Recovery for totaled vehicle
#1
Recovery for totaled vehicle
Earlier today, a guy crossed my lane and caused a collision that totaled my '08 G37S. It was immaculate; the car had its own separate 3rd bay in the garage. Just replaced the clutch as an upgrade (not a repair) and it had some other good upgrades. So what are your thoughts on value?
Think my wrist is sprained and I am a bit sore but seemingly nothing too serious.
Thanks for your thoughts on car value.
Think my wrist is sprained and I am a bit sore but seemingly nothing too serious.
Thanks for your thoughts on car value.
#2
Registered Member
Sorry for your loss. Unfortunately our cars don’t hold a strong resale value. Make sure you tell the insurance adjuster about your upgrades and have ready any receipts of those upgrades. The value is really up to the insurance company what they’re going to give you, and maybe you can squeak more out of them because of prior condition and upgrades.
#3
Registered Member
Depending on mileage and location, you should get estimates from KBB and Edmunds to compare with what the insurance company will offer you. Since we can assume this was 100% the other parties fault, at least you won't have to pay the deductible.
#4
A similar thing happened to me when I was 19. Insurace wont pay for the extras unless you agreed on a value before hand. Anyone with a heavily modified vehicle should do this. They will pay for an average car similar to yours. If you fight you may get paid for an above average version. I still wasn't happy and the adjuster said he was at the limit they could release for my make and model. He did sell me the car back for $50 and I parted it out. Assuming your time is cheap this can work. I was 19 and made alot of "profit" out of the deal. These days I wouldn't have the time. Parting out a car is a part time job that takes 3 garage bays. Good luck. Let us know how it goes. Sorry about the car. Glad you're ok.
#5
I had an integra years ago with a similar situation as yours. Just put a new engine in with reciepts. It doesnt matter to them, and they wont give you an allowance for that. I ended up getting a lawyer, and they had to pay out on my injury claim. I didnt recoup my losses on the car, and neither will you, so I had to get creative. I bought the car back from them on the cheap, and parted things out and sold what was left to make up the difference. They will consider any maintenance to the car, and upgrades as maintenance only and the losses are yours.
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