T2urtle
Diamond Member
ok Guys i'm looking for a little more info on these situations. I understand every case is diffrent and i'm trying to use ball park figures here.
Say i own a modified car, full coverage on the car with a deductible of $250. Say i bought the car for $4500 and the kbb/nada/edmunds is about 5500$. And then i get in a accident, reguardless of who's fault. Worst case would be i put down $250 for the deduct. and insurance adjusters and claims comes in and tell me total lost.
Do they normally end up offering about kbb vaule say $5000 check from them? Now if i was going to take it i would have to sign the title of the car over to them. How does one go about buying back the car for say a parts car? Because so far i've been reading on forums that, you take the $5000 check and ask for a buy back and well in most cases they sell it back for say 3000$ and then you can part it out or drive it AS-IS. making $2000 off the deal or taking $5000 w/o a car. Is that how it goes? Or if you want the car back you have to give back the $5000 check and take the car? Is my 3000$ price too high for a damaged car? Would it fall under the terms of negotiation on price, because its kinda like buying a car all over again.
Also say you only had liability and someone hit you, completely their fault, would the same situation apply. since its their fault the insurance should give you the $5000 but buy-back is optional on their part.
Can a insurance company DENY you chance to buy back the car?
i'm asking because PLENTY of accidents happen around winter time, i figure it helps some of us mid-class/lower- class people like myself to have this type of information. Obviously any damage to a 30k+ car would result in repairs.
Say i own a modified car, full coverage on the car with a deductible of $250. Say i bought the car for $4500 and the kbb/nada/edmunds is about 5500$. And then i get in a accident, reguardless of who's fault. Worst case would be i put down $250 for the deduct. and insurance adjusters and claims comes in and tell me total lost.
Do they normally end up offering about kbb vaule say $5000 check from them? Now if i was going to take it i would have to sign the title of the car over to them. How does one go about buying back the car for say a parts car? Because so far i've been reading on forums that, you take the $5000 check and ask for a buy back and well in most cases they sell it back for say 3000$ and then you can part it out or drive it AS-IS. making $2000 off the deal or taking $5000 w/o a car. Is that how it goes? Or if you want the car back you have to give back the $5000 check and take the car? Is my 3000$ price too high for a damaged car? Would it fall under the terms of negotiation on price, because its kinda like buying a car all over again.
Also say you only had liability and someone hit you, completely their fault, would the same situation apply. since its their fault the insurance should give you the $5000 but buy-back is optional on their part.
Can a insurance company DENY you chance to buy back the car?
i'm asking because PLENTY of accidents happen around winter time, i figure it helps some of us mid-class/lower- class people like myself to have this type of information. Obviously any damage to a 30k+ car would result in repairs.
