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Old 12-16-2004, 04:37 PM   #21
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I'm more along the lines of market values. How much is put into it doesn't guarantee half that amount, etc.

I paid $3900 for my car, but if i wanted to get close to that, i'd have to demod it.
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Old 12-16-2004, 07:07 PM   #22
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Arent we looking to deep into this?. He had the car appraised, there is no intention to sell, or get $7500 bux for it, the only point was to prove to the insurance company that the car was still worth insuring...market value be damned, thats not the point here.

An appraiser can value the car at $56 000 or whatever as long as its higher then $2000 required so that the insurance company will STFU....simple no?
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Old 12-16-2004, 07:10 PM   #23
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Quote:
Originally Posted by Jim W
Arent we looking to deep into this?. He had the car appraised, there is no intention to sell, or get $7500 bux for it, the only point was to prove to the insurance company that the car was still worth insuring...market value be damned, thats not the point here.

An appraiser can value the car at $56 000 or whatever as long as its higher then $2000 required so that the insurance company will STFU....simple no?
true...true, but i was under the impression that the higher value the more it costs to insure it, A new Bonne would cost more for me to insure than my 93
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Old 12-16-2004, 08:20 PM   #24
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Umm.. guys.. My car is not worth over $1500 to the insurance company.. does that mean they aren't going to insure it anymore? What happens if you have such a POS car that the insurance won't cover it. Does that mean you can drive without insurance?


-justin
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Old 12-17-2004, 12:20 AM   #25
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Merlins 91, is one of his two cars that sits in storage over the winter, therefore, I'm sure he has worked out his insurance so that only minimal protection is on it...ie fire and theft, that being said, why would an insurance company that wants nothing more then to make money want to fully cover a vehicle (in case something does happen to justify payout) without knowing it has value.

My friend Paul experiences this with my previous car, (his winter/2nd car) and his modded for show 2000 Accord coupe.

Its all business
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Old 12-17-2004, 12:37 AM   #26
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Quote:
Originally Posted by BonneMeMN
I'm more along the lines of market values. How much is put into it doesn't guarantee half that amount, etc.

I paid $3900 for my car, but if i wanted to get close to that, i'd have to demod it.
You're probably incorrect on that Zais...... depending on the mods (stereo, lights etc) they can increase or decrase your value. Changing rims from stock to aftermarket tends to hurt your value, while adding an alarm and stereo tends to add to the value.

You car.... would probably go up in value.

Quote:
Originally Posted by Jim W
Arent we looking to deep into this?. He had the car appraised, there is no intention to sell, or get $7500 bux for it, the only point was to prove to the insurance company that the car was still worth insuring...market value be damned, thats not the point here.

An appraiser can value the car at $56 000 or whatever as long as its higher then $2000 required so that the insurance company will STFU....simple no?
It'* that simple Jim.... insurance want to make sure they weren't insuring a POS for FULL COVERAGE..... they would insure the car regardless of value, but you wouldn't be able to get full coverage, just plpd.... not collision.... but now w/ the $7500... I can get full insurance again for next year.... w00t!
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Old 12-19-2004, 10:08 PM   #27
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The blue book value for my 92 SSE with 53000 miles is only $4,000. It seems kinda high for a 1991 bonneville. But who knows.
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Old 12-21-2004, 04:43 AM   #28
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My 97 was worth $6,592 before it was stolen with 154,xxx on it. So i beg to differ your price, it almost seems impossible for a 91 to have that much value.

I had it appraised after the damage the theifs did to it and now its worth $6,392

When you say mods, what kind are we talking? Performance plugs and wire etc. Stuff like that
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Old 12-21-2004, 08:35 AM   #29
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When critiquing his value bear in mind that he'* speaking in Canadian $, not US $.
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Old 12-26-2004, 11:06 AM   #30
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Every totalled car Ive worked with the insurance company has always told me they go by local market value and not the book value. My sisters 95 Saturn SL1 was rear-ended while being parked in front of our house and the insurance company only wanted to give her $2,000 for it, which in reality is a real respectible number. But the car had a BRAND NEW engine installed and the transmission rebuild in the last year, over 2 weeks with complaining to the insurance company of the guy who hit her car they settled at $4100. Both you and me know that a 94 saturn is no way close to being worth $4100. Another thing they take in consideration is % of fault, because I know they tried telling my sister that she was at 10% fault for parking her car in front of the house, and their client who was doing 25 over the 30mph speed limit in a residental neighborhood was only at 90% fault. My sister is kind of a push over, but I got on the phone with the insurance company and straightened that out too.

Now the nice thing is, if I total out my impala the NADA value is $12,000 but local ads are selling impalas from $11,000 - $20,000. So Im sure with enough bitching I can get $16,000 from the insurance company if the impala was ever totalled out.
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