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 Posted: Wed Nov 04, 2009 6:34 am Post subject: Determining ACV of a 1995 truck-other driver at fault |
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Hi !
My husband has a 1995 Nissan XE king cab truck color red
199,128 miles on a completely perfect running 4 cyclinder engine, no leaks, no burps etc.
It has cold AC, power steering, jump seats, alloy rims, chrome bumbers and grill, paint is almost in perfect condition (has a few xxxxxsmall nicks from road debris) it is as shiny as the day it rolled of the assembly line. Interior shows some wear but not major wear. No rips/tears/cracks in the dash or other leatherette parts. It has towing package.
I have looked in my area for trucks with the same features but they are hard to come by cause everyone who has one keeps it. The only difference I am coming up with is the millage, is there a formula to figure the depreciation of just the millage?
Any help with ACV would be greatly appreciated...the trucks in our market area are selling for $3300 and up-that is selling price not asking prices.
The driver that hit him was doped up on prescription drugs and let off with a slap on the wrist, she was ticketed but not arrested. I teach the safe driving classes for our county and we teach that these ticket able offenses should land you in jail....but its not happening.
Please help, adjuster coming sometime Wednesday afternoon.
Thanks Momof2
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Momof2
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| Posted: Wed Nov 04, 2009 6:36 am Post subject: |
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I forgot that this is in NC.
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Momof2
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| Posted: Wed Nov 04, 2009 6:36 am Post subject: |
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I forgot that this is in NC.
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Momof2
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| Posted: Wed Nov 04, 2009 6:42 am Post subject: Other property |
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I also have towing costs $197.00
Glasses replacement $254.00
Cell phone replacement $90.00-used to repair is more
Unused insurance premium (just renewed)
Taxes tag and other Dmv fees
How do I determine the right values?
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Momof2
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| Posted: Wed Nov 04, 2009 10:48 pm Post subject: |
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Hi Momof2, I am not familiar with the laws of NC, however I would think market to market ACV determinations are pretty much the same. The insurance carrier should do an inspection of your vehicle and run a value on it. They should review the value with you, including any depreciations or added value items. If you have reciepts for aftermarket add on items that could add value, have those reciepts ready to submit for consideration. It is very hard for a consumer to determine the ACV of the vehicle as your vehicle side by side with 5 others like it with the same options could all be a different value. Each person cares for thier vehicle ina different manner, some have condition issues that can lower the value and some can be in better than average condition and have a higher value.
Once the insurance compny makes you the offer and reviews the entire report with you, you can decide if it is a fair value. If you feel it is unfair, have the research ready as to how you determined this. For example contact some people who have had the same vehicle type for sale and see what it sold for, same with used car lots. this is not a deciding factor but can be considered. Usually you will recieve a fair offer if you are realistic about the condition of your vehicle.
Towing should be covered as a part of the loss. The glasses and phone, have the damaged items as proof of loss and have your receipts from replacement. This will be handled seperately usually from your vehicle settlement. You do have to provide the proof of loss, however some companies are more stringant on what they want than others. |
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Tiffany
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| Posted: Thu Nov 05, 2009 12:48 am Post subject: |
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Well, I get a value of 4950.00 for a 1995 nissian king cab xe 4 cyl..2 wheel drive...a vehicle this old the only options that will add are 4wd..and I'm assuming yours is not...if 4wd the ACV I'm getting for your area is 5975.00 I'm surprised myself by the value. Now this is per NADA retail which is what the company I work for uses. All carriers have their own way/system for determining a vehicles ACV. | Quote: | | I also have towing costs $197.00 |
The carrier will pay this... | Quote: | | Glasses replacement $254.00 |
Assuming they were broken due to the accident the carrier will pay for these, (if you have med pay on your policy and your state allows double dipping you can also be paid by your carrier for these as well) | Quote: | | Cell phone replacement $90.00-used to repair is more |
If it was broken in the accident they will owe for this as well... | Quote: | | Unused insurance premium (just renewed) |
They don't owe this...cancel your policy...you won't be out anything at all on this... | Quote: | | Taxes tag and other Dmv fees |
This will also be paid dependent upon how your state handles this...in my state, the owner gets a sales tax affidavit, (credit) for the full ACV, and this is the only way we can handle it..Some states can pay it direct to the owner..this will be purely state driven.
| Quote: | | How do I determine the right values? |
I checked NADA for you, you could check Edmunds..you can also check auto trader...The adjuster will tell you how they determine the ACV, don't get too shook up unless and until you disagree with the value.. 
Let us know how it goes and if we can be of further assistance.
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Lori
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| Posted: Thu Nov 05, 2009 1:39 am Post subject: |
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Thank you Lori!
They sent a appraiser (he said he has to send the information to a adjuster) today and he was impressed with the condition of the truck, he said it was very impressive how well it had been maintained. He said he could only access it as average though because of the age though. Is it usual for them to do this?
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Momof2
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| Posted: Thu Nov 05, 2009 3:01 am Post subject: |
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| Quote: | | Is it usual for them to do this? |
Yes it is. |
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Trench
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| Posted: Thu Nov 05, 2009 3:40 am Post subject: |
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I am trying to be exact in how I go about this claim so as to not get taken advantage of (I read 38 pages of threads last night LOL...only like 300 more pages of threads to go!). They are already taking it slow from the get go, they could said they could not locate there client-she has skipped town. There client is the one who started the claim, she told them that she had done it and they still said they needed to investigate and come to there own conclusion (she was in my Husbands lane at least 200 foot ahead of where the collision took place, he had already gone over as far to the right as he could without going over a 100 foot drop embankment. She never put on brakes and my husband had brake marks for 60 foot before the collision, the only reason she stopped is because her car would not go any further.) She told the officer at the scene that she had "overdosed" on her prescription drugs and he didn't even note it, he said that things like that happen.....WHAT?
I just want to be prepared, thank goodness a goof in one of my searches lead me here. I really appreciate the information you provide for everyone here and hope after all this I may be of assistance in some way to someone else in my situation.
Is there a "proper" way to negotiate ACV in case we don't see eye to eye? I don't want to do something that would be wrong or rude (that's just not me) but I don't want to be a pushover either.
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Momof2
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| Posted: Thu Nov 05, 2009 6:03 am Post subject: |
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Momof2,
So am I reading this correctly. Your husband struck the other driver in the rear? Was she in his lane facing him or was she is front of him going the same direction. You mention that he moved over as far as he could without going over the 100 foot drop embankment. If your husband rear ended the other driver, you may not like the outcome.
In any case, they have to investigate the claim and that includes the adjuster talking to their insured. Sometimes it does take awhile to get in contact with an insured that does not want to call back.
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Dasfuk
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| Posted: Thu Nov 05, 2009 6:13 am Post subject: |
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She hit him head on, she was is in his lane headed towards him. 
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Momof2
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| Posted: Thu Nov 05, 2009 6:23 am Post subject: |
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She was charged with Crossing center line going wrong way and operating a vehicle in a aggressive, careless, reckless and negligent manner.
I had forgot to add that she had marks after the collision for 300 feet after impact (she ended up hitting close to the left of center and then glanced down the side of the truck (in a second impact somehow) after impact) .
Hope that clears it up for you, he (my husband) was not at fault and received no tickets (the officer never even talked to him (told us it was not necessary to speak to him cause she admitted fault from the get go), he was on his way to the ER by ambulance)-he did all he could do to avoid the collision.
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Momof2
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| Posted: Thu Nov 05, 2009 6:37 am Post subject: |
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Okay, that makes more sense. There doesn't appear there will be a problem with liability. When I read your post, it looked like your husband might have rear-ended the other driver who was stopped in the middle of the lane - going the same way.
As far as your ACV amount.... do your homework. Get the book value and find similar (exactly the same if you can) vehicles for sale to figure out an ACV price. This is your (your husband's) claim and you need to take control of it. You obviously have a computer, so you should be able to find similar vehicles in your area to arm yourself with if needed. See what the company comes back with. If it doesn't fit with what you came up with and can send the paperwork without delay showing them where they are wrong. Also understand that the sale prices you find are asking prices and not what they vehicles usually sell for, be it on a car lot or from a private seller. As far as a "proper" way, hold your findings until they offer a settlement for the vehicle (not showing your cards). Also understand that even though the car may be priceless to you or your husband, it is only worth so much.
| Quote: | She told the officer at the scene that she had "overdosed" on her prescription drugs and he didn't even note it, he said that things like that happen.....WHAT?
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This does happen, and it really depends on what type of drugs were involved. Pain killers, RX narcotics. My wife takes a non-narcotic and if she happens to take one too many she can get blurred vision. So it does happen, and really doesn't change the outcome for you.
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Dasfuk
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| Posted: Thu Nov 05, 2009 6:42 am Post subject: |
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I know it is hearsay but her mother has told us that she has tried to commit suicide 3 times recently. She has also had 3 collisions within the last year. Her mother said that her doctor keeps on prescribing the pills and she keeps on taking them.
The mother has also been to our house driving up and down our dead end dirt road, we don't know why but should I be concerned about this?
BTW we did call her the next day to see if she was OK, she refused care at the scene and seemed really messed up. We also had another reason as she gave the wrong insurance information (wrong company and number) to the officer at the scene. |
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Momof2
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| Posted: Thu Nov 05, 2009 6:48 am Post subject: |
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| Quote: | I know it is hearsay but her mother has told us that she has tried to commit suicide 3 times recently. She has also had 3 collisions within the last year. Her mother said that her doctor keeps on prescribing the pills and she keeps on taking them.
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This really doesn't change the outcome of your claim. Something like this (pills) could (doubt) be used is some cases if this went to court for punitive damages, but this claim doesn't seem to be headed that route.
| Quote: | | The mother has also been to our house driving up and down our dead end dirt road, we don't know why but should I be concerned about this? |
Depends on the person. Depends on the area. Depends on you and your family. If you feel there is a problem...there are always police for these matters.
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