Insurance Wants to Total my Truck. Low Pay Off?

[fmitchelltx]

I was involved in an Accident back on February 22nd. Another driver crossed the middle line and side swiped my truck. The accident was the other drivers fault. After having to deal with the other insureds insurance company, Fred Loya, They have decided to total my truck. It is driveable and needs only a rear door and some work on the quarter panel.

Fred Loya called last week and gave me a choice. I could let them have my truck for one price or I could keep my truck and settle for a price about $1700 lower.

I have looked online at other vehicles like mine. The prices Fred Loya are giving are low for what is for sale.

My question is this, can I argue that their price is too low either way and try to get more or do I have to settle for what they are offering only?

I must make a decision on Monday so any guidance anyone can provide would be greatly appreciated

Thank you

 

[Josh]

It's still a negotiation to a degree, but if you're referencing the for sale prices people are asking, no one believes that's the price. If a dealer is listing a vehicle for $10,000 you can pretty much guarantee if you're going there with cash you can get it for at least $500 less, if not even quite a bit more. On the other hand, if you're getting offered $10k and dealers are listing them at $25k, that's a big difference, but I'm guessing it's probably a little closer to the first example.

 

[TriciaS]

They go buy the blue Book value for your car. And they take over variables into consideration, mileage, the condition before the accident of the car. My car was deemed total, it was a 10 year old car, but very low mileage and the engine was in amazing condition, and there was no other damage before the accident, I was able to increase their offer by $2500 by have the adjuster go and look at again. My brother had a car totaled, very high mileage for the years, existing dings and scratches, he got $2000 less than the KBB value. But go back and make a case for why they should give you more than the first offer. And $1700 less to keep seems high. we both kept ours for about $500 difference. I did trade mine in (as salvage) because what needed fixing could never really be fixed 100% and the car wouldn't be safe if I had another accident.

 

[Justin Bilyj]

Happened to me, I collected local examples and gave it to them and got 1,500 more...