Front End Damage - How Bad Is It?

[piper6909]

Originally Posted by Lowski

So I have been dealing with the insurance company over the last few days.

The first estimate I got was using their online APP. I took the required pictures and sent them in. They came back with and estimate around $4,000. This included a used hood and a used R/H light assembly. They had the bumper cover as a repair instead of replacement. The estimated hours for paint and straightening bent metal looked way low.

I didn't like the first estimate so I went to the local body shop which is also a Porsche Approved repair facility. Their estimate with all new OEM parts, frame measurement and alignment, plus all the paint blending came to around $11,000. Now I know this is the body shop wanting the biggest pay out they can and not the most economical way to fix the car.

I submitted the body shop estimate to the insurance company and they came back with a total loss offer for a base 99 with little to no options and 80,000 miles on the clock.

1. Surrender Vehicle:
Actual Cash Value/Base Price $8,938.00 Plus: Sales Tax $929.55
Unused License Fees $31.00 + Registration Fees $14.30
Less: Deductible $250.00
Settlement Amount $9,662.85

2. Retain Vehicle:
Actual Cash Value/Base Price $8,938.00
Less: Retained Salvage Value $1,820.00
Plus: Sales Tax $929.55 + License fees 31.00 + Registration Fees $14.30
Less: Deductible $250.00
Settlement Amount $7,842.85

So I have a decision to make.

I bought the car 3 years ago for $6,800. I have maybe put a $1000 in for the MAF, Coolant Tank and other general maintenance items. I have upcoming maintenance items plus original items such as front engine mount, water pump, AOS, clutch, cracked rear window and IMS that will need to be addressed in the future.

I am inclined to surrender the vehicle. If I were to try and sell it before the accident I would have be happy with a $8900 sale. Plus the surrender offer refund my sales tax which is big chunk of change.

If I buy it back for $1800 I still have to put 1-2K into it to fix it, my time to find all the parts and a body shop to straighten it. Plus I take a value hit with a salvage title and I may have issues getting insurance in the future. If it all works out I end up with approx. $4k Boxster that I know the history of. Tempting....

The other option is trying to buy it back cheaper that $1800 if it goes to local auction, but that a long shot.

Putting emotions aside let's here what you guys think.

So if you go with option 2, you'd get around 7800 for a car that you already have around 7800 into. So that's a wash, if I understood correctly, and you basically got a wrecked car for free. Then you'd spend around 2K to fix it and you'd have a 4K boxster for 2K, if you don't mind a branded title.