LX450 likely totaled...value ?

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JAPFPE

JAPFPE

Joined
Mar 18, 2005
Threads
25
Messages
141
Location
Fayetteville, NY
Our beloved 1997 LX450 was hit by a drunk-driver in front of our house two nights ago. Our truck was legally parked in front of our house and was hit in the DS rear quarter by a 2003 full-size GMC pick-up going probably 45MPH. The driver was not going anywhere since he was standing-up in the cab of his truck (it had flipped on it's side). The driver was clearly intoxicated since he could barely stand and was subsequently arrested by the LLEA for DWI. We are awaiting an estimate from our sutobody shop. The truck was in very, very good condition and was well maintained. I started looking at local ads and came across this truck. Comments?:

1997 Land Cruiser
$9,000 OBO
135K miles

* Power seats / windows / doors / moon roof
* AC / front and rear heaters
* Factory lockers (front, center, rear)
* Factory delete OEM roof rack & rear deflector (were known to cause rust)
* Third Row folding seats – sits 7.
* Factory Alloy Rims – a bit of road grime
* Toyo Open Country Tires (285/75/16 = 33”), less than 10K miles
* ECB Aluminum Front Bumper / Bull Bar (very rare in the U.S.)
* OEM Scion In-Dash 6 Disc Changer and Sony Speakers in the front doors
* Class III hitch, 7 pole plug, and Tekonsha Prodigy brake controller
* Regular oil and transmission changes (every 4-7K)
* Brand new brakes
* New alternator this spring, battery 1.5 years old
* HIR headlights

Negatives:
* Leather seats are looking a bit worn in the front, but intact.
* Antenna Mast does not automatically go down, works fine in the up position..


asking price is $9k.
 
Also.....

Any opinions as to possible transmission damage since the vehicle was parked (and thus the transmission was in PARK) when it was hit and the truck ended-up 200ft away.

Thanks!
 
Your title makes it sound like you are asking the value of your wrecked lx450 but you are then showing us an ad to a 97 fzj80?

I couldn't begin to guess the value of your lx but the lc sounds a bit on the high side at 9k, at least it would be down here in NC.

As for the tranny damage question I'd think that there would be some if it moved 200ft.
 
With an insurance claim comps are your best friend. Find all the highest comps you can, you are going to need them. Find all your receipts for work/mods done in the last year.

I can't even guess what they will offer. Be ready for the shock and then just step back to consider your options.

Good luck!
 
The insurance co is not so sophisticated as to find "comps." They will hit KBB and NADA and punch in the numbers and get you a number.

In the end I'm sure you'll have MORE than enough $$$ to replace that truck with something very very nice. Cuz guess what...no body wants old FZJs and LX450s these days...along with Hummers and other big ass gas-sucking SUVs/trucks!

The tranny? Who knows...probably fine if you've got no problems with the parking pawl holding the truck still at the moment...does it drive ok right now?
 
Fly Rod said:
With an insurance claim comps are your best friend. Find all the highest comps you can, you are going to need them. Find all your receipts for work/mods done in the last year.

I can't even guess what they will offer. Be ready for the shock and then just step back to consider your options.

Good luck!
Click to expand...

I would go one step further and give them reciepts for every upgrade that you have done and find high comps as stated. KBB and NADA don't always = resale in your area. Good luck, I hate dealing with insurance co.s
 
Uh...yeah I would look at comps...and then say gimme the KBB or NADA $$$.

My truck:

1997 LX450 with 165-ish-k on it when I bought it

KBB value today $11,550! for "excellent" and suggested retail

NADA value today $10,050 for "clean retail"

HAH...I paid almost half of the high number a year ago for my truck with factory lockers and in super nice shape save for a few minor mechanical issues.

Plus this argument of finding "comps." It's a car boys, not a piece of real estate thus what similar vehicles sell for is a matter of hearsay, not a matter of public record.

So if you are offered ANY where close to 10k for your truck you'll be f-ing making out like a bandit!

supramann94 said:
I would go one step further and give them reciepts for every upgrade that you have done and find high comps as stated. KBB and NADA don't always = resale in your area. Good luck, I hate dealing with insurance co.s
Click to expand...
 
Good Morning...I have an update on the Lexus. I received a call from a GEICO appraiser that reviewed my truck. He stated that it was a total loss and provided figure of $7400 (plus I get to keep the vehicle). I advised him that was below the value of the truck and that my research determined the value was closer to $10,500. He stated that he could raise the value to maybe $8,000. The repair estimate is around $8,100.
I then called USAA (my insurer and the company who is working teh claim) and advised them that the GEICO estimate was a low-ball and that I expected that the truck be returned to it's pre-accident condition. USAA stated that they were not committed to return the truck to its pre-accident condition...WTF!? They further more stated that I had two (2) days to accept GEICO's payout and that the rental car would be pulled in two days as well. At this point, I was extremely pissed and asked the representative about other legal recourse with the DWI driver. They stated that I had no avenue for recourse with the driver other than via his insurance company.
I'm at a total loss why I'm facing losing money after a DWI driver (who is insured by GEICO) hit my legally parked truck! I just want the truck back or a reasonable market value for it if it is totaled.
My priorities are:
1. have my truck repaired and covered by the associated life-time warranty at the cost of GEICO. This is the best option since it would cover any latent damages (drive-line) that may not be self-revealing at this time.
2. Be paid a reasonable value for the truck such that I could purchase something similar, i.e. well-maintained truck.

I keep using the term "gross negligence" which they always correct me on since no personal injury occured!
 
Repeat after me: take the money, and run. You just worked out a fine deal.

Unfortunately, your research to determine what the truck is worth doesn't mean much. It is illegal to profit money on a claim, as in, illegal. Against the law. If the repair is estimated at 8100 and they offered you 8000, well, isn't that EXACTLY what you were asking for? Having your truck repaired? Don't tell me you are quibbling over 100 dollars, which is about 1% of the repair cost.

I would take the 8k, keep your truck for whatever parts you can strip (arb, lift, etc) and buy a new truck. You don't want a truck that had 8k sunk into repairs anyways.

There are times when an insurance company tries to screw you. This is not one of them in my opinion. Your truck has 130k+ miles on it. I doubt it's worth 10500. No offense, but it's not. I bought my truck for 10k, immaculate, with lockers. 70k miles.

JAPFPE said:
Good Morning...I have an update on the Lexus. I received a call from a GEICO appraiser that reviewed my truck. He stated that it was a total loss and provided figure of $7400 (plus I get to keep the vehicle). I advised him that was below the value of the truck and that my research determined the value was closer to $10,500. He stated that he could raise the value to maybe $8,000. The repair estimate is around $8,100.
I then called USAA (my insurer and the company who is working teh claim) and advised them that the GEICO estimate was a low-ball and that I expected that the truck be returned to it's pre-accident condition. USAA stated that they were not committed to return the truck to its pre-accident condition...WTF!? They further more stated that I had two (2) days to accept GEICO's payout and that the rental car would be pulled in two days as well. At this point, I was extremely pissed and asked the representative about other legal recourse with the DWI driver. They stated that I had no avenue for recourse with the driver other than via his insurance company.
I'm at a total loss why I'm facing losing money after a DWI driver (who is insured by GEICO) hit my legally parked truck! I just want the truck back or a reasonable market value for it if it is totaled.
My priorities are:
1. have my truck repaired and covered by the associated life-time warranty at the cost of GEICO. This is the best option since it would cover any latent damages (drive-line) that may not be self-revealing at this time.
2. Be paid a reasonable value for the truck such that I could purchase something similar, i.e. well-maintained truck.

I keep using the term "gross negligence" which they always correct me on since no personal injury occured!
Click to expand...
 
Take the money, you can buy a sweet 80 for 8k + you have a 2nd truck you can take what you want from and part out. You'll come out ahead. just my .02.

On flip side I hear your frustration in the case that it wasn't your and now its your problem.
 
LOL.....I'm going to need to find somewhere else to live if I keep the truck.......I forgot to say that our single car garage is sheltering a 1995 LC with lockers that was rolled onto the DS (Unfortunately the same side i was hit...damn). I bought it off this site about 18 months ago with the idea of using flipping the lockers to my truck.

I dunno, maybe I'll just settle and purchase a 100 series. There will be a large 80's salvage sale if that happens!

Just to clear up the facts, the insurance companies initial offer was $7400 and I get to keep the truck. The repair are estimated at $8100. I could rather easily get $8,000 from the insurance company. The truck has a new ARB winch bar and a OME stock spring/shock kit and Revo 285's.
 
3 months ago I totaled my 1997 LX450. Insurance determined it a loss, and paid out 9000, minus the 500 deductible. I could have purchased the truck back for 2900, but determined it not to be worth it.

The insurance co used comps and book value to determine price. I had as long as I wanted to take to get them an answer, rental car was not an issue for me. My truck was in excellent shape (pre-wreck) with the exception of a small tear in the drivers seat center panel. It had 147,000 on the odometer.

Good luck, 8000 and keeping the truck is better than I fared.
 
Yeah, that's a good deal for you. Take it.



Then sell me your interior door panels. :D

(vultures are already circling...)
 
X15 take the truck and the green backs!...and I as all others hear your frustration about the whole thing. I would be peeved too it's a BS deal but if they pay you $8k and you get to keep the truck...dam...that's a smoking hot deal from where I'm sitting.

But from first-hand experience, parting cars out sucks. I don't know if I'd ever do it again. Maybe, but it is for sure a PITA.
 
The insurance adjuster stated that the truck was worth $300 (low-end) salvage. He offered $7400 and I get the truck.

I think a 100 series is looking more like an option all the time!
 
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