We were a one car family for many years partly to avoid having car payments, esp with the rediculous prices over the last 5 years. Life changed – recently needed a car as I was returning to working in person and pregnant with our second kid so it was goi g to quickly become not feasible to not have 2 cars. My aunt happened to be trying to get rid of a car they no longer drove so gifted it to me – a 2007 Ford Fusion that was well taken care of of with only 100k miles. Was counting on being able to drive that car for a least a few years if not 5 or more, but recently got rear ended. The collision shop hasn’t given us a full estimate but we got a message saying there seems to be “significant” damage and we should be prepared with the title in case it’s marked as totaled (she mentioned while I was there the back frame might be bent). I’m really annoyed as they’ll probably only give us ~$1500 if it’s totaled, which is how much we put into it when we first got it to fix an airbag issue so we’re essentially back to where we were a few months ago and the other driver gets to get away with basically ruining our car for almost nothing. Wondering if there’s anything we can do to get in a better position? Or if there’s another sub this is better for (car fixing subs?). Help 🥲
Posted by Good-Gas-3039
6 Comments
You’re legally only due what the car was worth at the time of the accident, which isn’t much. You spending 1500 to fix airbags didn’t improve it’s value. If you hadn’t it would’ve been basically worthless. The other party isn’t “getting away” with anything. Their insurance will pay you what the car was worth before the accident and their rates will likely increase for years. You previously had an asset worth X amount. Insurance will give you X amount. Not sure what more you want.
If the vehicle is totaled, you’ll get ACV and that’s it, you aren’t entitled to more just because you think the inconvenience means you should.
If the vehicle is declared a total loss, they’ll send you the breakdown and all you can do is make sure the info is correct. If you think the ACV isn’t accurate, it’s on you to provide comps which proves their number is too low. You have to provide the actual prices vehicles in your area SOLD for, not what the asking price is. Insurance companies handle thousands of these per week and makes little sense to prolong the discussion when all the adjuster wants to do is cut you the check, close the claim, and move on.
The insurance company will make an offer of the actual cash value (ACV) of the car. It’s an almost 20-year-old car with 100k miles. The insurance company will use a vendor that finds comparable vehicles that have sold recently in order to come up with an offer. There may be certain adjustments available if you had any special options, but with the age it probably won’t add much.
I know it seems unfair to you, but it’s not the other driver getting away with anything. I’m sure they prefer not to have an accident as well.
I’m sorry you’re in this position. I totally understand the feeling. Up until a few months ago my cars were always worth more to me then the dollar amount the car was worth. While it may not seem fair you are getting what the car is worth with no sentimentality attached. It’s just numbers. They aren’t looking at your particular finances just this one car not your interest rate to finance a new one or a down payment you might need, etc.
Anecdotally, every time I do a larger repair or 4 new tires I always think about how bad this would suck if I got into an accident now after paying for something which doesn’t add value just keeps the car moving.
If you are back to where you were a few months ago, wouldn’t that mean you got free transportation for a few months? That’s something.
Sorry that happened, though. I hope it all works out for you and your growing family.
If the car was very well maintained and you have records you could probably negotiate a bit to get the highest possible ACV value. Look at comparable cars for sale. Retail cars are a bit marked up so a fair price is somewhere between private value and retail.
The insurance company auctions these cars and tries to get top dollar for them, so you can try to get exactly what it reasonably cost to replace.