Gti_Vroom415
Ready to race!
Oh I forgot to mention. My radiator is leaking also. I need to get it fixed through the dealer. Its certified pre-owned so the dealer is going to fix it some time this or next week. Sorry I didnt clarify before.
6
***Vandalized :,(***
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Oh I forgot to mention. My radiator is leaking also. I need to get it fixed through the dealer. Its certified pre-owned so the dealer is going to fix it some time this or next week. Sorry I didnt clarify before.
Gti_Vroom415
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jgarcia1925
Go Kart Champion
damn this sucks, people are horrible.
I live and work in NY but I work for an insurance company so I can clear this up a little -
It varies from state to state, but typically if the costs to repair a vehicle meet or exceed a certain percentage of the vehicles ACV (actual cash value) then by state regulation it must be declared a total loss. When a vehicle is totaled, you always have the option to keep it, however, the insurance company will deduct whatever they expect you could get for the salvage value from your final settlement. (This is because if they tool possession of the vehicle, they would be salvaging it and recouping that small amount.) The TL value is not based on KBB either, it is based on the similar vehicles in your local market (mileage, options, condition). Otherwise, they will offer you a settement, take possession of your vehicle and sell it for salvage.
Also, if you went directly to a shop for an estimate without insurance involvement at first, then the estimate is likely overinflated. This is because any shop is going to give you a worst case scenario estimate. The reason insurance company estimates are typically lower is because they write for the damage they can see upon initial inspection...then when the vehicle goes in for repairs, and additional damage is found or labor needed, a supplement estimate will be written and additional payment issued. It's not because they are low balling it. Insurance companies often have negotiated labor rates as well that someone coming off the street wouldn't be given.
It may be your first car, but a few years down the line when you are looking for a new one, you're not going to want to be selling your welding up car with a bad car fax. But if its not totaled, then you really don't have a choice anyway.
It varies from state to state, but typically if the costs to repair a vehicle meet or exceed a certain percentage of the vehicles ACV (actual cash value) then by state regulation it must be declared a total loss. When a vehicle is totaled, you always have the option to keep it, however, the insurance company will deduct whatever they expect you could get for the salvage value from your final settlement. (This is because if they tool possession of the vehicle, they would be salvaging it and recouping that small amount.) The TL value is not based on KBB either, it is based on the similar vehicles in your local market (mileage, options, condition). Otherwise, they will offer you a settement, take possession of your vehicle and sell it for salvage.
Also, if you went directly to a shop for an estimate without insurance involvement at first, then the estimate is likely overinflated. This is because any shop is going to give you a worst case scenario estimate. The reason insurance company estimates are typically lower is because they write for the damage they can see upon initial inspection...then when the vehicle goes in for repairs, and additional damage is found or labor needed, a supplement estimate will be written and additional payment issued. It's not because they are low balling it. Insurance companies often have negotiated labor rates as well that someone coming off the street wouldn't be given.
It may be your first car, but a few years down the line when you are looking for a new one, you're not going to want to be selling your welding up car with a bad car fax. But if its not totaled, then you really don't have a choice anyway.
shdwblugti
Go Kart Champion
What would the jeebus do?
jgarcia1925
Go Kart Champion
Shank'th the Mofo who did this, thats what. i just dont get why people are like this now.
theunholy
Go Kart Champion
It's the forum thing, but anyway it doesn't matter if you can afford it or not. It's how you use the "money". They way I see it, if your car is totaled I will get the money and get something else get a mk7, used mk6....etc whatever.
I get it that this is your first car and you like to baby it, but look at the picture, if you plan to repair it like maxtdi it will hurt resale value, unless you plan to keep the car for life.
Gti_Vroom415
Ready to race!
Now you see, finally something helpful... Thank You
Gti_Vroom415
Ready to race!
Gti_Vroom415
Ready to race!
I know I know... In the end it's really not up to me anyway... My dads gonna make the decisions, in the end, he's the owner of the car so he will decide. I just hope I won't lose it
theunholy
Go Kart Champion
yea I see your frustration, its hard to see your new car being damaged and on the edge of totaling it.
Gti_Vroom415
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razr390
Go Kart Champion
Sometimes you gotta hear a different truth to put things in perspective. If you want to keep this car, let's round up some numbers:
20k for 38k miles (a bit above market price)
9k in damage
And you don't want to let go.
Total investment and maintenance for the car will be $29k approx.
PLUS a non-clean car fax. It will bite you in the ass in the long run.
Your dad will most likely settle if it's totaled. I'll assume his older age and experience will make him realize that even though a car is a sentimental thing it's more of an investment.
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