled. A body repair guy bought it, made it good as new and sold it to us. The mechanic we took it to said we got a great bargain and felt the car was worth at least $6k, even with salvage title.
The car was mostly garaged while I owned it, although I did put a small bump in it backing into hubby's van - a 'pop-out' type of injury, no scratches to paint. It had 64k on it by now as I owned it for 10 months.
Then some idiot on a cellphone rear-ends my baby on the freeway and causes $6000 damage, so her insurance decides to total my car. After dragging their feet for 11 days, they finally offer me $4000, which I refused. KBB on that car with (unheard of) low mileage and my options comes to around $8200, assuming clean title, which of course it isn't. I can understand that there must be some adjustment for the salvage title, but just how do you FAIRLY determine the value of a car like this? To get that kind of mileage, I'd need to move up to a 2002 or better. The leather interior was like new - no stains or rips anywhere. The chances of finding a 95 Max GLE (or Toy/Lex/Inf/Honda equal)with 64K on it, much less a salvage title to boot, are NIL. Finding one of these in my neighborhood, with 2 or 3 times the mileage, will run $5500 and up.
I sent several emails to the adjuster showing salvaged vehicles - most lesser versions of my car, all with much higher miles - that were selling for $5-6000. I also included an invoice for the fancy tires we had bought just a few months before ($500 if you DON'T have a nephew who manages a tire store). I felt that my car and the related expenses of replacing it was worth at least $6000, and made it clear that I thought their "53% subtracted for the salvage title" was arbitrary and ridiculous.
So, my question is: how do you determine the value of a car with a prior salvage title? Obviously, the condition of the car should have some merit. If all repairs are done and the car is made 'whole' again, why should a person have to suffer such a big loss over what amounts to nothing more than a word on the title? (When I was sick for a month last year, they sure didn't cut my pay when I returned, fully recovered, citing that I was now 'damaged goods')! So how can this designation be arbitrarily applied to an otherwise perfect car that has fully recovered from it's injury?
I just wonder who gets to make these decisions anyway.
For my part, I held out through the feet dragging, got my own insurance company involved (I love you Liberty Mutual!) and agreed to accept $5860 total.
I think I did alright, but I'm wondering what your opinion is on this whole arbitrary salvage title deduction. I will never again buy a car without a clean title because of this, no matter how wonderful the car is.
ps - I've learned an awful lot reading through this forum - thank you all for the education!
I don't know about others but figure a salvage title always knocks at least one-third off a car's value. While a precise calculation may be a bit arbitrary, the fact will always remain that any given vehicle is only worth what someone will pay for it. Salvage title equals big hit on price.
Again, I knew I was going to take a hit on mileage, but this seems ridiculous. I was told by people I know that more typical would be 1 or 1.5 cents per mile, but I don't know where I can go for evidence that this 2 cents is excessive. Any ideas?
Also, they charged me $175 for a replacement windshield. The glass hadn't been replaced recently, and there was one small chip (no bigger than a pencil eraser-tip) very low on the driver's side. Is that grounds for replacement?
Thanks . . .
On another note my State Farm is taking the trucking company to court and the driver to recover the funds for the repairs, it ranged into the thousands. Thanks and happy motoring!!!
Now I am changing insurance companies and the car is 13 years old. Should I pay for compre. and collision insurance? Since its value is only $2500-3000 according to Edmunds, it wouldn't take much damage to be declared "totaled" again. Does the insurance company devalue the car because it was already totaled? Is it worthwhile to pay for the extra insurance?
Insurance companies pay what a car is worth. A car with a salvage title is worth significantly less than one with an unbranded title.
Comp is a tougher call and depends on the deductible and cost.
As far as dropping the collision, the extra amount that I was quoted for both comprehension and collision with deductible of $50 and $100 is only $130 more for six months. These seems low and maybe worth paying unless the collision would not pay at all if the car was deemed "totaled". I have heard that a car cannot be declared totaled more than once. Is this true?
If you think it's worth $260 per year for the coverage, keep the coverage. The insurer will pay if it's damaged again.
I think you need to explain the situation completely to the new insurance company and see what they say. No need to pay them if they are going to deny any future claims based on the history - which they will discover in the event of a claim (if not sooner) whether or not it is disclosed up front.
Let us know what you find out!
btw its a 95 sunfire
I don't think so. Essentially, the criterion for "totalling" a vehicle is that the cost of repair has to be comparable to its replacement cost.
tidester, host
SUVs and Smart Shopper
How many miles do you have on it? I can imagine that there are some '95 Sunfires that might only be worth $500.
Which begs another question? You are still carrying collision on a '95 Sunfire?
Regards,
kyfdx
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If your car is a creampuff, with only 75K miles? Then, it might get fixed..
regards,
kyfdx
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Yes
The cost of the front suspension will probably be more then the car is worth
The short answer to your question is "yes" but that depends on what kind of a contract you signed. If you provide a little more detail we should be able to get you to the right place to discuss your issues.
tidester, host
SUVs and Smart Shopper
Also, do the trade-in and retail values shown on the estimate have any relation in reality to the "actual cash value" that they would supposedly offer on a totaled car?
The initial repair estimate on my '04 Mustang Coupe is $8,520; on that estimate, "clean" trade-in on my car with all options and low mileage credit is shown as $10,825 and "clean" retail value is shown as $12,925.
The operative word is "initial". After the body shop tears into it, the chances are very good they will discover hidden damage so why wait to declare it a Total?
:sick:
Is this an acceptable insurance practice...since I have been paying full coverage on the vehicle?
If the truck is a total loss, can I buy it back from the insurance company for the salvage value?
Do I have any other options
The vehicle is a total loss. Decide whether you want to keep it or not. The insurance company will be happy for you to take it and less money from them.
ins co says they very likely will total it. My situation is I am not in a position to buy another vehicle. what are my options?
I have a 99 Mercury Villager Estate- ir runs fine but had 95 k milelage.. I really like it and hate to let it go..tires are good, ac works, tinted windows...
if they allow me to "buy" it back for salvage, will I then be unable to get even liability ins which is required by law?
I am a senior citizen and on fixed income.
Does your policy include Uninsured Motorist Property Damage Liability? If so, make your claim under that coverage because the deductible is a lot less. Usually, no more than $100.
so if I "buy" back vehicle as salvage...there is no guarantee I can obtain liability since my ins company will report it as salvaged...aghhhhhhhh...
If I had known this I would not have filed a claim and would have driven the darn thing til it fell apart..
now it appears I will be looking for a very very cheap car...
thanks for your help...
I do have uninsured motorist coverage and that is what I am using...
thanks.
Anyway, I have a 2005 FX4 F-150 4WD Crew Cab with 32,000 miles.
Current estimate to fix is coming in at somewhere between $11,000 and $12,000. The body shop is using $20,800 (Year, model, miles, options and sales tax) as pre-accident value. In Kansas the threshold to total a vehicle is 75%.
Which means using his value he could repair up to $15,600. I believe even the 75% ($15,600) is valued too high for a 2005.
I am prepared to just have them pay me the cash, satisfy the loan and be done with the vehicle. Plus they need 26 working days to fix the thing!
Does Kansas have a diminished value option? I know that the guy at the body shop sees this is a great chance to have a big repair in the shop. He said I could always sell it once it is repaired so I don't lose too much money. I said great have one of your guys give me a bid, he should know you are good for the work. Of course he says, They will not bid until the damage is fixed. Let me take a wild guess, it will be bid at less than the repairs estimate.
Thoughts or ideas?
Thanks, Paul
Ask the body shop what percentage of estimtate usually involves "hidden damage"?
Don't expect your insurance company to pay off your loan if the balance exceeds the worth of the vehicle.
Luckily, we have three vehicles so there is not the need for a rental car.
To me, putting $12,000 into a 2005 Ford Truck is a not a good idea. There would undoubtedly be more repairs as they begin to fix things, so I would imagine it is cheaper for the insurance company to just pay-out the initial estimate and be dome with the claim.
Is it my option as a policy holder to have the truck repaired or not? Provided the loan is satisfied I think this would be a moot point?
Paul
Suggest you pay off the loan and seek bids from salvage yards for the remains.
Any storage fees will be up to you so don't sit on your next move.
Remember to pro rate the license fees and if applicable the Sales Tax.
I bought a brand new 2007 saturn ion. I'm half way through my payments. I also purchased a 5 year extended warranty. On the 24th of december I parked my car in front of my house which also happened to be underneath a light pole. at around 530-545am a car rear ended my parked car then proceeded to flip over and hit another car some 15-20 feet away. the impact had enough force to move my car about 10-15 feet from where i parked it. This all happened while i was sleeping in my bed. I woke up and checked to see if the driver was okay, and she was. I found out yesterday that my car has been totalled but they didnt give me an amount. Im afraid that the amount i get will not be enough to pay back saturn for the car i purchased and i dont have enough to buy another car. what are my options, and is there any way i can get reimbursed if the remaining balance is indeed more than what i get for my car being totalled? I'm really worried... I had a perfectly fine working car practically new and i woke up to a totalled car...
1. Balance owed on your loan.
2. Value of your vehicle.
They were not related before the crash & they are not dependent on each other after the crash. When you owe more than the value of the vehicle, you still owe that amount. Insurance companies do not care about your loan balance and why should they?
My car is a 2010 BMW 335 d that I ordered, waited for, finally received, and drove for less than one month before it got jacked. It only had 1100-1200 miles on it (I didn't even get to put the new plates on yet). It had to be flatbedded off.
Her insurance company (the "Good Hands People") jacked around so long that I had to go ahead and file the claim with my company (USAA). That's All State's stand. USAA said that they expect no problem settling up with them later.
After the tear down, USAA wants to call my vehicle a total loss but only want to pay me $40,000. This is a $54,000 car, essentially brand new. Edmunds prices a similarly equipped 2009 model at $46,560 retail.
Options anyone?
Smashed by texter in Ohio
The insurance company only wants to pay a low ACV (Actual Cash Value) and the valet company is "stuck" because they just want to allow the insurance carrier to pay the ACV and the settlement claim be done. I am not asking for more than what I feel should be provided with consideration that they had full control of my vehicle. I was not planning on "selling" or "trading-in" the vehicle anytime soon, but paying it off and keeping it for a few more years.
I am having a difficult time negotiating the amount since insurance companies are used to low balling the values, regardless of fault (valet driver was at fault in this case, and three cars involved) and there are not precedents on insurance companies paying any more, outside of litigation. However, this is not a normal situation.
Why should I be in an upside down financial situation because of this companies negligence, especially when they are in the business of driving other people's vehicles? I have line item justified my settlement requests and am still in negotiation mode with valet company upper management and legal counsel. I also have all the pictures of the totaled vehicle which is completely damaged, since it was flipped and rolled and had a traffic pole fall on it after it knocked it off the base on the sidewalk.... and the hotel chain is taking an interest in whether the valet company is attempting to settle?
I would like to provide Replacement Value assessment to the insurance carrier so that they can "line item" there settlement within their companies policies but having a difficult time finding that. I am using a current vehicle, less two years old with same mileage as what was on that vehicle when I bought it in 2008, two years old.
Any suggestions, recommendations, links, etc... are welcome.