by Tran » Mon Aug 04, 2008 05:23 am
Hey every body, I am new to this forum so I'm not sure where to post this. I had just gotten into a wreck last month on July - 7 - 2008 (not my fault). My 08 SR5 Db Cab Tundra is now totaled. My insurance (State Farm) wants to give me $23,550 for it which I think is a little low (I‘m going through them because I‘m still fighting this at-fault issue). I financed my truck through Toyota Finance for $29,000 but I'm not up side down on this because I only owe $19,000 something on it left. OK I might be but I understand that I'm not gonna get the retail value of it only the actual cash value. I was stupid to have canceled my GAP and right before all this happened too!
With all that said I was hoping and would really appreciate it if someone can help me find out the ACV on my truck. I did do some researching with auto trade, Kelley, Edmunds, bb and some other sites. MSRP was supposed to be around $28,000 to $23,000? (kinda confuse me there) and I understand that, that doesn't prove anything to my insurance because that's the ‘asking price' that could be negotiable. Like vehicle with even more mileage than mine still go for around $26-$27,000 and up. And that's the same price that a guy at Toyota gave me. I asked him to give me a ruff estimate (since he was not able to see the vehicle) of how much my 08 Tundra would be worth with a lil over 8,000 miles and in mint condition (I wash and clean it every weekend).
I'm not even sure of all the options that I have and what's all available for the 07-08 Tundra but I'll try… It's a SR5 (you should know that lol) no Navigation just the regular 6 CD changer, I do have running step board, Toyota bed liner, Factory mud flaps (guard), factory fog lights, towing mirror (so I suppose towing package too?) cloth seat, AUX plug in but I think that's standard, DRL Daytime running lamp (if it matters), 2 wheel drive, regular 18 inch alloy wheel w/ tire sensor, Rear Sliding Window factory tinted, no home link auto dim rearview mirror, no back up camera or sensor.
ANY advice would be greatly appreciated! Thanks
With all that said I was hoping and would really appreciate it if someone can help me find out the ACV on my truck. I did do some researching with auto trade, Kelley, Edmunds, bb and some other sites. MSRP was supposed to be around $28,000 to $23,000? (kinda confuse me there) and I understand that, that doesn't prove anything to my insurance because that's the ‘asking price' that could be negotiable. Like vehicle with even more mileage than mine still go for around $26-$27,000 and up. And that's the same price that a guy at Toyota gave me. I asked him to give me a ruff estimate (since he was not able to see the vehicle) of how much my 08 Tundra would be worth with a lil over 8,000 miles and in mint condition (I wash and clean it every weekend).
I'm not even sure of all the options that I have and what's all available for the 07-08 Tundra but I'll try… It's a SR5 (you should know that lol) no Navigation just the regular 6 CD changer, I do have running step board, Toyota bed liner, Factory mud flaps (guard), factory fog lights, towing mirror (so I suppose towing package too?) cloth seat, AUX plug in but I think that's standard, DRL Daytime running lamp (if it matters), 2 wheel drive, regular 18 inch alloy wheel w/ tire sensor, Rear Sliding Window factory tinted, no home link auto dim rearview mirror, no back up camera or sensor.
ANY advice would be greatly appreciated! Thanks
Posted: Mon Aug 04, 2008 06:02 am Post Subject: Follow up....
I have searched and searched but I was never really able to grasp the technique for a sure way in proving a different ACV other than hiring my own appraiser and invoking “Appraisal Clause” which Lori had mentioned in another thread on this site. I don't know how much an appraiser would cost and if it's even worth the extra time and money if it'll just end up with about the same ACV or a couple hundred dollars difference. And with the “Appraisal Clause” like Lori said would usually leave people with a less than happy outcome.
I'm not trying to ‘milk' the insurance in any way. I've even told her (my insurance rep) myself that I am not at all trying to get a whole lot OR more than what I deserve. But don't you all think that $23,550 (plus sales tax which would bring it to around $24,000) is a little too low of an ACV for a 08 truck with 8,192 miles on it (I believe) that hasn't even been owned for a full 6 month?
I've read a couple of post reply by some really knowledgeable people, namely ‘Lori', 'nique1221', 'Mike of Ozarks' and I think ‘tscope'? (sorry if I excluded any body else) any input from yall would be deeply appreciated. Please, I mean no offense to anyone or am I discrediting anybody elses input! Any and all help/advice is welcome. I am just simply hoping to enlist these people help. I would PM yall but I do not want to bother anyone and it seems as though most of you have your hands full helping others. But please if you read this, please help me.
Posted: Mon Aug 04, 2008 09:23 am Post Subject:
Tran, just hang tight, you soon will hear from the experienced adjusters of this board. And I'm sure that they will be able to help you to a great degree.
Meanwhile, i can only say that the insurance companies apply their own policies in determining the prices of the totaled vehicles. Hence, the estimate that you have got on the different sites may differ from the valuation done by the company adjuster.
Posted: Mon Aug 04, 2008 11:16 am Post Subject:
I was stupid to have canceled my GAP and right before all this happened too
No you weren't if you're not upside down your GAP wouldn't have paid anything....MSRP was supposed to be around $28,000 to $23,000? (kinda confuse me there
MSRP is the orginal Manufactors Suggested Retail Price.....and you're right it has zero to do with the ACV. No carrier I'm aware of uses Kelley, Edmunds is a good source but most use NADA or a program like CCC that you cannot get access to...My lap top is down right now, but I'll have it back and run a value for you but I need ALL options, mileage etc...as well as if there was ANY unrepaired prior damage, (like hail, cig burns etc.)...I'll check (because I can't remember for sure)...when I have a total that is new we take the selling price from the dealership, (what I could walk in and buy it for today), the subtract an amount for every mile, (like .20 per mile), that is the ACV...as I said I can't remember the price, I'll check on that today...and let you know either tonight or tomorrow am...post the exact miles, and try to remember all the options....I'll be back tonight or in the morning with my lap top and can run a value for you...In the meanwhile, you need to ask your rep, how the value was determined, what system did they use, and have her get a copy of it to you fast...so that you can go over it and see if anything was missed or that all the information was correct....we all make mistakes, and it's not unheard of that an option is left off etc...so you need your eyes on that paper...ok? alright, post any additional information, automatic or manual tranny? cruise? tilt? trd package? post all info...and I'll get back to you by tomorrow am ok?Posted: Mon Aug 04, 2008 04:00 pm Post Subject:
I'd ask your carrier what system they use to determine the value of the vehicle (NADA, CCC, AutoSource, etc) and obtain a copy of their valuation sheet. This lists all the options and details on the vehicle that they considered. You want to make sure that they included everything. Tran, I can't count the number of times I've seen many things not be considered (sun roofs, navigation systems, etc). Check everything, even the mileage they used (many times they can't read the odometer and just guess).
Unfortunately I think you are going to take a big hit... due to no fault of your own. New vehicles depreciate a _lot_ when they simply roll off the lot with a new owner. That is right where you are at now.
Posted: Wed Aug 06, 2008 09:07 pm Post Subject:
Insurance companies sometimes search in local car magazines or online websites to get appraisels. Do some research and come up with an average of this, plus what you have already found. This would give you a more accurate ballpark of what your car is worth.
system edited-link removed
Posted: Thu Aug 07, 2008 08:14 am Post Subject: Thank you
Thank you everyone for your input. I'm sorry I haven't been able to get to a computer in the past few days. I stay in New Orleans LA where my job is. Now I'm back in Texas to try to meet with the adj face to face. My rental was up a few days ago and since I haven't settled with my insurance yet, I have no ride, so I took a leave from work to come back to Texas where I can better deal with things and taking this chance to spend time with my family here.
I'm sorry Lori, for not being able to get those information and meeting with you at the appointed time. Eveything has been pretty stressful and very hectic. I'm the type of person who likes to keep a strict and tight schedule but ever since all this started every thing has been so disorganize and out of place in my life. It's 2:56a.m. right now as I type this. I'm currently at one of my relative house and was laying there thinking when I suddenly remember about my post here. Sorry...
OK about the mileage...I think it was 8,192 miles. Sorry, I forgot some paper work back in LA but I will call and ask to make sure. My truck has diffinetly never been in any accident or has sustained any prior damages at all. I drove it brand new off the lot with 5 miles on it after I test drove it. I think all 07 Tundra and up has tilt? It does have cruise control and it's a 5.7 liter automatic 6 speed with the sport shift. I'll try to find out everything ASAP but it might take me some time to get back with you bc of all these things that is going on at once over here. Do you think that I should get a copy of their evaluation? How long do I have before I have to settle? Thanks in advance!!!
And thanks, Mike of Ozarks for your e-mail
Posted: Thu Aug 07, 2008 08:19 am Post Subject: thanks tscope
OK I see that I should get a copy of the evaluation. Sry, I'm really beat right now but yeah thanks!
Posted: Thu Aug 07, 2008 10:03 am Post Subject:
How long do I have before I have to settle?
You can wait as along as you want....be sure if you want me to run your value you that you let me know (in addition to other options) is it a 'crewmax', or double cab, also 2 or 4 wheel drive.Posted: Thu Aug 14, 2008 07:00 pm Post Subject: 08 Tundra
ok I am back in New Orleans now. I found my sticker price and specs on my truck.
2008
Tundra 4x2 Double Cab 5.7 V8 SR5
8,159 miles
Mechanical and Performance
6-Spd Auto w/Seq Shift and Tow mode
Engine Immoboilizer, Cruise Control
Tow Equip
Auto LSD
Coil Over Shock Double A-Arm front Suspension
Multi-Leaf Trapezoidal Rear Suspension w/
Staggered Outboard Mounted Shocks
Pwr 4 wheel disc brakes
Exterior
6.4 Double walled bed w/tailgate assist
Chrome Grille Surround Fr & Rr bumpers
Pwr Htd outside Mirrors
Sliding Rear Window w/privacy glass
Tow mirror: Power adjustable, manually extendable, heated with turn signal
Daytime running lights
fog lamps
Interior
Cloth Bucket seat w/ 8 way pwr adj driver side
tilt/ telescoping steering wheel
dual zone climate control w/ sync mode
6 cd/mps w/ 6 speaker & aux audio jack
something about laptop & file storage
power door.lock.mirrors
remote keyless entry system
Safety
STAR safety: pwr assist 4 wheel disc ABS
w. Electronic Brakeforce Distrib (EBO)
Brake Assist, Vehicle Stability Control
with Traction Control (VSC + TRAC)
And all kind of airbags with Tire Pressure Monitoring System
Posted: Thu Aug 14, 2008 07:02 pm Post Subject:
I haven't gotten a copy of the evaluation yet
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