WRECKED COUPE SAGA - Vintage Mustang Forums
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post #1 of 27 (permalink) Old 01-17-2005, 05:29 PM Thread Starter
 
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Well since the wife's car was rear ended, the insurance co. has decided to total it. They wanted to give us less than 5000.00 for the car which I feel is too low so I countered with a price that was more than 5000.00 but less than the 9320.00 that NADA says a 20 footer 6cyl coupe is worth.Since they don't know how to value the car, they are sending an appraiser to determine value, and that will be all they will pay. I am not sure how this will come out :horror:.
Scott
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post #2 of 27 (permalink) Old 01-17-2005, 05:44 PM
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Scott try this idea on for size.
Take there offer after the appraiser looks and tell them you would do it if they give you the car along with the check.If the car is not saveable then part it out.You probilly have $1500-2200.00 of parts.Just an idea. :winkgrin:

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post #3 of 27 (permalink) Old 01-17-2005, 06:02 PM
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Do you get to choose the appraiser??

If the car was repairable, you would get to choose the shop that was going to repair it, I would think that you could choose the appraiser and therefore would go to someone who is more into old classics than an everyday appaiser.

Go up to Lake Stevens Licensing (or maybe it's called Village Licensing, right up in the same strip mall by Razzals Sports Bar @ Frontier Village), the gals in there and their families own old Mopars and I think they also have an appraisal business. It might be worth checking out.

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post #4 of 27 (permalink) Old 01-17-2005, 06:11 PM
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Go up to Lake Stevens Licensing (or maybe it's called Village Licensing, right up in the same strip mall by Razzals Sports Bar @ Frontier Village), the gals in there and their families own old Mopars and I think they also have an appraisal business. It might be worth checking out.
Ah HAH! Now I know why I always see that sweet yellow '64 cuda with black stripes parked there!

[color:"green"]"You can't have a proper midlife crisis on only 6 cylinders"[/color]

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post #5 of 27 (permalink) Old 01-17-2005, 06:32 PM
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Is this the insurance co. of the driver that hit the coupe? or your own? If it's the former, and they try to lowball you, you could sue them for the true replacement value. Most people wont go to this extreme because it cost money for the lawyers, so by the time they do get paid, the lawyer gets most of it. The Insurance Co's know this so they will ALWAYS try to pay totaled claims at the lowest cost possible. The only time they can't get away with this is when classic car owners carry their own stated value or agreed value policies and file claim under thier own policy. Then the owners Ins. Co. goes after the other Ins. Co. and the other Ins. Co. ends up paying something ALLOT closer to the owners replacement and or agreed value cost. You think Haggerty pays out claims without going after the other guys insurance co? I think NOT!

My suggestion would be to meet with the appraiser when they look at the car and ask them questions about weather they've done many Classic Car appraisals and on what make/models to see if they have experience with Classic Mustangs so you can get an idea as to their experience/qualifications. If the appraiser hasn't done old cars before, you could still protest whatever value they come up with on the grounds the appraiser isn't experienced and/or qualified to appraise your car and request/demand that an appraisal be done by a "Qualified" third party. Maybe also come to the appraisal armed with the NADA book and some Mustang and/or Car Trader Ads of similar cars. If you've got resale comparison information with you, you might be able to discuss/argue the value with the appraiser before they submit it to the insurance carrier.

In the end, it all boils down to $$$$$$$$$ and weather or not you keep the car for salvage

Just my $.02

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post #6 of 27 (permalink) Old 01-17-2005, 06:38 PM Thread Starter
 
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I seriously thought that they would counter offer. I should have known they were clueless. When the wife took it to the insurance co. to have their adjuster look at it they did not pull it inside the garage to look at it like the newer cars the guy walked around it, didn't even look under the car,tallied up some parts,and was going to give a check for 4 thousand some dollars and said to get it fixed.
So just for fun we were going to take it to Brien Ford which is on their approved list and just a ballpark guess the guy figured about 8000.00 which is about what Commet autobody figured. I plan to keep the car for parts so I will have to see what the appraisal says. He is from the Port Orchard area.
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post #7 of 27 (permalink) Old 01-17-2005, 09:57 PM
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I plan to keep the car for parts so I will have to see what the appraisal says. He is from the Port Orchard area.
.

Hmmmm....I remember reading a post on the main Forum about someone that bought a Mach 1 and had it appraised by an appraiser from Port Orchard. The car I believe was from Bremerton. Long story short...the guy BLEW the appraisal (he said #1 car and was closer to a #3)...and after the guy griped to him at all the work the needed to be done that was supposedly #1...he refunded his fee. :jawdrop:
Hope it's NOT the same appraiser!

Ken....you posted in that thread...remember who that was?
Was that ScodeMike?

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post #8 of 27 (permalink) Old 01-17-2005, 10:10 PM
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Uhm, if it's the same appraiser...Scott comes out WAY ahead. :rolleyes:
Think Kevin.

Brian
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post #9 of 27 (permalink) Old 01-17-2005, 10:14 PM
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Possibly....if he always tends to be on that side. But if he's just plain clueless, it would depend more on where the dart hit. :shocked2:

-Kevin- 69 Mach 1 - 351W - FMX - mostly original. My 69 Pics--Sold 4-25-17
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post #10 of 27 (permalink) Old 01-17-2005, 11:52 PM
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post #11 of 27 (permalink) Old 01-18-2005, 08:54 AM
 
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I know it was in jest, kdrop, but no politics, please.
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post #12 of 27 (permalink) Old 01-18-2005, 08:56 AM
 
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... less than 5000.00 for the car which I feel is too low so I countered with a price that was more than 5000.00 but less than the 9320.00 that NADA says a 20 footer 6cyl coupe is worth.
If NADA says it's worth $9320, it's probably worth about $6000. Latest on-line version says that my coupe is worth $25,000. :jawdrop:
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post #13 of 27 (permalink) Old 01-18-2005, 09:07 AM Thread Starter
 
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I looked at the price they had listed in NADA and figured it was high, but a friend of mine that also has Mustangs and sells Haggerty insurance can't belive that they will insure coupe's for 20,000 and up. I wonder where they get the data to come up with the prices.
Scott
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post #14 of 27 (permalink) Old 01-18-2005, 10:13 AM
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I can't say for sure ...But the Scodemike does ring a bell...

I had a friend in Yakima that went through the about the same thing...Bought a nice little coupe for $8000...kid T-boned it 6 months later and the insurance offered him $5000. Got kinda ugly....I think in the end he got $6000 and bought the car back for a $1.00....

Ken
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post #15 of 27 (permalink) Old 01-18-2005, 02:59 PM
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Damn...what did I miss? Not to often I've seen a deleted post around here. :shocked2: I must have sparked off a "political controversy" ::

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