Wrecked my Car. Should I sell or keep it?
#1
Wrecked my Car. Should I sell or keep it?
I spun out and slammed my car into a curb. messed up my front & rear suspension. repair shop has estimated that it will cost $13k to fix the damages. i'm worried that my S will not handle the same way. what do u guys think? should i sell it or keep it?
#2
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Depending on the year and mileage, shouldn't that be considered a write off? If its a couple years old, that 50 percent of its value at a minimum, so that should qualify. Then you can buy it back from the insurance company for hardly anything and fix it yourself for half that quote. What does your insurance company say about it?
Sorry to hear about your accident though, and hope nobody was hurt most of all. Its just a car.
James
Sorry to hear about your accident though, and hope nobody was hurt most of all. Its just a car.
James
#4
Sorry about your accident, hope no one was hurt.
Looks like you've got a 2002? Depending on mileage it was probably worth around 22,000 before the accident.
13K is just the initial estimate, actual cost to fix would go up by at least a few thousand. Looks like a total loss to me but all insurance companies have their own formulas. Some would total at 60% some at 70% - i.e. if the cost to fix reaches this % of what the car was worth.
From my personal experience (having wrecked my first S), I would suggest you get rid of it. It will save you lots of time and hastle.
Best of luck!
Looks like you've got a 2002? Depending on mileage it was probably worth around 22,000 before the accident.
13K is just the initial estimate, actual cost to fix would go up by at least a few thousand. Looks like a total loss to me but all insurance companies have their own formulas. Some would total at 60% some at 70% - i.e. if the cost to fix reaches this % of what the car was worth.
From my personal experience (having wrecked my first S), I would suggest you get rid of it. It will save you lots of time and hastle.
Best of luck!
#7
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if you decide to keep it:
one benefit could be getting your OEM suspension replaced with a good aftermarket setup for about the same price. find out what insurance is allowing for each part and do your homework to see what aftermarket parts are available.
i rear ended somebody in a civic and ended up getting a new VIS carbon fiber hood and new JDM headlights for about what insurance was paying. you don't have to paint the cf hood so that saved a little $.
anyway, try to benefit from the wreck if you decide to keep the car....it could perform better than it did before.
one benefit could be getting your OEM suspension replaced with a good aftermarket setup for about the same price. find out what insurance is allowing for each part and do your homework to see what aftermarket parts are available.
i rear ended somebody in a civic and ended up getting a new VIS carbon fiber hood and new JDM headlights for about what insurance was paying. you don't have to paint the cf hood so that saved a little $.
anyway, try to benefit from the wreck if you decide to keep the car....it could perform better than it did before.
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#8
You might get some independent pricing on what somebody would pay you for the wrecked car. We had a car (not our S2k) that was severly damaged due to the fault of another, and it was almost brand new! I had a major hassle with the insurance companies on the value of the car. In the process, I had gotten a bid from a local company that buys wrecked cars. Then, one of the insurance companies agreed to just buy me a new car just like the one wrecked, and I took the offer. Later, I discovered that this company actually made a profit on the transaction, considering the repair estimate plus what they got for the wrecked car! So it is possible that what you could get from insurance for repair, plus the value of the wrecked car, could actually exceed the cost of replacing your car. So check it out.
Good luck,
Richard
Good luck,
Richard
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