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How much to sell totaled salvage 2001 Impreza Outback Sport for?

2001 Impreza Outback Sport Totaled Salvage Title

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6 replies to this topic

#1 kyleinpdx

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Posted 17 January 2014 - 10:14 PM

Hi,

I recently totaled my 2001 Impreza Outback Sport.  Before accident it would have been "Very Good" by KBB description.  Both interior and exterior had only minor wear that could only be seen up close.  Never had any major mechanical issues, tires were new about 14,000 miles ago.  I took it in for regular maintenance every 3000.  Brakes were still at 60-70%.  It was all stock, no additions, nothing missing, orig cassette deck/radio, orig mats, cargo cover and liner, spare tire, jack, etc.  It has 142,000 miles on it now.  The accident: spun out on some ice and front of car hit cement barrier.  Front bumper, one headlight, and passenger fender are the only visual things that got hit, but there is probably interior damage.  Insurance declares it a total loss.  Auto shop estimate to fix was $2400.  Insurance repair estimate was $3600, they valued the car at $4500.  Car starts and runs like nothing happened, but the front tires are rubbing against something when you turn the wheel.  I don't want to drive an uninsured salvage or rebuilt title car, so I'm going to take the partial payment from insurance and sell the totaled (unrepaired) car to a private party or mechanic, etc.  Any ideas on how much I should expect or try to get for this?  Any suggestions would be greatly appreciated!! Thanks for reading!!

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Edited by kyleinpdx, 18 January 2014 - 01:04 AM.


#2 ivans imports

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Posted 17 January 2014 - 10:19 PM

wow that's nothing for damage wrote off ? I have a good front bumper skin what a shame nice car



#3 lmdew

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Posted 18 January 2014 - 09:40 AM

That's all the damage?

I'll give you a $1000 for it and drive it back to CO.

 

Call a couple of yards and see what they will give you for the car.  Add a couple of hundred to that price and that's what you should be able to get from a individual.  

 

Totally depends on the person's need for parts. 

 

Shame not to keep it on the road with the limited damage.

 

Larry



#4 Rooster2

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Posted 18 January 2014 - 11:34 AM

I recently had the same situation, when my daughter wrecked her car. Probably the best advise, I got on a price to sell "as is," is to figure the amount the insurance company will pay you as a totaled vehicle, add your accident insurance deductible amount, then deduct the estimated repair cost. The final number is prolly a reasonable retail figure to sell the car unrepaired "as is." Suggest selling on Craig's list, or in the for sale section of the USMB forum. I wouldn't try selling to a wrecking yard, as they will pay you very little.

 

Another approach, the insurance company will offer you $4,500 as a settlement for a "totaled" car, but will also let you "buy back" the car, so you keep the car, and they pay you something like $2,500 as a buy back. So then you have the car and the money. With the money, you can repair the car however you want to. The car will be re-titled by your insurance company as "salvage" or "rebuilt." This is what my daughter did with her car, as structurally the car is fine and safe. She had the body, and unibody frame straightening repair work done at a family owned collision repair shop at a lower price. They did quality work. Car looks, and drives like new. Retail price on the car is now based on amount  the insurance paid out on the buy back, plus insurance deductible, plus amount paid to the collision shop.

 

Hope this advise helps.............Rooster2



#5 coclimber

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Posted 18 January 2014 - 12:23 PM

I agree with Larry, $1000 is probably reasonable from an individual.  The 2001 wreck I bought in Sept. was $1000 too.  Had 161K miles on it, so close to yours.

 

I'm unclear about how much you are getting from the insurance company if they "total" it?  If they 'total' your car and pay you a check, they will take the car, correct?  So, you might just take the highest of either the insurance check or ~$1000... 



#6 86BRATMAN

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Posted 18 January 2014 - 12:36 PM

The insurance check will be the higher amount, went through this most recently about a year ago when someone totalled an xterra of mine he was borrowing. Depending on how your company works, some have different practices, you will either get a check for the value of the vehicle before the accident which would be the $4500 or an average of what that car is sold for at retail in your area. My company did the later which worked out better on my part. You will also have the option to buy the car back, generally for 10% of what they valued it at. If you buy it back you'll get a check for the difference and keep the car.

#7 kyleinpdx

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Posted 18 January 2014 - 01:05 PM

Thanks for the tips everyone!  Just to confirm - Yes, I will get $4500 from insurance if THEY take the car.  But I can buy the car back from them for about $600.  So, I still get $3900 AND I get to keep the car.  I've gotten two quotes from wrecking yards.  One offered $500, and one offered $1000.  I put the car on Craigslist for $1800 and have been getting some bites.  Also, I realize I could probably get the car fixed for under $3900, but I bought the car less than 2 years ago and paid about $7000.  If I fix the car it will have a rebuilt title and it won't be worth anything.  I wouldn't care that much if I had had the car for 10 years, but I feel like I need to recoup on this as much as possible since I bought it so recently.  I just feel better about moving on and getting another clean title car.  


Edited by kyleinpdx, 18 January 2014 - 02:04 PM.






Also tagged with one or more of these keywords: 2001, Impreza, Outback, Sport, Totaled, Salvage, Title

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