Tom57

You can "sell" a waiver of your personal (bodily injury) claim to make up the difference ...

volson

Where are you located? I prefer those wheels to the ones on my 02 UL

ejthomp

First number was $11,000 for repair, but estimator needs to look at a few more things. We'll probably hear back from them tomorrow.

Lavrishevo

iTrader: (1)

I'm impressed it is that low. Be careful what facility you pick to fix it if you go this route. I researched and picked the nicest and most expensive autobody shop I could find. Everything was OEM and paint matches perfectly.

ejthomp

That was the insurance company's estimate. He came to our house. The car will need to be towed to the shop. I've told them we are going to the Lexus certified shop. We should know more tomorrow. I hope they agree to fix, but I suspect they are going to say it is totalled. Then the negogiation begins.

If I have to buy another vehicle, aren't I also entitled to the cost of tax and license as well? We have a brutal 8.4% sales tax. Looking around the only comparables I can find are about at $15k add sales tax and licensing fees and I'm out $16.5k at least...

Are my numbers reasonable?

How much does a vehicle like mine sell for with the damage? I can see the insurance company selling it to offset the payout. Wonder what it would auction for with the damage.

Jimboi831

Tax and licensing fees will be included. you will also have the option to buy back the vehicle, though it will have a salvage title on it. You could always part it out as well at that point. Sounds like it may be totaled.

jomega29

Unless its got 13k on it id say your right a out junked out, if you go through your insurance it will be 65-70% of the value of the vehicle is all your insurance company is willing to pay to fix it, if you go 3rd party(the person that hit you) they are willing to pay up to 100% of the value of the vehicle to fix it, once it reaches 101% its junk at that point you can buy it back from the insurance company for a salvage fee(what they feel they can get for it at the salvage/dealer auction) which is usually 30% of the value of the vehicle at that point they can keep it!!! Ive been in the collision business for a long time and thats just how it works

BradTank

Never take their first offer. My dealings with insurance companies is they will try their best to screw you. I remember somebody rear ended my car and the driver's insurance company tried to hand me a check for something like $130 to settle it, they ended up paying something like $1,500. The $130 check wouldn't have covered the rental car while it was being fixed.

I would negotiate and get the car totaled out rather than $11,000 in repairs on a car worth around $14,000. Body shops almost always cut corners, the paint is not going to be as high quality as it was and the resale value will be in the toilet with the accident in its history. To me it looks totaled.

Tom57

Whose insurance company are you dealing with, yours or the person liable for hitting your wife?

ejthomp

The company responsible for hitting my wife....

They came back totaled today, gave us an offer and said we have to return the rental car on Monday.

The offer isn't bad, but why do I have to rush to find a car? They say it is their policy to give 3 days after extending offer.

Tom57

You should know that their offer includes a full and binding settlement of your personal injuries as well, not just the car damages. The insurance company will expect your wife to sign a complete waiver of liability in that regard. You should be paid some amount (called "general damages") above and beyond the value of the car for pain and suffering, physical discomfort, mental anxiety, stress, and similar negative effects of the accident. You should negotiate a higher number than the first number offered.

2KHarrier

FWIW
My wife and I were rear ended about 2 years ago sitting at a stop light. We were injured. My wife to the point that she spent a night in the hospital. The driver's insurance company wanted to settle immediately, and offered to cover the car, pay us 500 dollars and cover our medical bills. The car was totaled (2002 Pontiac Bonneville) and they offered us 3900 for the car, which was fine with me.

I ended up getting a lawyer and we eventually settled for 105K, of which the lawyer promptly took 33%....

We ended up with almost 60K, of which 12,000 was used for medical bills. We still walked away with a good amount of change, but my wife went through surgery on her shoulder and my neck bothers me every once in a while.

Just glad that your family was not injured. Cars can be replaced...

AJT123

This is really good advice. I would lawyer up in a second if anyone rear-ended me, no matter what the circumstances. Call me litigious, but it wasn't my fault. If my car were totaled (the car I spent a year and change looking for, after the maint $ I've put into it), I'd demand to be compensated.

ejthomp

The entire situation just sucks. I'm looking at the claims adjuster numbers and it really boils down to a line item called "Comparable Vehicle Condition Adjustment" This is a value adjustment that is subtracted from our vehicle value based on the idea that the dealer would have to refurb my car to sell on their lot. The idea is that the market value of my car is $1500 less than what I can buy a car for AND THAT IS JUST TOO BAD. I'm only entitled to what my car is worth, not what I have to spend to replace it.

Well low and behold, the comparables to the Lexus dealers are GREAT.... and yet the comparables to places like "Wholesale Auto" suck. Basically a 5k swing. Average it out, and I'm shortchanged about $1.5k. Funny how that works out in their favor.

My tactic tomorrow is to point out the errors in their gospel and see where it goes. I'm just looking to be made whole.

jimbosr1

i would see how much it will cost to buy your car back.then either sell it or part it out if possible.i had a car i bought back for $50 and sold it for $500 in 1999.i would bet you could sell it and make pretty good money.good luck.