Timeline for Did my insurance company scam me when they paid less for my car than I saw it selling for at a used car dealership later?
Current License: CC BY-SA 4.0
19 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Aug 13, 2021 at 3:46 | comment | added | Loren Pechtel | Objection: You say you don't get back the sales tax, but 3 years ago when a woman ran into me ending up with a total they did figure the value including all the costs I would incur (except my time & gas hunting down a new one) if I were to buy an identical car. | |
| Aug 11, 2021 at 18:40 | comment | added | Neil Meyer | A car is not an asset it is an expense and a liability. There are very few exceptions to this. Two that I was part of was the BMW minis of the early 2000s that were so hot you could drive them for a year and sell it for a profit. The other was early Prius that came with such amazing tax breaks that you could also sell them for a profit. Two in 25 years of motoring. | |
| Aug 11, 2021 at 15:12 | comment | added | Hart CO | @hojusaram Yes, you can insure a car that has been totaled, it just likely doesn't make sense to, or you might not be able to get comprehensive coverage since the vehicles value will be quite low. | |
| Aug 11, 2021 at 8:21 | comment | added | Stack Exchange Supports Israel | @hojusaram there's a difference between third-party insurance (which replaces other peoples' cars that you crash into, which you're required to have) and "full" insurance (which replaces your car). You can of course try to get your car insured again. I guess they won't even give you third-party insurance if the car isn't roadworthy. | |
| Aug 11, 2021 at 6:36 | comment | added | user111134 | @usr-local-ΕΨΗΕΛΩΝ €85 for a full tank... I usually spend €125. Jealous face. | |
| Aug 11, 2021 at 6:01 | comment | added | hojusaram | @HartCO if you keep the car after collecting insurance, are you driving around without insurance? Or can you still get it insured again? | |
| Aug 10, 2021 at 20:28 | comment | added | Herohtar | @user253751 Yes. See the second comment -- if you want to buy a new car you can just give your totaled car to the insurance company for whatever they value your car at, or you can keep the car, get a slightly smaller amount of money, then pay for repairs (or skip them if they're strictly cosmetic and you don't care) and a rebuilt title and keep driving it. | |
| Aug 10, 2021 at 20:23 | comment | added | Herohtar | If the car was repaired, the dealership will likely be selling the car with a rebuilt title. It's not legal to drive a car with a salvage title in some (most/all?) states. | |
| Aug 10, 2021 at 16:44 | comment | added | Stack Exchange Supports Israel | Obvious follow-up: could the asker have kept the destroyed car by paying the salvage value to the insurance company? If that's an option, it at least proves the insurance company isn't trying to profit from the resale. | |
| Aug 10, 2021 at 15:39 | comment | added | Simon Richter | Someone who needs a clear VIN for a stolen car might pay $18k for it. | |
| Aug 10, 2021 at 11:58 | comment | added | usr-local-ΕΨΗΕΛΩΝ | $40 for a full tank... I just spent 85 (€). Jealous face | |
| Aug 10, 2021 at 11:11 | comment | added | Heinzi | @BillyC.: Depends on your insurance policy: If you offer to pay a higher monthly fee, I'm sure your insurance company will be more than happy to cover additional costs as well. | |
| Aug 10, 2021 at 4:03 | comment | added | Billy left SE for Codidact | Why isn't insurance responsible for tax and titling costs? I pay tax on my insurance policy, they can't make me whole without tax being paid. | |
| Aug 9, 2021 at 18:26 | comment | added | Pete B. | @user760783. You said you did not have the money, so you couldn't repair it. Okay something to work on is having a healthy savings account. Could you have repaired it to a safe condition for a few thousand bucks? Maybe, maybe not. In the end your life is worth far more than saving a few bucks. | |
| Aug 9, 2021 at 17:15 | comment | added | Hart CO | Even better you could have collected the insurance money (less salvage value) and kept the car. I had a car totaled from being rear-ended that I continued to drive for a while because other than the non-functioning trunk hatch it was fine. Hail damage can easily total an older car and is purely cosmetic in most cases, I know a few people who happily drove their dimpled cars around for years. | |
| Aug 9, 2021 at 16:15 | comment | added | user760783 | Thanks for this great answer and for not being toxic and rude like the other folks. I said hindsight 20/20 because i was thinking I should just save the car and get repairs when I could and then sell it myself, I'd get more than what the insurance gave me | |
| Aug 9, 2021 at 16:12 | vote | accept | user760783 | ||
| Aug 9, 2021 at 15:45 | history | edited | Pete B. | CC BY-SA 4.0 |
added 465 characters in body
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| Aug 9, 2021 at 15:38 | history | answered | Pete B. | CC BY-SA 4.0 |