Help! My adjuster wants to total my car, what are my options?

[liquidcool]

Continuing this thread: Got rear-ended at 45-50mph today My adjuster just called. Says NADA value on my car is $47k (after adding in $7k for low mileage, so apparently they think a higher mileage 01 is worth $40k).. salvage value is $25k and my claim is $33.5k. So they want to total the car and pay me $47k. Now, the background is: I paid $62k last fall (plus $4k in tax), then I added MAShaw bumper, techart splitters, navi/radio, and $5k in wheels. so I have about $75k in the car (plus the 2nd gear popout fix). Getting paid $47k for it would be a huge loss. After some discussion he said I could keep my $5k wheels and put the stock wheels back on (but what would I do with wheels for a 996tt without a 996tt to put them on?) He said I could take $24k and a salvage title. After asking if I could take $23,999 and say it wasn't totaled, he said yes. After some talking about the mods on the car and what I have in it, he said he'd write me a check for $27k right now I keep the title. I'm not sure I could buy as nice a car for $50k, let alone $50k + tax. I'm also not sure I can fix it properly for $27k Or: I could take the $27k and pick up a used exhaust, turbos etc and try to piece it back together... maybe trade it in on a newer one. On the plus side, the damage is limited to the exhaust and rear bumped cover. My indy drove it hard and the motor seems to be fine and the alignment is good, there is no uni body damage. What do I do???

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[dinorocz]

Considering all the options, if you still love the car and wanna keep it then the adjuster is not offering you a bad deal. I actually own a bodyshop and deal with this stuff daily. The only one who can answer the question is you. Financially it makes sense to keep it and find a reputable shop that will do the job for 27, more or less

[LUISGT3]

PM sent.

[ari]

Take the money and as many mods as you can and start over.
You can buy a nice, already modded car for 50-55k.

[Zuluracerx]

Exhaust and rear bumper repair (with paint) for $33K? I must be missing something? Buy a Tech Art bumper and an aftermarket exhaust, paint for a fraction of $33K. if that is the deal, take the $27K and run!

[jimmer23]

Dude, what's the issue? If the car's fine and they want to give you 30 g's to buy a new bumper, it's a no brainer. TAKE THE MONEY AND RUN! You get a clean title and tons of cash? I wish I had your problems!

[angldrkns9]

um. really depends on how much damage is done to the car. i doubt it's just bumper damage.. if the damage is adding up to 20k+ i'm sure there's A LOT of work needed to put the car back in order

just to share: i had an accident in my 4S a while back and my insurance claim came up to about $18k.

i am kindof confused. why can't you tell the insurance company I WANT TO FIX MY CAR TO THE SAME CONDITION IT WAS BEFORE THE FU*KING IDIOT REAR ENDED ME? usually in a rear end case, you are at no-fault automatically

[liquidcool]

There's no issue of fault here, they're going to pay, it's just a matter of how much. The other driver slid under my car and banged up the exhaust (b&b, $4.5k), the headers and turbos (stock). The stereo flew out of the dash and when the wires grabbed it, it cut the leather dash ($2500+labor to replace)

Other parts needed:
Bumper cover 1758.45
Beam support 686.60
Bumper mounts 91.02 each
Left Heat shield $80
Right heat shield $80
Middle heat shield $178
L&R heat shield 148.52 Each
87.09 each l&r heat shields
Rear center panel $375.05
Rear cross Member $90
Air box $512


So we're looking at almost $20k in parts to replace everything back to how it was... plus labor, paint, etc, so there really is $32.5k in damage. Now, I may be able to have the turbos rebuilt and pick up a stock exhaust to save money and ignore the cut on the dash, etc to keep costs down. But I don't think you want to envy my problem, it's not as good as it sounds. I could probably take the $27k and fix the car up reasonably well for $15k but would you let me wreck your car and leave it bandaged up for $12k?

Here's a question: what are the ethical ramifications of trading in a wrecked car for a perfect car? Or are there none because it's the dealer's responsibility?

[LUISGT3]

A $32k hit on Carfax for an accident will make that car worth about $35k tops once it's fixed.

[NineNineSixTT]

http://www.911pcar.com/

If you decide to fix it, you should look into them for certain parts.

Dash, heatshields, bumper mounts, etc. Also are those prices retail or suncoast/sunset porsche pricing?

Also suncoast has a air box for like 300. How bad is the exhaust banged up? You can pick up a nice exhaust for around 2k. I've seen fabspeed, europipe, techart, all for that price range in the for sale section here.

[mr2guysingh]

You can find a 996TT for 50K

[MARKSKI@911tuning]

Tell the adjuster that you will take off everything reusable thats aftermarket.... take the 47K and get a new one. Run as far as you can from that car.... it will be worth 20K less after you put it back together next year.
OR,
take the 27K and make sure its still not deemed salvaged and fix it for a lot less..
markski

[ttboost]

You already know this car, if this is the only damage that you know of and it can be fixed reasonably (I know that is a relative term!), AND IF you plan to keep the car for a reasonably long time...fix it.

[ard]

Do you have the right to purchase the totaled car in Ohio?

You need to expand upwards from $47k. That is THEIR the value of a comp... then add in your additional expenses. Get the receipts, tally it up. Given the tranny rebuild and proximity to the total lost I'd try to get that into the deal.

AFTER YOU'VE COME TO A VALUE, hit them with taxes. You 'lost' taxes- it will cost you taxes to go out an buy a new car for $47k. In CA it is not an issue- insurnace pays taxes. They will, of course, argue that "oh, our number included taxes'. Bull. NADA does not include tax, nor do comps. For this reason you must wait until the very end, once all the comps are done, to hit them with tax.

Personally I would take the $$$ and start over- the hassles of repair and having to deal with a buyer when you sell it would outweigh the hassle. I also don't believe him when he says he will guarantee a 'no salvage title'. Get that in writing if you do go that way.


Put this in writing:

"Thanks for the offer, but we need to clarify the actual value of my loss'.... within XX mile sof thius accident I purchased the following: x, y, z with a value of a, b, c. The total is $14,900.

A review of the pricing for a 2001 996TT in excellent condition shows the following:

Edmunds
Cars
NADA
etc

The average price, retail, of a car is $53,700

I will therefore settle this claim for $53,700 plus $14,200

Thanks

Liquid"

Print out all the stuff, page prints on pricing, dated receipts, etc

One thought- if it starts getting too high, he may decide they need to fix it.... You could get it up there, then say "I'll take off the tranny repair and it will be $59k or whatever."


You are entering this funny world of 'hard and fast numbers and receipts' mixed with good old fashioned 'lets make a deal horse trading'


Sorry to hear-

Good luck

A

[CoreyNJ]

Wow 47k, these cars have dropped way more than I thought... I find that scary as NADA has my 03 C2 aerokit in the mid 40's for clean retail and your 2 year older turbo is about the same.... Or are they only giving you trade-in value... If that's the case I would fight it for more money...