I need your help before the insurance co takes the 1978

[kmickelson]

Hello,

I'm asking for your help. I'm the victim of an accident involving my 1978 Pontiac Grand LeMans 2 door w/305. State Farm, the insurance company for the person at fault is wanting to total the car because their collision center claims they cannot find the parts. I'm trying to establish fair market value or they are only going to pay a few hundred dollars. Do you have any advertisements of similar vehicles?

Though the paint is faded the car still runs well. Surprisingly very limited visual damage (even before the accident)...primarily the driver seat back and driver seat rails have been broken by the impact. The bumper is pushed in about a 1/4 inch. The impact created an electrical short so when you press the horn the horn does not work but the dome light comes on. Not a safe combination to say the least.

Any advertisements or suggestions you can send are greatly appreciated.

Thanks in advance for your help,

Kelly

 

[art]

Why don't you offer to buy it back from the insurance company? Since they think it is only worth a little dough, you should be able to keep it for that same small amount. Or was that not the objective?

 

[rccktmn2]

The same thing happened to my 87 442, a guy rearended me and by the time the insurance got done with it they totalled it out because they could not get aftermarket parts for it. I took their money, then bought the car back for $300 and repaired it later on. You will actually make out better by bying it back because they will say they cant get parts for it and total it out. My car was an original 77000 mile mint condition car that had never been touched mechanically or otherwise, I think I made out.

 

[pontiacgp]

in 2002 I had an 85 GP which was rear ended and slammed in the the car in front hard enough to push that car into the next car. I gave my insurance company (state farm) a list of what I had done to the car in the last year and what was done in the last month. They said the damage was more than the value of the car but I didn't let them take it and told them they could them find me a car just like it....they did find another car but it was a long distance away so I told them I'd sue them for the damages which was $3,570...they paid me the cost of the damages and I kept the car which I drove for another 18 months til I found my current car. The only repairs I made was the replace the one back lite. The rear rail was bent but the car still tracked ok so I had no problems driving it. Threaten to sue them for the damages and they should cough up the money and if they don't sue them. I told my broker I didn't insure the book value of the car, I insured the car

 

[DrRansom442]

I got no issues with that. The whole idea behind insurance is to replace what you have. The insurance company will do everything in it's power to give you as little as they can for your losses. They don't make their monies by paying it out. It is only right that the car either be replaced with a comparible car (in my eyes this includes simular mods, not what some book says is the lowest "wholesale trade-in" value - an honest real world replacement value) or a check for "justifible invested expenses" - afterall it's not YOUR fault your investment was ruined. Or what they claim the value of the vehicle to be, plus you get to buy it back at whatever scrap price they were going to sell it to a yard .... fair is fair - I think it blows you had to pull the "legal card" to get what was rightfully yours. You didn't scam anyone! nor where you taking advantage of a tragedy.

 

[Bonnewagon]

Just tell them you want to keep it. They will deduct "salvage value" and it will be considered a "salvage title" should you fix it and try to sell it again. Also if you have any receipts for work or parts not considered "maintenance" now is the time to show them to get the replacement value up.

 

[kmickelson]

Hey...thanks everyone. I appreciate the encouraging words and suggestions. I should be hearing back from the insurance company tomorrow and you've helped me be better prepared!!!

 

[azmalibuwagon]

Good luck!

I think the key points are:

1) This is their first offer. Make them work hard until you find their final offer.

2) If you let them total it and then buy it back, it will have a salvage title. How much that matters depends on your plans with the car.

ok one more:
3) I hate insurance companies!

 

[joe_padavano]

The problem here is that the other driver damaged your property and the insurance company doesn't want to reimburse you for the full value. I don't see how buying the car back at salvage value will reimburse your loss.

You need to document the actual value of the car by finding sale prices (NOT ebay asking prices) for similar cars in similar condition. Back this up with prices from sources like the Old Cars Price Guide. The fact that THEY cannot find repair parts is not your problem. They need to make you whole. They will lowball the offer and stall as long as possible in an attempt to wear you down. You need to be a royal pain in their side to get results. If you are talking about a large amount of money, consider talking to a lawyer if you don't get satisfaction.

 

[DrRansom442]

The problem here is that the other driver damaged your property and the insurance company doesn't want to reimburse you for the full value. I don't see how buying the car back at salvage value will reimburse your loss.

You need to document the actual value of the car by finding sale prices (NOT ebay asking prices) for similar cars in similar condition. Back this up with prices from sources like the Old Cars Price Guide. The fact that THEY cannot find repair parts is not your problem. They need to make you whole. They will lowball the offer and stall as long as possible in an attempt to wear you down. You need to be a royal pain in their side to get results. If you are talking about a large amount of money, consider talking to a lawyer if you don't get satisfaction.

The idea behind buying the junker back, is hoping they give you a fair replacement price and you can re-use or see (at your descretion) any improvements you made to the wrecked car .... engine, trans et cetera. Everyone knows that no one is going to bother assessing the value of these parts just to scrap the car. So the potential exists to make some cash (or atleast lessen your loses) by parting out the car yourself .... then selling the rest for scrap.