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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: 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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Replying to: joannes (Jul 16, 2005 3:50 pm) To put it another way, given the choice between your car with 1,500 miles on it and a brand new un-driven identical car with 5 miles on it, which one would a person buy if the price were the same for both? Right, the new one. Now then, the goal of this negotiation is to decide HOW MUCH LESS you would have to offer your car for, with its 1,500 miles, in order to get that buyer to NOT buy the new car, but to buy yours. As you can see, to tempt the buyer, you'd have to give them a "break" off the new car price. How much? Well that is arguable. Probably somewhere between what a new car sells for and what a rental car from Hertz sells for after 10,000 miles. Somewhere in there. Keep in mind too that if your car is totalled, the insurance company ALSO has to under law give you back your sales tax and license fees, so that's probably another 8%. So when they make their offer, make sure they haven't already blended in the tax and license, because that makes their offer sound more generous than it is. Hope this helps.
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