Cash value should be private party sale value. Because that's what you could sell it for prior to damage. That's what it's worth.

sdc177 said:

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Carmax produced 19 hits nationally for the exact same car as mine.

Average price is $16,761.53 with an average of 32,684 miles.

They are trying to give me $13,935 for mine with 36,5XX miles.

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Get a professional appraiser to run the numbers. Costs about $200-300 and is well worth it. Most insurance companies will agree to a well documented proposal.

Ciboag96 said:

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Ford Fusion Hybrid if you want to MAGA.

The Hyundai if you just want to MKGA.

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It is looking like I will be MAGAing tomorrow evening.

sdc177 said:

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So I bought a brand new 2015 Fusion Hybrid from Autonation Ford in Frisco last night. The $17,314 price was too good to pass up! Apparently they somehow had overlooked a few 2015 cars/trucks on a back lot and are just trying to get rid of them.

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Damn, that's a steal.

CanyonAg77 said:

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Quote:

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Auto policy is not a "replacement cost" policy, it is an "actual cash value" policy.

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If it costs $X to replace a car, isn't that the "actual cash value"? I always felt like if I lost a vehicle to a wreck, I deserved to receive enough money from insurance to buy another vehicle just like it, and be out $0 dollars, after tax, title, license and dealer mark up.

It's not like I can replace the car without paying all that.

I can see your argument if I'm dealing with my insurance, but the other guy's insurance should make me whole. I should not be out a dime for his screw up.

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There is no argument, it's in the policy/contract.

If you have 2 identical vehicles, one being sold by a private party for $15k, and another being sold by a dealership for $17K, what is the actual cash value?

DadAG10 said:

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sdc177 said:

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Carmax produced 19 hits nationally for the exact same car as mine.

Average price is $16,761.53 with an average of 32,684 miles.

They are trying to give me $13,935 for mine with 36,5XX miles.

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Auto policy is not a "replacement cost" policy, it is an "actual cash value" policy.

Carmax has reconditioned the vehicle to make it ready to sell, probably $500 - $1000 (tires, brakes, etc..), and leave room for profit. Not unusual for them to sell a vehicle for $3K more than they paid for it.

What would Carmax pay you for your vehicle prior to wreck? That number is closer to "actual cash value".

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Don't buy this. Keep in mind this poster is in the insurance business. The bolded is what they want you to believe because, naturally, Carmax, and others like them, are going to offer less than market because they have to try and sell if for actual market.

DadAG10 said:

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CanyonAg77 said:

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Quote:

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Auto policy is not a "replacement cost" policy, it is an "actual cash value" policy.

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If it costs $X to replace a car, isn't that the "actual cash value"? I always felt like if I lost a vehicle to a wreck, I deserved to receive enough money from insurance to buy another vehicle just like it, and be out $0 dollars, after tax, title, license and dealer mark up.

It's not like I can replace the car without paying all that.

I can see your argument if I'm dealing with my insurance, but the other guy's insurance should make me whole. I should not be out a dime for his screw up.

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There is no argument, it's in the policy/contract.

If you have 2 identical vehicles, one being sold by a private party for $15k, and another being sold by a dealership for $17K, what is the actual cash value?

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IF there is a private party car within reasonable distance, that is near identical in equipment and condition, its15k. If the only place you can find one is a dealer, it's 17k.

Plus tax, title, license.

Now, I fully understand that if you're my agent, our contract could have weasel word clauses. But if you're the other guy's agent, here's what's fair:

Before the wreck, I was driving a 2013 Hooptymobile, in very good condition, with 50,000 miles. After the wreck, I should get a settlement good enough to buy me another 2013 Hooptymobile, in very good condition, with about 50,000 miles, and I should not be out a freaking dime for the purchase, including tax, title, and license.

Heck to be totally fair, I should also get a month of rental car and $500 just for the damned inconvenience

sdc177 said:

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They raised the settlement so I'm only out $200 which I can live with.

Now to find another vehicle...if I am wanting a spacious, well equipped used vehicle that gets really good MPG is there anything that beats this for the money? I was getting about 37 MPG combined.

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Don't forget sales tax. Not sure if texas requires it, but some states require them to write you a check for whatever the value of the vehicle is+sales tax.

agracer said:

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sdc177 said:

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They raised the settlement so I'm only out $200 which I can live with.

Now to find another vehicle...if I am wanting a spacious, well equipped used vehicle that gets really good MPG is there anything that beats this for the money? I was getting about 37 MPG combined.

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Don't forget sales tax. Not sure if texas requires it, but some states require them to write you a check for whatever the value of the vehicle is+sales tax.

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Yep, got it covered.

The Wonderer said:

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sdc177 said:

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So I bought a brand new 2015 Fusion Hybrid from Autonation Ford in Frisco last night. The $17,314 price was too good to pass up! Apparently they somehow had overlooked a few 2015 cars/trucks on a back lot and are just trying to get rid of them.

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Damn, that's a steal.

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Hell yes. I'm coming out better on the car side. Now if my lower back would just feel better...

sdc177 said:

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The Wonderer said:

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sdc177 said:

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So I bought a brand new 2015 Fusion Hybrid from Autonation Ford in Frisco last night. The $17,314 price was too good to pass up! Apparently they somehow had overlooked a few 2015 cars/trucks on a back lot and are just trying to get rid of them.

---

Damn, that's a steal.

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Hell yes. I'm coming out better on the car side. Now if my lower back would just feel better...

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Did you sign complete waiver and release forms or a W&R with respect tot the value of the property only?

The Wonderer said:

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sdc177 said:

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The Wonderer said:

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sdc177 said:

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So I bought a brand new 2015 Fusion Hybrid from Autonation Ford in Frisco last night. The $17,314 price was too good to pass up! Apparently they somehow had overlooked a few 2015 cars/trucks on a back lot and are just trying to get rid of them.

---

Damn, that's a steal.

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Hell yes. I'm coming out better on the car side. Now if my lower back would just feel better...

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Did you sign complete waiver and release forms or a W&R with respect tot the value of the property only?

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The only thing I have signed is the PoA for my insurance to deal with my credit union for the totaled car.

CanyonAg77 said:

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IF there is a private party car within reasonable distance, that is near identical in equipment and condition, its15k. If the only place you can find one is a dealer, it's 17k.



Heck to be totally fair, I should also get a month of rental car and $500 just for the damned inconvenience

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So, if the dealer has it listed at $17K, and you negotiate down to $16K, whats the ACV?

DadAG10 said:

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CanyonAg77 said:

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IF there is a private party car within reasonable distance, that is near identical in equipment and condition, its15k. If the only place you can find one is a dealer, it's 17k.



Heck to be totally fair, I should also get a month of rental car and $500 just for the damned inconvenience

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So, if the dealer has it listed at $17K, and you negotiate down to $16K, whats the ACV?

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Or if you show up and the dealer says, "whoops, we don't have that one, here's one for $18k."

Is that your front license plate under his car in the first photo?

combat wombat said:

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Is that your front license plate under his car in the first photo?

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The car in the ditch, that's that car's entire front bumper.

Daaang!

combat wombat said:

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Daaang!

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It's plastic, why are you surprised?

Finally picked up my new Fusion yesterday....MAGA!!!!