The price you will get from the insurance company is based on what the find the car is worth. How they determine this worth is what you'll have to find out. When my EVO was totalled last July, they paid me just under $30K, value determined by ads in newspapers and cars sitting at dealerships. Of course, at that time, markups were still on new cars and used ones were selling for almost MSRP pricing, hence the $30K.

And I bought the wreck as well, because they only wanted $1200 for it...

 

Update guys:

Insurance adjuster said it was $22,000, instead of $2K.
But I wasn't going to back down like that so easily, since they said $2K. So what I did was that I asked them to pay off the loan, and I get to keep the car. So I get compensated for the amount of the car, plus I get to keep the Evo so I can part it out and make some big bucks.

Success!!!!!

 

i still can't find pics for that car?????

 

It's in the wrecked thread in OT.

 

All in here, last page to be exact:

https://www.evolutionm.net/forums/sh...threadid=42683

 

Wait a minute, you crash your car, you want them to pay off your loan and then you keep the car with no more payments and do what you want with it? Never heard of such a thing. They will not let you keep the car once they pay your loan off. They own it. They will not just give it to you. Wake up, man.

 

I think they just did

 

Yep they just did.

 

Lucky bastard...lol

any way im looking for the top dash piece. PM me

 

What insurance company is this? That's insane! No wonder rates are so high if companies are doing such foolish stuff as that!

 

i've never really dealt with making a claim for anything insured, but every friend i know that has seems to always get the same deal like this:

car is considered "totalled", but is really not bad. they get all the money for the value of the car, and then can buy back the car at a ridiculously low figure.

how can the insurance companies be so stupid? really not fair at all. give the insured party the money for the value of the car, but then get someone qualified to value the wrecked car.

argh.

 

Well, what actually happens is this:

1. Car is wrecked.

2. Adjuster looks at damage, assesses whether the car is repairable or not, and what the cost will be.

3. If the cost is greater than XX% of the value of the vehicle, it is considered totalled. This value will vary from company to company, but I believe it was 60% for mine.

4. The claim then goes to the total loss unit of the insurance company, and they determine what the worth of the vehicle is, which is what they will pay you. This is the part that is negotiable, because you may have special mods etc that raise the value of the car.

5. The loss unit will also place a salvage value on the car. This is determined by computer. Your car's info and damage are fed into a computer, along with an approximate cost to repair, and the computer looks at various auction results around the country to determine what a salvage yard has actually paid for the vehicle. It's just an approximation, because nobody actually looks at the car.

6. Whoever owns the vehicle has the option of buying the salvage, and the carcass then belongs to them, although the car will have a salvage title.

7. If no one buys the salvage, then the insurance company owns the wreck, and they will sell it at auction. Chances are the car will sell for more than the "ridiculously low" figure they gave you, and they make money on it. I'm guessing the vast majority of people will not want the wreck.

So the insurance company is not really stupid, per se, it just isn't worth their time to actually take the car to auction to see what it will fetch. Plus, it's likely that they will make money on the "ridiculously low figure", because remember, if you don't buy it, then *they've* bought it from you for that "ridiculously low figure".

 

i work at a body shop,i can't see how they considered that totalled.i wrecked mine it didn't look much worse then your's

 

This must be the most fortunate wreck ever.. Your real lucky they didn't look at your tires.. I know too many folks who got the royal screws turned down on them for having tires with more tread left on them.. Plus to get a loan paid of keep the car especially with just some front end damage is perfect for a track. car. Take a few grand go get a membership at the ranch, rip out the airbag remains, throw in a cage, and get some skills on the track under your belt.

 

ImportPePe mine was totaled out and I got $28,400.00 with 10k on the mileage. Show them other cars for sale that you would have to buy to replace it. Thats what i did when they tried to lo-ball me like they are you. Remember you can say no to there offer.