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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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My son just totaled his 2nd car in 2 years. Thought I knew what I was doing with this mess from the last time. Now the blasted company has changed the rules. Last year, in order to get a fair price, I was told to get local prices from dealers, individuals, etc. Worked out fine. I was able to get an additional $4000. This time, I've been getting a runaround. Can't get a legitimate answer from them on HOW they've reached the price they're offering. They just faxed me a copy of something from CCC valuescope market. OK, it shows they've used ads in the paper (not our city, but others in a nearby area) they show mainly individuals, one regular Honda dealership and a buy here/pay here dealer. I tried to get the adjuster to at least look at the local cadillac dealer comps. He's insistent that they "Don't use retail prices, since no one pays that price". But the papers he sent me are exactly that- except they favor the insurance company paying less than I think is comparable. I realize I can't get them to pay full retail- but they are offering about $6000 less than the closest dealership price- on a car with 10,000 more miles. Also- does anyone know if GM certified means anything to them? I know it added $$ to the original cost of the car, and we hadn't even used all the factory warranty up yet. Seems like this should be figured in somewhere. Thanks!
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Replying to: luckymom (Jun 13, 2005 12:28 pm) You may have to go to arbitration since you are so far apart on value. As for comparables, you should really be looking at private party sales and so should they, as dealer asking prices are generally quite inflated as they hope to catch an uninformed buyer. If you gave details of your car (model, make, year, options, condition, miles, etc.) I might be able to come up with a ballpark number and you can compare that to what you want to see if you are being realistic.
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Replying to: Mr_Shiftright (Jun 13, 2005 1:46 pm) I think the thing that's ticking me off is they are willing to use a buy here/pay here dealer that deals in auction cars, but not a regular dealer. I understand nobody pays full retail, but really a buy here pay here dealer price is more legitimate???
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Replying to: luckymom (Jun 13, 2005 2:36 pm) |
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The insurance company just offered us $4700 for our totaled ''95 s10 blazer. They said that if we wanted to buy it back it would be about $1200. Does that sound right? I thought buy back was around 10% of the vehicles worth.
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Replying to: rellimdr (Jun 14, 2005 11:10 am) Yes, my experience is that 10%-13% is about the norm. Are you sure they aren't wrapping your deductible into this number? Also, they must offer you tax and license fees on top of that $4,700, but if you buy the car back they don't owe you tax and license fees. |
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The girl that hit the blazer was found totally at fault. So her insurance company is the one handleing everything. So as of now her ins. is paying us $4700 and they're giving us a tax waiver for up to that amount to pay for license on a replacement car. Here is a photo of the damage. http://www.frycustom.com/users/chevyscrounger/Pictures/blazerwreck/rear.JPG I hoped it could be bought for $470 so this $1200 just seemed a little over the top.
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Replying to: rellimdr (Jun 14, 2005 2:36 pm) |
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For parts, I would have no intention of fixing it.
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Replying to: rellimdr (Jun 14, 2005 3:44 pm) Try to work a deal with them where they can give you cash + the car. Right now they are essentially (it sounds like) offering you $3,500 + the car ($2,500 = $1,200) + tax and license. Sounds like you'd settle for something like $4,700 minus say $500 bucks to get the car back...so you want $4,200 plus the car in other words--something like that? So really you might only be $500-$700 apart here---well within the realm of negotiating. Give them your counter-offer and tell them here's a chance to clear their books on it. |
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