2002 LS 430/Total Loss vs Buyback?
08-21-20, 01:58 PM
#1
Pit Crew
Thread Starter
2002 LS 430/Total Loss vs Buyback?
Wife's car got hit by deer. The functional impact was removal of the driver's side mirror and a broken windshield, but also did a couple of big dents on door panel and left front fender.
Caliber Body priced out the repair at $4K, basically windshield, mirror and replacement door and fender, plus paint, etc. Likely higher when done.
I can do a new mirror via eBay and have Safelite do the windshield, all for around $700-800.
A small local body thinks they can make the panels right for around $2K, mostly just panel repair and paint, vs replacing be door. etc.
My concern about either repair is someone messing up the door lock actuators, etc., when they have to take apart door to repair panels or replace door shell. Not sure many bodyshop techs have dealt with these.
Numbers:
Insurance Repair Cost - $4K
Salvage - $1900
ACV - $5856
Total Loss Payout - $7600 (w/20% add-on via an endorsement I have and sales tax/title reimbursement)
Manheim shows value for Condition 2 car at $3750, and if it wasn't damaged, say Condition 3.5, it would be $5150.
114K miles on the car with a new radiator and brakes, but needs tires soon. Interior good, but cracking leather on drivers seat and both taillight lens are cracked.
Great commuting car....
So, I can keep the car and get $5300, with no salvage title....or take the $7500.
Wife is driving my recently acquired 2006 LS 430, and liking it, so I'd probably continue shopping for another 430, 460 or Tesla.
I've done a buy-back before and it was worth it, but still a hassle to get car back to spec. I know I'd never get $7500 for this car on the open market, so will probably take the money.
Thoughts?
Caliber Body priced out the repair at $4K, basically windshield, mirror and replacement door and fender, plus paint, etc. Likely higher when done.
I can do a new mirror via eBay and have Safelite do the windshield, all for around $700-800.
A small local body thinks they can make the panels right for around $2K, mostly just panel repair and paint, vs replacing be door. etc.
My concern about either repair is someone messing up the door lock actuators, etc., when they have to take apart door to repair panels or replace door shell. Not sure many bodyshop techs have dealt with these.
Numbers:
Insurance Repair Cost - $4K
Salvage - $1900
ACV - $5856
Total Loss Payout - $7600 (w/20% add-on via an endorsement I have and sales tax/title reimbursement)
Manheim shows value for Condition 2 car at $3750, and if it wasn't damaged, say Condition 3.5, it would be $5150.
114K miles on the car with a new radiator and brakes, but needs tires soon. Interior good, but cracking leather on drivers seat and both taillight lens are cracked.
Great commuting car....
So, I can keep the car and get $5300, with no salvage title....or take the $7500.
Wife is driving my recently acquired 2006 LS 430, and liking it, so I'd probably continue shopping for another 430, 460 or Tesla.
I've done a buy-back before and it was worth it, but still a hassle to get car back to spec. I know I'd never get $7500 for this car on the open market, so will probably take the money.
Thoughts?
08-21-20, 02:08 PM
#2
It all depends on how well you like the car. $7500 as a total loss or $5300 with a clear title both sound more than fair. Good luck!
08-21-20, 03:02 PM
#3
Lexus Champion
Actually sounds like a good deal if you have a place to store it while being repaired and if you can do a lot of it yourself you end up with a decent daily commuter/beater. If you have more time you can part it out and make a lot of cash provided you know how to take it totally apart since many parts for these are desirable like the steering column alone being 100s if not more.
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rmawyer (08-21-20)
08-21-20, 06:06 PM
#5
Instructor
Wife's car got hit by deer. The functional impact was removal of the driver's side mirror and a broken windshield, but also did a couple of big dents on door panel and left front fender.
Caliber Body priced out the repair at $4K, basically windshield, mirror and replacement door and fender, plus paint, etc. Likely higher when done.
I can do a new mirror via eBay and have Safelite do the windshield, all for around $700-800.
A small local body thinks they can make the panels right for around $2K, mostly just panel repair and paint, vs replacing be door. etc.
My concern about either repair is someone messing up the door lock actuators, etc., when they have to take apart door to repair panels or replace door shell. Not sure many bodyshop techs have dealt with these.
Numbers:
Insurance Repair Cost - $4K
Salvage - $1900
ACV - $5856
Total Loss Payout - $7600 (w/20% add-on via an endorsement I have and sales tax/title reimbursement)
Manheim shows value for Condition 2 car at $3750, and if it wasn't damaged, say Condition 3.5, it would be $5150.
114K miles on the car with a new radiator and brakes, but needs tires soon. Interior good, but cracking leather on drivers seat and both taillight lens are cracked.
Great commuting car....
So, I can keep the car and get $5300, with no salvage title....or take the $7500.
Wife is driving my recently acquired 2006 LS 430, and liking it, so I'd probably continue shopping for another 430, 460 or Tesla.
I've done a buy-back before and it was worth it, but still a hassle to get car back to spec. I know I'd never get $7500 for this car on the open market, so will probably take the money.
Thoughts?
Caliber Body priced out the repair at $4K, basically windshield, mirror and replacement door and fender, plus paint, etc. Likely higher when done.
I can do a new mirror via eBay and have Safelite do the windshield, all for around $700-800.
A small local body thinks they can make the panels right for around $2K, mostly just panel repair and paint, vs replacing be door. etc.
My concern about either repair is someone messing up the door lock actuators, etc., when they have to take apart door to repair panels or replace door shell. Not sure many bodyshop techs have dealt with these.
Numbers:
Insurance Repair Cost - $4K
Salvage - $1900
ACV - $5856
Total Loss Payout - $7600 (w/20% add-on via an endorsement I have and sales tax/title reimbursement)
Manheim shows value for Condition 2 car at $3750, and if it wasn't damaged, say Condition 3.5, it would be $5150.
114K miles on the car with a new radiator and brakes, but needs tires soon. Interior good, but cracking leather on drivers seat and both taillight lens are cracked.
Great commuting car....
So, I can keep the car and get $5300, with no salvage title....or take the $7500.
Wife is driving my recently acquired 2006 LS 430, and liking it, so I'd probably continue shopping for another 430, 460 or Tesla.
I've done a buy-back before and it was worth it, but still a hassle to get car back to spec. I know I'd never get $7500 for this car on the open market, so will probably take the money.
Thoughts?
08-21-20, 08:26 PM
#7
Lexus Champion
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08-28-20, 01:36 PM
#9
Driver School Candidate
I'm glad I dont have to make that decision. I have a 2001 LS 430, it is absolutley without compare the best car I've ever owned and I've owned a lot of cars. It's has almost 169,000 miles and everything works just like the day it came off the factory floor. All I've ever had to do is replace batteries, brakes and wipers and tires. It still looks fantastic, no fading paint, the chrome wheels shiny as when new. I am just amazed at the quality of that car. Everytime I think I want another car like a Mercedes or Audi I cant find anything that compares in quality. So instead of letting it go, I end up keeping it and buying a truck or vette or a motorcycle. I know a day will come when I have to let her go, but I hope its a long way in the future.
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