How to buy back a totaled car cheap.

[BIGJake111]

Does anyone have any suggestions? I am moving along swiftly in the process to my next boxster, things are looking up greatly, the one base i do not have covered is pushing down the totaled value for buying back my car.

[Timco]

First boast about the glass window (claim), then downplay it to the same company (buy back). Love it. Just print a few IMS threads to give to the buy back dept.

[BIGJake111]

Originally Posted by Timco

First boast about the glass window (claim), then downplay it to the same company (buy back). Love it. Just print a few IMS threads to give to the buy back dept.

I really do wonder if i can play ims into things at all, my car having a dual row with many cars having the single. Seems to be something hard to prove though.

[JayG]

Originally Posted by BIGJake111

I really do wonder if i can play ims into things at all, my car having a dual row with many cars having the single. Seems to be something hard to prove though.

It's very likely that the ins adjuster has no idea about the IMS issues. I would not bring up single row vs dual row at all

[BIGJake111]

Originally Posted by JayG

It's very likely that the ins adjuster has no idea about the IMS issues. I would not bring up single row vs dual row at all

Would the lack or knowledge not be beneficial, Leaving just some documentation to sway the adjusters opinion.


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[thstone]

As you know, I also had my Boxster totaled and bought back the damaged car.

The insurance company could care less about IMS. All they care about is what the car might bring at the salvage auction because that is where your car is going if you don't buy it back.

With that being said, the going rate for a totaled car is around $3K - about the same as a Boxster with a blown engine.

With that as a starting point, submit receipts for any substantial work that you had done within the previous 6 months.

Then start negotiating. Good luck. PM me if you have any add'l questions.

[TeamOxford]

Originally Posted by Timco

First boast about the glass window (claim), then downplay it to the same company (buy back). Love it. Just print a few IMS threads to give to the buy back dept.

Jake,

Wake up, dude. Timco was being facetious in this post, and I, for one, agree with him.

You're trying to burn the candle on both ends; on end you're ready to pitch the elevated value of your $6K Boxster because of the glass window, hoping for a $10K-$11K settlement, and on the other end you're petitioning for advice on how to pitch an undervalued worth of your car.

Stinks of greed, no other term for it.

Talk to your Dad. That's what he's here for.

Just sayin'............

TO

[BIGJake111]

Originally Posted by thstone

As you know, I also had my Boxster totaled and bought back the damaged car.

The insurance company could care less about IMS. All they care about is what the car might bring at the salvage auction because that is where your car is going if you don't buy it back.

With that being said, the going rate for a totaled car is around $3K - about the same as a Boxster with a blown engine.

With that as a starting point, submit receipts for any substantial work that you had done within the previous 6 months.

Then start negotiating. Good luck. PM me if you have any add'l questions.

Oh I know it won't affect salvage value, the ims inquiry was for replacement value


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[BIGJake111]

Originally Posted by TeamOxford

Jake,

Wake up, dude. Timco was being facetious in this post, and I, for one, agree with him.

You're trying to burn the candle on both ends; on end you're ready to pitch the elevated value of your $6K Boxster because of the glass window, hoping for a $10K-$11K settlement, and on the other end you're petitioning for advice on how to pitch an undervalued worth of your car.

Stinks of greed, no other term for it.

Talk to your Dad. That's what he's here for.

Just sayin'............

TO

A being made whole is separate from greed, looking at autotrader I need 10 to 11 to get a similar car, that is without the 8k worth of Maintenance and addons done to my car in recent years. I'm not asking for 8k to replace that but it honestly is only fare that I be made whole when someone else destroyed my pride and joy. On the apposing end with getting the salvage car back cheap, that is for the sake of seizing and opportunity to make money and contribute selling parts or a parts car to people here for a fair price, in that case, everyone wins.


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[cfos]

Originally Posted by BIGJake111

... only fare...


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And that is the life lesson. There are no "fare" police. There are only days you are at a loss, break even, or go ahead. And if you think about it, if you come out ahead, is that fair? I'm sure you don't consider a loss as being fair, do you? Well, in order for you to come out ahead, someone has to come out at a loss. You can't agree with being ahead and then complain about being fair. There is a reason Thomas More's Utopia is a work of fiction.

[BIGJake111]

Originally Posted by cfos

And that is the life lesson. There are no "fare" police. There are only days you are at a loss, break even, or go ahead. And if you think about it, if you come out ahead, is that fair? I'm sure you don't consider a loss as being fair, do you? Well, in order for you to come out ahead, someone has to come out at a loss. You can't agree with being ahead and then complain about being fair. There is a reason Thomas More's Utopia is a work of fiction.

Am i asking to come ahead? As i said the boxsters in my area selling for 10k to 12k, the only car for 6k has severe water damage....

I do appreciate your more tame response, and i see your point, but any "Coming out ahead" will be from me capitalizing on the option to buy the salvage car, any padding to the car i purchase will come from this. A fairly fair way for everyone to win. If you do suppose that coming out ahead for me is unfair for someone, I would like to know who, 1k extra out of the insurance company still is nothing compared to what people pay into insurance every year and never take a claim out on. It doesn't hurt the other individual of the accident at all, as his rates go up regardless. I am trying to provide a parts boxster for a cheaper price to whomever i sell it to, that's fair.

[shadrach74]

There is a lot of karmic crap being thrown around on this thread. If someone totals your car then they or their insurance company is obliged to make you whole. Anyone who's ever been in a total loss situation, understands that it's kind of a subjective situation especially with older high mileage cars. In a situation like this you have no choice but to look out for you best interest. It's a negotiation...period...you try to maximize your settlement and the insurance company tries to minimize their cost. That's it, you do your job and they'll do theirs.

Submit comps for other similar cars, submit copies of any receipts for recent MX.

You don't get to negotiate salvage value in most cases. They name their number. That's it.. Take it or leave it.

Don't make this harder than it is.

The folks here criticizing you for being "greedy" apperantly place no value on a known quantity over an unknown quantity. That is an ignorant and nieve way of looking at this situation. Any car you buy as a replacement is an unknown quantity and that means greater risk of repair or failure. You need to do everything you can to mitigate that.

[BIGJake111]

Originally Posted by shadrach74

There is a lot of karmic crap being thrown around on this thread. If someone totals your car then they or their insurance company is obliged to make you whole. Anyone who's ever been in a total loss situation, understands that it's kind of a subjective situation especially with older high mileage cars. In a situation like this you have no choice but to look out for you best interest. It's a negotiation...period...you try to maximize your settlement and the insurance company tries to minimize their cost. That's it, you do your job and they'll do theirs.

Submit comps for other similar cars, submit copies of any receipts for recent MX.

You don't get to negotiate salvage value in most cases. They name their number. That's it.. Take it or leave it.

Don't make this harder than it is.

The folks here criticizing you for being "greedy" apperantly place no value on a known quantity over an unknown quantity. That is an ignorant and nieve way of looking at this situation. Any car you buy as a replacement is an unknown quantity and that means greater risk of repair or failure. You need to do everything you can to mitigate that.

Thank you, and yes a large majority of vehicles i am looking at buying have yet to have their AOS or waterpump inevitably fail, which was already fixed on my vehicle when i bought it. Thank you for the information on the salvage car.

[shadrach74]

Originally Posted by cfos

And that is the life lesson. There are no "fare" police. There are only days you are at a loss, break even, or go ahead. And if you think about it, if you come out ahead, is that fair? I'm sure you don't consider a loss as being fair, do you? Well, in order for you to come out ahead, someone has to come out at a loss. You can't agree with being ahead and then complain about being fair. There is a reason Thomas More's Utopia is a work of fiction.

The insurance company is paying out because their client pulled out in front of another vehicle collide with it and caused damages. It's an outcome they plan for and is underwritten into the premium. You have no idea if the insurance company "lost" on this policy or not. For everything that went wrong in this situation, the payout is relatively minor.

[cfos]

Originally Posted by BIGJake111

Am i asking to come ahead? As i said the boxsters in my area selling for 10k to 12k, the only car for 6k has severe water damage....

... If you do suppose that coming out ahead for me is unfair for someone, I would like to know who, 1k extra out of the insurance company still is nothing compared to what people pay into insurance every year and never take a claim out on. It doesn't hurt the other individual of the accident at all, as his rates go up regardless. I am trying to provide a parts boxster for a cheaper price to whomever i sell it to, that's fair.

Insurance companies aren't nonprofits, and let's face it, we are only hearing one side of the story. I really don't know what is fair in this situation; however, I think it is a wrong to hold an opinion that "big companies" should always take a mulligan and pay out because they are perceived as "big" and can absorb the hit - and, for your information, people who do as you claim - pay in and make no claims - often see their rates rise (usually, as is often claimed, their costs increase due to, oh I don't know... The number of claims made in the given zip code which translates to higher rates for the area). So, one could argue that those people who pay in, yet make no claims, may have increased rates to compensate for people like you who do have accidents and generally make the cost of insuring everyone in the area more expensive... Which isn't exactly fair, but I digress as this is just me free-thinking and isn't based on facts, which you can relate to, yes?

As a parent, I wouldn't want to dedicate garage space to the wreck or have it in the yard as an eyesore for my kids or the other homes in the neighborhood... But I try to keep things classy Out of curiosity, what do your parents think? Have you told them of your burgeoning parts business?

[BIGJake111]

Originally Posted by cfos

people like you who do have accidents

As a parent, I wouldn't want to dedicate garage space to the wreck or have it in the yard as an eyesore for my kids or the other homes in the neighborhood... But I try to keep things classy Out of curiosity, what do your parents think? Have you told them of your burgeoning parts business?

I would never wish a bronco to hit a 981, but i just came close.

And for the second part, my parents are entirely happy with me buying back the salvage (if the price is right) same as me, and if the price is right, i already have a buyer, the car will be hauled by a wrecking company i know the owner of to north carolina the day i head up to buy my next boxster which i have already contacted the seller of and have plans of likely buying. The unclassy salvage will be out of the yard in no time, you remind me of me this is why we don't get along, I am okay with that.

[rdass623]

just see what the adjuster is willing to sell it back to you for. if it seems high, make a counter offer which you feel is reasonable. I did a buyback on a truck of mine which was totaled and was more than satisfied with the offered price, which was about 10% of what would have been wholesale for the vehicle. you just need to play it by ear and weigh your options. the car if kept by the insurance company will go to auction, and that is a crap shoot on what they will get, and there are transport fees, auction fees, time lapses for getting their money, etc. which they will need to deal with...

[steved0x]

My son was worried when his Miata got totaled (other driver's fault). We had just put new tires on it and had done a lot of work to it. They ended up giving us $3500 for it, and we were happy. I just told the adjuster what I wanted and didn't back down. It was easier because the other driver was at fault. The $3500 was the cheapest part of that claim anyway, even the minor injuries, x-rays, etc. came to way more than $3500. (Just bumps, bruises, sprains, etc...). The insurance company is way ahead on this one, imagine if you had broken a bone in the accident? That one thing alone would exceed the value of the car.

I would keep in mind I bet it is a lot of hassle to part out a car. I didn't even consider doing it for a second with the Miata. There are a million of them. Our cars on the other hand, I would consider parting mine if it ever got totaled. Our parts seem to go for a lot more

If you have room then I would say go for it. DOn't offer too much. Maybe when they are approaching a number you like for the value, say you will take that plus the salvage. Maybe they will be glad to be done with it give it to you. I wouldn't feel like you were cheating anybody if you get a good deal on it.

PS I want dibs on your back underbody tray and the small side one, if they aren't all scraped up.

[BIGJake111]

Originally Posted by steved0x

My son was worried when his Miata got totaled (other driver's fault). We had just put new tires on it and had done a lot of work to it. They ended up giving us $3500 for it, and we were happy. I just told the adjuster what I wanted and didn't back down. It was easier because the other driver was at fault. The $3500 was the cheapest part of that claim anyway, even the minor injuries, x-rays, etc. came to way more than $3500. (Just bumps, bruises, sprains, etc...). The insurance company is way ahead on this one, imagine if you had broken a bone in the accident? That one thing alone would exceed the value of the car.

I would keep in mind I bet it is a lot of hassle to part out a car. I didn't even consider doing it for a second with the Miata. There are a million of them. Our cars on the other hand, I would consider parting mine if it ever got totaled. Our parts seem to go for a lot more

If you have room then I would say go for it. DOn't offer too much. Maybe when they are approaching a number you like for the value, say you will take that plus the salvage. Maybe they will be glad to be done with it give it to you. I wouldn't feel like you were cheating anybody if you get a good deal on it.

PS I want dibs on your back underbody tray and the small side one, if they aren't all scraped up.

I like your idea about the that plus the salvage, and as i said i will likely sell the car total for someone else to part out, could definitely make money, and i do have all summer, but i have found a car that i am interested in buying that i do not want to pass up on. I know the general rules are to not buy on impulse with these cars, but this one is so good i refuse to post it to the forum in worries that someone will go snatch it up before i can :P And yes i am very greatful that no one was hurt in my accident, really it should never have been a situation where my car would be totaled (apprently the bronco is too because its worth nothing) but its better to have a totalled car than to have a hurt body. Thank you for your advice.

[Timco]

The way I understand it, the ins company does not owe you another Boxster base 2.5 with glass window. They owe you exactly what your car was worth. If another Boxster (any) costs more, that's your problem. If you paid less than what they deem your car to be worth then yes, you come out ahead.