1996 LX450 Totaled by Insurance - How to Find Comps? (2 Viewers)

[MA LX450]

My 1996 LX450 with 350,000 miles in rough condition was involved in an accident involving the front and rear bumpers. I wasn’t at fault, but the insurance company has declared the vehicle a total loss. Unfortunately, they claim the actual cash value is only $1,200. I’m looking for some help to show the insurance company that the value of the LX450 market in my area is higher than that. I’ve searched Facebook Marketplace, eBay, and Copart and found a few vehicles in my area that are close to my car’s condition.

I'm looking for help to find more comps or get some advice on how to proceed? I'd like to buy back my LX450

1997 Lexus LX450 for sale by owner - Ocean Bluff, MA - craigslist - https://boston.craigslist.org/sob/cto/d/ocean-bluff-lexus-lx450/7659133130.html
VIN: JT6HJ88J8V0186512 | LEXUS LX450 1997 car history - Stat.vin - https://stat.vin/cars/JT6HJ88J8V0186512
VIN: JT6HJ88J8T0142247 | LEXUS LX 450 1996 car history - Stat.vin - https://stat.vin/cars/JT6HJ88J8T0142247

 

[Comet]

Don’t take the first three offers. Not sure I can be of anymore help than that.

 

[scottryana]

That’s how you do it. Find comparable cars in your market that have sold.

 

[JonChimpo]

Show them the comps. I would find every similar LC within 2500 miles. They are rare enough. Don’t accept their low ball offer. Hike it up the chain multiple times. Squeaky wheel gets the grease.

 

[leonard_nemoy]

Yep, it will take time but don't accept their offers and just keep telling them you want your rig restored to the condition before the wreck.

Search auto trader, Facebook, and the ih8mud classifieds for comparables. They won't accept auction sights like eBay and bat unfortunately. Except eBay does work if it's a buy it now listing.

Be patient and goodluck

 

[SoTexCruiserDoc]

Whatever you have the time and energy to fight is reasonable. But good luck. My hopes wouldn’t be too high. I say that partially based on recent insurance company experience after having cats stolen from my ‘97 LX 160K mile triple locked truck. What I got from them wasn’t worth the effort. At this point, I consider my truck self insured. Even stated value policies and similar have their limitations. I’ll bet it’s rare someone gets a full value claim paid on a high value LC short of unrecovered theft. JMO

 

[Kernal]

All the above:

Either way, the insurance company adjuster's job is to low ball you then sell the hulk to a Salvage yard for X times what they paid you for it.

I got $4500 for minor water damage (wet carpet with ~6-8" patch of light surface rust on floor and for possible future issues) from a large Glass installation chain for a poorly sealed windshield. Vehicle had over 300,000 miles on it at the time. No salvage title and I'm still driving that 80 every day.

 

[MA LX450]

^ Thanks everyone for the feedback. All good advice and I will follow the approach.

I got advice from repair shop to keep vehicle comps within 50 mile radius of Boston.

Question: What are good website for finding `rough` condition LX450's that have sold?

Note:

• CoPart 3rd party website are great for searching sold vehicles. Should I use Copart for comparison?
• Ebay advanced search doesn't appear to show sold vehicles.
• Facebook Marketplace has good posting, but I'm not finding a way to search sold vehicles.

 

[manofthewoods]

^ Thanks everyone for the feedback. All good advice and I will follow the approach.

I got advice from repair shop to keep vehicle comps within 50 mile radius of Boston.

Question: What are good website for finding `rough` condition LX450's that have sold?

Note:

• CoPart 3rd party website are great for searching sold vehicles. Should I use Copart for comparison?
• Ebay advanced search doesn't appear to show sold vehicles.
• Facebook Marketplace has good posting, but I'm not finding a way to search sold vehicles.

I bought my 450 on Craigslist. Will that help?

 

[Mixelplix]

I went through this a while ago, and I just hired a 3rd party appraiser for about $300.

In my experience, you have two options - spend a lot of time and effort, and hope for the best. Or pay for a professional appraisal, email it to them, and point your finger at it every time they offer you something lower than the stated value.

I used:

Auto Appraisal Group
PO Box 1030
Crozet VA 22932
800-848-2886 ext. 1
www.autoappraisal.com

If I recall correctly I got $21,500 for a vehicle which I was first offered $6,500.

 

[Comet]

I went through this a while ago, and I just hired a 3rd party appraiser for about $300.

In my experience, you have two options - spend a lot of time and effort, and hope for the best. Or pay for a professional appraisal, email it to them, and point your finger at it every time they offer you something lower than the stated value.

I used:

Auto Appraisal Group
PO Box 1030
Crozet VA 22932
800-848-2886 ext. 1
www.autoappraisal.com

If I recall correctly I got $21,500 for a vehicle which I was first offered $6,500.

This is money well spent. I will keep this information for a rainy day.

 

[leonard_nemoy]

Make the insurance company find you comparables. If they are showing you 97 lx450's for $1500.00 than I guarantee you can show them how they are not really comparable because your rig was running and the $1500.00 comparable isn't.

 

[MA LX450]

Make the insurance company find you comparables. If they are showing you 97 lx450's for $1500.00 than I guarantee you can show them how they are not really comparable because your rig was running and the $1500.00 comparable isn't.

^ I had heard this. I also heard from my mechanic who deals with this insurance company (Mapfre) that I should send the comparables immediately and not wait for Mapfre to pull together comparable vehicles.

 

[leonard_nemoy]

^ I had heard this. I also heard from my mechanic who deals with this insurance company (Mapfre) that I should send the comparables immediately and not wait for Mapfre to pull together comparable vehicles.

Who is your insurance?

When I went through this experience the at fault drivers insurance company was jerking me around. My insurance was state farm and state farm was willing to handle my claim. Once the claim was settled state farm went after the at fault drivers insurance for reimbursement.

This might be something you should look into.

 

[MA LX450]

Who is your insurance?

When I went through this experience the at fault drivers insurance company was jerking me around. My insurance was state farm and state farm was willing to handle my claim. Once the claim was settled state farm went after the at fault drivers insurance for reimbursement.

This might be something you should look into.

Insurance co. on the LX450 is Safety Insurance. I did not have comprehensive insurance. Safety employees have been helping to answer questions. I'll check if they can assist.

 

[COYS]

I went through this a while ago, and I just hired a 3rd party appraiser for about $300.

In my experience, you have two options - spend a lot of time and effort, and hope for the best. Or pay for a professional appraisal, email it to them, and point your finger at it every time they offer you something lower than the stated value.

I used:

Auto Appraisal Group
PO Box 1030
Crozet VA 22932
800-848-2886 ext. 1
www.autoappraisal.com

If I recall correctly I got $21,500 for a vehicle which I was first offered $6,500.

I did the same, but used this guy.

neil thomas
West Coast Auto Appraisals
310 827 8400 ph
310 739 7180 cell
www.thecarappraiser.com
like us on Twitter

He got me $22K for a vehicle I bought for $18K w/ insurance coming at me with $10K.

 

[thatcabledude]

At this point, I consider my truck self insured.

Same here. I have liability only on all my vehicles.

 

[sbman]

If you are not at fault and are collecting on the other party's insurance, you do NOT have to accept any offer from them. You also do not have to accept them 'totaling' it. You have no contract with them, and have signed no paperwork with them. If their best offer is too poor, take the at fault party to small claims, and make sure you let the at fault parties insurance know that you are going to do so. Be prepared with plenty of comps, and cost estimate(s) for repair, a police report showing who is at fault. Any offer they make must include comps for your review before you even think about agreeing to anything.

 

[Kernal]

For a vehicle like an LX450/80 series you are not limited to comps within 50 miles, that's BS. People fly across country to buy one of these or import them from outside the US.

Hiring a professional appraiser sounds like a good idea.

 

[rhc404]

Sent you a PM. I bought a 96 LX450 with 347k miles earlier this year from a dealer and paid a little more for condition. Should make for a good comp.