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 Posted: Thu Oct 06, 2011 10:27 pm Post subject: salvage values |
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My sons car was totaled by a little old lady last week. It is a 2000 Nissan Altima with 175,000 miles. It was in great condition with new brake pads, rotors, and new hoses and gaskets. All of the work had been done in the last couple of weeks. The outer body of the car was in great shape with no dents and the interior had minor wear. The lady's insurance company wants to offer only $2798 for the car. I have printed out sales sites for other Altima's and this seems low. They also said that if I chose to keep the car the salvage value would drop my price $960.18 Isn't the salvage value usually only 10 to 15% of the total worth of the car?
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lizzie
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| Posted: Fri Oct 07, 2011 12:02 am Post subject: |
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How did they arrive at their value and salvage value?
What you printed out were asking prices. You don't mention these amounts.
Usually salvage value is around 20% of a vehicles value but it can differ based on the vehicle itself and the extent of the damage. |
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tcope
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| Posted: Sun Oct 09, 2011 8:22 am Post subject: |
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| Quote: | | Isn't the salvage value usually only 10 to 15% of the total worth of the car? |
The salvage value on my "average" car was about 20% of the total worth.
| Quote: | | It was in great condition with new brake pads, rotors, and new hoses and gaskets. All of the work had been done in the last couple of weeks. The outer body of the car was in great shape with no dents and the interior had minor wear. |
It could be because of all these new parts, recent work and great condition of the exterior that the salvage value of your car was 34% of the total worth instead of 20%.
Good luck to you.
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dave18
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