Salvage car damage
10-31-2013, 08:22 AM
#41
Team Owner
Member Since: Jun 2005
Location: Northern, VA
Posts: 46,111
Received 2,485 Likes
on
1,947 Posts
St. Jude Donor '15
"In honor of jpee"
does anyone else question the $52K retail value for an '08 Z? I do. (and I've read those who do, too)
what I'd like to know is, what is the wholesale trend for the last few months on '08 Z's with or without similar miles? I don't know about the "50% of price" suggestions above, but wholesale is the number I'd consider using as where my numbers start.
what I'd like to know is, what is the wholesale trend for the last few months on '08 Z's with or without similar miles? I don't know about the "50% of price" suggestions above, but wholesale is the number I'd consider using as where my numbers start.
10-31-2013, 11:14 AM
#42
Le Mans Master
Actually the insurance company does what's in their best interest. If they come out money ahead they total the car. If the repair cost > than the totaled value - the salvage value of the car they will total it every time.
This car has mechanical repair work that may be difficult to verify and paint work that will be impossible to vouch for until it's aged a few years. I personally would rather have a straight no-stories LS2 or LS3 for less money.
10-31-2013, 12:16 PM
#43
Instructor
It's hard to believe that car was totaled based on the pictures of the damage you provided. There must have been something 'under the covers' that they (insurance company) didn't like.
From those pics it looks like mostly cosmetic with the exception of some minor frame damage. The headlights didn't even take any damage from the impact which is odd. I would be interested to know why the insurance company totaled the car. So I guess what I'm suggesting is, get more information.
A good place to start might be the receipt from the body shop that repaired the car. That will give you a good idea of what it took to repair it.
From those pics it looks like mostly cosmetic with the exception of some minor frame damage. The headlights didn't even take any damage from the impact which is odd. I would be interested to know why the insurance company totaled the car. So I guess what I'm suggesting is, get more information.
A good place to start might be the receipt from the body shop that repaired the car. That will give you a good idea of what it took to repair it.
10-31-2013, 02:14 PM
#44
Advanced
Member Since: May 2012
Location: Norman OK
Posts: 65
Likes: 0
Received 0 Likes
on
0 Posts
It's hard to believe that car was totaled based on the pictures of the damage you provided. There must have been something 'under the covers' that they (insurance company) didn't like.
From those pics it looks like mostly cosmetic with the exception of some minor frame damage. The headlights didn't even take any damage from the impact which is odd. I would be interested to know why the insurance company totaled the car. So I guess what I'm suggesting is, get more information.
A good place to start might be the receipt from the body shop that repaired the car. That will give you a good idea of what it took to repair it.
From those pics it looks like mostly cosmetic with the exception of some minor frame damage. The headlights didn't even take any damage from the impact which is odd. I would be interested to know why the insurance company totaled the car. So I guess what I'm suggesting is, get more information.
A good place to start might be the receipt from the body shop that repaired the car. That will give you a good idea of what it took to repair it.
10-31-2013, 02:24 PM
#45
Racer
Thread Starter
Member Since: Sep 2012
Location: Auburn Alabama
Posts: 290
Likes: 0
Received 0 Likes
on
0 Posts
According to edmunds the value is around $43k-$46k. But that's in excellent condition.
The trade in value for average condition drops to about $32k and when you figure in how insurance companies notoriously under value cars, it's not a stretch to say the valued the clean car in the high twenties. That would make more sense for them to total it out.
The trade in value for average condition drops to about $32k and when you figure in how insurance companies notoriously under value cars, it's not a stretch to say the valued the clean car in the high twenties. That would make more sense for them to total it out.
10-31-2013, 04:20 PM
#47
Race Director
I'd offer them $20k and remind them it's a salvage titled supercar that would be worth $40k if it didn't have it's delicate aluminum frame repaired. There's plenty of fish in the sea, so if you don't get this one its not like there aren't more.
Heck, you could probably find a clean titled car with a bit more mileage on it for about what they're asking...
Heck, you could probably find a clean titled car with a bit more mileage on it for about what they're asking...
10-31-2013, 06:05 PM
#48
10-31-2013, 10:57 PM
#49
Melting Slicks
Go on NADA.com.... Get value pay 50% of that. I'm in the business and I know what I'm talking about... I know I already posted this.. I'm just trying to get through to you buddy..
11-01-2013, 12:21 AM
#50
Racer
Thread Starter
Member Since: Sep 2012
Location: Auburn Alabama
Posts: 290
Likes: 0
Received 0 Likes
on
0 Posts
I hear ya man. I really appreciate the advise too. I'm gonna go for half the value and if he won't come down ill walk away.
11-01-2013, 02:37 AM
#52
I was looking at the add for this car on the bay, the pics reminded me of how they move those cars around the lot.........with a large pay loader/fork lift..... me, I rather not buy a high end car that's been handled like that. Its been a while but I used to be a buyer at insurance auctions, they are not all that careful moving cars around. I would seriously have someone look this car over top to bottom if your set on buying it.
11-01-2013, 07:27 AM
#54
Instructor
Member Since: Jul 2008
Posts: 246
Likes: 0
Received 0 Likes
on
0 Posts
depends on how much you want the car, you may be better off getting a higher mileage one.
if you go with the "offer 50% of retail" you'll lose the car, guaranteed.
The only way you are getting a c6 z06 for 22k is if....
1) mega high mileage and yellow
2) salvage and not repaired
3) car auction
4) needs tons of work (ie blown motor)
if you go with the "offer 50% of retail" you'll lose the car, guaranteed.
The only way you are getting a c6 z06 for 22k is if....
1) mega high mileage and yellow
2) salvage and not repaired
3) car auction
4) needs tons of work (ie blown motor)
11-01-2013, 10:36 AM
#56
Safety Car
11-01-2013, 10:43 AM
#57
Safety Car
ballpark
Your in the ballpark in $27,000. range but that might not buy it.how did the car test drive?
Last edited by irok; 11-01-2013 at 10:46 AM.