Totaled Boxster

[vduvall]

My 2002 Boxster Convertible was recently in a rear-end collison . The insurance company is declaring it a total lose. The car still drives and previous to the collision was in good/excellent condition. Are there any brokers out there that would like to purchase it for parts.

[bigb]

Originally Posted by vduvall

My 2002 Boxster Convertible was recently in a rear-end collison . The insurance company is declaring it a total lose. The car still drives and previous to the collision was in good/excellent condition. Are there any brokers out there that would like to purchase it for parts.

If you want to keep it, see if you can buy it for cheap from the insurance company (after getting your payout, of course), then get it fixed on your own (assuming it is fixable). You won't be able to easily sell such a vehicle, but if you know there was no engine damage and the car is fixable, then it would be a cheaper way to keep driving a boxster than the alternatives. Just my 2cents.

[vduvall]

wouldn't it be considered a salvage and uninsurable?

[David N.]

Salvage title doesn't mean uninsurable (although in a way it should). Did the airbags go off?

BTW, was the accident in any way rain-related? I noticed you are in CA, and we got slammed pretty hard last night.

-David

[j.fro]

track car!!

[blueillusion97]

Originally Posted by j.fro

track car!!

+1 .

[Kirk]

Originally Posted by bigb

...it would be a cheaper way to keep driving a boxster than the alternatives. Just my 2cents.

I disagree... I live in California and my motorcycle just got totaled in May. Insurance law in this state says they have to pay you what the EXACT same car/bike would cost if you bought it used. If the car is a total loss, then the insurance company determined it's more expensive to fix it than to just buy a replacement. Why would you then want to buy the salvage car and try to fix it? Maybe you could cut some corners and save some money, but in the end you'd spend close to the replacement cost, have a car with a salvage title, and it may never be quite right. When the insurance company offered to sell me my salvaged bike, I told them to shove it and took the money - more than enough to buy a bike just like it that's never been wrecked. I'd prefer the peace of mind knowing that everything is straight and in good order with a newer, un-wrecked vehicle. Just my 2 cents too....

[Cloudsurfer]

Yes, you will have a salvage title. Some states will require you to have it inspected after repairs to be considered road worthy, at which point the title will read "rebuilt salvage." Yes, it is hard to sell cars like this, but if you want it for your own good, you can make out very well if you know the damage was only cosmetic.

Your car is likely worth about $15k, say damage was $7k, you buy it back from for $2k or $3k, get it fixed for hopefully $5k, and for $7k now you have a new Boxster, albeit one that was salvaged.

Worth looking into if you know the car was good before, and you plan to keep it for a while.

Patrick

[racer_d]

While there is likely an emotional attachment to the now wrecked car, take the payoff and go get another one. If you have the room and luxury of time, you might consider buying it back and parting it out yourself. Not sure how many broker/dismantlers are on the board.

[mikefocke]

will, as part of the "totaling" process, sell the car to a company that handles that process and the car will ultimately end up at a dismantelers. The company that handles the totaling will bid it out and the dismantelers will bid based on pictures and the insurance company report.

Been there, done that.

Read here for more info on the totaling process .

There is a list of about a dozen dismantelers who specialize in Porsches on the web site also. Poke around.

[bigb]

Originally Posted by Kirk

I disagree... I live in California and my motorcycle just got totaled in May. Insurance law in this state says they have to pay you what the EXACT same car/bike would cost if you bought it used. If the car is a total loss, then the insurance company determined it's more expensive to fix it than to just buy a replacement. Why would you then want to buy the salvage car and try to fix it? Maybe you could cut some corners and save some money, but in the end you'd spend close to the replacement cost, have a car with a salvage title, and it may never be quite right. When the insurance company offered to sell me my salvaged bike, I told them to shove it and took the money - more than enough to buy a bike just like it that's never been wrecked. I'd prefer the peace of mind knowing that everything is straight and in good order with a newer, un-wrecked vehicle. Just my 2 cents too....

Yup, doing the math always helps, and you are correct -- if the price of the wrecked car + cost to fix is anywhere in the ballpark of another car of similar age/miles, you are much better off just taking the payout from the insurance company and buying the new car.

My example for buying the wrecked car would've been something like : $20k payout from the insurance company, $4k to buy the wreck, $6k to fix, $10k savings for a car you know well enough to keep for a long time. Of course, the assumption here is that the $6k to fix figure is much less than what the insurance company thought it was going to pay, because (say) you get a great deal from a local shop (as opposed to going through the dealership), and/or you get some savings (e.g. reconditioned bumper instead of new).

Just wanted to make the OP aware of the options. Good luck