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tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2
reply to drew

Re: Car Accident & Insurance Claim Questions

BTW - I really don't see your car being a total loss. I have no idea of the year but it does not look too old. The bumper and fenders and no big deal. If the damage went up into the transaxle or the radiator support then I could see it being a total loss.



drew
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join:2002-07-10
Port Orchard, WA
kudos:6

This is what the guy at the tow yard said this morning. He claimed it was probably 20-25 hours of work plus new bumper, new quarter panels new good and new headlights.

It's a 2006 with lots of options and only 69378 miles on it. Blue book said a little under 10k private party. Edmunds said like 7k. No idea what to believe. 7-10k seems legit looking at eBay and Craigslist.
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tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2

said by drew:

This is what the guy at the tow yard said this morning. He claimed it was probably 20-25 hours of work plus new bumper, new quarter panels new good and new headlights.

It's a 2006 with lots of options and only 69378 miles on it. Blue book said a little under 10k private party. Edmunds said like 7k. No idea what to believe. 7-10k seems legit looking at eBay and Craigslist.

Personally, I go by what the tow person says... they just always seem to be right on. Odd, I know. $1250 in labor and I'm guessing $2000 in parts. Add in some and perhaps you are around $4000 in repairs at the most?

Don't look at Edmunds... this is what only dealers use to screw over buyers (heck, their website even states the prices they list are "starting" prices in the negotiation to buy/sell). I'd guess that the value of the vehicle is closer to the $10k amount. A vehicle is a total loss when it's around 80% of it's value.

Bob4
Account deleted

join:2012-07-22
New Jersey
Reviews:
·Optimum Online
reply to drew

If it's totalled, the insurance company will give you what it would cost to buy another 2006 with 69378 miles, plus tax, minus your deductible. If you just had a major expense like putting new tires on it, try to get the insurance company to give you a few extra bucks.



hitachi369
Embrace Your Rights
Premium
join:2001-10-03
Grand Rapids, MI
kudos:4
reply to drew

Without knowing the VIN or specifics I show

Auction Values  
Date Range: 12/31/2012 - 1/6/2013  
 
--------------------------------------------------------------------------------
                   Low        Average   High
                   Auction    Auction   Auction  
Adjusted Value*:   $5,946     $7,771    $9,621 
 
 

That is where the edmonds quote is coming from.

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Bob4
Account deleted

join:2012-07-22
New Jersey

But the insurance company will give him retail value, not auction value.



drew
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Premium
join:2002-07-10
Port Orchard, WA
kudos:6
reply to Bob4

said by Bob4:

If it's totalled, the insurance company will give you what it would cost to buy another 2006 with 69378 miles, plus tax, minus your deductible. If you just had a major expense like putting new tires on it, try to get the insurance company to give you a few extra bucks.

I put new tires on it less than 30 days ago. And had filled it with a full tank of gas about 10 minutes before the accident. Yay..............
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Bob4
Account deleted

join:2012-07-22
New Jersey
Reviews:
·Optimum Online

Work with your insurance company to give you something for the new tires. You'll need a receipt showing the mileage when they were put on. I had the same thing happen and the ins co gave me something like $100 for the tires. Not a lot, but it's better than nothing.

The above is assuming they total the car.


tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2
reply to Bob4

said by Bob4:

But the insurance company will give him retail value, not auction value.

Depends on the carrier... as to what value the consider.

I don't think it's a total and I don't think either carrier has said it was yet. But if t is, then I'd recommend getting values from both carriers to see who will pay more. You might be surprised. I've worked for carries that average all 4 NADA values to determine value. I've worked for carriers that take the highest retail NADA value and pays this. This can mean a 20% difference in value.

A carrier would rather have you pick one carrier to go through but there is nothing to stop you for "thinking" about filing with each carrier, getting them to give a value, and then picking only one to file with.


drew
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join:2002-07-10
Port Orchard, WA
kudos:6

How can I see what the NADA values are?


tcope
Premium
join:2003-05-07
Sandy, UT
kudos:2

NADA.com (Consumer).



drew
Automatic
Premium
join:2002-07-10
Port Orchard, WA
kudos:6

Click for full size
Quite the difference in price between the four values. I sincerely doubt they'd pay out $11k for the vehicle.

If they valued it at $7.1k, I could see them totaling it out. Not at $8.5k+ though.
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Bob4
Account deleted

join:2012-07-22
New Jersey

The payout should be $11375 + tax - deductible. Assuming the web site provides real values.

Dealers in New Jersey use Galves, not NADA. I don't know what the insurance companies use.



drew
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Premium
join:2002-07-10
Port Orchard, WA
kudos:6

I bought it 3.5 years ago with 32k on it for $13.1k and everyone told me I got robbed.

»[Rave] 2006 Toyota Corolla
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