Lets Discuss Boxster Pricing

[BIGJake111]

Originally Posted by My_Name_is_Dan

It has always been my rule that one shouldn't pay no more than NADA pricing on any vehicle. The justification for this is is mainly from an insurance perspective. If you buy a vehicle for $15K and it is worth $12K and you have an accident and the car is a total loss, the insurance company is only going to pay up to NADA retail (maybe). So, you just lost $3K right off the bat.

I had a Boxster totaled, I was very pleased to find that the insurance company did not go by book values, rather they based the replacement value off of similar cars within the area with similar options. Due to small selection they were willing to compare cars a few years newer and also with around 30k less miles.

Others may not have the same luck, but I was very worried that they would offer absolute bottom dollar and was pleased when that wasn't the case.

[My_Name_is_Dan]

Originally Posted by BIGJake111

I had a Boxster totaled, I was very pleased to find that the insurance company did not go by book values, rather they based the replacement value off of similar cars within the area with similar options. Due to small selection they were willing to compare cars a few years newer and also with around 30k less miles.

Others may not have the same luck, but I was very worried that they would offer absolute bottom dollar and was pleased when that wasn't the case.

You were lucky. Down here in the heart of Dixie, things are different. Both Alfa and State Farm will only give you up to NADA, nothing more. I just called my agent to confirm. Now, if you have uber expensive wheels that are not standard, they will take that into account and may fudge some more depending on mileage and condition (how in the hell are they going to determine condition if it totaled is beyond me..)

[BIGJake111]

Originally Posted by My_Name_is_Dan

You were lucky. Down here in the heart of Dixie, things are different. Both Alfa and State Farm will only give you up to NADA, nothing more. I just called my agent to confirm. Now, if you have uber expensive wheels that are not standard, they will take that into account and may fudge some more depending on mileage and condition (how in the hell are they going to determine condition if it totaled is beyond me..)

We have progressive coverage in South Carolina. The accident was full fault on the other driver, who also had progress vie. They went as far as considering that the replacement car would need to have memory seats to match the option being fitted on the totaled car. The settlement was upwards of 4k over blue book value for the totaled car. Now to reach the settlement wanted it did take some haggling and compilation of similar cars as well as documentation of recent service and a recipt for a glass top, however I honestly do not think much of this helped and regardless the first settlement before haggling was still over blue book by around 2K.

NADA value could never replace a boxster as they almost always sell for (or are at least listed for) several grand over book value.

[particlewave]

Originally Posted by My_Name_is_Dan

You were lucky. Down here in the heart of Dixie, things are different. Both Alfa and State Farm will only give you up to NADA, nothing more. I just called my agent to confirm. Now, if you have uber expensive wheels that are not standard, they will take that into account and may fudge some more depending on mileage and condition (how in the hell are they going to determine condition if it totaled is beyond me..)

No, wrong. With your insurance company, things are different. It has nothing to do with your location.

Also, NADA means just that; nada. You'll pay a compromise between what you and the seller think is fair.

[Gelbster]

You can eliminate a lot of wordy nonsense by just checking EBay "Sold Listings" for your particular car preference.Pay particular attention to those cars sold 'no reserve' .
The interesting aspect is how/why these few ,hard data points differ from Nada/Blue/Edmunds valuations. Data vs. guestimates vs endowment, take your pick.

[BYprodriver]

Originally Posted by My_Name_is_Dan

You were lucky. Down here in the heart of Dixie, things are different. Both Alfa and State Farm will only give you up to NADA, nothing more. I just called my agent to confirm. Now, if you have uber expensive wheels that are not standard, they will take that into account and may fudge some more depending on mileage and condition (how in the hell are they going to determine condition if it totaled is beyond me..)

2 weeks ago I called my State Farm agent to inform them I was considering buying a CA salvage/rebuilt title 2015 Lexus GS-F, & ask how they would determine value if it was totaled. I was told State Farm will seek out similar vehicles for sale locally & base the value by averaging current prices. In my case when the vehicle has a salvage title they base value from the lowest priced comp's.

[Chuck W.]

Originally Posted by BYprodriver

2 weeks ago I called my State Farm agent to inform them I was considering buying a CA salvage/rebuilt title 2015 Lexus GS-F, & ask how they would determine value if it was totaled. I was told State Farm will seek out similar vehicles for sale locally & base the value by averaging current prices. In my case when the vehicle has a salvage title they base value from the lowest priced comp's.

At one time, I was buying damaged cars and fixing them up to be driven. They all had California Salvage titles. I had an Audi S4, a Porsche 993 cab and BMW 530I. The kids had three VW Passats and an Audi A4. Two of the Passats, the Audi and BMW were all totaled in traffic accidents. State Farm treated all of the cars as if they had clean titles. They paid more on the cars than (IMHO) I could have ever sold them for.

[thstone]

Originally Posted by BIGJake111

I had a Boxster totaled, I was very pleased to find that the insurance company did not go by book values, rather they based the replacement value off of similar cars within the area with similar options.

When my first Boxster was totalled while parked, I had a similar experience as Jake with my insurance company (other party at fault was vastly underinsured) where they determined the value of my car from comparable vehicles (similar to how its done in real estate). The NADA or Blue Book values never came into play.

[itsnotanova]

I can only comment on what I see insurance companies value wrecked boxsters at. The price can vary by almost $10,000 on what they value a similar condition boxster at. I think it has to do a lot with the agent filling out the paperwork. The variations in price happens a lot more on base boxsters. I think the agent might be getting the values of an S boxster and a base confused. I've also noticed that location will affect the value sometimes. Generally speaking, values in California are the least and then followed by Florida, Colorado and Texas. It also seems like the poor states value them higher.