i got into an acident today
Originally Posted by smurf2k,Jan 29 2007, 09:01 PM
insurance pays for book value of car, gap covers difference between that and what you owe from the bank if its against your favor. so either you get covered or you get nothing. you wont get your downpayment back
im not an expert on this stuff, but thats what seems like will happen
im not an expert on this stuff, but thats what seems like will happen
you are very misinformed if you think you are getting back your DP and payments and whatnot.
gap insurance covers the "gap" from what your auto insurance policy will give you for the current value of the damage or total loss, to what you owe on the car.
ie:
[QUOTE=SD_S2K,Jan 29 2007, 10:26 PM]
you are very misinformed if you think you are getting back your DP and payments and whatnot.
gap insurance covers the "gap" from what your auto insurance policy will give you for the current value of the damage or total loss, to what you owe on the car.
ie:
you are very misinformed if you think you are getting back your DP and payments and whatnot.
gap insurance covers the "gap" from what your auto insurance policy will give you for the current value of the damage or total loss, to what you owe on the car.
ie:
Sorry to hear about the car. I agree with Sabre...
I worked for an insurance in the total loss department. From what I learned while I was working there. Total Loss is determined from the cost to repair a car. Not just the airbags deploying. Generally when the cost to repair the car exceeds 75% (aprox) of the declared value the insurance company will call it a total loss. It doesn't have anything to do with "frame damage" as a lot of people thing.
Like SD_S2K said about Gap insurance. It only covers above and beyond what insurance does not cover. You can however negotiate what your car is worth. If you have "extras" on your car bring that up to them for added value. Everything is negotiable, most people dont know that. KBB the value of your car. If you car was in great condition and the insurance company is giving you low book for your car, you can give them proof that your car was in good condition and they will probably give you more. Not a lot but every bit helps.
I worked for an insurance in the total loss department. From what I learned while I was working there. Total Loss is determined from the cost to repair a car. Not just the airbags deploying. Generally when the cost to repair the car exceeds 75% (aprox) of the declared value the insurance company will call it a total loss. It doesn't have anything to do with "frame damage" as a lot of people thing.
Like SD_S2K said about Gap insurance. It only covers above and beyond what insurance does not cover. You can however negotiate what your car is worth. If you have "extras" on your car bring that up to them for added value. Everything is negotiable, most people dont know that. KBB the value of your car. If you car was in great condition and the insurance company is giving you low book for your car, you can give them proof that your car was in good condition and they will probably give you more. Not a lot but every bit helps.
I hit a guard rail also, in dec 03, car wasn't totaled. But it seemed I had much more damage than you did. I don't think it's totaled. I was on the freeway merging and lost control at around 55 mph, airbags didn't deploy but the car was damaged on the whole drivers side, front & rear end, both headlights, windshield and one of my motor mounts even broke. Then again the car was a 00 w/49k miles and this was 3 yrs ago. Damage was around 15k to the car.
im confused....you say your buddy in front of you in his 350z started to slide....and you did nothing to react?
sounds like you continued on your way and ran into the same problem. Guess the 350z driver got lucky right?
Youll be lucky to come out of this without having to pay anything, you certainly wont be getting your downpayment back.
sounds like you continued on your way and ran into the same problem. Guess the 350z driver got lucky right?Youll be lucky to come out of this without having to pay anything, you certainly wont be getting your downpayment back.
my buddy was right in front of me on the other lane. and if we were going the same speed at around 35 it's kind of hard to do something about that. he was a car link ahead of me.









