Hit by uninsured driver - total loss?
04-02-2010, 08:13 AM
#21
Wow, that's a nasty collision. I'm glad you came out okay. I had my AP1 totaled as well. I towed it to my house, swapped my aftermarket stuff off and put the stock stuff back on and had the insurance company total it. All of my aftermarket stuff is now on my AP2. I can see how you can't transfer your wheels though. 
Definitely total it and move on. The last thing you need is to spend months selling the parts to your current S. Best of luck to you. 
Definitely total it and move on. The last thing you need is to spend months selling the parts to your current S. Best of luck to you.
04-02-2010, 08:15 AM
#22
Originally Posted by ace123,Apr 2 2010, 11:53 AM
I'd be tempted to finance $3-5k and get a newer car with under 30k miles, but that's me. I would look for low mileage in any case since you have the option.
On the condo, go ask the bank.
The dollar amount of your car payment might be pretty important, depending on the circumstances. If I understand it right, a car note is subtracted from your 40% gross income or whatever the figure is they use to determine your finance amount--meaning if they say you can pay up to $1900/month on a mortgage due to your income / etc, they then subtract your car payment (and any CC / student loan / some other types of debt) from that figure. So if you had a $600/month car payment, you might only finance for $1900-$600=$1300/month worth of mortgage. To counter this, you can always finance the money over a longer term than you will to pay it off in to keep the payment dollars low, ie finance over 3-4 years so the bank sees a piddly $130/month note as your obligation. Then overpay and get it paid off fast anyway. But ask the bank; they can look at all the numbers and tell you.
On the condo, go ask the bank.
The dollar amount of your car payment might be pretty important, depending on the circumstances. If I understand it right, a car note is subtracted from your 40% gross income or whatever the figure is they use to determine your finance amount--meaning if they say you can pay up to $1900/month on a mortgage due to your income / etc, they then subtract your car payment (and any CC / student loan / some other types of debt) from that figure. So if you had a $600/month car payment, you might only finance for $1900-$600=$1300/month worth of mortgage. To counter this, you can always finance the money over a longer term than you will to pay it off in to keep the payment dollars low, ie finance over 3-4 years so the bank sees a piddly $130/month note as your obligation. Then overpay and get it paid off fast anyway. But ask the bank; they can look at all the numbers and tell you.
04-02-2010, 09:17 AM
#23
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Welcome to the Gauntlet. I work at Morse and Cleveland and drive north on Cleveland every day. Many of my co-workers have been in accidents with uninsured drivers on Cleveland. The locals in the area have little skill behind the wheel. We gave the road a knickname.
Take the total buy-out and watch out driving on Cleveland.
Take the total buy-out and watch out driving on Cleveland.
04-02-2010, 09:44 AM
#24
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My heart sank when I saw these pictures. Glad you are ok.
And I hope that uninsured driver gets smacked HARD by the law. Your involvement in the accident could have been avoided if that idiot would have simply pulled over after rear-ending the Merc.
And I hope that uninsured driver gets smacked HARD by the law. Your involvement in the accident could have been avoided if that idiot would have simply pulled over after rear-ending the Merc.
04-02-2010, 02:35 PM
#27
Originally Posted by S2-3456789-K,Apr 2 2010, 11:38 AM
per my insurance policy, i must buy a car within 30 days of accepting the 13.5K.
Oh I am glad you're ok, and glad you were covered by Uninsured motorist coverage. Only before the cops have gotten there, that kid would have been lumped up a bit more..."I mean officer; he looked like he hit his head and face and arms pretty bad on his car!"
04-02-2010, 04:26 PM
#28
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Good to be able to walk away from that one. Try and salvage any parts you can and put them on ebay. Take the $13,500 and selling other parts could get you close to $15,000 or more. That would make a nice down payment on a newer S
04-02-2010, 07:32 PM
#29
That really sucks!! Take the $$$. You would be hard pressed to get more than $4.5K out of that. Even if you could you would not make much cash and it would not be worth the effort.
Buy another S2k, Ohio can't afford to lose another owner.
Buy another S2k, Ohio can't afford to lose another owner.
04-02-2010, 09:15 PM
#30
Take the money. I avoid that area at all costs. Lots of shootings in that area. You should have crushed is skull in since now we will have to pay for this ass to have free food and a bed while in jail.