by TeNFooT » Thu Mar 19, 2015 07:23 am
my car was deemed totaled by my insurance and I haven't yet started the negotiations. I plan on keeping my car and having it fixed since the damage was all cosmetic and I recently put a lot of work into it. I replace the original engine which had 270,000 miles with a Japanese motor that has only 40-60,000 miles, and also many more repairs that totaled to around $3800.
My question is, how much can I expect my insurance company to pay me for my car? and how much will they charge me to buy it back( keep it)? how do I negotiat the best price? Will a higher payout result to a higher buy back amount?
My car is a 2003 Honda accord ex. 300,000 miles on the odometer but only about 50,000 miles on the engine.
Thanks.
My question is, how much can I expect my insurance company to pay me for my car? and how much will they charge me to buy it back( keep it)? how do I negotiat the best price? Will a higher payout result to a higher buy back amount?
My car is a 2003 Honda accord ex. 300,000 miles on the odometer but only about 50,000 miles on the engine.
Thanks.
Posted: Wed Mar 25, 2015 03:10 pm Post Subject:
only about 50,000 miles on the engine.
This statement, even if true, is meaningless. Your vehicle's value is based on the fact that it is 12 model years old and has 300,000 odometer miles. You will be paid the difference between the salvage value and the replacement cost, which is likely to be a few hundred dollars. Your vehicle will need to be reregistered as a "salvage" auto, and will have to pass a vehicle safety inspection before such registration will be issued. No pass, no registration.Add your comment