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Value ? - 1999 Legacy Sedan Rear End Damage
Posted 12 July 2005 - 07:30 PM
Last week some idiot in a pickup rear-ended me. The trunk is pretty torn up (he almost totally missed the bumper) but the car is 100% driveable.
Insurnace says it's totaled - the math may work out that way, but everything is still functional (engine, tranny, wheels, glass, etc...) except the trunk.
I am planning to get an estimate from the body shop tomorrow. Is there much of a market for this car to be parted or sold in one shot? I don't think I can replace what I have for what they are offering - but maybe I am just too attached to it!
You can see pictures of it here:
Posted 12 July 2005 - 07:52 PM
Posted 12 July 2005 - 08:03 PM
i can tell you for sure that if it is totalled the insurance company will take it, sell it and someone will fix it and sell it as a salvaged title vehicle. so either way it will end up on the road again, it definitely won't be parted out, it's too nice and someone will make $ fixing it and reselling.
Posted 12 July 2005 - 08:12 PM
Posted 12 July 2005 - 08:31 PM
Posted 12 July 2005 - 08:39 PM
Posted 12 July 2005 - 09:04 PM
Posted 12 July 2005 - 11:28 PM
if your car was silver, it could be my car. I am going theu the exact same fight with my 98 leagacy. I was sitting at a red light, and the kid coming up behind me didnt see me nor the red light. I got slammed at 50mph. I will say its a tough little car.
Right now I am fighting my insurance company, the other insurance company, I decided to call in the lawyers. I am as battered as the car is.
I hope you are ok, but i got a guesstimate of about 4600 and a car values of 3125 (car has 180 K miles on it and in exclenet condition) from the insurance company.
Good Luck, and stick t your guns about replacement value to the other insUrance company. It may give you enough to fix the car.
You can figure out the net worth of the car by looking on line as there are a few places to find it.
Posted 13 July 2005 - 12:05 AM
The market value for the car is listed as follows:
KBB Private Party - $7675 (Excellent condition)
KBB Retail - $9970
I guess the issue is that to get a car of the quality I currently HAD it would cost me $9970 + tax + License. Does it make sense to call the guys insurnace and tell them that? Does anyone have experience actually winning that battle or am I just spnning my wheels and wasting both of our time?
Posted 13 July 2005 - 02:52 AM
they will pay you AS LITTLE AS POSSIBLE. the CEO is not making 3 million a year because he's willing to pay out as much as possible to claims. time to start thinking business and realize the insurance company is trying to take advantage of you...and YOUR the one that got hit! you didn't ask for a truck up your a$$!!!! but - even if you don't have a lawyer you can still accomplish this....i don't lie but know people who will claim to have a lawyer when they really don't so the insurance company cooperates. if they feel you're a push over and won't persue anything (which many americans are)...take this for instance...how many people actually debate the *value* insurance companies pay for totalled vehicles??? VERY few, so they don't expect you to either. but they want an at fault accident settled and over with.
i'd start by talking to a lawyer, most will offer free consultations for a few minutes. they might even tell you that it's not worth your time to get a lawyer....but you don't tell the insurance company that. you tell them you met with a lawyer and are ready to take further action if they don't cooperate quickly.
here's is the steps i would take:
i'd get a free consultation with a lawyer (some will even do it over the phone). then find out how much to fix and add some to it, it's easy for the shop to miss minor items that might need tweaking afterwards. call the insurance up and tell them you'll sign a contract stating you won't persue litigation or continue seeing your attorney if they pay XXXXX amount to fix your car. YOU make the deal, don't let them make the deal. it takes a little knowledge and aggressive attitude, but it can be done. don't believe anythign they tell you, be persistent that you want YOUR car fixed and don't care what the internet or kelley blue balls has to say about car values. you had a great car in great shape and intend on keeping it. you don't want to get screwed with more car payments or a used car in with unknown maitenance history. be persistent and don't listen to them, they have pre-canned retorts and commentary on everything but it's all pre-canned and rehearsed BS regurgitated by the person your talking to on the phone. ask for the manager if you have to. when they know you mean business they'll start to crack and want to settle the deal.
good luck and have fun doing it.
Posted 13 July 2005 - 06:42 AM
I will tell you what my lawyer told me. He is surprised that the other insurance company is not kissing my rump roast right now (which is the reason im forced to sue).
He also said that usually all it takes is a letter from a lawyer to get what you want fomr the other insurance company.
If you really like the car, and you want it fixed, it may pay for you to go beyond the free consultation (trust me i went thru 15 of those till i found a lawyer who i liked and would take the case) and pay the 75.00 or whatever for an hour of a lawyers time and have him write a letter to the other insurance company statiung what you want, and unless you get it you will sue. That is usually enough to kick them in the rump roast to get things going.
Sadly it seems most lawyers like really big numbers, My case is giong to be bewteen 20k-350K (i see a foot and knee dr this week..that will make the determintaion). To me thats a lot of money, to laywers, its not.
ALso another think my lawyer said, since i was stoped and rearended, once we walk inot court, there is no defense for the other side.
Do get esitmates, do submit the bills to the other insuracne company, do hold your ground. You have an advantage aside from being rear ended, Your car (like mine) drives fine. I have rental coverage which im not starting yet untill I get a fair value for my car. Insurance companies want thest things settled in 30 days (sometimes 45, depends upon the law in your state). Wait them out if you can, and when you do settle on a price, demand a rental car.
Posted 13 July 2005 - 07:44 AM
Posted 13 July 2005 - 12:15 PM
1. In addition to KBB retail, get NADA book values. NADA values are used as much as KBB for payoffs. Sometimes there are big differences. In your arguments/discussions, have available the highest value to use as leverage/encouragement for them to pay for the repairs.
2. It is possible to "buy back" the car back from the insurance company. In many cases the "buy back" is deducted from your settlement and you avoid the salvage title business. Check with the body shops you are getting estimates from. Some of them offer cash paying customers substantial discounts and you can get the same identical work done by the shop much cheaper than the insurance company. You may also check in to having a local vo-tech do the work on your car. Quality may not be first rate, but the price is usually outstanding.
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