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 Posted: Tue Aug 12, 2008 3:42 am Post subject: ACV 2004 Toyota |
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[color=DarkBlue]My car was rear ended and as a result my insurance has agreed to declare it a total loss. It was sent to the storage yard today. I will probably receive a offer tommorrow. What is a good actual cash value for my car?
It's a 2004 red Toyota Camry Solara SE 6 cyl, auto, 31600 miles, tinted windows, JBL multi stero, auto seats, auto windows, moonroof, I just bought tires a week or two before for $550. It's in excellent condition, except it was in another no fault accident a week or too before that was repaired for $5000. |
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GHG7F0
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| Posted: Tue Aug 12, 2008 6:33 am Post subject: |
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Every insurance company applies its own method of determining the ACV of a vehicle. Some uses third party software for the purpose, whereas, the others may conduct a survey amongst the used car dealers of the locality to arrive at the value. However, you can check out the value of the car at the NADA site to get a fair idea about it.
Regards,
Juanita
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Juanita
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| Posted: Tue Aug 12, 2008 6:52 am Post subject: |
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GHG7F0, its very difficult to give an exact value for the car, as Juanita has rightly mentioned that different companies may use different methods for the same purpose of determining the ACV. However, very tentatively the Toyota model may fetch the value between $12,000 and $15,000.
I can be wrong. Let see what the experienced adjusters have to say in this regard.
Thanks,
Jeorge |
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jeorge
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| Posted: Tue Aug 12, 2008 7:12 am Post subject: |
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Well, I guess the insurer will take into consideration that the vehicle was involved in another accident just before getting totaled. IMO this can affect the ACV as well. However, it won't matter that you have spent $5,000 in repairing it.
Please, provide us with your state and area of residence, as these are the important factors in calculating the value of the car. |
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JeremyHolter
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| Posted: Tue Aug 12, 2008 10:35 am Post subject: |
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I'd be happy to run a value for you but need additional information....does it have leather seats, navigation system, power seats, windows and locks, automatic or standard tranny, sunroof, cruise control? let me know and I'd be happy to check for you.
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Lori
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| Posted: Tue Aug 12, 2008 2:21 pm Post subject: |
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I'd be happy to run a value for you but need additional information....does it have leather seats, navigation system, power seats, windows and locks, automatic or standard tranny, sunroof, cruise control? let me know and I'd be happy to check for you.
No leather or navi
It does have power seats, power windows & locks, auto moonroof, cruise and new tires bought 2 weeks before for $550. The claim is against my company, but the at fault party is the county.
This is in California, I was just approved to refi at $19,000 by the credit union, but didn't do it yet.
Thanks... |
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GHG7F0
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| Posted: Tue Aug 12, 2008 8:21 pm Post subject: |
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A minor difference in regions...in my region-midwest this vehicle books for $15,850.00 your region is $15, 925.00...now the prior damage was repaired right? if so there should be no deduction for that loss. As to the tires, we assume they have 50% of their tread life when valuing a vehicle so they might owe you a little (more than likely won't be more than 25% or so).....Not sure where the cu came up with a re-fi for 19k...course cu's are different...I'm showing a MSRP for only $21,450.00....and that was five (vehicle) years ago...
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Lori
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| Posted: Wed Aug 13, 2008 12:21 am Post subject: |
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| Quote: | | Not sure where the cu came up with a re-fi for 19k |
Same book they come up with housing values. They gota make up the losses some where. |
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rick7425
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| Posted: Wed Aug 13, 2008 2:52 am Post subject: |
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I came up with $18600 value on NADA. The insurance offered me $16964. plus tax, lic etc....
I refused and was able to negatiate the offer to $18464 plus tax etc. the total settlement is $19604.
Thanks anyways... |
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GHG7F0
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| Posted: Wed Aug 13, 2008 5:43 am Post subject: |
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| Quote: | | I refused and was able to negatiate the offer to $18464 plus tax etc. the total settlement is $19604. |
 Great. Hope it'll compensate you well.
It proves that a proper negotiation with the insurance company can solve matters more effectively than otherwise.
Best of luck and keep us posted on how it went.
Thanks,
jeorge |
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jeorge
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| Posted: Wed Aug 13, 2008 9:08 am Post subject: |
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Clearly something was missing from the information I got , that's too far apart to have had all the info...but good for you!
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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