Road Hazard last night in Annapolis!

[jimmyhoffa]

Originally Posted by Catbird

Hi to all.
I expect the insurance company to total the car this coming week.
It's a shame. It is clearly the least damaged of all the cars I've seen on the forum or on e-bay that have been totaled.
I've had a ton of interest in the car once it has been totaled.
I will post when that happens.

I'm not sure about the in's and out's of a salvaged title car.
Guess I'll do a search and read up.
If anyone can help me place a value on it that may help.
I'll post pictures of the damage once I have an idea from the insurance company about their offer..
Thanks

Sorry to hear that. For just buying your toy and having that happen really sucks.

[pixlpush]

Wow what a total drag. So sorry to see this, and I agree that it's bad enough but after only having the car for a few weeks. Hopefully your insurance will not give you a hard time.

[SweetDaddyD]

Stick a fork in that one. It's done. We'll see it on E-bay with an interesting story soon. "car has a minor scratch, salvage title, BIN $25K"

What color are you getting now?

[Catbird]

KG has grown on me... was looking for yellow or orange before I bought her, but once you go KG...I'm not sure you can go back..?..
Not sure what BIN means?

Originally Posted by SweetDaddyD

Stick a fork in that one. It's done. We'll see it on E-bay with an interesting story soon. "car has a minor scratch, salvage title, BIN $25K"

What color are you getting now?

[ckalkhof]

"BIN" is short for Buy it Now. BIN is an option you can select when listing your EBay ad. You select a price the car can be bought for immediately.

[Catbird]

Thanks ckalkhof.... LSNED ...learn something new everday..

Originally Posted by ckalkhof

"BIN" is short for Buy it Now. BIN is an option you can select when listing your EBay ad. You select a price the car can be bought for immediately.

[Catbird]

Ok folks, I need some advise..
Insurance is offering 33K for the car. I can buy it back for 15K.
I told them I didn't like either number..
What is the next move?

Thought a few people around here might share their wisdom...
Thanks

[Chris D.]

That sounds good all the way around to me. You should go with both options.

[Valenz]

The compensation sounds about right to me (maybe just a tad too low). The buy-back is definitely too high IMO (at least I'd never pay that given the damage). Sorry for your bad luck in this whole matter. I hope that it turns around great for you moving forward. You should have no trouble finding a replacement with even the offered compensation. Happy Trails!

[Dragon]

I'd grab the 33k and then pick up the black n/a Exige in the FS section. The tops come off of Exige's too you know...

This one: http://www.lotustalk.com/forums/f94/...k-34-5k-66012/ I'm pretty sure you could work something out with him.

[lotusforsale]

Originally Posted by Dragon

I'd grab the 33k and then pick up the black n/a Exige in the FS section. The tops come off of Exige's too you know...

This one: http://www.lotustalk.com/forums/f94/...k-34-5k-66012/ I'm pretty sure you could work something out with him.

+1

[serpent]

Originally Posted by Dragon

I'd grab the 33k and then pick up the black n/a Exige in the FS section. The tops come off of Exige's too you know...

This one: http://www.lotustalk.com/forums/f94/...k-34-5k-66012/ I'm pretty sure you could work something out with him.

+2

What insurance do you have?? (sorry i have a headache and dont want to read the thread).

I would try asking 35k for the car and the buy back about 12-13k. Actually try asking them 36k and if they say no then just say you'll take 35k. Its going to be a lot of talking though, good luck.

[Dragon]

Also I would use the point that since the car was only 3 weeks old they need to add what ever the sales tax is in your area to the 33k as well as any registration fees and maintenance you may have had done.

[Extreme48]

I feel your pain man - I have had my elise for 10 days... I drove it home 600 miles in the snow fromSeattle to Cali. with no issue. Back home in good weather I came upon a piece of firewood someone lost onthe highway... hole in the front clam... this was on day seven!!!

Originally Posted by Catbird

Wow!...Done?... most fun I ever had in 3 weeks...

[Bavarian Motorist]

$33k is not bad considering the base price was $40k four years ago...

[Catbird]

This process has happened during the market downturn.
Erie said they called dealers to come up with a value..
I think a dealer in September might have had a different opinion than one last week....

[Scrumpot]

I just went through very similar negotiation circumstances from an accident on my dd (not my Lotus) that was rear-ended, and disputed back-n-forth several times between insurance company's (mine and the one at fault) between "totalling" and repairability. Looks like you've been offered a settlement based on them totalling the car.

#1. You can (and SHOULD) negotiate! They may make it sound like these are "hard & fast #'s", but when/as you "dig into it" - you will find that they are not.

#2. That being said - their #'s really do not look that far off either / not so bad.

You will need to be VERY FACTUAL and both collect, then get your "ducks in a row" to support your case to them. Comparable completely "make whole" replacement for your loss is what it's all about. You are not looking to get ahead as a result of this mishap, but you should not suffer net tangible LOSS either. That is what "insurance", and you being a CUSTOMER and paying your premiums for this coverage in the 1st place, is all about.

There are some "dynamics" taking place here in MD especially right now, that actually work in your favor, and SHOULD make the insurance company a bit more amenable / receptive to your position/pleas. MD has just undergone a comprehensive state senate info gathering/review of/with the state insurance commissioner to see if recent laws enacted are having the desired effect (I heard this during my "situation"), so the insurance companies right now are "sensitive" to not have issues/complaints. But again - you MUST have your ducks here, all in a very good, clear - easily followable row. That means doing some quick, yet thorough homework.

Research as close EXACT replacement comparable sales in our area - both cars listed as well as RECENTLY SOLD here in MD that support YOUR value. Also - any factors relative to your car that makes it "more unique" or desirable / MORE valuable than those comps, as you find them, needs to be clearly pointed out. There are on-line resources to help you do this (I don't have access to all of them to point out right now at work - NADA, etc. - Maybe even Dan at Criswell would be able to help you there too) that provide this information. Then, once you've identified which comps work to your benefit, and a target acceptable # that works for you - you can go from there.

I hope at least this much is of some help to you, in getting you back "whole" again, as I know you'd like to (and NEED to) be.

Good luck and HAPPY HOLIDAYS!!
Cheers,
-Grant

[Seb]

You should be able to get a wee bit more for the car. Push!

Best of luck!

[Scrumpot]

Originally Posted by Catbird

I think a dealer in September might have had a different opinion than one last week....

This is true, and just a "fact" you are currently working with. This can actually work in YOUR FAVOR though. If you want to argue net $$ value - use the "September (date of incident) #". Chances are, you unfortunately won't get very far with that though - They, like you, are in the same market here TOGETHER after all.

#1. Find your REPLACEMENT car. Negotiate your best deal on that replacement (make-whole) car. Then, "do the math" - directly with the insurance company. Show them what you have, and whatever it takes/is needed to be done thereby to make you whole. It is their obligation to "make you whole", and equitably replace the vehicle (with as close of like-kind as possible), if it is declared a total.

Looks to me as though they are at least "in the range" to be able to come to terms with you, to be able between you to do this.

I wouldn't push any panic buttons yet. Have you shopped for that replacement Lotus yet? - If not, get out there and do it! It's time for you to get back into the fold!!

[Chris D.]

Originally Posted by Catbird

This process has happened during the market downturn.
Erie said they called dealers to come up with a value..
I think a dealer in September might have had a different opinion than one last week....

I'd say that's right and you should take the $33k. If you question that amount they may check around some more and the price may even be lower in a couple of weeks. If you shop $33K around this time of the year with the current economic climate, you are going to find something that you will likely be very happy with.