User Tag List

Results 1 to 5 of 5

Thread: Joining - wish it was under better circumstances!

  1. #1
    Join Date
    Apr 2017
    Location
    NW Houston
    Posts
    5
    Post Thanks / Like
    Feedback Score
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)

    Joining - wish it was under better circumstances!

    Ok all, wish Id found this site long ago! Just found it today though.

    So, here's the deal - I'm a car guy; do most all the work except paint myself. One car is my son's 06 GT...

    IMG_3978_2.jpg

    Unfortunately, I totaled it about a week ago! Some of you may have seen it, I heard it made the Hou Underground Racing LMAO page. Anyway, I was pulling out of a parking lot turning left, road was back to back traffic and a woman stopped to let me out. She flagged me to cross & I trusted her... apparently she didnt see the Lincoln SUV barreling sown the next lane over. My fault at the end of the day though.

    Car is totaled and insurance is only offering book. I provided lots of comps of similar Mustangs that sold on ebay but they say they'll only consider comps from "local market" which they define as 150 mile radius.

    So, I'm now looking for records of, say, 05-08 Customized Mustangs that have sold in the area to provide. Appreciate any info you guys can provide if you know of some.

    Here's what the car looks like now. Sucks!

    20170414_155002.jpg

  2. #2
    Join Date
    Oct 2005
    Location
    Rosenberg
    Posts
    1,795
    Post Thanks / Like
    Feedback Score
    1 (100%)
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Ouch, tough break... I'm not sure you'll get very far with them unless you can provide invoices for parts purchased within the last 6 months. Unless you have custom car insurance then they're only obligated to pay as if it was a stock factory car. Having said that, their "value" is often lower than book values. When my truck was totalled, they hit me with $15500, I printed out nada and kbb values that showed $18-19k and ended up settling for $17,000.

    - - - Updated - - -

    My advise would be to get what you can for it, then strip everything that they didn't pay extra for off the car and use it on the next one.
    John Smith - Ford Service Advisor

    2005 Mustang GT 5 speed - Sonic Blue, stockish 13.54 @ 106
    1999 Explorer Sport 5 speed - Orange, the boom box/ daily hustler. "Dora"
    2009 Harley Davidson Nightster 1200 - The Death Machine

  3. #3
    Join Date
    Apr 2017
    Location
    NW Houston
    Posts
    5
    Post Thanks / Like
    Feedback Score
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    I'm still researching and gathering facts. Have talked to a couple of buddies - one had a 30 year career and the other 15 or so years in the auto insurance industry. Will be having a discussion with documentation with my insurance company tomorrow. I'm sure that wont be the end of it. Next step will be to invoke a clause requiring independent appraisers. Will update as I make progress.

    One tip I learned for anyone in Texas (probably other states too) who was in an accident and who was not at fault, your insurance wont tell you, but you can claim "diminished value". Here's some info on it... http://www.autoloss.com/Services/Onl...l#.WP_9wNBOnqA

  4. #4
    Join Date
    Apr 2017
    Location
    NW Houston
    Posts
    5
    Post Thanks / Like
    Feedback Score
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    OK, I finally settled with my insurance. Remember, before the accident I had it listsd for $12,250 and had a couple folks saying rhey had cash in hand. My insurance company's initial offer was $6,000. With guidance from the two buddies mentioned above, I did a buch of research to discount their "comps" and provided my own within their 200 mile radius limit and using averages across KBB, Edmunds, and NADA. After two more rounds and escalating to a manager, I finally got a reasonable settlement. Net after my deductable was $10.8k if they kept the car or $9.4 I kept it. I opted for the $9.4k and sold the wrecked car for $2500. So, at the end of the day, I landed with $11.9k. It took a bunch of time. Luckily this wasn't my daily driver so I had the time to work it. Anyway, if you don't get treated fair by your insurance, know you can fight it and get a better valuation.

  5. Likes Jrs012 liked this post
  6. #5
    Join Date
    Mar 2013
    Location
    Piney Woods
    Posts
    549
    Post Thanks / Like
    Feedback Score
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Well that sucks you had to go through all that but in the end you did alright maybe even better than had you sold it to an individual.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •