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Discussion Starter #1
So monday night my car was sitting outside my shop and I didn't bring it inside due to the fact that I was in the ER about to die from a kidney stone.

Got an estimate on it today Little over 2800 including where a limb hit the fender.


It really doesn't look bad and but I digress.


Absolute best I can hope for is around 3200 based on NADA.

They will probably use a .75 multiplier so I am screwed.

I will definately buy the car back if they total it and I have never done that before.

So that is my question. How much money do they usually want to buy it back?

Mike
:dunno:
 

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Not much. Last person I know who bought a car back paid like 500 bucks. Fred Hurder did this with his white 95 S/C SHO back in the day. I forget how much he paid to get it back but it was minimal at best IIRC.
 

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Back years ago I had my 20,000 mile 88 Mustang GT engine catch on fire. AAA wrote me a check for $14,000 and I paid $500.00 to buy it back. After $500.00 in parts and a bunch of sweat it was like new again. Drove it for another year and then sold it for $10,000.00! One thing to remember, your state might change the title to a salvage title. My Mustang was changed to a salvage title but I had taken pics of the car during the rebuild process so the guy that purchased it had no problem with the salvage title.
 

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Like the other guys said, It should not be much. I work as a claims adjuster for one of the big 3 insurers. A Taurus would probably bring about 10-13% (of the NADA) salvage value (the amount the car would sell for at auction). We would pay you the NADA amount plus tag/title and taxes minus any previous damage not related to this loss. We would then take the title, tag and would file an application for a salvage title. In order for you to get the car street legal again you would have to show documentation (pics, invoices, etc.) that the vehicle was repaired and then a state inspector would come out and inspect the car for a fee, ranges from state to state, if the inspector checks the car off as roadworthy again then a clean title application can be filed for. In some cases the car may only qualify for a rebuilders title but only in extreme damage circumstances. With just hail damage, you could probably slide by with not much repair at all. Definitely check your state dmv website, there will be all the forms and info necessary for what you want to do.

Most of what I listed in this post is for Georgia since that is where I work. Like I said though states vary on their regulations and practices. Good luck to ya!
 

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i bought my old ranger back.. bought it for 1800.. put 600 into it.. when totaled i got 4 g's for it.. bought it back for 600.. put 100 into it and sold it to my co worker for 1000.. he retitled it and painted the replaced fender and door.. cost him about 400 for retitling and so other little odds and ends that i didnt replace.. drive it everyday..

ryan
 

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I had a fender bender in my 98' Sable wagon early last year and accidently did something you might be interested in. Didn't look like much damage, but since the rear bumper was cracked, with only new parts availible, it accounted for $1500 of the $2500 total damage. The rest was for a used rear passenger door, quarter panel repair and paint. Ended up selling the car to a needy work buddy for $500, and got a $2200 insurance check towards a new Pontiac GXP Coupe. The insurance company needed a signed copy of the title transfer, before he'd cut a check. My buddy's still driving the car, and no salvage titile was ever issued.
 

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Discussion Starter #7
Well the insurance company uses the 75% rule.

Valued the car at a little over 4K .
Damage was 2800 - the 500 deductible = 2300.

Called my body shop buddy and had him get me a hood and he will paint it. Going to use his PDR guy for the top and the one dent in the decklid.

Should come out over 1K ahead.

Mike
B)
 

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QUOTE (mwt @ Apr 2 2009, 02:47 AM) index.php?act=findpost&pid=714547
So monday night my car was sitting outside my shop and I didn't bring it inside due to the fact that I was in the ER about to die from a kidney stone.

Got an estimate on it today Little over 2800 including where a limb hit the fender.


It really doesn't look bad and but I digress.


Absolute best I can hope for is around 3200 based on NADA.

They will probably use a .75 multiplier so I am screwed.

I will definately buy the car back if they total it and I have never done that before.

So that is my question. How much money do they usually want to buy it back?

Mike
:dunno:[/b]

I got ~ $4K for almost a 12 year old car. The buy back was exactly $500.00. The sum of the parts are worth far more than that.
 
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