Buy car back from insurance or let it go?
#31
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I'm located in Chicago.
I have a stack of maintenance records for the car in about a hlaf inch thick folder. The engine ran excellent. Timing belt was replaced at 78k.
I've been talking with my dad and am leaning towards just getting rid of the car and getting the 9,800. Time and space will be an issue with parting out the car and I do not have the proper tools to remove an engine or transmission from the car.
I have a stack of maintenance records for the car in about a hlaf inch thick folder. The engine ran excellent. Timing belt was replaced at 78k.
I've been talking with my dad and am leaning towards just getting rid of the car and getting the 9,800. Time and space will be an issue with parting out the car and I do not have the proper tools to remove an engine or transmission from the car.
#32
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I'm located in Chicago.
I have a stack of maintenance records for the car in about a hlaf inch thick folder. The engine ran excellent. Timing belt was replaced at 78k.
I've been talking with my dad and am leaning towards just getting rid of the car and getting the 9,800. Time and space will be an issue with parting out the car and I do not have the proper tools to remove an engine or transmission from the car.
I have a stack of maintenance records for the car in about a hlaf inch thick folder. The engine ran excellent. Timing belt was replaced at 78k.
I've been talking with my dad and am leaning towards just getting rid of the car and getting the 9,800. Time and space will be an issue with parting out the car and I do not have the proper tools to remove an engine or transmission from the car.
#33
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I sure am glad you posted this. It lit a fire under my but to get actions from my Ins co. I had a claim from feb of 07, the were going to total my car and send me a check for around 5k. I was so insulted. I had even sent a evaluation form from PCA.
Anyway I left an direct message yesterday stating that state farm was doing a better job and if need be I would hire an attorny and switch Ins co. Then started barking up the corperate tree. Today I get a call and all is resolved. So it looks like a new paint job will finally be on the way.
Thanks again for posting,
Steve
Anyway I left an direct message yesterday stating that state farm was doing a better job and if need be I would hire an attorny and switch Ins co. Then started barking up the corperate tree. Today I get a call and all is resolved. So it looks like a new paint job will finally be on the way.
Thanks again for posting,
Steve
#34
Race Director
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It all depends on the frame work. If it is needed and how much. Anything in front of the strut towers is not critical. Once it gets behind them your suspension mounting could be impacted.
#35
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I would be tempted to buy it back and upgrade all the damaged parts.
Take the fenders off and have the frame fixed first.
Then add a carbon fiber front fenders, hood and vented nose panel.
Maybe some of those trick headlights.
The steering wheel can be upgraded to a more modern Porsche wheel and have the dash recovered in real leather.
FWIW the car will only end up with a salvage title if you sell it to the insurance company. If you keep the title then it only goes down as an accident repair.
Take the fenders off and have the frame fixed first.
Then add a carbon fiber front fenders, hood and vented nose panel.
Maybe some of those trick headlights.
The steering wheel can be upgraded to a more modern Porsche wheel and have the dash recovered in real leather.
FWIW the car will only end up with a salvage title if you sell it to the insurance company. If you keep the title then it only goes down as an accident repair.
#36
Race Car
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BTW, I have also had an excellent experience totaling a car with State Farm Insurance. I had a bunch of recent receipts, including a clutch job by a mechanic, and the claims adjuster simply added the cost of the clutch job as part of the claims settlement. Great company to total a car with.
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Oh, and glad to see that the airbags still worked after 22 years! I was wondering if those things were still good....
#37
Burning Brakes
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Ditto on what Cole said. Don't mess with eBay used fenders, as although they may be OK when they leave the seller, there's a good chance of damage enroute.
Otherwise, much of the damaged area is bolt-on parts. For what they're paying you, all of this can be economically replaced, including a new paint job. Try and keep the title non-salvage, though.
Otherwise, much of the damaged area is bolt-on parts. For what they're paying you, all of this can be economically replaced, including a new paint job. Try and keep the title non-salvage, though.
#38
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Parting takes time (what's your time worth?) and space (got an off-street parking for wrenching?). If you have both, then parting will get you some money.
Even if you're lacking time or space, you can buy it back and immediately sell it to someone as a parts car. With a complete drivetrain, I'm sure someone will give you at least $2k or more.
Even if you're lacking time or space, you can buy it back and immediately sell it to someone as a parts car. With a complete drivetrain, I'm sure someone will give you at least $2k or more.
BUT, after parting it out, I made well over $6k, I'd wager. I could've made more, but I chose to bring a number of parts over to the new car.
#39
Drifting
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Wrecked my '91 S2 and did less damage to my car. Had 80k miles on it. Insurance was willing to give me close to 12k for the car (and I would get to keep the wheels, hatch, exhaust and Saratoga top). Or I could get the car AND a check for $8700 after deductible.
Getting the car back has been the best decision ever. I got my 951 out of the deal (bought with the check and a little cash). It's been a year and half since my wrecked and my S2 appears as if nothing ever happened. Including the buy back, I have right around 5k dollars into my S2 now. Insurance had me smelling like a rose!
Whatever you do, do NOT just give them the car. Get the car and a check and someone here will take it off your hands to make it a track car or the like. Trust me. Been there done this.
I have state farm as well. Their payback is generally very nice!
Getting the car back has been the best decision ever. I got my 951 out of the deal (bought with the check and a little cash). It's been a year and half since my wrecked and my S2 appears as if nothing ever happened. Including the buy back, I have right around 5k dollars into my S2 now. Insurance had me smelling like a rose!
Whatever you do, do NOT just give them the car. Get the car and a check and someone here will take it off your hands to make it a track car or the like. Trust me. Been there done this.
I have state farm as well. Their payback is generally very nice!
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#40
Rennlist Member
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FWIW the car will only end up with a salvage title if you sell it to the insurance company. If you keep the title then it only goes down as an accident repair.
This is not correct. It will have a salvage title or salvage history.
This is not correct. It will have a salvage title or salvage history.
#41
Three Wheelin'
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I would be tempted to buy it back and upgrade all the damaged parts.
Take the fenders off and have the frame fixed first.
Then add a carbon fiber front fenders, hood and vented nose panel.
Maybe some of those trick headlights.
The steering wheel can be upgraded to a more modern Porsche wheel and have the dash recovered in real leather.
FWIW the car will only end up with a salvage title if you sell it to the insurance company. If you keep the title then it only goes down as an accident repair.
Take the fenders off and have the frame fixed first.
Then add a carbon fiber front fenders, hood and vented nose panel.
Maybe some of those trick headlights.
The steering wheel can be upgraded to a more modern Porsche wheel and have the dash recovered in real leather.
FWIW the car will only end up with a salvage title if you sell it to the insurance company. If you keep the title then it only goes down as an accident repair.
87951
95sl320 dd
#42
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Wrecked my '91 S2 and did less damage to my car. Had 80k miles on it. Insurance was willing to give me close to 12k for the car (and I would get to keep the wheels, hatch, exhaust and Saratoga top). Or I could get the car AND a check for $8700 after deductible.
Getting the car back has been the best decision ever. I got my 951 out of the deal (bought with the check and a little cash). It's been a year and half since my wrecked and my S2 appears as if nothing ever happened. Including the buy back, I have right around 5k dollars into my S2 now. Insurance had me smelling like a rose!
Whatever you do, do NOT just give them the car. Get the car and a check and someone here will take it off your hands to make it a track car or the like. Trust me. Been there done this.
I have state farm as well. Their payback is generally very nice!![Smilie](https://rennlist.com/forums/images/smilies/smile.gif)
Getting the car back has been the best decision ever. I got my 951 out of the deal (bought with the check and a little cash). It's been a year and half since my wrecked and my S2 appears as if nothing ever happened. Including the buy back, I have right around 5k dollars into my S2 now. Insurance had me smelling like a rose!
Whatever you do, do NOT just give them the car. Get the car and a check and someone here will take it off your hands to make it a track car or the like. Trust me. Been there done this.
I have state farm as well. Their payback is generally very nice!
![Smilie](https://rennlist.com/forums/images/smilies/smile.gif)
87951
95sl320 dd
#43
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I have been envolved in this process a couple of times.
If the insurance company only pays you out on the car and you keep it. (title never changes hands) the title stays clean. It is not "Salvage"
If the insurance company takes the car(and the title) when it is sold at auction the new title ends up as "Salvage".
The rules may differ in some states I suppose.
Also, in Colorado for example. If the car is more than 10 years old they drop the "salvage" on the title anyway. It will still show up on a carfax, but the title itself is clean.
#44
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I would either let it go or buy it and sell it wrecked for a profit. Here's why- I have a very nice 951 in near perfect condition and cannot find a buyer for $8500. With a salvage title you will be close to that in the repair..
think about it- lights, fogs, Aarms, fender, hood, cover, windshield (which is a BITCH) Bags, door possibly some work, paint alone is going to be $2k to match that year red and a salvage title will only bring $6500-7500 IMHO.... imagine that you probally will have to paint the whole car- been there done that!!!!
Track car yeah.. street restore maybe not- take the money and run or sell wrecked and run- I'll give you $2500 wrecked sight unseen. I have 3 cars I can use the parts for and sell the rest- but I have a big garage and completely dismantled 951s and 968 before.
I have parted 5 cars over the years. With the room you can come out ahead but it is VERY time consuming.
Wish you the best- Cheers, Mike
think about it- lights, fogs, Aarms, fender, hood, cover, windshield (which is a BITCH) Bags, door possibly some work, paint alone is going to be $2k to match that year red and a salvage title will only bring $6500-7500 IMHO.... imagine that you probally will have to paint the whole car- been there done that!!!!
Track car yeah.. street restore maybe not- take the money and run or sell wrecked and run- I'll give you $2500 wrecked sight unseen. I have 3 cars I can use the parts for and sell the rest- but I have a big garage and completely dismantled 951s and 968 before.
I have parted 5 cars over the years. With the room you can come out ahead but it is VERY time consuming.
Wish you the best- Cheers, Mike