Posted: Fri Sep 19, 2008 1:07 am Post subject: Vehicle appraised at $8,064.21 and repair estimate is $3,750
Accident where their client is at fault and was sighted. Ins. first said estimate was higher than the value of the vechicle. I got an appraisal from an authorized dealer and they are sticking to this "total loss" BS. Requesting definition and explanation of how "total loss" works. Vehicle is driveable, over 800 miles since the accident.
I think there is some confusion. Usually a carrier will only total a vehicle when it's cost to repair is 70%/80% or more then it's value. The numbers you posted make it around 40%.
CARRIERS WILL OFTEN TOTAL VEHICLES THEY EXPECT TO CAUSE PROBLEMS AT 50%. ARE YOU CLAIMING ENGINE/TRANSMISSION OR THAT YOU ARE HEARING OF FEELING SOMETHING DIFFERENT? FROM YOUR POST YOU SEEM AGITATED AND AGRESSIVE, THESE ARE NOT QUALITIES TO DISPLAY TO ADJUSTER IF YOU WANT YOUR VEHICLE FIXED. MORE NEEDS TO BE SAID ON YOUR END ABOUT THIS STORY, IT DOES NOT MAKE SENSE AT YOU STATED IT FROM MY OPINION AS AN ADJUSTER.
There are also economic totals...the ACV minus salvage is how much they can spend to repair your vehicle...if the repair estimate is greater than that it's a total...
There are also 'obvious total losses' (OTL) this is generally company specific and some states also have some regulations...if the fire wall is severely damaged for instance might be an otl if 60 or 70% of the sheetmetal is damaged etc...
If you will provide ALL the information on your car...yr/make/mileage/all options etc...I'll figure a value for you, also if any UNREPAIRED prior damage on vehicle...
We need a lot more information from you to try and help...also the state you are in please.
Quote:
authorized dealer and they are sticking to this "total loss" BS
Don't think I'd call it BS since you have two knowledgable people saying it's a total loss...
Also you always have the option to owner retain totaled vehicles...since you have been driving it, sounds like a valid option for you..(acv minus salvage value = how much you get and keep the car) _________________ Have you been helped by a poster? Do you want to show your appreciation? YOU CAN !! Just simply click on the donate button and send them some coin!
