I was hit a couple weeks ago and repair cost is about $9k. Just body damage. This was in absolutely perfect mechanical shape. Brake master cylinder and all components replaced at Toyota, radiator replaced at Toyota, KO2s with 5k miles, new OEM CV boots, new OEM windshield about 2 months ago. They offered me $13.5k and around $8k if I keep it with a salvaged title. Trying to see if I can get some added value for everything I’ve done in the past year. At a loss of words because I was planning on keeping this forever. Not sure what to do now. If I had no other choice I’d love to find a 06-07 to replace it. Any advice?
Insurance just totaled my LX. Not sure what to do now.
- Thread starter TexusLexus
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$13.5???????
They’ll fix it and let you keep it plus you get a check for 8k? If that’s the case let them fix it and cut you a check if you were going to keep it “forever” then I wouldn’t worry about the salvage title.
- Thread starter
- #4
No they won’t fix it. Just as is plus the $8k. Problem I forgot to mention is it’s my daily for now. I can’t drive a car without full coverage as I don’t want to risk that. Way too many uninsured drivers around here.
Are you saying that’s good or too little?
Will they not insure full coverage on a salvage title?
That stinks- I had hagerty agreed value but after 2 years I dropped it just too expensive so I’m rolling the dice on a similar deal if it happens to me.
- Thread starter
- #6
No. I’ll only be able to get liability in case I hit someone.
I've been where you are man, Take the 13,500 and move on.
Once you source parts and have it painted you are probably 3,500- 4,000 into it if you can replace the doors and fender yourself. If you have to pay someone add another 2,000 to that price. Then you'll have a salvaged title truck that isn't worth what you have in it.
With 13,500 cash in hand there are a lot of options out there now. This isn't 2021 these trucks are returning to reasonable price point.
Jim
Once you source parts and have it painted you are probably 3,500- 4,000 into it if you can replace the doors and fender yourself. If you have to pay someone add another 2,000 to that price. Then you'll have a salvaged title truck that isn't worth what you have in it.
With 13,500 cash in hand there are a lot of options out there now. This isn't 2021 these trucks are returning to reasonable price point.
Jim
2001LC
SILVER Star
WTF! Looks very fixable. Unless frame damaged. Is it?
I'd be inclined to keep and take the $8k, maybe push them for $10k. Buy some slider, have door and fender replaced or repaired for $3 or $4k, some paint. Be like new!
I do like 06-07's, redindments and extra get up and go. But a 2000-02 depending on miles & condition. Has value. I hate to see go to copar. They bid up to ridiculous high prices. Insurance show corpar value at $8K, in most recent bidding. But if dealing with others insurance, you did not have to disclose your add on. You can get more with receipt.
I'd be inclined to keep and take the $8k, maybe push them for $10k. Buy some slider, have door and fender replaced or repaired for $3 or $4k, some paint. Be like new!
I do like 06-07's, redindments and extra get up and go. But a 2000-02 depending on miles & condition. Has value. I hate to see go to copar. They bid up to ridiculous high prices. Insurance show corpar value at $8K, in most recent bidding. But if dealing with others insurance, you did not have to disclose your add on. You can get more with receipt.
Well, I know folks who do that much on a successful wheeling trip. If it's purely cosmetic, cancel your claim, find a door and fender in the same color and tell the insurance company to stuff it. You can have it repaired for under a grand, I'd bet.
These trucks do not do well with insurance providers. Your options are: 1- get a stated value policy, 2- take the risk knowing it won't end well in a big accident, 3- Learn how to game the insurance system, or 4- what I suggested above. Repair it yourself.
These trucks do not do well with insurance providers. Your options are: 1- get a stated value policy, 2- take the risk knowing it won't end well in a big accident, 3- Learn how to game the insurance system, or 4- what I suggested above. Repair it yourself.
Be careful-Stated value policy is under the discretion of insurance/under writer. They will fight tooth and nails not to pay out even though you are paying the "stated value" policy. Not saying always but forums and reviews says otherwise.
Boooo.Be careful-Stated value policy is under the discretion of insurance/under writer. They will fight tooth and nails not to pay out even though you are paying the "stated value" policy. Not saying always but forums and reviews says otherwise.
I also just learned that the state you're in has a hand in this as well. Going through it on my 560SEL which was hit by a deer last week. I have it insured to match my investment in it, but my adjuster just mentioned that GA will only allow repairs up to the salvage value. If that's based on book and not my stated value, then I'm hosed.
Good thing I'm not registered in GA
I guess that last sentence is what really matters and perhaps why youve done that….otherwise I’d see who’s responsible for selling me an illegal contract…Boooo.
I also just learned that the state you're in has a hand in this as well. Going through it on my 560SEL which was hit by a deer last week. I have it insured to match my investment in it, but my adjuster just mentioned that GA will only allow repairs up to the salvage value. If that's based on book and not my stated value, then I'm hosed.
Good thing I'm not registered in GA
Happy new years everyone
It's also possible I misunderstood what he was saying. It was enough for me to be glad they're not GA tags.
Keep it and take the money. Salvage title doesn’t mean much on a 20+ year old vehicle.
Malleus
Far west of Siegen
I'll give you $10k for it.
- Thread starter
- #17
With the salvaged title? If so PM me.
If you can’t get full coverage like you want with the salvaged title, then it sounds like you need to take the 13.5k (or negotiate for a little more - it’s a lower mileage rig) or take the 8k and try to sell it privately (maybe you can get 8-10k and someone who doesn’t need full coverage and can do the bodywork).
Formerjeeper
SILVER Star
I have some recent experience in this, just not on my Land Cruiser.
We live in Ohio and have State Farm. My teenage daughter had an accident and the damage was fairly minimal but insurance chose to consider it totaled. The car (older Prius) was in excellent mechanical condition like yours, so we bought it back with the salvage title.
In our case, State Farm will still provide full coverage in our state, which is part of why this worked for us. Worth double checking to see if you can get full coverage either with your insurer or a different one.
Search Facebook for diminished value claim. There is an insurance consultant/independent adjuster somewhere in the southeast, North Carolina if I remember correctly, who specializes in this and typically has substantial success - spending $500 could save you 3K to 5K.
PM me if you want to connect and talk in more detail. Happy to help and I would hate to see you get rid of that. If you do decide to move on from it, there is a guy here in Ohio that specializes in parting out land cruisers, and I’m happy to connect you with him also.
We live in Ohio and have State Farm. My teenage daughter had an accident and the damage was fairly minimal but insurance chose to consider it totaled. The car (older Prius) was in excellent mechanical condition like yours, so we bought it back with the salvage title.
In our case, State Farm will still provide full coverage in our state, which is part of why this worked for us. Worth double checking to see if you can get full coverage either with your insurer or a different one.
Search Facebook for diminished value claim. There is an insurance consultant/independent adjuster somewhere in the southeast, North Carolina if I remember correctly, who specializes in this and typically has substantial success - spending $500 could save you 3K to 5K.
PM me if you want to connect and talk in more detail. Happy to help and I would hate to see you get rid of that. If you do decide to move on from it, there is a guy here in Ohio that specializes in parting out land cruisers, and I’m happy to connect you with him also.
