05-23-2019, 07:14 AM | #2 |
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Take the check and sell for parts? Car will be worthless once repaired. I'm sure anyone wanting a GTS will want a clean one. Chicago has a big enough market for local sales.
Not ideal, but you may end up making more than the value of the car if there's no serious engine damage. The engine, transmission, interior, and exhaust alone would fetch a lot of money. Idk how bad the damage is, but with 45k in repairs, I'm not sure I'd want to be driving it anymore anyway. Regardless, sorry to hear. Good luck. |
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dubdemand415.50 |
05-23-2019, 07:25 AM | #3 |
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But the check going to the repair shop! But probably i can tell them do not start work on it! And try to sell it as is, maybe i can sell it for 35-40k. There’s no engine or transmission damage
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05-23-2019, 09:59 AM | #4 |
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What are diminished value laws in Illinois?
Tell the insurance company you plan on also pursuing diminished value. Diminished value + the cost of the repair might make them reconsider and total the car. I've seen it happen before...
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05-23-2019, 10:35 AM | #5 |
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I don't get why that would be the case. Wouldn't the diminished value claim be against the other drivers insurance. If someone crashed into you you would pursue their insurance company for loss of value. If you hit a tree, you can't pursue your own insurance company for loss of value I don't think.
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05-23-2019, 01:07 PM | #7 |
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Make sure your insurance company is aware clean title ultra low mile GTS are trading hands in the $70k range now. I wouldn’t want to think what a GTS is worth after $45k in repairs done to it.
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05-23-2019, 04:59 PM | #9 | |
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Sorry to hear, it is a tough situation to deal with. |
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05-23-2019, 11:51 PM | #11 |
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Yes... you'll see that. There are loopholes.
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05-24-2019, 06:16 AM | #12 |
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Not knowing your particulars and not seeing pics, just going on personal experience...
Here's a link for total loss by state: https://www.carinsurance.com/Article...hresholds.aspx IL takes the repair cost (45k) + salvage (I have no details on your particulars, but I'm guessing front end, so let's say salvage is ~28k) = 73k. You're pretty close to a total since actual cash value is probably ~78k. I would think you certainly could argue at least 5k of diminished value, which would take you to a total. I definitely don't think you could get, based on the above, 73k for a wrecked GTS. But I think you could certainly get 60-65 for a properly repaired one. That would be a great deal for someone, the right someone. (With good pics of damage and repair process)(OEM parts, too) As a side note, 45k sounds like a big number, but when you look at the hood, two front splitters, you're already at 10k. This is not a fun process, sorry about that |
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05-27-2019, 03:51 PM | #14 |
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Sorry! Do you have pictures of wreck? Can we see???
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05-27-2019, 08:23 PM | #16 | |
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exactly, much of the "repairs" are in the cost of new parts. |
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05-28-2019, 12:18 AM | #17 |
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I think the body shop makes more money if they fix your car rather than total it. You have to talk to the shop And see if they are willing to work with you on totaling the car. If so, they should take the car apart and look carefully for Possiblly more damages. If they can find more damage (electrical and frame damage is usually very expensive to repair) they can call the adjuster and ask for a second estimate. It also helps if the adjuster is reasonable. If they can find more damage after they take the car apart, this may be enough to push for a total. You need to have at least the shop on your side because they are the ones who can negotiate with the insurance adjuster.
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05-29-2019, 05:44 AM | #19 | |
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obviously... but the body shop has zero say in what happens to the vehicle, in terms of total or not to total. that is up to insurance. end of story. |
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05-29-2019, 11:38 AM | #20 |
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Back in '05 I was in an accident in my E46 M3. Final repair bill came in over $23k and I was pissed that it didn't get totaled at the beginning. I did a lot of research and basically, the body shop gives an initial estimate. They probably don't even open the hood for the initial quote. They want the quote to be low. If the car is totaled then they don't make a dime.
After they start repairs then the body shop starts sending in supplemental requests. My E46 M3 had a first repair quote of $8k.... by the end of the day it was triple that number. the accident was not my fault, so I did pursue diminished value (and successfully got it), but it was a total pain in the ass and took nearly a year. $45k doesn't seem like it will cover enough. I'd ask for a copy of the estimate and also ask the actually opened the hood to do the quote.
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05-29-2019, 06:00 PM | #21 | |
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Then they'll only request supplements when it's too late to total the vehicle. It should be totaled; something simple as the control arm for this vehicle is on 6 month back order, I bet most of the other parts are also very limited and would severely delay the repair. An insurance company would pay off for it simply on principle because any unforeseen delays equal more cost to them. The shop is trying to retain the job, plain and simple. |
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05-29-2019, 06:36 PM | #22 | |
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ignorance is high here. |
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