by rrm32 » Fri Mar 27, 2009 03:43 pm
On Sunday, my husband was in a car accident that was not his fault. An appraiser came two days later and declared that our car was a total loss. Most of the damage was minor, and I believe that I can get it fixed for a reasonable amount of money. They are offering me, total (including taxes and extra fees for a new car) $6,000, and about $5,000 if I want to keep it. I live in Dallas, Texas, and my car is a 2004 Ford Focus ZX3 with about 75,000 miles. I love my car, and I don't want be left in debt with an older model. This accident wasn't my fault, but I feel like I'm getting the short end of the stick. We will be in a worse situation after this accident, that wasn't our fault, than we were in before. Is it reasonable to ask for $7,000 plus my car? I have talked to two people and sent a fax with examples of the same car for 10 and 11 thousand. They haven't budged. What should I do?
Posted: Fri Mar 27, 2009 04:08 pm Post Subject:
rrm32, some who post on this site have software to help you determine market value for your car. Try to give them as much info as possible, your state, vehicle condition and options.
I know a lot of folks get attached to their cars, but I usually advise them not to retain the totaled car. You could easily put all of the insurance money and then some repairing the car. If you were involved in another accident the repaired total is now worth less (some say 25% less) so you would be going backwards. I would pick up an auto trader magazine and find out what those cars are selling for in your area. You should be getting enough to buy another one that hasn't been wrecked in theory.
Posted: Fri Mar 27, 2009 11:50 pm Post Subject:
Those 11 and 12 amounts... where they asking prices or selling prices? There is a difference. No one expects to pay what someone is "asking" for a vehicle. They always take less.
You need to obtain the insurance companies evaluation of your vehicle and review it to make sure everything is correct. Check the options and check the mileage they used. Appraisers who inspect vehicles like it when the vehicle is a total loss as they don't have to do as much work. Also, the paperwork they usually fill out may not address all the options on the vehicle or it's probable that the appraiser won't know what options are on it.
Have you checked NADA to see what it states your car is worth?
Posted: Sat Mar 28, 2009 05:14 am Post Subject:
yes. indeed, no one will pay what someone else is willing to pay for the vehicle. they always take less. first, check the current value of your car, and get the insurance company to re-evaluate your car. however, i doubt the amount offered to your will change.
i don't suggest that you keep a totaled car. getting it repaired may cost you a bomb, and you could end up suffering a loss. i know many people get attached to their vehicles, but perhaps it is time to look into a new one. pick up some classifieds ads and check your area for cheaper deals. i think that may turn out to be more worthwhile.
Posted: Sat Mar 28, 2009 05:44 am Post Subject:
In my opinion the amount is not sufficient and you shouldn't just be satisfied with that amount.
one more thing that you should give another thought for keeping the damaged car.As it becomes your's liability not asset.
so one should try to think about increasing the assets not liabilities
Posted: Sat Mar 28, 2009 08:44 am Post Subject:
In my opinion the amount is not sufficient and you shouldn't just be satisfied with that amount.
Hope you have run the vehicle's value before stating that its not sufficient? If you feel that the value isn't sufficient then what according to you is the right price of the car? I don't think that the OP has given us enough information to determine the actual worth of the car. Hope the adjusters of this community would come forth in OP's rescue.
Thanks,
Rupert
Posted: Sat Mar 28, 2009 08:53 am Post Subject:
Is it reasonable to ask for $7,000 plus my car?
Well, you may ask whatever amount you feel is right to compensate for your loss but that won't necessarily ensure that you would get the amount. The insurance company would make you whole based on the actual cash value of the car. Tcope has suggested you the right option, run the car's value on the NADA. It'd give you the idea of its value.
Posted: Sat Mar 28, 2009 01:41 pm Post Subject:
Buck, I'm with Rupert, what are you basing your opinion on?
In my opinion the amount is not sufficient and you shouldn't just be satisfied with that amount.
OP, I'll be happy to run a value for you, but I need to know about the following options (if you have them or don't)..alumn/alloy wheels, Audiophile stereo system, cruise, leather seats, power, locks, windows, sunroof, air conditioning, auto or manual tranny..
Also is there ANY unrepaired prior damage? If so what is it and the extent...this could be hail, ripped, or burned marks on seats, or any of the interior...dents in any panel, large scratches etc...also what state are you in?
A 2004 for 10-11k come on! :shock: this car barely cost that brand new with all options the MSRP was only 12,725! and that's with every option..and NO BODY pays the MSRP...so 10-11k totally unreasonable...I'll be honest with you when someone gives me extreme examples like this that are totally unreasonable to even discuss they lose a little credibility with me as the adjuster handling their claim. I could (as could your adjuster) just as easily find examples where there are some for sale for 2 and 3k is that going to make any difference to you? Course not...so see it's just silly to do that...(IMO)
Without adding or subtracting any options just using your mileage (no add or minus there either) I'm getting 6k for clean retail...but you say that offer included taxes etc...from what you have posted (unless you provide the info i requested so i can more accruately check)...I'd ask them for 6k PLUS all the sales tax, transfer fee, and whatever else your state requires...and them take the car...if you want to keep the car then the salvage value (apparently 1k) has to be deducted you are in effect buying it back..
Do you owe money on this vehicle? If so what is the payoff? Do you have GAP insurance on the vehicle/note? Exactly what parts are damaged? Is it driveable? If so you might want to run it over to your shop and ask them what it would cost for them to make it legal and safe...that will give you the information you need before you make a decision about keeping it or not..
Tcope has given you good advise, you need to look at the evaluation closely to make sure all information is the same as your car...
Let us know and we'll do our best to help you thru this...
Posted: Tue Aug 23, 2011 03:53 am Post Subject: NMPKoUjEotvuAM
If my problem was a Death Star, this article is a ptoohn torpedo.
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