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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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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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Last week i was sitting at a red light and was rear ended by a drunkdriver at 50mph. (actually he hit the car behind me). Neither the drunk driver nor the driver behind me had car insurance. Today i was called by the claims guy saying that the car was to be totaled. It was a 2001 VW Passat GLS with 49K miles and i live in phoenix AZ. My prognosis doesn't look good... what kind of market value could i expect? ~Ben
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Replying to: benc1 (Jun 16, 2005 3:23 pm) |
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Replying to: joecia (Aug 10, 2004 7:56 am) |
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Hello all, I hope I am doing this forum correctly now. I originally put my question as a reply. Anway, my son got in a car accident this morning, he and passenger are fine, but it looks like the car may be totaled (esp. after I read they could decide to total it if it costs 51% more than the cash value). I'd like to be prepared when the adjuster comes by next week so we fully know and understand our options. The car is a 2005 LS Sports Coupe Chevy Cavalier, it's 4 months old and has only 1,500 miles. I'm so confused as to what I should expect...I've read some articles which say the insurance company is supposed to find you a comparable car, but I cant' believe that's going to happen. Would it be silly for us to expect the insurance company to write us out a check for the full amount we paid? Because it's so new, I doubt I can find any similar cars to compare, other than brand new ones. I will talk to the car dealer Monday morning and pick his brain, but PLEASE, in the meantime, would someone direct me to some sites where I can learn a bit more, or explain in simple layman's terms what to expect. Even tho our insurance covers a rental car, we don't plan on using that option just yet--it's too easy a solution and would make life too easy--I think my 19 year old needs to understand what consequences his bad decision resulted in. I greatly appreciate your time in helping us sort this whole mess out when it comes to totaling a car. Where should I start? Thank you.
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Smart Shopper Replacement Cost by Insurance Company for Totaled Vehicle
