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Buying back totaled car from insurance

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cliftonite

Diamond Member
Jul 15, 2001
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A few weeks ago someone ran a stop sign and plowed into my Accord (2002 EX V6). The insurance decided that they would rather total the vehicle instead of repairing it. Today I asked if I could buy it back from them and they said that it would cost ~$1600. They were going to give me ~$5200 after the deductible so if I decided to buy it back I would get around $3700. The police report states that the other driver was at fault so I will eventually get my $750 deductible back. I was going to keep the car if I could get it repaired without paying anything out of pocket, however the owner of the shop that was recommended is out on vacation and I wont be able to get an estimate until next Monday. I really would like to keep the car and drive it as long as I can, before the accident it was in great condition had new brakes, battery, etc. It currently has about 140k milies and I would like to keep it a few more years instead of wasting money on a new car.

Anyone know how they arrive at the $1600 price? Anyone successfully negotiate that price? I felt that the car was worth more than what they were offering but they would not budge on the price.
 

halik

Lifer
Oct 10, 2000
25,696
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It's more or less negotiable - how bad is the damage?

Also the collision payout is definitely negotiable - take a look and see how much the cars are selling for and go argue with them. I'm pretty sure you can't buy a replacement 2002 v6 accord for 5200 bucks.
 

cliftonite

Diamond Member
Jul 15, 2001
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Originally posted by: halik
It's more or less negotiable - how bad is the damage?

Also the collision payout is definitely negotiable - take a look and see how much the cars are selling for and go argue with them. I'm pretty sure you can't buy a replacement 2002 v6 accord for 5200 bucks.
I will take some pics tomorrow, I cant open either of the passenger side doors (the back door is totally fubar) I tried to negotiate the price but they would not budge :(
 

Gibson486

Lifer
Aug 9, 2000
18,378
1
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what insurance company is this? I will make sure to not get them or ditch them if i have them.
 

cliftonite

Diamond Member
Jul 15, 2001
6,877
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Originally posted by: Gibson486
what insurance company is this? I will make sure to not get them or ditch them if i have them.
Ameriprise. I think I may be better off taking the money and buying a used Accord. One of my neighbors is willing to pay me $500 more than what it would cost me to buy the car back. That would be ~6500 that I could put towards a used Accord.
 

Greenman

Lifer
Oct 15, 1999
17,961
3,015
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Originally posted by: cliftonite
Originally posted by: halik
It's more or less negotiable - how bad is the damage?

Also the collision payout is definitely negotiable - take a look and see how much the cars are selling for and go argue with them. I'm pretty sure you can't buy a replacement 2002 v6 accord for 5200 bucks.
I will take some pics tomorrow, I cant open either of the passenger side doors (the back door is totally fubar) I tried to negotiate the price but they would not budge :(
Based on that statement, I'd say kiss it goodbye.
 

bruceb

Diamond Member
Aug 20, 2004
8,874
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I agree. If the doors don't open or close properly, the unibody took a substantial hit and is most definitely not straight anymore. Time for a new car and with damage like that, the $1600 buy back cost is way too high. Should be well under $1000 in most cases, unless the car was very new.
 

Bignate603

Lifer
Sep 5, 2000
13,897
1
0
Originally posted by: cliftonite
Originally posted by: halik
It's more or less negotiable - how bad is the damage?

Also the collision payout is definitely negotiable - take a look and see how much the cars are selling for and go argue with them. I'm pretty sure you can't buy a replacement 2002 v6 accord for 5200 bucks.
I will take some pics tomorrow, I cant open either of the passenger side doors (the back door is totally fubar) I tried to negotiate the price but they would not budge :(
It would take tons of work on a frame machine before it was anywhere near straight but it would never be quite right again. Argue up the check they're giving you and go replace your car. Let someone else deal with this one.
 

CptCrunch

Golden Member
Jan 31, 2005
1,878
1
0
Totaled? I'd say pass, especially with the damage you describe.

That and your insurance rates will be higher with a salvage title and most likely you can only get liability on it now (assuming you had more before).
 

alkemyst

No Lifer
Feb 13, 2001
83,967
16
81
Originally posted by: The Boston Dangler
the car has taken damage exceeding 80% of its value. time to move on.
a total is not at 80% usually...often times just within 50% of their calculated replacement cost.
 

halik

Lifer
Oct 10, 2000
25,696
1
0
Originally posted by: Bignate603
Originally posted by: cliftonite
Originally posted by: halik
It's more or less negotiable - how bad is the damage?

Also the collision payout is definitely negotiable - take a look and see how much the cars are selling for and go argue with them. I'm pretty sure you can't buy a replacement 2002 v6 accord for 5200 bucks.
I will take some pics tomorrow, I cant open either of the passenger side doors (the back door is totally fubar) I tried to negotiate the price but they would not budge :(
It would take tons of work on a frame machine before it was anywhere near straight but it would never be quite right again. Argue up the check they're giving you and go replace your car. Let someone else deal with this one.
Big $$$ you're talking here; that's not really something you can fix in your back yard.
If the car has to go on a rack, it's a write off from my perspective.
 

lurk3r

Senior member
Oct 26, 2007
981
0
0
Man I wish I had your insurance company. I just got rearended in my altima, the impact crushed the trunk to about 1/2 its size and he actually hit my bumper. I was begging them to total it, but they say its fixable for 7k.

Oh well, I have a summer project, going to keep taking the car back if it makes the slightest noise, pull, trans wont shift, color looks wrong in the sun etc.

As everyone else has said, run, don't walk away, if the doors wont open properly the car will never be right agian. The $1600 is what they have as a offer from a scrap yard. The only reason to buy the car would be if you had a tonne of work in the engine and it was worth way more than the buyout. Wrecking yards usually know their buisness very well though, its probably worth not much more than they offered for it.

 

cliftonite

Diamond Member
Jul 15, 2001
6,877
44
91
The contractor who was doing work on my house found a relative who is willing to pay me $2400 for the car (they have a friend with a body shop or something). Plus the contractor has agreed to finish a room in our basement (20X15, he will frame, put the sheetrock, compound, and the ceiling, I would provide material). I am going to call then insurance to get the price that I would have to pay as low as possible. Is there anything special I have to do to protect myself when I sell the car? Do I just remove the license plates, sign the title and give it to him once I get the cash?

This will leave me with around 7k and I am going to put that towards a used 2004 to 2006 Accord V6 which are around 13 to 15k with <60k miles (certified from dealer).
 

318Sunshine

Junior Member
Nov 15, 2013
1
0
0
Man I wish I had your insurance company. I just got rearended in my altima, the impact crushed the trunk to about 1/2 its size and he actually hit my bumper. I was begging them to total it, but they say its fixable for 7k.

Oh well, I have a summer project, going to keep taking the car back if it makes the slightest noise, pull, trans wont shift, color looks wrong in the sun etc.

As everyone else has said, run, don't walk away, if the doors wont open properly the car will never be right agian. The $1600 is what they have as a offer from a scrap yard. The only reason to buy the car would be if you had a tonne of work in the engine and it was worth way more than the buyout. Wrecking yards usually know their buisness very well though, its probably worth not much more than they offered for it.
I also have a Altima 2009 nissan that was rear ended which messed up my trunk and bumper now they are deeming car totaled and willing to part my lender 9, 000. I asked to buy it back and they tolded me no it would cost me 6k to fix it. Shouldn't i still be able to buy it bk regardless.

Please don't bump old threads.

-Thanks
ViRGE
 
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