Need help dealing with insurance to buy back my totaled car!!!
03-26-2009, 06:06 PM
#1
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Location: In Mother Russia...
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Need help dealing with insurance to buy back my totaled car!!!
I would like to know who on i-Club had their car totaled by insurance after an accident and than decided to buy it back? I need help gathering information, so I can resolve the matter in my favor as much as possible. Therefore, if you have gone through this, I would like to know...
What was the year, model, milage and condition of the vehicle?
How much was the final market and salvage values? OR
What percentage of the market value was the salvage value?
What did you do to research/estimate/negotiate/etc the salvage price down?
How much lower were you able to negotiate the salvage value?
How easy/hard did the insurance make the negotiation process?
Any other factors should I know/consider when dealing with them?
HUGE NOTE: PLEASE keep this thread ON TOPIC, I want to avoid questions or comments regarding the events that lead to these questions. Insurance has totaled my car, I want to buy it back, and I need help in doing it. PM me if you would like to know additional details. Thanks!
What was the year, model, milage and condition of the vehicle?
How much was the final market and salvage values? OR
What percentage of the market value was the salvage value?
What did you do to research/estimate/negotiate/etc the salvage price down?
How much lower were you able to negotiate the salvage value?
How easy/hard did the insurance make the negotiation process?
Any other factors should I know/consider when dealing with them?
HUGE NOTE: PLEASE keep this thread ON TOPIC, I want to avoid questions or comments regarding the events that lead to these questions. Insurance has totaled my car, I want to buy it back, and I need help in doing it. PM me if you would like to know additional details. Thanks!
03-26-2009, 06:59 PM
#2
iClub Silver Vendor
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Car Info: 2005 LGT wagon
Have you asked them what is the salvage value of the car?
Where is the car located in relation to where it will go to auction?
How ****ed up is the car?
What is the damage of the car?
Where is the car located in relation to where it will go to auction?
How ****ed up is the car?
What is the damage of the car?
03-26-2009, 07:17 PM
#3
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Location: Rohnert Park/Los Altos Hills, CA
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Car Info: 04 AW WRX
I totaled my STi a month ago and was going to buy it back to resale to someone for parts but no one would say they would buy it for sure so I decided not to buy back from insurance and just took my check for full value.
it was a 2004 sti with 27000 miles
the salvaged buy back was like $5,500 and total value around 23K
It was in very good condition...I didnt negotiate or anything I just asked how much buy back was and no one was interested so I told them I didnt want to buy it back...just ask them how much
it was a 2004 sti with 27000 miles
the salvaged buy back was like $5,500 and total value around 23K
It was in very good condition...I didnt negotiate or anything I just asked how much buy back was and no one was interested so I told them I didnt want to buy it back...just ask them how much
03-26-2009, 08:07 PM
#4
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Yes, I have. Right now it is roughly 31% of the market value.
I am located in Daly City, but have no clue where it will go to auction.
It is ****ed...major front and rear frame damage. Radiator pushed into the engine, engine pushed into the firewall, timing belt skipped all teeth, coolant mixed with oil (what remained of it) etc etc etc.
It is a 2006 WRX with about 46,500 miles on it. Insurance is telling me it is worth roughly $14k market. I think it is a low ball number, but I know how to handle the market value side of this negotiation. However, I do not think the car is worth $4k+ in salvage...I primarily want to recover it for some of the remaining brake and suspension pieces, but engine, turbo, and tranny are gonners.
Where is the car located in relation to where it will go to auction?
How ****ed up is the car?
What is the damage of the car?
What is the damage of the car?
It is a 2006 WRX with about 46,500 miles on it. Insurance is telling me it is worth roughly $14k market. I think it is a low ball number, but I know how to handle the market value side of this negotiation. However, I do not think the car is worth $4k+ in salvage...I primarily want to recover it for some of the remaining brake and suspension pieces, but engine, turbo, and tranny are gonners.
Last edited by LxJLthr; 03-26-2009 at 08:14 PM.
03-26-2009, 08:15 PM
#5
Thread Starter
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Location: In Mother Russia...
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Car Info: ...zeh car drives you!
I totaled my STi a month ago and was going to buy it back to resale to someone for parts but no one would say they would buy it for sure so I decided not to buy back from insurance and just took my check for full value.
it was a 2004 sti with 27000 miles
the salvaged buy back was like $5,500 and total value around 23K
It was in very good condition...I didnt negotiate or anything I just asked how much buy back was and no one was interested so I told them I didnt want to buy it back...just ask them how much
it was a 2004 sti with 27000 miles
the salvaged buy back was like $5,500 and total value around 23K
It was in very good condition...I didnt negotiate or anything I just asked how much buy back was and no one was interested so I told them I didnt want to buy it back...just ask them how much
03-27-2009, 07:54 AM
#8
iClub Silver Vendor
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Join Date: Nov 2002
Location: Participating in some Anarchy!
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Car Info: 2005 LGT wagon
From what I've seen selling at auctions, a wasted STi will almost always get top dollar.
Seems people of Eastern European decent looooove these things.
There are exceptions, of course.
Offer $4,000 and see what happens.
Seems people of Eastern European decent looooove these things.
There are exceptions, of course.
Offer $4,000 and see what happens.
03-27-2009, 12:13 PM
#10
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Thanks Paul. Update, as of this morning the market price went up to $15.3k (before sales tax, aftermarket parts coverage, and towing expenses) and salvage went down to $2.3k (they cut it in half). Do you think it is reasonable to keep pushing on the salvage value (with blown turbo, engine and tranny)? Do you know know of anywhere online I can look? or what good junk yards I can call?
03-27-2009, 01:11 PM
#11
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Yuri, are they offering you Actual Cash Value as the "market price" for your car?
As for salvage quotes, try CoPart in Martinez. Lots of totaled cars end up there.
http://www.copart.com/c2/home.html
I THINK this this their number (925) 370-3900
As for salvage quotes, try CoPart in Martinez. Lots of totaled cars end up there.
http://www.copart.com/c2/home.html
I THINK this this their number (925) 370-3900
03-27-2009, 01:32 PM
#12
iClub Silver Vendor
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Car Info: 2005 LGT wagon
I got a 2006 STi sitting here that has LF damage & blown airbags.
Dealing with the insurance company now, and salvage value is 10-20% of "car's value".
I might be getting it for $3000 and it's got a good motor, trans, brakes, etc.
Dealing with the insurance company now, and salvage value is 10-20% of "car's value".
I might be getting it for $3000 and it's got a good motor, trans, brakes, etc.
03-27-2009, 07:40 PM
#15
first off what were you doing when you crashed the car? also don't buy the car back take the money they give you and ask them if you can have the parts off the car, turbo, tmic, all that fun stuff that GST but on the car for you. Don't buy the car back you have frame damage and the car will never be the same. Take the money, buy a sti and call it a day.