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 Posted: Thu Feb 11, 2010 5:35 pm Post subject: My insurance company said my car was a total loss and wants |
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| I have a 2004 Hyndai Santa Fe. I bought the car on 12/22/2009 and it was in an accident on 1/26/2010 a little after a month that I bought it. The car cost 9600.00 I put 3300.00 down. All said and done I still owe 7516.00 the ins. company wants to give me 8576 with a 500 deductible, this leaves me with 560. The book value for my car is over 13000.00. I don't understand why they are giving me 8576.00. |
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mooremery
New member
Joined: 11 Feb 2010
Posts: 1
1.36 Dollars($)
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| Posted: Thu Feb 11, 2010 5:51 pm Post subject: |
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Using average numbers NADA shows value at about $8700 for me (90,000 miles with average model choice). How are you arriving at your value? How did the carrier arrive at theirs? Did you review the information the used to make sure it was correct (correct miles, options, model info, etc)?
You paid $9600 for a vehicle who's selling price is $13,000? |
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tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 5069
Location: Salt Lake City, UT
272.92 Dollars($)
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| Posted: Thu Feb 11, 2010 7:06 pm Post subject: |
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I got my number from Kelly Blue book. INS got their number fom Mitchell JD Powers. My car had about 83,000 miles on it, it cost me 9,600 the book value on Kelly is over 13,000. I put 3300 down on it.
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Marilyn
Guest
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| Posted: Thu Feb 11, 2010 7:34 pm Post subject: |
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| What model Santa Fe? I used GLS non-4x4 and came up with $8700. With your miles and a 4 cyl I come up with $8900 for the GLS. This is clean retail, which INS might not be using. |
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tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 5069
Location: Salt Lake City, UT
272.92 Dollars($)
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