Got rearended... questions
12-24-2011, 08:31 PM
#11
One option I will throw in there, but might not help is to get it appraised. Tell the person before the appraisal that it was damaged, but in excellent condition before the collision. Ask them what it would be worth if it were not damaged. Chances are, they might not agree with you, but it could be worth a shot.
When did you purchase it? If it wasn't too long ago, and you could show it didn't depreciate too much (and more than likely it did), they might work with you.
I really don't think either of these options will work too well, but they are just options to think about. When it comes down to it, an insurance company is a company in business to make/save money. If they can find a way to pay as little as possible, they will try everything they can.
When did you purchase it? If it wasn't too long ago, and you could show it didn't depreciate too much (and more than likely it did), they might work with you.
I really don't think either of these options will work too well, but they are just options to think about. When it comes down to it, an insurance company is a company in business to make/save money. If they can find a way to pay as little as possible, they will try everything they can.
12-25-2011, 09:00 AM
#13
formerly slow03 (11-04-2011)
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It'll definitely be totaled based on the estimate. Insurance will pay right around KBB private party resale. If you didn't get gap then, as said, your best bet would be to buy it back and fix it then drive it or sell it. On a side note, damn on the 15k. I just paid that for an 08 nnbs 4.8 with 21k
12-25-2011, 09:14 PM
#14
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I would pray its totaled and cut your losses... If they will sell it back to you reasonable, start searching for a bed that matches your truck. Eat the cost of having it straightened on a frame jig, slap the bed on, and replace the bumper and brackets. If you could do this and get out of it without buying bed components and having to paint ****, you might come out alright on it. Next time, come to Oklahoma to buy a truck.
12-26-2011, 10:11 AM
#16
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Once it is totaled your loan ballace is now due! That sucks. Mine was totaled at 70 % market value. Start searching the used adds in your area for a similar vehicle at dealer retail. You may get more by proving this is what it takes to replace the vehicle if they total it. Is your insurance company involved? This whole process sucks for those who take care of their vehicles. Good luck!
01-05-2012, 12:36 PM
#17
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In kansas that is incorrect. I spoke with the bank directly and specifically told them the truck is going to be totalled. They said i have the option to of course pay the remaining balance off or to continue paying the regular payment until balance is paid off. Laws vary state to state keep in mind.
On another note:
Truck is in fact going to be a total loss, i have the option to buy it back.
Truck runs and drives just fine, just cant tow with it and the bed sides are destroyed. What can I realistically sell the truck for on the market with out fixing it.
Replace rear frame section and reciever assy and you can tow just like before the wreck.
just looking to see what I may be able to sell for to recoup the money i'll lose from buying so recently.
On another note:
Truck is in fact going to be a total loss, i have the option to buy it back.
Truck runs and drives just fine, just cant tow with it and the bed sides are destroyed. What can I realistically sell the truck for on the market with out fixing it.
Replace rear frame section and reciever assy and you can tow just like before the wreck.
just looking to see what I may be able to sell for to recoup the money i'll lose from buying so recently.
01-05-2012, 01:52 PM
#20
Part the thing out then as it's your only other option. You won't get $15K or anywhere near that from insurance because the truck is simply not worth that kind of money no matter how you look at it. You already know this however by this point. You won't get oodles of cash from parting it either but it's probably a better bang for the buck than trying to sell it damaged and complete to someone. Selling it complete probably will be a very hard sell for one with the miles the truck has on it. I mean up here you would be lucky to get $1500 for it complete with 123K and needing that much frame work and a bed. If it were lower mileage it might be easier but that's purely market dependent.
Your going to be at a loss financially, but if you can handle it, parting the truck may better recoup the difference.
Your going to be at a loss financially, but if you can handle it, parting the truck may better recoup the difference.
Last edited by 1994Vmax; 01-05-2012 at 04:41 PM.