Rolled my 81. I need your help!

[94landcruiser]

Hey guys.

Already called the wrecker.
They are not going to touch it.
They were cool.
They said it was going to sit there for 2 weeks until auction.
So he told me to deal with it soon.
No worries, because that is the top of my priority list.

I have already called ICBC.
They now know I am interested in a buy back.
Should meet with them today sometime.
Now I am just waiting on the $$ value.

Cheers,
Nick

Good news. I suggest you look into getting an idea of what the wrecker was paying as you should not have to pay a cent more.

I want to let you know that from your posts here I think you are handling this in a very mature manner and you should be very proud that you can have such a stressful situation and walk through it in a (imho) very dignified manner.

 

[wussyPup]

Nick,

prior to the "what is it worth", and "how much to buy back" discussions, you may want to find out what's covered, and what is already/still yours becuase it wasn't covered by insurance - I'm thinking about your lights, hitch, winch, rack etc. - It's my understanding (and I would love to be wrong), that accessories are not covered; so they're yours and not ICBC's IMUEO in-my-un-educated-opinion)

you have a significant investment in accessories there - it may be worth paying for a legal opinion on their ownership before you "sign on the dotted line" - on the other hand, ICBC isn't as motivated to screw people over as some private insurance companies are - AFAIK, they want a quick, fair settlement that doesn't go to appeal or involve lawyers

g'luck, -Steve Now, off to get in line with the rest of the vultures...

 

[overton]

Interesting Thread

It's great you took all the pictures of your adventure. They will serve you well. You can now hit the 4x4 lecture circuit on keeping you vehicle "wheels down"! Seriously, I am thankful to.... (insert your God's name here) that you and your passengers were not harmed. The canoe looks trashed but it may have improved the outcome. Thanks for sharing as I will make my 15 year old son who is also named Nick read this thread.

Good luck finding a new rig.

 

[Greg_B]

A question for you to ask your adjuster Nick

1) Until you sign on the dotted line with ICBC, who owns your vehicle?

Thanks

gb

 

[nickw]

A question for you to ask your adjuster Nick

1) Until you sign on the dotted line with ICBC, who owns your vehicle?

Thanks

gb

I already know the answer.
I own it.

Going to meet with them now.
They low balled me at $20K with everything on it.
Way to low. Going to talk to them.

They are still working on salvage value.

Cheers,
Nick

 

[Beowulf]

Going to talk to them.

Take your receipts to document the value of the vehicle.

-B-

 

[nickw]

Just went to meet with ICBC.
The two girls I spoke to were very helpfull and very nice.
They are going to present it to the adjustor (he was away this afternoon).

I also got the salvage value.
It's $6000 plus tax.
So I will do a buy back.

Right now the adjustor said $20K for the truck.
I am saying $23,500-24K. I don't want to move on this, as I know it's a fair price.

True, I can be shown all the $20K trucks on t he auto trader. But they have no no lockers, no servcing, no service history, no work, no accessories, no new tires, no changed BEB, no guages etc.......

Thats stuff costs lots of money.
This truck cost over $26K so far (maybe $27K? things add up fast).
I think $23.5-$24 would of been a fair resale to somone else.
Considering what it had, and what had been done (what do you think a fair price is? You can PM me if you want?)
I will hold out for $23.5. It's only $3500 more than they are offering.
Not a big deal to them, but worlds different to me.

Right now my thought is, buy it back, take my gear off.
Resell it it bare bones, and try to break even?
Then buy another cruiser and re-outfit.
Seem fair?

Cheers,
Nick

 

[Beowulf]

I also got the salvage value. It's $6000 plus tax.

Right now the adjustor said $20K for the truck.
I think $23.5-$24 would of been a fair resale to somone else.
Seem fair?

Nick,
It's kind of a double edged sword. If you twist their arm to declare the truck's value +$4k you have to be prepared for them to up the salvage value; perhaps 1:1 ($6k => $10k)

Basically, you have to think through your reasoning for getting them to increase the value of the truck without increasing it's salvage value. Tough one.

Good Luck!
-B-

 

[Gold Boy]

nick - get icbc to put there offers in writing.

 

[Greg_B]

They low balled me at $20K with everything on it.

They are still working on salvage value.

Cheers,
Nick

So they have said everything attached to the truck (roof rack, bumber, extra lights etc) are part of the insured value of the truck? Did you have riders for extra insurance?

Thanks

gb

 

[Greg_B]

Nick,
It's kind of a double edged sword. If you twist their arm to declare the truck's value +$4k you have to be prepared for them to up the salvage value; perhaps 1:1 ($6k => $10k)

Basically, you have to think through your reasoning for getting them to increase the value of the truck without increasing it's salvage value. Tough one.

Good Luck!
-B-

Or negotiate a lower salvage amount?

gb

 

[nickw]

So they have said everything attached to the truck (roof rack, bumber, extra lights etc) are part of the insured value of the truck? Did you have riders for extra insurance?

Yup $20K for everything bolted to it.
Which also means $6000 salvage for everything bolted to it.
Sucky part is I will have to pay tax to buy my old truck back.
It has to go into there name, and then back to me.
There is no way just to give me the difference and avoid the tax.
If it was not a total loss (write off), I could just take a pay out on damage.
But now I can't.

I already thought about removing the extras and getting another pay out quote.
But they have to get another salvage quote, which will be about the close to the drop in price to the payout.
I.E Pretty realitive to eachother give or take a few $$$.

No extra riders.

Or negotiate a lower salvage amount?

That was my other idea (same as above). But the salvage price comes from Veron Auto wrecking. They have the contract with everything outside of the island and the lower mainland. The are willing to pay $6K, so my buyout is 6K.

If I drop the winch and other extras it might go down $1500-2000? But then my $20K goes down about the same amout. Might be able to pull a few hundred doing this, but not the $3500+ I need.

Right now I think my only wiggle room is on the value of the truck.
Only way to get more is drive the value of the truck up.
The $6000 is coming from an outside source other than ICBC.
So even if the truck value goes up, the amount Veron auto wrecking would offer is the same. Thus my buy out is the same.
I want the whole truck, not just the accessories.

So I presented my case for $23.5+.
We will see what the adjustor says.
If he does not want to give it to me, I will go to the next level.

The price I am asking I think is reasonable.
What do others think? Am I asking for more than its worth?

Cheers,
Nick

 

[nickw]

How many others here have over $25K into there HDJ81?
I would think lots do. After this, I would suggest an appraisal.
But others like Martin, who have more in than me could loose.

Who does cruiser appraisals?

After this, I would think every cruiser should have an appraisal.
This seems similar to me proving the value of my BJ60.

You better believe I will want one on my next cruiser.

Cheers,
Nick

 

[Martin White]

I have about 32K into mine, but I've had a lot of the work done at outside service facilities and I haven't held back (like a $3000 Alpine stereo). So I know if something like this happened to me, I'd lose, and fairly big. But it's my toy anyhow, so it serves more than one purpose. After my latest servicing, that number will go up. I'm doing the shocks (tough dog), springs, spacers, A pillar gauges, and a few other things. Actually to be accurate, I'm having those things done.

 

[wussyPup]

Thanks for all the extra info Nick,

So, first the good news, IMO. The salvage $ is already "fairly" established by "market" forces (i.e. Vernon Auto Wrecking) including all your toys. $6K is a low number IMO and that is good for you.

Next, is the valuation of your Cruiser, now you get to gather sale prices from reputable dealers with serviced, locked HDJ81 VX Ltd - this will get you over $20K easily, now you get to add on your ARB, lights, gauges, winch and snorkle - don't bother with the wheels/tyres and maintenance items - concentrate on the $ items that put your Cruiser ahead of the ones on the importers' lots. Also, provide them with prices people are willing to pay for used lockers from US 80 series; so that you can add that to the prices importers are asking for unlocked Cruisers.

G'luck Nick, I think you can make a solid case to improve the $20k payout without driving up the $6k salvage.

-Steve

 

[crushers]

this is the 2 edge sword that people need to be aware of, as you do additions to your truck get an appraisal done. here it is $100 per time AND your priemiums might go up to cover the additions but should something like this happen then you are fully covered.
you could also look into getting the truck independently appraised and submit that to them.
Vernon Auto... patooie <spit> one of the few places i really dislike...

 

[LandyLover]

I'd bet that if you were to NOT purchase the truck it would sell at auction for more than $6000.

ICBC, like any insurance compmany, has an interest in paying out low. If you can provide good evidence that your vehicle is worth more than what they are offering they would not be in much of a good position to argue. I would think for most write offs the owners would take the money and move on. Since people who drive unique vehicles like this one have greater knowledge, understanding, and affinity for landcruisers, they might realize that you are not being just a cranky "hardass" upset with the price and more of an owner that truely knows the value of the vehicle.

Literally cut out ads of vehicles that are the same or very similar to yours with the same accessories. Provide receipts of what you have paid, also. This makes for a hard case for ICBC to argue.

Cheers.

 

[cruiser_guy]

Vernon Auto... patooie <spit> one of the few places i really dislike...

Wayne, isn't it Interior Auto Wrecking that we are all talking about? Those are the guys that get ALL the 'Cruisers in B.C. and they are located in Vernon.

 

[Martin White]

Nick, if I can be of any help to you in doing a value assessment, give them my phone number. I can also fax receipts etc. if it will help. Let me know.

 

[crushers]

Wayne, isn't it Interior Auto Wrecking that we are all talking about? Those are the guys that get ALL the 'Cruisers in B.C. and they are located in Vernon.

yep, one and the same...