Tree Fell on my 04 100 series. What would you do? (1 Viewer)

[WhySo100Serious]

So I'll make a long story short but a tree brach fell on my truck while I was away. Insurance came in and said there are $14k worth of damage and the truck is worth $17k so they are considering it totaled. See the estimate below.

I now have to decide if I want to buy it back from them or take the buy out. It is an 04 with 350k and some previous body damage. Not the best truck but a solid runner with no other issues.

Buyout insurance keeps: $17k
Buyout I keep (I "pay" 6500 for the car with a salvage title) $9.5k

What would you do? Consider I live in Cali where salvage titles are a pain in the ass and I dont have a lot of space to work on it. If anyone wants to buy it up for the insurance price I guess DM me haha

 

[aedgington]

Are you sure it would be a salvage title? There's a big difference between a total loss vehicle and a salvage title vehicle.

 

[hoser]

Maybe.... (no affiliation... just a pic from their IG)

A friends vehicle in CA was totaled out and now has salvage title (and still has full coverage). I can ask what ins company he has.

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[WhySo100Serious]

Are you sure it would be a salvage title? There's a big difference between a total loss vehicle and a salvage title vehicle.

Yes. Insurance deemed it totaled so if I buy back it would need to be titled as a salvage

 

[3_puppies]

is all the damage on the roof?
doors all close and seal?
sunroof OK?
windshield still sealed?

still your choice
sell for $17,000 OR buy it for $9,500 plus an extra $7,500 in your pocket

could you find another similar 100 for $17,000?
could you find a similar damaged 100 for $9,500?
salvage title only matters if you are selling it
would your current insurance still cover it for liability?

AFAIK in my state any totalled vehicle over 20 years old does not get a salvage title, you get a clear title.

 

[3_puppies]

Are you sure it would be a salvage title? There's a big difference between a total loss vehicle and a salvage title vehicle.

could you explain the difference?

 

[abuck99]

Buy back is too high. With 350k on it, think it would bring maybe 3k or 4k at auction.

I’d take the 17k and walk- find another one when the time is right.

 

[MountaineerLC]

What's damaged? The pics make it look like nothing more than the factory rack.

 

[3_puppies]

What's damaged? The pics make it look like nothing more than the factory rack.

looks like a dent in the roof directly over the driver behind the windshield.

 

[WhySo100Serious]

to be clear the buy out price is $6500. The dent is behind the DVD player around the center rr1 passenger. If you didnt notice a small crease in the head liner from the interior you wouldnt notice. other than that nothing. Sunroof works and all the doors and everything are fine

 

[AlpineAccess]

In the words of The Steve Miller Band, "take the money and run"

17k for that vehicle is a primo deal, you have good insurance.

Buying it back is good if you don't mind driving it with that damage. But I wouldn't buy it back intending to repair it other than putting a full Gamiviti rack on it to hide the damage.

 

[abuck99]

to be clear the buy out price is $6500. The dent is behind the DVD player around the center rr1 passenger. If you didnt notice a small crease in the head liner from the interior you wouldnt notice. other than that nothing. Sunroof works and all the doors and everything are fine

"Buyout insurance keeps: $17k
Buyout I keep (I "pay" 6500 for the car with a salvage title) $9.5k"

My eyes went straight to $9.5k- what does figure represent? buy out plus what you owe?

Id still take $17k for a 350k vehicle and not think twice about it.

 

[peacesells63]

That buy back price is pretty crazy. I bought back a totaled 2000 with 120k less miles for $2900 in 2020. Insurance paid out $15,200 including us keeping the truck. Mine had frame damage though, that might change the buy back value.

 

[hoser]

I’ve been told the salvage value is negotiable but you would have to find comps… which might be difficult to find. That vehicle is a great body parts donor.

 

[aedgington]

could you explain the difference?

Total loss is just an insurance ruling which is entirely based upon cost to repair versus value. While it -is- picked up by reporting agencies like Carfax and AutoCheck, it's not an actual branding on a title. For example: you take all three rows of seating out of a 100, you'll probably get a totaled claim... but the vehicle isn't damaged, nor would there be safety/drivability concerns if it were repaired (seats replaced).

Salvage is a branding on a title that makes it illegal to operate -- the DMV (or whatever) has declared the vehicle unsafe/unfit for road operation and for salvage only. Now a salvage vehicle can be repaired and a rebuilt title applied for, but you still have a branded title either way (salvage or rebuilt).

TL;DR one's a bean counter label, the other is a title branding. While total loss vehicles are often declared salvage, one does not automatically equal the other.

If I'm reading the OP correctly and it's keeping the truck (damaged) and getting $9500, that's a solid deal -- as long as the title isn't branded. If it is, $17K is a stellar valuation for a 350K truck.

 

[Bisho]

I had an old Ford Ranger totaled in CA. I bought it back from USAA for less than the new tires I’d just put on it, and had my teenage son repair the front end damage as penance. USAA informed the state, and I was sent a salvage title. I had to have the truck inspected by a certified inspection station, and then I could get a rebuilt title and license it.

 

[rock climber]

I'd take the money and then buy another one not in CA (or the west coast). I've seen quite a few in Denver lately for under $10k with right around 200k miles.

If you have an emotional attachment to it and really just want to keep it, you can have the insurance cut you a check for repairs and not salvage it. Meaning they'd pay you the difference of $17k less the salvage value of $6,500.

 

[tjgreg]

17k would get you a much lower mileage LC in better shape. I'd take the cash.

 

[Jwoodywild]

FWIW I had a nearly exact situation. I had a tree fall on my 2003 - had about 250K miles on but looked and ran great. Sunroof smashed and pillar damage. Had about $6500 worth of damage per the Lexus Body shop. I have USAA and they never discussed a total - just paid for the repair. We bought the truck at the start of the pandemic for $11,500 but certainly felt like we could get more if we sold it.

 

[hoser]

17k would get you a much lower mileage LC in better shape. I'd take the cash.

The OP didn’t specify but usually the payout includes taxes and registration on the replacement vehicle. So could be more like $15.5k plus taxes and registration in CA equals $17k. OP would have to clairify.