Need advice on how to handle total loss wreck with my S2K
 

This is my second S2k and I found a fairly clean 2001 with only 65k on it. It has a salvage title but clearly from a small fender bender...all that was fine until about 2 hours ago when this wreck happened:

https://cimg5.ibsrv.net/gimg/www.s2k...42ec8a058.jpeg

It's clearly going to be totaled. I've never been in a car wreck like this before so I'm not sure how to handle this. Ultimately I want to keep the car, strip it down to pieces, keep what's good, and get another. I have a lift in my house and definitely capable of doing this kind of thing but not sure how to handle the insurance company.

Already reported to the insurance company, Progressive. I have full coverage with $1000 deductible. I took a bunch of photos at the scene. No other cars involved. Getting it flat towed to my house.

How should I proceed here? Any advice is appreciated but don't razz me too much because I'm already really close to the edge mentally...haha.

Oh yeah...I'm fine physically.

Think it will buff out?

you can always find out your buyout and part it out. likely will get more from that then from your insurance company, there are people looking for ap1 engines all the time

Whenever they total a car, they sell the carcass. Typically to a salvage yard. Insurance has all sorts of formulas for valuation. They will know the price they want for carcass. No reason you can't be the buyer.

Get your payout, then buy back the carcass. Its as simple as that.

If the car is physically in your possession it will help to make sure nothing goes wrong with the process.

Like they find a salvage yard willing to oay more, so they hastily have it picked up from whatever shop its at, then pretend they lost the paperwork that you bought the car and it was supposed to go to you. Oops, here is your buy back money back...

Good advise above, I presume. It has been a long, long time since I was in an accident as a driver. (1975)

If the dust settles a bit, can you tell us what happened?

When your Progressive adjuster calls you with the progressive retain amount and owner retain amount I’m sure it’ll be easier for you to make a decision.

That's not how it works. They only try to move it to a yard quickly because whatever body shop the customer towed it to is charging $50 a day to keep it in their back parking lot. The salvage yard has no fees.

But they will condition the car based on a number of categories. Some adjusters are more detailed than others (like myself). The average buy back I've been seeing on s2000s is about $2,000-$3000. Hell I can even look up the going rate if you needed me too.

So, using round numbers it could go something like this IF there is NO lienholder.

Car is worth $10k, well if you wanted to buy it back let's say that's $2500. Now you're down to $7,500. Subtract your $1,000 deductible and you're at $6,500 check to you AND you keep the car.

In Florida we have no fees, only taxes. But if you retain the salvage (you keep the car) you dont get paid for the taxes.

Every state is different but that's how it works here. I hope it goes well. Let me know if you have any questions (like on aftermarket parts, deductibles, conditioning, etc)

Davo

When they total a car they will give you 2 options. First option is a check for x amount and they take the car. Second option is a check for a slightly lowered amount and you keep the car. You will always come out way ahead if you take the lower amount keep your car and part it out, especially if the engine is healthy. Usually the lower amount that they offer you when you keep the car is only a few thousand less.

https://cimg8.ibsrv.net/gimg/www.s2k...69d440749.jpeg

Update: Progressive totaled out the car and offered me $12,298 to take it, $7257 for me to keep it. Keep in mind it had a salvaged title to begin with so their numbers take that into account. Not trying to be a commercial for Progressive but I’m VERY happy with their service and the final settlement to me.

I’m definitely keeping it and will fully disassemble and slowly build it back into more of a focused track car while retaining street legal requirements. I’ve already started taking it apart. Subframes are coming out today. Getting my inspiration from the ASS2000 project and Rob Robinette’s S2000 racecar.

I'm glad that everything worked out with results that you're happy with. Good luck with the work to come. That looks like a very nifty lift that you have.