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Valued Contributor
Shellie
Posts: 1,224
Registered: ‎05-15-2013
0

Re: No new vehicle for us any time soon.

I'm fine, just got beat up pretty good.  I am still waiting on the at faults ins to confirm that it is totaled so I can even start the process.

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



New Contributor
ori68
Posts: 58
Registered: ‎01-13-2014
0

Re: No new vehicle for us any time soon.

In my area (south Texas) there are lots of new Rams and F150's supercabs at the 23-24k mark. based on the amount you plan to spend per month, it should be doable for you.

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Frequent Contributor
coterotie
Posts: 487
Registered: ‎11-30-2012
0

Re: No new vehicle for us any time soon.

Remember to negotiate to get top dollar for your totaled vehicle.  Let the adjuster know you want to be made "whole."  Don't let them get away with any low ball offers. 

Valued Contributor
Remember0
Posts: 1,284
Registered: ‎02-12-2014
0

Re: No new vehicle for us any time soon.


coterotie wrote:

Remember to negotiate to get top dollar for your totaled vehicle.  Let the adjuster know you want to be made "whole."  Don't let them get away with any low ball offers. 


Very true! In fact odds are the first offer is a lowball. Look at comparable listings online for the car that was totaled online and compile a few. If the initial offer is lower than those listings+doc fee+TTL of the listings, send the listings to the adjuster and say you don't feel it's proper compensation and that you've attached your justification by showing comparables. Don't forget that in most states, they owe you TTL on top of just the value of your car (plus they should be giving you retail value (ie the cost to buy a similar model), not trade in value).

 

Also if you've done recent work on the car like a new set of tires, send in those receipts along with the comparables in your area you've found!

Valued Contributor
Shellie
Posts: 1,224
Registered: ‎05-15-2013
0

Re: No new vehicle for us any time soon.

i looked on the NADA site and have that idea as to what mine is worth.

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



Valued Contributor
Shellie
Posts: 1,224
Registered: ‎05-15-2013
0

Re: No new vehicle for us any time soon.

[ Edited ]

It needed two new tires but I hadn't gotten them.  I never did anything to it other than drive it. A lot! It had 108K miles on it.  NADA says almost $16 and I owe about $12.  I've had it for 15 months and in Feb I added $2k to the loan for some house repairs.  I can find only one comparable online in my area, about 10k less miles but close in NADA price.

 

eBay looks to have about the same values.  I've checked autotrader.com, cars.com and eBay.com.

 

KBB.com $14,988-$15,880(suggested retail)

NADAguides.com clean retail $15,925 

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



New Member
JasonK94Z
Posts: 4
Registered: ‎06-18-2014
0

Re: No new vehicle for us any time soon.

Shogun - I just moved to OKC (Moore) a few months ago.  Does Tinker and BoOK have rates and qualifications similar to DCU?  

 

I'm about to purchase my leased truck.

Valued Contributor
Shellie
Posts: 1,224
Registered: ‎05-15-2013
0

Re: No new vehicle for us any time soon.

@JASONK94Z I don't know that Shogun is from OK.  He knows I am from my other posts.  He may very well be from OK tho!!

myFICO EQ Starting Score 568 05/01/2013 Current Score 657



Valued Contributor
Remember0
Posts: 1,284
Registered: ‎02-12-2014
0

Re: No new vehicle for us any time soon.

Generally for seeing if your offer from the insurance company is fair, it's fine if you use KBB Clean Retail or something to compare.

 

But if you appeal, don't send in KBB Clean Retail. At least don't send in only KBB Clean Retail. You NEED to include comparables (+/- 20k miles and even a little further away from your house is okay if the model you're search for is rare). Also keep in mind when looking at comparables, if you had a 2007 Ford Explorer Limited w/ 100k miles, a 2007 Ford Explorer XLT w/ 105k miles is a good comparable, assuming asking price on the XLT+doc fees+TTL is more than what you were offered on your Limited w/ 100k miles.

 

Given the NADA prices, I think a fair offer from the insr co would be something like 15.5k+15.5k*.06(assuming sales tax is 6%)+200(assuming title is $200 in your state)~16.6k

 

Now they'll probably blow you off and try to get you to accept like 15k or if they are really scummy 14k. Don't! Find a few more comparables (even if it's 100 miles away from your zip) that are closer to NADA Clean Retail, and tell the adjuster you don't feel the compenation values the vehicle totaled properly.

 

Also keep in mind those loan payments shouldn't go more than 30 days late. You need to keep making loan payments to the finance company even if the insurance drags its feet. Otherwise your credit will get dinged. Finally when the insurance agrees to an amount, they'll send it to the finance company probably (more reason you need to keep on them so they don't just send a 14k check to the finance company and call it a day). You need to collect the excess from your finance company typically.

Valued Contributor
Shellie
Posts: 1,224
Registered: ‎05-15-2013
0

Re: No new vehicle for us any time soon.

I just made my car payment yesterday.  I know better than to not make my payment!  I looked yesterday and had trouble finding the same model online to compare.  I had a 2009 Ford Flex SEL rear buckets. rear entertainment, FWD 108k miles

myFICO EQ Starting Score 568 05/01/2013 Current Score 657




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