Pulling the trigger...
11-14-07 | 07:49 AM
#16
Driver
Joined: Feb 2006
Posts: 103
Likes: 0
From: CA
In CA at least, ALL insurance companies are required to pay your sales tax when they settle a total loss claim with you. Some will also reimburse your unused registration fees. If Mercury didn't, you should file a request w/ the DMV for unused lic fee refund. Here's the application form:
http://www.dmv.ca.gov/forms/reg/reg65.pdf
You're right about the fact that the settlement has to be based on actual comparable vehicles for sale.
Here's the info from the CA insurance regs regarding the requirement for them to pay your sales tax:
(b) When the insurance policy provides for the adjustment and settlement of first party automobile total losses on the basis of actual cash value or replacement with a comparable automobile, one of the following methods must apply:
(1) The insurer may elect a cash settlement based upon the actual cost, less any deductible provided in the policy, to purchase a comparable automobile including all applicable taxes, license fees and other fees incident to transfer of evidence of ownership of a comparable automobile. Such cost shall be determined as follows and, once determined, shall be fully itemized and explained in writing for the claimant:
(A) when comparable automobiles are available or were available in the local market area in the last 90 days, the average cost of two or more such comparable automobiles; or,
http://www.dmv.ca.gov/forms/reg/reg65.pdf
You're right about the fact that the settlement has to be based on actual comparable vehicles for sale.
Here's the info from the CA insurance regs regarding the requirement for them to pay your sales tax:
(b) When the insurance policy provides for the adjustment and settlement of first party automobile total losses on the basis of actual cash value or replacement with a comparable automobile, one of the following methods must apply:
(1) The insurer may elect a cash settlement based upon the actual cost, less any deductible provided in the policy, to purchase a comparable automobile including all applicable taxes, license fees and other fees incident to transfer of evidence of ownership of a comparable automobile. Such cost shall be determined as follows and, once determined, shall be fully itemized and explained in writing for the claimant:
(A) when comparable automobiles are available or were available in the local market area in the last 90 days, the average cost of two or more such comparable automobiles; or,
11-14-07 | 08:49 AM
#17
Former Sponsor
Joined: Jan 2003
Posts: 13,002
Likes: 1
From: D2'sville
Sorry about your loss, but congrats on your gain of a shiny new Lexus!! I'm also glad the insurance company did the right thing by you. In so many cases they try to nickel and dime you out of the money you are entitled to.
As rominl said, the Acura cars are excellent value-luxury cars, however I do not find them to be in the same "class" as the premium luxury cars. I note that when mentioning Acura the unbeatble feature content and price point is always mentioned.
Whats odd is that does apply to their SUV's. When we were shopping for a new family hauler (earlier this year), the MDX deals were really thin!! We ended up going with the R-Class, but if you can get a smokin deal on it, the MDX is a great truck for the money. (there we go with the value again!)
As rominl said, the Acura cars are excellent value-luxury cars, however I do not find them to be in the same "class" as the premium luxury cars. I note that when mentioning Acura the unbeatble feature content and price point is always mentioned.
Whats odd is that does apply to their SUV's. When we were shopping for a new family hauler (earlier this year), the MDX deals were really thin!! We ended up going with the R-Class, but if you can get a smokin deal on it, the MDX is a great truck for the money. (there we go with the value again!)
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