What are the specifics on how they arrived at that number?
It has served me well while it lasted....
- Thread starter umarali
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Idk. A quick Kelly blue book entry has it at $20k-$23k at fair condition. If anything I’d say their offer is on the low side of what I’d consider acceptable.
Yes, as mentioned above, did they provide any sort of rationale as to how they got the number.
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And nationwide search of older LXs with over 200k miles, the only result under $20k has 300k miles. I will say there are a handful of 08/09 trucks with 180-200k miles in the $19,5-$22,9k range.
Typical first cut lowball offer. You can either take it or use the comps and bluebook to go back at them for a higher number.
- Thread starter
- #47
to reach the number they used 3 comps. 1-124k miles-$29klisted and then they theirselves deducted mileage and condition and adjusted com @ $21k, 2. 150k miles- listed @ $24k and adjusted value they show is $17k. 3. 195k miles - listed @ $23k and adjusted they show is $19k and this concluded @ 19,974 for my vehicle.
not just tax tag title but i also recently put brand new TOYO tires all around. less than 500 miles ago put brand new OEM brake rotors and pads all around and repacked rear rotors.
not just tax tag title but i also recently put brand new TOYO tires all around. less than 500 miles ago put brand new OEM brake rotors and pads all around and repacked rear rotors.
What are the criteria they used to determine the condition of your vehicle? You will want to nitpick every detail and push back on everything.
- Thread starter
- #49
these are the comps. first issue i have is as circled first comp was taken in march and market has changed alot since march.
the other comps are 300-400+ miles from my location.
this is how they are calculating the comps. their adjustment is absurd to listing price.
this is KBB showing for the year and mileage. but can i use this valuation even though it is dealer price, not private party?
they also did not adjust towards any of these?
Look at the number for the deduction for condition: $3,169. I would want to know how they got to that number and dispute them on the specifics. I would also pull more comps from a broader geo as you’re more likely to find ones at a higher sale price.
If you can’t take the money and replace it for $19k, then it’s worth more than that. Every state is different but here kbb and nada have no place in the valuation. The insurance is using transaction prices, and at least in Ca, they give you sales tax on top. Cherry pick comparable trucks for sale across the country and send them a list for adjustment. In my case, they averaged the list I sent and sent me a check
- Thread starter
- #52
Where did you pull this list? i when do nationwide search for 2008 lx there are very handful out there and not a single one over 200k miles.
I'd just attack the condition adjustment, if your vehicle was in good condition before the accident (which it looks to be), then condition adjustment should be $0, as it is in as expected condition for the age and mileage. Then take your $23k check and roll. Or you could fight harder and probably get more.
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KBB, Blue Book, Edmunds, or whatever is a starting point. It means squat in the real world. The current market for Land Cruisers a premium for used vehicles that have been well maintained and properly care for.
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If you still have receipts for the work you had done, add that into your presentation to the insurance co.
I would even include several similar model years in your comparison as those would be reasonable replacement vehicles.
Just a note: replacing tires, fixing damage, or a car being extra clean, does not add to the value; it simply avoids a reduced value.
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- Thread starter
- #57
Talking to appraiser she said you can get all your answers regarding how the valuation was done from our vendor who does the valuation for us and provided me the 1-800 number. it is calles CCC. i am not calling third party vendor they are not the concerned party in my claim so i rejected and said i base my valuation on kbb.com and here it is. lets see what they say since i said i will accept value at $24k + the tires and brakes added to it and sent her the invoice for brake parts. i did all the work myself so labor isnt included. If i get $24k i think it will be fair and then i can ask for TTL added to it and the inconvenience and blah blah.
I did not get rental since they told me it is on reimbursement basis so you will pay for it and we will reimburse you. i did not wanna get rental and then they try to pay me fraction of it.
Decided not to go with lawyer since wife did not want to file medical claim after we called few law companies and they all explained they will send us to multiple visits and chiropractors and will take atleast year to get settlement. wife said it feels like wrong money and i dnt want it so just stay truthful and take what we get.
I did not get rental since they told me it is on reimbursement basis so you will pay for it and we will reimburse you. i did not wanna get rental and then they try to pay me fraction of it.
Decided not to go with lawyer since wife did not want to file medical claim after we called few law companies and they all explained they will send us to multiple visits and chiropractors and will take atleast year to get settlement. wife said it feels like wrong money and i dnt want it so just stay truthful and take what we get.
- Thread starter
- #58
So update:
Some back and forth with appraiser after sending pictures of clean inside, they adjusted value of vehicle to $22,019. Now the adjuster offered me settlement of $22,019 if they keep the vehicle and $7,602 if i keep the vehicle which ofcourse im not going to keep.
I asked them to include tax title and licensing since i need to pay that and i am not going to pay from my pocket to replace my vehicle to which they plain refused saying in state of texas we do not have to give you tax title license for vehicle, only they vehicle value.
second they are not willing to pay for a penny for inconvenience which has caused its been a month since vehicle accident and they took 2 weeks to even authorize rental (which i chose not to get) and they are saying we are not paying anything over the settlement amount we already offered.
to top it off they said with 48 hours of receiving this settlement offer your rental expires so we will not pay beyond that, whereas the timeline to issue money is they will recieve title and they will issue check which will take abt 7-10 business days and they are not concerned how i am supposed to be without rental and buy if i have not had money from them.
i have already threatened them that i honestly did not want to go this way but i believe i will have attorney contact you now. They were like ok.
At this point i am considering not going attorney route and just accept whatever they are offering and call it a day since attorneys want to file medical claim route because that is only way for them to recoup money over property damage settlement.
What are yall`s thoughts?
Some back and forth with appraiser after sending pictures of clean inside, they adjusted value of vehicle to $22,019. Now the adjuster offered me settlement of $22,019 if they keep the vehicle and $7,602 if i keep the vehicle which ofcourse im not going to keep.
I asked them to include tax title and licensing since i need to pay that and i am not going to pay from my pocket to replace my vehicle to which they plain refused saying in state of texas we do not have to give you tax title license for vehicle, only they vehicle value.
second they are not willing to pay for a penny for inconvenience which has caused its been a month since vehicle accident and they took 2 weeks to even authorize rental (which i chose not to get) and they are saying we are not paying anything over the settlement amount we already offered.
to top it off they said with 48 hours of receiving this settlement offer your rental expires so we will not pay beyond that, whereas the timeline to issue money is they will recieve title and they will issue check which will take abt 7-10 business days and they are not concerned how i am supposed to be without rental and buy if i have not had money from them.
i have already threatened them that i honestly did not want to go this way but i believe i will have attorney contact you now. They were like ok.
At this point i am considering not going attorney route and just accept whatever they are offering and call it a day since attorneys want to file medical claim route because that is only way for them to recoup money over property damage settlement.
What are yall`s thoughts?
