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Smart Shopper Replacement Cost by Insurance Company for Totaled Vehicle
196 messages, Last post on Nov 17, 2009 at 7:17 PM
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Replying to: mcgrawp1173 (Apr 04, 2007 8:06 am) |
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Replying to: eviljoe (Apr 08, 2007 11:39 am) 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. |
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Hi! 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!
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Replying to: ledheadmelli (Jul 11, 2007 9:26 pm) 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. |
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My 96 mustang was recently rear-ended and totaled. Now, the car had a lot of miles on it . . . brace yourself . . . 216,000. But she was in great condition, I always had the regular maintenance done to her, and she still had some years left in her without a doubt. Now, I know that the excess mileage is going to bring the value down, but the other insurance company deducted 40% of their starting price of the vehicle. This ends up being a charge of about 2 cents per mile for every mile my car was over the average (which is 120,000). 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 . . . 
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Replying to: lilgto (Apr 09, 2007 9:36 am) 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!!! 
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Can a car be totaled twice in Virginia? I have a car that was totaled several years ago, but I bought it back from the insurance company and had it repaired. At that time, that insurance company let me insure it with comprehensive and collision coverage. 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?
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Replying to: teacher8 (Dec 14, 2007 8:50 pm) 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. |
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Thank you for the prompt response to my query. However as far as I know I do not have a "salvage" title. Is this a separate document? At the time of the accident, my insurance company did not take the original title. They just adjusted the price of the settlement and allowed us to keep the car and have it repaired. They then allowed us to insure the car with both collision and comprehensive for the last seven years. I am now changing insurance companies. But I'm sure if the vin number is checked, the accident and the fact that it was totaled is recorded. Would that constitute a "salvage title"? 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?
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Replying to: teacher8 (Dec 15, 2007 6:36 am) If you think it's worth $260 per year for the coverage, keep the coverage. The insurer will pay if it's damaged again. |
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