Insurance Offer
Joined: Nov 2012
Posts: 170
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They are offering me $14k for my 2002 with 61k miles. The adjusters repeatedly told me how nice my car looked, and said it was in 'excellent' condition. Well an excellent condition car like mine is over $20k on KBB, and while I know that isn't the end all of value, I have also been prowling craigslist and autotrader, and I can't find a car with less than 90k for under $15k.
#1 - if you want a good idea of the price, you have to average the 3 pricing levels -- Trade In, Private Party, Retail -- across the 3 pricing sites: Edmunds, KBB and NADA. Comparison shopping on Craigslist is only an indicator of desired sale prices from owners, not actual prices as they're selling. Averaging these three will help to stop any of the "well, that site usually prices cars high" arguments.
#2 - I paid $18,250 for my '06 with 42K miles on it, at a dealership. Sure, I got a good deal on it because it was in Silverthorne, Colorado (over 9000 feet elevation) two months before ski season, but still. So your '02 with 61K miles isn't worth $20K+, the closest you could get to that is retail pricing in the Florida/California markets.
Run the price on all 3 sites and see what they average at, and expect to get somewhere between Trade In and Private Party for it. If that's within $1-2K of what they're offering, you're not being ripped off. If their price isn't within $1-2K, then show them your pricing work-up and see what they say.
I'm with USAA as well, haven't totaled a car but all of my other interactions with them have been excellent (they do my banking, car loans etc).
Good luck!
Registered User
Joined: May 2009
Posts: 1,167
Likes: 1
From: Indiana
$14,000 is not unrealistic. KBB is always higher than true value. If you want a good idea of what it will really take to replace your car, go to Autotrader/Cars.com, look at local cars, calculate the average price, then take 15-20% off that average since cars don't sell for their asking price. If you're looking at listings that have been up for 2 weeks or less, don't include them in the average or take off 25% instead because they are still at their "I might as well list the car higher just in case someone wants it that badly" price.
Joined: Oct 2005
Posts: 988
Likes: 13
Make sure they pay you the sales tax if your state charges sales tax on car purchases. ( most do). Its something you'll have to pay when you buy the replacement car and something they owe as part of making you "whole" after a total loss.
Some insurance companies automatically add it and some won't til you "remind" them...
Some insurance companies automatically add it and some won't til you "remind" them...
Thread Starter
Registered User
Joined: Sep 2011
Posts: 160
Likes: 0
From: Northern Virginia
Sorry everyone, I will keep you updated! This whole situation had to happen around when school started, so I'm trying to keep my life in order. I've sent 3 local listings for similar cars averaging about $16k. I'm not expecting a huge payout, but I'll take every dollar I can get. I also am claiming my $200 radio just for a little extra cash. I'm for sure going to buy another S2k, probably an AP2.
I also got another rental car for another week, and they are paying $600 to cover sales tax, title, etc., which atones for my misgivings from before. Not happy with the whole situation but I think I'm coming to grips with it. Thanks for all the advice/interest!
Edit: The shop said the car has a broken subframe, tweaked frame, and buckled radiator support. $10,000 in damage was the latest figure I heard.
I also got another rental car for another week, and they are paying $600 to cover sales tax, title, etc., which atones for my misgivings from before. Not happy with the whole situation but I think I'm coming to grips with it. Thanks for all the advice/interest!
Edit: The shop said the car has a broken subframe, tweaked frame, and buckled radiator support. $10,000 in damage was the latest figure I heard.
Registered User
Joined: Dec 2009
Posts: 2,671
Likes: 10
From: SoCal
Long story short, I went to the Tail of the Dragon early August and had a great time there. 30mph road, beautiful scenery in the area, and nice people too. On my way back I headed through a small town in Tennessee while I tried to make my way to Georgia. I got on this road with a 55 mph speed limit and was driving probably 45. This road is hilly, and I came up over a hill and all of the sudden there was a less than 90 degree turn right after the crest. My cousin's Si barely made it with the ABS light flashing, but my car was less fortunate. I understeered into the grass and spun around completely into the opposite side of the road into a ditch. Front and rear bumper needs replacing, broken control arm in rear passenger side. They intitally said $3k in damage, and then $6k, and now it is looking like its totaled to them.
They are offering me $14k for my 2002 with 61k miles. The adjusters repeatedly told me how nice my car looked, and said it was in 'excellent' condition. Well an excellent condition car like mine is over $20k on KBB, and while I know that isn't the end all of value, I have also been prowling craigslist and autotrader, and I can't find a car with less than 90k for under $15k.
What can I do about this? I feel bullied right now because they took away my rental car because they said it had been over a week (this whole experience has been dismal, never get insurance from USAA), so I am now car less. Sorry for such a long post. This has been an awful experience, firstly to see my baby in a ditch thinking it was ruined, and then to have insurance dangle the carrot in front of me for almost a month telling me my car was fixable, only to lowball me.
They are offering me $14k for my 2002 with 61k miles. The adjusters repeatedly told me how nice my car looked, and said it was in 'excellent' condition. Well an excellent condition car like mine is over $20k on KBB, and while I know that isn't the end all of value, I have also been prowling craigslist and autotrader, and I can't find a car with less than 90k for under $15k.
What can I do about this? I feel bullied right now because they took away my rental car because they said it had been over a week (this whole experience has been dismal, never get insurance from USAA), so I am now car less. Sorry for such a long post. This has been an awful experience, firstly to see my baby in a ditch thinking it was ruined, and then to have insurance dangle the carrot in front of me for almost a month telling me my car was fixable, only to lowball me.
Also, USAA paid me $14k for my E30 when it got hit... and that was an '89 BMW! This was last year. Amazing customer service.
Joined: Dec 2005
Posts: 3,056
Likes: 1
From: Stockbridge, Georgia
Travelers just paid $13,300 for my 2001 with 110,000 miles. They first offered $11,500 and I complained and sent them maintenance receipts for the past year. I have been looking for the past few weeks and I would expect to find a 2002 with 60,000 miles for $15k -$16k. Some are asking as high as $18k for a 60, 000 mile car.
I did a Google search for "Honda S2000 for sale" and came up with a bunch of websites - hundreds of cars to look through. Good luck.
I did a Google search for "Honda S2000 for sale" and came up with a bunch of websites - hundreds of cars to look through. Good luck.
Registered User
Joined: Jan 2010
Posts: 95
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I have a 2002 with only 57k im selling for $14,500. Built/sleeved motor with a full race kit making 500hp on top of that.
I'd take the $14k and be happy. You can come by mine and not have a wrecked car on your hands (not sure why you would want to keep it, you can easily replace it).
I'm in VA also
I'd take the $14k and be happy. You can come by mine and not have a wrecked car on your hands (not sure why you would want to keep it, you can easily replace it).
I'm in VA also
Thread Starter
Registered User
Joined: Sep 2011
Posts: 160
Likes: 0
From: Northern Virginia
I have a 2002 with only 57k im selling for $14,500. Built/sleeved motor with a full race kit making 500hp on top of that.
I'd take the $14k and be happy. You can come by mine and not have a wrecked car on your hands (not sure why you would want to keep it, you can easily replace it).
I'm in VA also
I'd take the $14k and be happy. You can come by mine and not have a wrecked car on your hands (not sure why you would want to keep it, you can easily replace it).
I'm in VA also
Registered User
Joined: Jan 2010
Posts: 95
Likes: 0
Originally Posted by wall-e' timestamp='1379022840' post='22775411
I have a 2002 with only 57k im selling for $14,500. Built/sleeved motor with a full race kit making 500hp on top of that.
I'd take the $14k and be happy. You can come by mine and not have a wrecked car on your hands (not sure why you would want to keep it, you can easily replace it).
I'm in VA also
I'd take the $14k and be happy. You can come by mine and not have a wrecked car on your hands (not sure why you would want to keep it, you can easily replace it).
I'm in VA also