by Guest » Thu Dec 27, 2007 09:17 pm
Good Afternoon
I have/had a 1999 Ford Ranger XLT, with an off road package. It has about 140k miles on it. The other night my mother rolled it over. I have been informed by my insurance company that it it a total loss. I am going to be contacted within the next day to discuss the value. This truck was in great condition, no damage and mechanically perfect. I want to be prepared for the call and I have looked on KBB but I have heard that KBB is not how value will be determined, any advice?
I have/had a 1999 Ford Ranger XLT, with an off road package. It has about 140k miles on it. The other night my mother rolled it over. I have been informed by my insurance company that it it a total loss. I am going to be contacted within the next day to discuss the value. This truck was in great condition, no damage and mechanically perfect. I want to be prepared for the call and I have looked on KBB but I have heard that KBB is not how value will be determined, any advice?
Posted: Thu Dec 27, 2007 09:41 pm Post Subject: Truck
Not sure if this is relevant or not, but I live in Pennsylvania.
Posted: Fri Dec 28, 2007 06:53 am Post Subject:
I have heard that KBB is not how value will be determined, any advice?
You have heard right (I know I'll get Lori's support at least). Most of the insurers are using third party software to ascertain the value of the totaled vehicle. You can run your vehicle in the following sites to gain a fair idea about the value of the truck.
edmunds.com
nadaguides.com
Posted: Fri Dec 28, 2007 07:34 am Post Subject:
Gangorn why don't you try to obtain some quotes on your car form the used car dealers in the locality? The same process the insurer may follow to determine the value of the truck. They can either do the job themselves or may hire the professional service of the CCC to do the survey work for them. Also maintain a document if you have done any value addition on the MV. This will help you in negotiating the value of it, if required.
Thanks,
Jeremy
Posted: Fri Dec 28, 2007 11:40 am Post Subject:
Good morning Gangorn, and welcome...I'm glad mom is ok! Did she hit some ice or something?
You are correct!!!
I have looked on KBB but I have heard that KBB is not how value will be determined
and I'm thrilled to not have to explain that again! :roll:Good information from Rupert and Jeremy Holter, some companies will require a 'market survey' which is what Jeremy is suggesting, I personally only do that with odd ball vehicles or if there is a disputed value, but that is exactly what CCC does, (I won't get into what I think of their evaluations though! :roll: )...It certainly won't hurt you to call a few used car dealers...
Most companies either have a computer program they use (ie valuemate, CCC), or use NADA or Edmunds (most I think use NADA)...
I attempted to run your truck (utlizing the system the company I work for uses, NADA) with the information you have provided but I can't get you a value without more information, I need to know....flareside, styleside, 2 door, four door, supercab, standard cab, 4 or 6 cyl, 4x4, alum, wheels, cruise control, power locks/windows, a.c., automatic or manual tranny? I can tell you that the mileage deducts $1125.00 immediately from the value though...If you would like to provide this information I will be happy to run it for you (as an adjuster would most likely..."since i is one!" :roll: :wink: )
Let us know!
Posted: Fri Dec 28, 2007 03:06 pm Post Subject: Thanks Everyone for all the help.
Lori
Thanks for your help, I will try and answer all your questions.
It's 2 door, standard cab, 6 cyclinder, 4X4, Alum Wheels, automatic transmission. It is an XLT with long bed. Off Road Package as well.
I am not familiar with flareside or styleside so I cannot answer that question, but if i haven't heard of it I doubt the truck has it.
I have also located a few trucks from the same year and similar miles for sale in my area, will that be relevant or not?
Posted: Fri Dec 28, 2007 07:57 pm Post Subject:
gangorn,
The price of the similar trucks will probably be realavant if they try to pay you less than what your truck is worth, so you will want to keep those quotes on hand.
Posted: Sat Dec 29, 2007 01:49 pm Post Subject:
gangorn good morning this is what i have:
$5850.00 This is for a ''styleside" a ''flareside'' is $5975 (before next few additions if applicable) I've included all the options that I had information about but you will need to add or subtract from the few things left that I didn't know...(btw no addition on this model for you 'off road' package-xlt yes, off road no)...
ADD:
75.00 for cruise control, 75.00 power windows, 75.00 power locks,
subtract 300.00 if no air...(which would be really rare!)
I am not familiar with flareside or styleside so I cannot answer that question, but if i haven't heard of it I doubt the truck has it.
It's one or the other, a styleside is 'flat' on the bedsides, a flare side would have actual fenders, or like a big dually would have or in the newer rangers the 'splash' model is a flare side, generally there are little steps on one side or the other of the flare, on each bedside...I have also located a few trucks from the same year and similar miles for sale in my area, will that be relevant or not?
Yes it makes a difference is there is a dispute re: value.The problem (unfortunately) with your truck is that 140k in mileage it is a $1125.00 deduction from the value... :cry:
let us know how it turns out please or if we can be of any further assitance to you...
Posted: Sat Dec 29, 2007 08:30 pm Post Subject:
Nice job Lori. As you know, adjusters in the field use NADA and total loss claim reps use CCC or Audatex when running samples of vehicle retail prices in the owner's zip code. The owner can do the same thing by calling dealers and private owners' ads in the classifieds and average 10-15 vehicles. The owner should come close to what the insurance company will offer them. If the insurance company does try to low ball the owner, the owner will also have all the information in front of them and be able to negotiate a good settlement.
Posted: Sat Dec 29, 2007 11:25 pm Post Subject:
Thanks Jake (my son's name btw)....it always pays to be well informed and do your homework when faced with vehicle evaluations unfortunately there are some lazy adjusters...so the owners should always double check values in my opinion.
Posted: Sun Dec 30, 2007 01:48 pm Post Subject:
That is great advice Jake, especially since the owner will be the one doing the shopping for the new vehicle anyway, then he would have a general idea of what is out there if the insurance company does total the vehicle. It is hard to go by sales adds also, you go in and often times those adds are printed to get you in the door and then once you are there they can play with the price a little bit.
Add your comment