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Started By
Message
re: Guy is an idiot
Posted on 2/17/25 at 9:17 pm to Chalkywhite84
Posted on 2/17/25 at 9:17 pm to Chalkywhite84
Insurance payout does not necessarily equate to resale value.
2
Posted on 2/17/25 at 9:17 pm to Chalkywhite84
quote:
The insurance adjuster even told him he is getting screwed
He’s probably not the only one.
Posted on 2/17/25 at 9:18 pm to Chalkywhite84
Is this a situation where one of the depreciation of value services could help? With my wife’s vehicle, they repaired the vehicle but I had to fight them for an additional ~$4k by paying a company a few hundred dollars to put together a report on how it impacted the resale. Was a pain but eventually got there.
Posted on 2/17/25 at 9:18 pm to Chalkywhite84
quote:
He is saying that his truck goes for like 23k.
No shot. In pristine condition from a single owner that’s a 18k - 19k truck with that mileage.
Since he still owes 20k on an 8 year old truck, I’m guessing he’s not the original owner, which depreciates the vehicle more.
If he can get them up to 15k, run with it.
Posted on 2/17/25 at 9:22 pm to Chalkywhite84
Insurance tried to screw me over when a young girl ran a stop sign and t-boned my wife. Low balled me by 7k. Found out they “appraised” the car as a base model. I got the quote they used that was conveniently missing leather seats, navigation, etc and sent it back to them marked up like a freshman year essay. Ended up getting my money but to this day I wonder how many people just take the first number they get and don’t even look.
Posted on 2/17/25 at 9:22 pm to Gifman
That truck is barely worth 13k IMO.
Posted on 2/17/25 at 9:24 pm to Rouge
quote:
Insurance payout does not necessarily equate to resale value.
bullshite imo and this mindset is the reason insurance companies make billions. Insurance should make me whole on what I had before.
Posted on 2/17/25 at 9:27 pm to Chalkywhite84
An 8 year old high school boy truck with 140k miles isn’t worth $23k
wtf
wtf
Posted on 2/17/25 at 9:27 pm to Chalkywhite84
quote:Kelly Blue Book website says a 2017 Colorado Z71 with 140k miles should be worth between $12-15k in good condition. Sounds like his insurance company made a reasonable offer.
He told them he wouldn't take the 14k. He still owes like 20k on the truck
So how is he that far upside down on what he still owes on the truck? Did he trade in another vehicle he was upside down on when he bought this and not put any down payment? Kid is about to learn a lesson about stretching the budget and doing longer length financing terms where the vehicle depreciates faster than you’re paying it off.
He can go pull up the NADA and KBB values himself and use that as leverage to argue to maybe get an extra $1k or so from the insurance company. But he’s fricked if he doesn’t have gap insurance, which I’m assuming he doesn’t since otherwise he wouldn’t have a reason to be concerned if the insurance offer was less than his loan balance.
This post was edited on 2/17/25 at 9:30 pm
Posted on 2/17/25 at 9:29 pm to Chalkywhite84
quote:
2017 Chevy Colorado z71 with 140k miles.
quote:
Still owes $20k
quote:
It was his fault
Does he also have a tattoo? Sounds like he makes terrible decisions.
Posted on 2/17/25 at 9:29 pm to Tiger Prawn
Yeah, I don't understand how he still owes 20k. Said he bought it with 60k miles.
He sounded like he was going off what these trucks were selling for online.
I think his problem is he doesn't realize he is going to get the 14k book value and not the 21k that Nissan is selling the same truck with more mileage for.
He sounded like he was going off what these trucks were selling for online.
I think his problem is he doesn't realize he is going to get the 14k book value and not the 21k that Nissan is selling the same truck with more mileage for.
This post was edited on 2/17/25 at 9:32 pm
Posted on 2/17/25 at 9:31 pm to Chalkywhite84
quote:
He told them he wouldn't take the 14k. He still owes like 20k on the truck
Posted on 2/17/25 at 9:31 pm to Chalkywhite84
quote:
gap insurance is a scam but does help.
quote:
That's what I was telling him. You usually get fricked
It’s a 7y/o vehicle, why is it not paid off?
Nevermind, I’m sure he bought it used, how long has he owned it?
This post was edited on 2/17/25 at 9:36 pm
Posted on 2/17/25 at 9:32 pm to NIH
quote:
He can drive better
Not until he gets another truck since the one he has now is totaled.
Posted on 2/17/25 at 9:32 pm to Chalkywhite84
Frick insurance companies. I begged them to total my vehicle after an accident. They just wouldn’t total my vehicle and I just found out they spent over $72,000 to repair a vehicle that had a pre accident value of $84,000. Thought that was illegal in Louisiana but them frickers did it anyway.
Posted on 2/17/25 at 9:33 pm to Nado Jenkins83
quote:
That truck is barely worth 13k IMO.
Yeah blue book is anywhere from 12 to 14. Plenty of dealerships and car gurus and the like are selling them for 20k plus.
After getting more info on the situation he is getting the right amount. He just doesn't realize you usually get screwed when your car gets totaled.
Posted on 2/17/25 at 9:35 pm to Chalkywhite84
quote:Dude must have gotten hosed big time when he bought it.
Yeah, I don't understand how he still owes 20k. Said he bought it with 60k miles.
He sounded like he was going off what these trucks were selling for online.
That truck was only around $35k MSRP when it was brand new. Did he do 120 month financing bullshite or something to have still been upside down after having it long enough to put 80k miles on it since he’s had it?
Posted on 2/17/25 at 9:38 pm to BeerMoney
quote:
s this a situation where one of the depreciation of value services could help?
There is no depreciation (diminished value) on a totaled vehicle. They are valuing/buying the vehicle in its pre-loss condition.
This post was edited on 2/17/25 at 9:50 pm
Posted on 2/17/25 at 9:38 pm to Chalkywhite84
2017 with 140K miles and he owes 20K on it still? Yikes
Posted on 2/17/25 at 9:40 pm to Chalkywhite84
quote:
2017 Chevy Colorado z71 with 140k miles. He is saying that his truck goes for like 23k.
LOL
I just bought a 2017 Silverado high country z71 with 120k for a work truck for 25k
His is probably worth around 17k
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