Insurance wants to total vehicle

[KK]

Wife got into an accident at a 4 way stop, the person came up behind her smashed the back end up and pushed her into the truck in front. The car is a 98 Taurus with mileage in the 60's. It has leather interior, overall a decent car. Of course the value per kbb and edmunds has the value around 4100 since it's a ford and they retain their value like I do retaining mcdonalds food. Anyways, the insurance is offering 4100, which I feel is too low but probably close to fair based on valuation books. What would you do?

 

[Gibson486]

ummm...if the value is 4100 and they offered you 4100, what is the problem?

 

[KLin]

You can try arguing with them, but I doubt that would do much good considering they're offering you blue book value for the car.

 

[Tylanner]

fight the power

 

[Lola]

what i tell my customers to do is look at for sale ads in the area for similar cars and take those to your claims adjuster.

unfortunatly, cars depreciate so you just have to accept that, but a lot of times, they will take into consideration what other similar cars are selling for too.

good luck.

 

[Kelemvor]

Get an estimate on having it fixed. Since the other peron's insruance is paying for it, don't let them push you around. Talk to you own insurance people too (since it's not her fault) and see what they recommend.

 

[FrustratedUser]

Originally posted by: Gibson486
ummm...if the value is 4100 and they offered you 4100, what is the problem?

 

[acemcmac]

Originally posted by: LolaWiz
what i tell my customers to do is look at for sale ads in the area for similar cars and take those to your claims adjuster.

unfortunatly, cars depreciate so you just have to accept that, but a lot of times, they will take into consideration what other similar cars are selling for too.

good luck.

didn't realize that would work.

I've always thought that if I totalled my mustang, I'd be unable to afford the same car from the same model year and of the same milage with the insurance payout because of the bluebook-retail used car price discrepancy

 

[Lola]

Originally posted by: acemcmac

Originally posted by: LolaWiz
what i tell my customers to do is look at for sale ads in the area for similar cars and take those to your claims adjuster.

unfortunatly, cars depreciate so you just have to accept that, but a lot of times, they will take into consideration what other similar cars are selling for too.

good luck.

didn't realize that would work.

I've always thought that if I totalled my mustang, I'd be unable to afford the same car from the same model year and of the same milage with the insurance payout because of the bluebook-retail used car price discrepancy

sometimes it does. sometimes it doesnt.
I have seen it both ways.

I just think this helps to get "more" at a fair amount. It also depends on how much of a loan (if any) there is on the car as well.
It is not nice hearing someone b!tich because they are so upside down in the loan and the car is totalled for less that what they want.

 

[KK]

Originally posted by: FrankyJunior
Get an estimate on having it fixed. Since the other peron's insruance is paying for it, don't let them push you around. Talk to you own insurance people too (since it's not her fault) and see what they recommend.

The estimates we have gotten pushed the 4000 mark. I was expecting them to want to total vehicle, but can't see totaling a perfectly fine operable car. Nothing on the car was damaged that would prevent the car from functioning. By looking at it, all you can tell is the the front end is marked up a bit, the truck had a hitch on it, so there is a ball punch out in the middle. On the back, the trunk is alittle harder to close but not smashed up. You can tell that when the person smashed her from behind it kinda distorted things. But just looking at it, you wouldn't be able to tell that it was in an accident unless you looked closely.

Edit: Car has no loan against it.

 

[Kelemvor]

If they agree to "total" it and give you a check, can you just have the car repaired anyway or do you actually have to hand it over to them? Unless you can get a comparable car for what they offer you, you shoudln't be forced to total it if you can get it repaired for the same amount.

 

[Metron]

Originally posted by: LolaWiz

Originally posted by: acemcmac

Originally posted by: LolaWiz
what i tell my customers to do is look at for sale ads in the area for similar cars and take those to your claims adjuster.

unfortunatly, cars depreciate so you just have to accept that, but a lot of times, they will take into consideration what other similar cars are selling for too.

good luck.

didn't realize that would work.

I've always thought that if I totalled my mustang, I'd be unable to afford the same car from the same model year and of the same milage with the insurance payout because of the bluebook-retail used car price discrepancy

sometimes it does. sometimes it doesnt.
I have seen it both ways.

I just think this helps to get "more" at a fair amount. It also depends on how much of a loan (if any) there is on the car as well.
It is not nice hearing someone b!tich because they are so upside down in the loan and the car is totalled for less that what they want.

Don't some states like Florida and California require "gap" insurance" to prevent that scenario? Essentially you pay a premium for replacement value of the vehicle, from what I understand (I'm in Texas).

 

[KK]

Originally posted by: FrankyJunior
If they agree to "total" it and give you a check, can you just have the car repaired anyway or do you actually have to hand it over to them? Unless you can get a comparable car for what they offer you, you shoudln't be forced to total it if you can get it repaired for the same amount.

That would be great if they did that, but I think they want the car if they total it.

 

[JDMnAR1]

Originally posted by: FrankyJunior
If they agree to "total" it and give you a check, can you just have the car repaired anyway or do you actually have to hand it over to them? Unless you can get a comparable car for what they offer you, you shoudln't be forced to total it if you can get it repaired for the same amount.

If they total it and you accept their settlement, they own it. If you do want to keep the vehicle, you can ask what they show as salvage value on it. Typically the way that works is they will take their original total offer and deduct the salvage value and cut you a check for the difference, and you keep the vehicle. Of course, if all of the paperwork is handled correctly, you now own a vehicle with a salvage title, which kills your resale if that is a concern.

 

[Lola]

Originally posted by: Metron

Originally posted by: LolaWiz

Originally posted by: acemcmac

Originally posted by: LolaWiz
what i tell my customers to do is look at for sale ads in the area for similar cars and take those to your claims adjuster.

unfortunatly, cars depreciate so you just have to accept that, but a lot of times, they will take into consideration what other similar cars are selling for too.

good luck.

didn't realize that would work.

I've always thought that if I totalled my mustang, I'd be unable to afford the same car from the same model year and of the same milage with the insurance payout because of the bluebook-retail used car price discrepancy

sometimes it does. sometimes it doesnt.
I have seen it both ways.

I just think this helps to get "more" at a fair amount. It also depends on how much of a loan (if any) there is on the car as well.
It is not nice hearing someone b!tich because they are so upside down in the loan and the car is totalled for less that what they want.

Don't some states like Florida and California require "gap" insurance" to prevent that scenario? Essentially you pay a premium for replacement value of the vehicle, from what I understand (I'm in Texas).

i am not sure if they require it, but i know that many auto dealerships offer it just for cases like this.
well, now that i think about it, i think many (if not all) leases require it

 

[Perknose]

Originally posted by: KK

Originally posted by: FrankyJunior
If they agree to "total" it and give you a check, can you just have the car repaired anyway or do you actually have to hand it over to them? Unless you can get a comparable car for what they offer you, you shoudln't be forced to total it if you can get it repaired for the same amount.

That would be great if they did that, but I think they want the car if they total it.

They just sell it to a salvage guy for cheap, cheap, cheap. If you smooze your insurance guys, you can get them to let you match what they'd get and so buy it, but, DON'!

First, those Taur(i) have a disconcertingly high incidence of crapping out their transaxles starting around 70,000 mi. Second, unit construction cars (no full frame) which have been in bad accidents are never really the same, even after having been expensively "straightened" in bespoke jigs.

Take the money and run, KK.

 

[thedarkwolf]

They usually give you the option of buying it back real cheap if they totall it. Then get a big hammer and beat the dents out good enough to drive it around and profit.

 

[habib89]

i dont' think you'd be able to sell it pre-crash for that much money.. they're giving you kbb value which is more than you would have got out of it elsewhere

 

[kermalou]

if the insurance company wants to total it, there must be something wrong.

 

[KK]

yeah, looking at autotrader, private sellers 4100 would probably be in line, then you have the dealerships wanting anything from 4 - 6 thousand. I guess I'll be getting a new truck sometime soon. What do you recommend ford crew cab or toyota tundra crew? How bout those dodge mega cabs? I want something that'll retain value better than that taurus.

 

[nakedfrog]

Originally posted by: acemcmac

Originally posted by: LolaWiz
what i tell my customers to do is look at for sale ads in the area for similar cars and take those to your claims adjuster.

unfortunatly, cars depreciate so you just have to accept that, but a lot of times, they will take into consideration what other similar cars are selling for too.

good luck.

didn't realize that would work.

I've always thought that if I totalled my mustang, I'd be unable to afford the same car from the same model year and of the same milage with the insurance payout because of the bluebook-retail used car price discrepancy

If it's a classic model, you can get special insurance that will actually cover the replacement cost.

 

[DrPizza]

Originally posted by: JDMnAR1

Originally posted by: FrankyJunior
If they agree to "total" it and give you a check, can you just have the car repaired anyway or do you actually have to hand it over to them? Unless you can get a comparable car for what they offer you, you shoudln't be forced to total it if you can get it repaired for the same amount.

If they total it and you accept their settlement, they own it. If you do want to keep the vehicle, you can ask what they show as salvage value on it. Typically the way that works is they will take their original total offer and deduct the salvage value and cut you a check for the difference, and you keep the vehicle. Of course, if all of the paperwork is handled correctly, you now own a vehicle with a salvage title, which kills your resale if that is a concern.

For me, it would depend on what the salvage value was... it it was worth $500, take the 3600 and the car. (if it's as good as you say) As long as you don't mind driving around something that looks like a beater car, you're all set. And, who cares about the resale value - you already got (well, in this example) 3600 for the car. Heck, you might even be able to get the 4100, minus the salvage value, then turn around and sell the car to some college student for more than the salvage value.

 

[Muadib]

Originally posted by: Gibson486
ummm...if the value is 4100 and they offered you 4100, what is the problem?

 

[KK]

Originally posted by: DrPizza

Originally posted by: JDMnAR1

Originally posted by: FrankyJunior
If they agree to "total" it and give you a check, can you just have the car repaired anyway or do you actually have to hand it over to them? Unless you can get a comparable car for what they offer you, you shoudln't be forced to total it if you can get it repaired for the same amount.

If they total it and you accept their settlement, they own it. If you do want to keep the vehicle, you can ask what they show as salvage value on it. Typically the way that works is they will take their original total offer and deduct the salvage value and cut you a check for the difference, and you keep the vehicle. Of course, if all of the paperwork is handled correctly, you now own a vehicle with a salvage title, which kills your resale if that is a concern.

For me, it would depend on what the salvage value was... it it was worth $500, take the 3600 and the car. (if it's as good as you say) As long as you don't mind driving around something that looks like a beater car, you're all set. And, who cares about the resale value - you already got (well, in this example) 3600 for the car. Heck, you might even be able to get the 4100, minus the salvage value, then turn around and sell the car to some college student for more than the salvage value.

How would one find out the salvage value. Would the insurance guy know this?