Potentially totaled FZJ80; looking for advice (1 Viewer)

[COYS]

I bought this LX450 listed at $18.5K from the classifieds here. Long story short, it's been totaled by State Farm insurance.

Their initial offer is as follows, *far* below what I paid for it just a couple of weeks ago:

9933.00 Actual cash value
+943.64 Taxes
10876.64 Sub Total
-1000.00 Deductible
9876.64 Total loss settlement if you turn the vehicle over to State Farm

9933.00 Actual cash value
-1200.00 Salvage value
+829.64 Taxes
+21.00 Title fee
9583.64 Sub Total
-1000.00 Deductible
8583.64 Total loss settlement if you keep the vehicle

I'm going to pursue a third party appraisal to make me whole numbers wise. What sucks is missing out on building an LX450 of my dreams. Even if I were to drive it forever, I don't want a salvaged title. Any help in valuing this LX correctly would be helpful.

Major bummer. Thank you.

 

[BILT4ME]

You will only have a salvage title if you let them have it.

You need to plan on buying it back.

There are a number of threads on this forum describing what you are going through.

Do NOT accept their first offer. There will be more and eventually, you may have to get an attorney involved.

If you have service records from before you bought it to justify WHY you bought it already serviced, you will have more of a leg to stand on.

What I see there is NOT totaled for $10,000 ish.

Once again, the damage multiplier did its job. It multiplied the damage. Had you NOT had that thing on there, you would have only incurred a couple thousand tops.

The key here is to prove how much you bought it for, how much its worth within 500 miles radius of similarly equipped trucks with similar mileage. Blue Book doesn't mean much for these trucks.

Keep at it and say no until you're happy. Then buy back the truck for the settlement (your title will NOT be salvage because you STILL OWN it), then stick with 'Mud, buy replacement parts, do as much work yourself as you can, then buy upgrades for it such as HD bumpers, lift, tires, sliders, leather seat covers, stereos, Roof Top Tents, Swing out rear bumper, and of course........40" Super Swamper tires.

More folks will chime in to help out. Don't get frustrated and STAY WITH IT!

 

[BILT4ME]

RF Fender
Grille
Hood
Radiator Support
Headlight Bucket
RF Fender Flare
Bumper
RF Bumperette
Have the Frame checked at a frame shop
Maybe check lower front control arm
Rebuild front axle.
Radiator
Cooling Fan
Radiator Overflow Tank


Oh....and don't forget to buy a SNORKEL!

 

[Michael Hanson]

Hi, Does it have to be a salvage title ? Mike

 

[BILT4ME]

I'll buy it for the $1200 salvage value and drive it home!

Let me know if I need to fly out to pick it up! Even if you get to keep the settlement!

 

[2fpower]

Isn't your neck hurting some? Time to go to the doctor.....

 

[BILT4ME]

Isn't your neck hurting some? Time to go to the doctor.....

Yes....They will give you a cash outlay to cover your "inconveniences" for having to go to the Dr., in addition to the actual medical charges.

However, since your damage is in the front.........It may be the OTHER guy claiming it.......

 

[Michael Hanson]

Hi, You don't need to buy it back ,it's already yours. Should not have a salvage title . Settle for what you paid for it and fix it your self. Mike

 

[COYS]

Hi, You don't need to buy it back ,it's already yours. Should not have a salvage title . Settle for what you paid for it and fix it your self. Mike

Meaning get paid out = (salvage value + deductible) - (final settlement) --> remains mine, title is clean, and I get it back spic and span with the remaining funds?

Still not clear how there is no salvage title if I accept a settlement. Thanks.

 

[REKCUT]

Every state is different but in Missouri I have gone through this process. I took the money minus the salvage value and eventhough i only wanted to use it as a parts vehicle i wanted all the add ons and to be used as a parts vehicle. That said i have a clean title. Title never changed. Title never left my hands. It only becomes a salvage time when the insurance take the truck from you and sells it. Not when they pay out.

 

[REKCUT]

It also takes time to get a decent settlement. If its your daily driver and you need it know then your in a hole. If you can wait then you can get more. As i said i used mine for all the add ons. Tires, rear slee bumper, winch sliders, lift. Had to give up $1200 but thought it was a good decision. I then took about 5 months before i agreed on a settlement. Went through several claims reps but got the price to go from 5500 and they get the truck to 9800 and i kept the truck. Thats around 100% increase over original offer. Mine was a 93 and it was 6 years or so ago

 

[junior80]

Oh man that sucks. At least now you won’t be so worried about scratching it on a trail.

 

[COYS]

I’m getting conflicting reports on the salvage title scenario. I’m in CA. State Farm is proving to be the mega corp it is and if they don’t step up they’ve lost me as a long time customer. The adjustors are a call center team so you don’t even deal with the same claims rep for consistency. I am a number in a revolving queue.

It’s not my daily driver. It’s one of my babies. I have $10k worth of labor and parts that was scheduled to get done on the rig. Major bummer.

I do not want to deal with a salvage title. It’s a pain in the arse as CA requires a bunch of checks at local state gov offices which is a major time suck. One of the benefits of buying this 80 was to add the parts and getting some or all of it back should I ever sell due its pristine condition and documented ownership history on this very forum.

I’d love to hear from those who went through a similar scenario in the state of CA. Still numb from the accident. Lol smh

 

[bugsnbikes]

Generally they are going to give you the blue book value.....not what you paid

If cruiser’s are fetching a premium to blue book value you would have to show that the “only” comparable ones for sale in your area with similar miles and similar condition are more than blue book. But if they can pull up a few for sale that are at or below blue book........you won’t be getting a premium to blue book.

Unfortunately prices are all over the map on 80s.
So if you paid 18k......and there’s some out there for $9k with similar miles /similar condition...you are only going to get $9k at most.

How many miles on this one????

 

[greentruck]

SNIP
I do not want to deal with a salvage title. It’s a pain in the arse as CA requires a bunch of checks at local state gov offices which is a major time suck. One of the benefits of buying this 80 was to add the parts and getting some or all of it back should I ever sell due its pristine condition and documented ownership history on this very forum.
SNIP

What kind of parts were added? Some parts add value. Like a new ARB with a nice phat Warn. Some parts don't matter. I just installed $2000 worth of parts on my front axle. Normal maintenance. Doubt I'd get a penny for any of it if I totaled it tomorrow. Even that often depends on if it's covered under a special value add-on to the policy (sorry, I don;t speak ins co lingo).

Don't know your specifics, but you don't always get back what you put into something. Just the way the world works. Get what's coming to you, but read the policy carefully enough to be realistic abut that. It saves a lot of back and forth if everyone is at least on the same page (although getting them to admit that can be dodgy at times).

 

[Kaninja]

That sucks. I know how it feels when your pristine baby gets smashed.

I had a perfect condition low mile '94 Toyota Pickup 4x4 with $10k in mods. It was stolen, stripped, and torched. Needless to say Insurance company offered me a stupid number. I held out and threatened to get a lawyer. The initial offer to what I ended up with was a $7k swing. Insurance companies make profit by NOT paying out.

Best of luck.

 

[super40]

I battled with my insurance company for 2 months over $. and they would not budge. so I got an attorney and told him what I wanted $$ . a week later I got a check for the full amt I wanted. it turned out that he was buddies with the insurance adjuster.

 

[COYS]

That sucks. I know how it feels when your prostine baby gets smashed.

I had a perfect condition low mile '94 Toyota Pickup 4x4 with $10k in mods. It was stolen, stripped, and torched. Needless to say Insurance company offered me a stupid number. I held out and threatened to get a lawyer. The initial offer to what I ended up with was a $7k swing. Insurance companies make profit by NOT paying out.

Best of luck.

Thanks for the encouragement and understanding, friend. I will be switching insurance providers after this experience with full understanding theirs is a for-profit vertical. I get that, but this claims processing call center approach with a local agent who simply spits out quotes makes it an easy decision.

 

[scottryana]

Hmm tough one. I know when I had my accident with my truck a '96 with 130k miles the original offer was to total it and value it at $9k. I did have about $15,000 in receipts and they revalued the truck at $16,000 and fixed it. I would see if the owner prior to you can dig up any receipts.

 

[COYS]

May be a stretch, but does anyone have an 80 series friendly third party appraiser in Los Angeles that I can hire? Thank you.