Car value vs being totaled

ChibiJosh

ChibiJosh

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Well, I'll start with the story since it's a testament to human intelligence. I live in an apartment with a driveway. My car doesn't leave the driveway very often unless I go to the store, I walk most every where else. I'm moving out in a couple months, and someone came by to see the apartment. They apparently parked behind my car, and rear ended it somehow, I'd like to think they did it when they were leaving. They left a note and everything, they explanation they gave was "my foot slipped off the gas and accidentally hit your car." I don't know how that's possible, but whatever.

Anyway, the damage done was that the bumper was mostly cracked in half, there was a Y-shaped crack in the body under the trunk, and some paint scratched. We got an estimate and it was nearly $1000. The person doesn't believe that could be possible so now their sending an insurance person to look at it.

My dad is worried that the insurance person will claim that the car is totaled and the only way to get money is to give up the car which doesn't seem right to me, but what do I know? I tried to look up the blue book value, but when I put in all the information, there are 3 different values: trade-in value, private listing value, and suggested dealership price (or something close to those). So, which is the actual value? From those 3, the range is about $300-1700.
 
Most insurance companies use replacement value, which would probably equal something between the private listing value and the dealership price. Different insurance companies use different standards when determining if a car is totaled or if it is better to repair.
 
From the damage, I'd say they pulled in too fast and nailed your car. No way that could've happened from a parked start right behind you.
 
They are not going total your car with that damage... I got rear ended once, the person was going about 45 at the time, and the damage to my car was just shy of $5,000... the insurance person will come out, they'll try to offer you like $550... then you take it to a repair shop, they'll fix it for the $1,000, and then their insurance will have to make up the difference....

This is what my experience has been
 
[quote name='DestroVega']They are not going total your car with that damage... I got rear ended once, the person was going about 45 at the time, and the damage to my car was just shy of $5,000... the insurance person will come out, they'll try to offer you like $550... then you take it to a repair shop, they'll fix it for the $1,000, and then their insurance will have to make up the difference....

This is what my experience has been[/quote]

It all depends on the age/condition/value of the car. Judging by the OP, their car is fairly old, I'm gonna guess, based on the value, a 98 Dodge Neon (not making fun, I've owned 4 Neons and still drive one).

But anyways, in this case, even with something particularly minor the insurance company can opt to total the car if the damage is >50% of the car's value. The plus side to this, in many cases, is that the company will pay you fair value, and then you may be given the option to buy-back the car at a very reduced price, less than what the company paid you.

With that, you can buy the car back and use the remainder of the money to fix the car yourself. But this really only works out to the advantage of someone who is knowledgeable in fixing cars. But this varies from state-to-state, company-to-company and case-to-case.
 
Insurance companies will always give you the option to buy back the car.

I had an old Honda damaged by 2 consecutive hail storms, they totaled out the car and sold it back to me for a little over $100.

Disadvantage is you then have a totaled title, most insurance companies will not let you continue complete coverage (you would have to go to liability)

On older cars the money collected is usually worth it.
 
nah forget that crap

this is what you need to do....

on a clear sunny day, search for the car that messed yours up. then, ram that car with your car and leave the same note.

that way you can get rammed car justice.

or...if you're real cut throat, ram the person's family member's car or a loved one of the person's

yea...that'll teach them to ram a car and not leave contact info!!!!!
 
Thanks for the replies, everyone.

[quote name='sp00ge']It all depends on the age/condition/value of the car. Judging by the OP, their car is fairly old, I'm gonna guess, based on the value, a 98 Dodge Neon (not making fun, I've owned 4 Neons and still drive one).[/quote]

It's actually a 90 Buick Electra. But, other than this damage it's in pretty perfect condition, and I've never had any problem with it.

[quote name='strongpimphand']
yea...that'll teach them to ram a car and not leave contact info!!!!![/quote]
They did leave contact info. You obviously didn't read the entire post.
 
[quote name='strongpimphand']nah forget that crap

this is what you need to do....

on a clear sunny day, search for the car that messed yours up. then, ram that car with your car and leave the same note.

that way you can get rammed car justice.

or...if you're real cut throat, ram the person's family member's car or a loved one of the person's

yea...that'll teach them to ram a car and not leave contact info!!!!![/quote]

The OP said they left a note and that they've been in touch about the damage. How did you get that part about not leaving contact info?????
 
they might say the frame is damage and total the car out.... Like someone else said they usually always give you 2 ways


Take the entire check or take 100 to 150 off the check and keep the car


ummm you say

90 Buick Electra. But, other than this damage it's in pretty perfect condition,

but the quotes you see is 300 to 1700 ....... you sure those prices are right..

love to find a running car for 300 bucks


ALSO for some extra cash. When the insurance person comes out Ask them about

LOSS Of Use. some insurance companies will pay up to 60 bucks per day after the wreck if you say your car is not driveable

of my 3 total wrecks i got into 2 did and 1 did not... Each time i got around 600 extra bucks

Last car was like

1500 to total it out and 650 bucks for loss of use...
 
[quote name='ChibiJosh']Well the $300 was the trade-in value. The $1700 was the dealership price.[/QUOTE]

even its a good running car would love to find it at 1700.. almost every car dealer i go to cars start at 3000... Even in the paper people want 2500+ hard to find a car these days under 2000 that is a good running car
 
You are actually in a really good position. You have a handwritten note by the person flat out saying it is their fault.

The Insurance co. can't fight that. But like your dad said they could call it totaled. This puts you in another good position as you claim loss of use since the time of the accident like slidecage said.
They can't fight that either since it's "totaled." And like I said their client already admitted fault in writing.
 
[quote name='sp00ge']It all depends on the age/condition/value of the car. Judging by the OP, their car is fairly old, I'm gonna guess, based on the value, a 98 Dodge Neon (not making fun, I've owned 4 Neons and still drive one).
[/quote]


That's why you get all the fat chicks!
 
[quote name='Hybrid5006']That's why you get all the fat chicks![/quote]

Ha! :lol:

[quote name='Malik112099']You should slap your dad for thinking a perfectly good car would be totalled for $1k in damage...[/QUOTE]

Sometimes it doesn't matter on the condition. The car is almost 20 years old, and realistically, how much more life does it have in it? And how does the cost of repair balance out compared to the amount of life that it still has? Unless it's a classic (and sorry OP, the 1990 Buick Electra is far from a classic), there isn't much monetary value in a car that old, and that plays a huge part in the car's fate.
 
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