by Guest » Fri Apr 25, 2008 12:27 am
...but I am not positive that is true. The repair quote my claims agent gave me of $7500 is nowhere near the current value of the car, according to Edmund's and KBB. I just bought this 2008 Hyundai Son*ta four months ago and it is in excellent condition. The accident is still being investigated, but it looks like it I may be faulted because I can't prove that the other driver was speeding or that the traffic light had changed (no witnesses to confirm). So there it is. What options do I have to try to convince my insurance company to repair the vehicle instead?
If that doesn't work, I am WAY upside-down on this car. I made the dumb mistake of buying a vehicle outside of my means w/ a low new car APR and I didn't get GAP insurance. I know...idiot. From what I understand, this basically means I'm screwed. I absolutely need a car for work that is reliable enough to travel cross-state. Will a dealer roll my loan into a new loan? Is that an incredibly stupid thing to do? I will be going back to graduate school soon and could, potentially, pay off my balance with education loans, but that is just delaying the debt... Help! Advice? Anyone that has had a similar situation...what did you do? I've learned a lot from this experience...that much is true.
If that doesn't work, I am WAY upside-down on this car. I made the dumb mistake of buying a vehicle outside of my means w/ a low new car APR and I didn't get GAP insurance. I know...idiot. From what I understand, this basically means I'm screwed. I absolutely need a car for work that is reliable enough to travel cross-state. Will a dealer roll my loan into a new loan? Is that an incredibly stupid thing to do? I will be going back to graduate school soon and could, potentially, pay off my balance with education loans, but that is just delaying the debt... Help! Advice? Anyone that has had a similar situation...what did you do? I've learned a lot from this experience...that much is true.
Posted: Sat Apr 26, 2008 11:22 am Post Subject:
I ran your vehicle in NADA, (they won't be using Kelly for sure, should be either NADA or maybe ccc, or another computer program)...if the 7500 is correct your vehicle shouldn't be a total loss...just because it's at a salvage yard...doesn't mean it's ''for sure'' totaled they may have jumped the gun.....and besides that they needed your permission to move it to a salvage yard!
You need to ask them point blank...how do you figure this is a total loss? They will need to tell you the cost of repair as well as the vehicle's ACV....and perhaps the salvage bid as well....somethings not stirring the kool-aid here the numbers are not jibbing...you need to find that out first and formost....when they tell you the ACV ask to go over all the particulars....yr/make/model/mileage/options etc...and make sure those are correct...maybe they screwed up and input a 05 rather than 08....(it happens)......
first things first.....make 'sure' it's totaled and if they say it is ask for the evaluation and estimate of repair...then let us know and we can help you....on this vehicle they wouldn't have written ANY (or no company I know would've) used or aftermarket or reman parts....so that might be an option to reduce repair cost....just find out the estimate of repair first...i think someone may have been way off on that 7500.00 where did you get that figure from?
Posted: Sat Apr 26, 2008 03:31 pm Post Subject:
Many insurers are using salvage pools as a storage facility rather than tow yards or bodyshops. Some might say this is a cost mitigation of storage fees or a control technique. I have had numerous vehicles delivered from the salvage pool facility; some to repair and some of them go right back to the pool. If you're assuming it is totaled just because it is already at a salvage pool or yard, that may not be the case at all.
Posted: Sat Apr 26, 2008 10:50 pm Post Subject:
What Mike says here is true. They do use the salvage pools as storage. When someone hit my truck last July they automatically moved it from the towing place to the salvage yard. The adjuster thwn went there to look at it. It seemed a little backwards but that was what they did. I don't know if they talked to the garage that was storing it and they told the ins. company it looked like a total loss and they took their word for it or what. I knew myself it was a loss just by seeing it at the accident scene...no saving that baby.
Posted: Sun Apr 27, 2008 12:32 pm Post Subject:
Some tow lots and/or shops charge up to 25.00 per day for a vehicle to set outside on their lot....inside more....so you see it can add up quickly, if they have a close storage free facility especially if it's a company that doesn't move real quick looking at cars...then it just makes good sense to reduce the expense by moving it.
Posted: Mon Apr 28, 2008 03:29 pm Post Subject:
I think it makes alot of sense. No one can blame them there. I am hoping the op stops back and updates us. I am wondering how far the person got with this issue.
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