Insurance has totaled car. I chose to retain the vehicle. ACV is $1994. Salvage value is $1577. I've been through this process twice before and have never had a salvage value of 80% of the value of the vehicle. Is this normal? How should I go about negotiating this?
Additional details: 2013 Toyota Avalon. Previously totaled from hail damage. No mechanical issues. Runs great. Ran over something that caused minor damage to the front bumper and blinker. Dents all along the undercarriage leading to "total loss".
Salvage is 80% of ACV. Is this normal?
byu/Left_Question_7471 inInsurance
Posted by Left_Question_7471
3 Comments
Super small numbers skew the hell out of percentages in lower ACV scenarios. You need to not look at it from a percentage standpoint – whole dollar value.
The only way you can “negotiate” really is to increase the ACV by invoking your appraisal clause. The lower ACV vehicles like that have some large swings in valuation.
Very normal, especially with vehicles that have a prior salvage because that significantly lowers the value of the car. There’s no negotiating ACV. Unless the valuation report has incorrect options or mileage. With a prior salvage, you’re never going to get much.
Not super common but it happens. It’s just math. Whatever the numbers come out to is where they end up. Hard to argue the salvage value of your car is too high because they probably have a guaranteed bid for that amount. You can always argue that your total loss valuation is too low but it’s in you to prove that.