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Punk in a truck put my S4 on life support...

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Old 01-02-2008, 05:04 PM
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Shark Attack
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Originally Posted by Jim bailey - 928 International
The reason insurance companies often total cars on the initial estimate at 50-70 % is there are ALWAYS suppliments additional hidden damages costs NOT covered on the initial estimate....so they have in the past ended up paying more for the car to fix it than they could have simply settled as totaled. Plus they have the salvage value and avoid things like rental car costs while the damaged car is at the shop. It varies by insurance company but they all have a % threshold where they opt to punt , cash out and be done with it. Especially with Porsche cars and Porsche Owners who tend to be very particular about how the car is fixed. They have also had issues with "diminished value" getting tagged by owners who rightly insist that a repaired repainted Porsche is not worth as much as a car with a clean car fax and no such repair. The only leverage comes from the ???? of personal injury.... that is probably enough said about that.
PLUS this formula

So if your car is worth 10000.00
your damage is 8000.00
salvage is worth 3000.00
they give you 10K
sell the car for 3K
their net loss is 7K

and all these used parts houses are crying everytime I talk to them of how much they are having to pay for these salavage cars. So I assume they are pulling good money even as salvage.
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Old 01-02-2008, 05:15 PM
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Candleman
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They totaled it.
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Old 01-02-2008, 05:16 PM
  #33  
Jim bailey - 928 International
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Now the "fun" begins...
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Old 01-02-2008, 06:53 PM
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Are any of you familiar with the following cars?:

http://www.autotrader.com/fyc/vdp.js...0&cardist=2183

http://cgi.ebay.com/ebaymotors/1988-...QQcmdZViewItem
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Old 01-02-2008, 06:59 PM
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Originally Posted by Jim bailey - 928 International
The reason insurance companies often total cars on the initial estimate at 50-70 % is there are ALWAYS suppliments additional hidden damages costs NOT covered on the initial estimate.
Although the insurance companies even made mention that there could be hidden damage that would total the car, they didn't handle it this way in my cases. They pursued the repair with the shop until it became clear the repair cost was going to be very close to cash value, and then it was totaled. Seems a little clumsy, but that happened in two different cases.

But I see that is now irrelevant in this case.
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Old 01-02-2008, 07:03 PM
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Originally Posted by Candleman
The first car is the subject of a thread here already. Some people local the Laguna Beach have said they might go look at it.
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Old 01-02-2008, 07:04 PM
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Originally Posted by Candleman
They totaled it.
That was a bit too fast for my comfort. It's likely they went to KBB, saw the low value and concluded it was a no-brainer to total it. Argh.

They haven't made you an offer have they?? Since your car looks so darn nice, find out what they want for salvage. It might actually be fixable for a reasonable amount or worth a heck of lot more in parts.
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Old 01-02-2008, 07:07 PM
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The Black one says "needs TLC" which usually means "things seem to be falling apart lately".

The silver one has a lot of aftermarket stuff including a huffer which arguably means the engine has been thrashed. In any event the owner says it needs a paint job which, if done right, will run 8k to 10k.

These are not necessarily my opionions of these cars, but certainly how I would characterize them to the insurance company if they are trying to suggest this is an indication of the value of yours.
Last edited by Charley B; 01-02-2008 at 07:09 PM. Reason: missing word
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Old 01-02-2008, 07:08 PM
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A lot depends on the skills , judgement and experience of the adjuster. They try to avoid getting "pot committed" and be compelled to "stay the course" as repair suppliments keep adding up. Good luck with the negotiations on the actual cash value.
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Old 01-02-2008, 07:11 PM
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Somebody here should know the one with the Stage 1 Vortech.
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Old 01-02-2008, 07:13 PM
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The Insurance company will pull adds like this...."1989 PORSCHE 928 S4 - $8500

--------------------------------------------------------------------------------
Reply to: sale-483925081@craigslist.org
Date: 2007-11-19, 2:39PM PST


1989 PORSCHE 928 S4 BURGUNDY/TAN, AUTOMATIC, CARFAX CLEAN ONE OWNER CALIFORNIA CAR, FULL LEATHER SEATS, POWER EVERYTHING, FOR APPOINTMENT PLEASE CALL (949)735-5370 " .............
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Old 01-02-2008, 07:26 PM
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One tactic may be to say "I'll take that car if you will commit to paying for the items necesary to bring it to the condition of my original one". Yours looked to be in exceptional condition.
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Old 01-02-2008, 07:34 PM
  #43  
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There is no "I'll take that car ...." the insurance company is NOT required to buy a replacement just simply to pay you the actual cash value.... what is "should" cost to buy a similar car. And as far as they are concerned it is just another used car !
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Old 01-02-2008, 07:41 PM
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Originally Posted by Jim B
the insurance company is NOT required to buy a replacement just simply to pay you the actual cash value....
Of course you're right. But I think it is arguable that the value of a 120k mile used car needing paint, requires some adjustment to replace a 75k mile used car with a fairly new paint job. etc. etc.
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Old 01-02-2008, 07:48 PM
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Originally Posted by Jim bailey - 928 International
The Insurance company will pull adds like this...."1989 PORSCHE 928 S4 - $8500

--------------------------------------------------------------------------------
Reply to: sale-483925081@craigslist.org
Date: 2007-11-19, 2:39PM PST


1989 PORSCHE 928 S4 BURGUNDY/TAN, AUTOMATIC, CARFAX CLEAN ONE OWNER CALIFORNIA CAR, FULL LEATHER SEATS, POWER EVERYTHING, FOR APPOINTMENT PLEASE CALL (949)735-5370 " .............
Good, because KBB is much higher than that. In fact, I think KBB is pretty much on the money in this case. Mileage, condition and location are factors.

Retail Value
89 S4 72K miles, standard equipment
Excellent condition
West Coast Zip: $15,775
East Coast Zip: $13,600
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