Bad news.

Topic: Bad news. (Read 11357 times) previous topic - next topic

Reply #45 – December 21, 2008, 12:42:08 AM

I bought one back once. (hail damage total) They wanted more than what any yard would have paid. But I think they totaled the car for about 4700 and I bought it back for 12 or 1500. In my case it was well worth it, cause it was just some lite, but widespread hail damage and the car still ran perfect. (440 Six Pack under the hood)

I can't imagine that they will charge you much for it to buy it back, cause my GUESS is they aren't gonna want to give much for it as a total anyway. But it's just a guess

Good luck, and I hope they treat you right

Bad news.

Reply #46 – December 21, 2008, 12:48:24 AM

My blue Thunderbird on the banner washiznit twice in two weeks.The first hit busted the driver side lights,bumper cover and fender,the second hit crushed in my driver side door.I got a check from both people's insurance company and proceeded to rebuild the Sport.They didn't total it for me.

Bad news.

Reply #47 – December 21, 2008, 11:23:04 AM

your policy states the coverage.

To buy back a car,...

-the insurance simply estimates the damage.
-they will total it (parts no longer available)
-they will look up the value
-they will likely say its worth 500
-subtract that amount from the damage
-new total is what your check will be if it does not exceed the policy.

my 84 was total and i bought it back for 300.
my check was 1800.

I ended up parting it out , selling the engine and trans, all told in the end that total made me an additional 1200 bux on top of the insurance check.

Your car needs a front clip to include the rad box frame for the lower / upper rad supports. Its not all that bad and if you know someone who can weld it back in, its just a matter of bolting body parts back on.

Bad news.

Reply #48 – December 21, 2008, 11:46:50 AM

Quote from: vinnietbird;248364

My blue Thunderbird on the banner washiznit twice in two weeks.The first hit busted the driver side lights,bumper cover and fender,the second hit crushed in my driver side door.I got a check from both people's insurance company and proceeded to rebuild the Sport.They didn't total it for me.

My recent experience with my 88 T-bird in Washington State, was similar to this of Vinnie's.
They didn’t brand the title, they wouldn’t fix the car, they just bought me out for $1200 and let me keep the car, told me to get it fixed myself if I wanted it fixed.

ps. There was some sort of "buy back" offer, but they waived it and said "Just keep the car" becouse I was not pleased with the $1200 offer.

Bad news.

Reply #49 – December 21, 2008, 01:14:06 PM

Make sure you read anything carefully that they want you to sign.
My daughter signed some papers without reading them, and ended up giving her car to the insurance after they said it was totaled. come to find out, if she didn't sign the papers, she could have had her car fixed for $200 in parts. they scammed her into signing. then I'm sure they parted it out. or fixed it and sold it

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Reply #50 – December 21, 2008, 04:31:58 PM

Quote

Is it expensive to buy back a car after they say its a total loss and is blue book high for my car? Anyone knows?

it will be totalled. laybor allone will probably total it but parts, storage and towing will ad up quickly as well. i would be really suprised if it was more than 600 to buy it back. im betting 300-400. i would deffinetly get it on a frame machine asap and start looking for parts. im sure you can source the parts easy out in there in cougar/tbird epicenter of the world!

i forget the math but when my car was wrecked (the red mustang below) it totaled out. the cost to repair was almost exactly wat they booked the car out as. i could have made them fix it but i figured id be better off totaling it. it cost me 1600 to buy back. this figure was what a salvage yard would typically "bid" to the ins. co. for the wreck. they cut me a check for the cars value, plus tax, minus deductable and minus the buy back. it ended up being about unough to clear another car with a little searching around.

just make them understand right away that you dont want to give the car up. a tow yard has it now so once the ins. co. makes a decision and cuts a check thing will happen fast. if they cut you a check for the full ammount they will sell the car to a s/salvage yard and you wont get it back. i had the tow driver tow the car right to my house because i knew i was going to keep it and paid him for the tow. if i were you id at least talk to the tow yard and work out a deal and either try for a reduced rate or id square up with them and get the car out of there. its racking up a fat storage bill sitting there.

Bad news.

Reply #51 – December 22, 2008, 03:16:26 AM

Quote from: shame302;248398

just make them understand right away that you dont want to give the car up. a tow yard has it now so once the ins. co. makes a decision and cuts a check thing will happen fast. .

first of all, its your job to get the frigging car off the lot. pay the bill and get it out of there fast. there is no law that says it has to stay there and its stupid of anyone to do so. Your not sure what the daily storage rate is and that will eat up most of the insurance.

second off, dont volunteer information. Insurance adjusters are typically going to do thier job and do it well. All my encounters with them have been honest and well informed meetings. He/She will look over the car and comb through it doing a good job to make sure thier opinion of damages are dospoogeented well.

Once this is done, you will be notified of the estimate of damages , or, you will be offered the chance to suggest a mechanic who will fix it. The check will then either go to you or them.

Only at that point should you mention you would like to buy the car back.

A better and more forward thinking solution is to tell the insurance company that you would like to discuss the cost of damage and how that effects the policy you are on now. Lets say the car has 4k worth of damages to include labor / materials. Inquire how this dollar amount effects your premium over the next policy period and what would your policy cost if you covered half of the damages.

The effect of paying a higher premium later for many years vs eating some cost now may make better sense. Lets say you cover 50% of the bill, how would that effect your policy until your 26 vs letting them pay the whole bill.

Right now they are paying to fix the other guys car so your in thier pocket so to speak as it is.

Bad news.

Reply #52 – December 22, 2008, 12:48:26 PM

Quote

first of all, its your job to get the frigging car off the lot. pay the bill and get it out of there fast. there is no law that says it has to stay there and its stupid of anyone to do so. Your not sure what the daily storage rate is and that will eat up most of the insurance.

Quote

if i were you id at least talk to the tow yard and work out a deal and either try for a reduced rate or id square up with them and get the car out of there. its racking up a fat storage bill sitting there.

most people leave the car there untill the ins. co. does their thing. more so if its likely totalled. i wouldnt leave it there but not everybody can store wrecked cars.

Quote

second off, dont volunteer information. Insurance adjusters are typically going to do thier job and do it well. All my encounters with them have been honest and well informed meetings. He/She will look over the car and comb through it doing a good job to make sure thier opinion of damages are dospoogeented well.

Once this is done, you will be notified of the estimate of damages , or, you will be offered the chance to suggest a mechanic who will fix it. The check will then either go to you or them.

Only at that point should you mention you would like to buy the car back.

my ins co. out sources the actual car inspection. the adjuster never sees it. i agree, once you hear back from the ins. co. itself than let them know you plan to keep it (assuming they tell you its a total loss).

Bad news.

Reply #53 – December 22, 2008, 08:29:46 PM

Hate to be the possible bearer of bad news, but something I haven't seen mentioned in this thread, just assumed is...

Samantha, did you have full coverage insurance on the cougar?

20 year old car is more often than not only going to have liability, in which case this is your problem, you are at fault (were ticketed) in the accident, there will be no pay off, no buy back, and the Tow/Storage bill is also yours.

Now in the case that you had full coverage insurance on a 1988 car, I believe (not sure) you would have had to have it appraised in order to get full coverage, in that case you should know what they will be paying you for it.

Bad news.

Reply #54 – December 22, 2008, 09:33:55 PM

Quote from: Jim_Miller;248540

Hate to be the possible bearer of bad news, but something I haven't seen mentioned in this thread, just assumed is...

Samantha, did you have full coverage insurance on the cougar?

Quote from: Samantha;248129

Thank god for full coverage insurance!

Bad news.

Reply #55 – December 22, 2008, 11:42:49 PM

hadnt even thought about that. i have full coverage on everything, as i believe everyone should.

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Reply #56 – December 23, 2008, 01:08:13 AM

Quote:
Originally Posted by Samantha

             Thank god for full coverage insurance!

Ahhh Sweet, I even read back through this and still missed that.

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Reply #57 – December 23, 2008, 01:10:50 AM

state farm told me I have to have some sort of special appraisal of my 20th in order to justify anything beyond 800 dollars.

I guess thats what she did. I dono how much her car appraised for or is quote unquote valued at with the insurance company.

Bad news.

Reply #58 – December 23, 2008, 09:19:42 AM

When I had my cougar on the road, I had full coverage on it.
It was in mint condition until I put it away.
They would want a picture of it every year.

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Reply #59 – December 23, 2008, 03:04:57 PM

Quote from: daminc;248595

They would want a picture of it every year.

Just send them the pic in your sig. They should be fine with that:D