TDIBone
Veteran Member
2004 Golf TDI, now pushing 303,000 KMs. Just hit a manhole cover that had come out of it's base and took out the oil pan. Shut off right away. Think they will write it off?
100% agree with Bob.Others may (will) disagree, but I see no way that would trash the motor.
It should be salvage if done right, but not all insurance companies go through with the paper work.You have done the proper estimate for your car value, comparables, that's what they use. Of course they'll try to low ball you some.
Not sure how a buy back works, but it sure sounds like a possible candidate. Do you end up with a regular title or savage?
Down here in the states they don't always do that. When having repairs done you often must hold their feet to the fire.............................
When its an insurance job shops have to guarantee the work, so shops don't mess around, they buy OEM parts.. the exhaust is probably $1000 for the shop due to the downpipe and they probably quoted replacing it all/most of it just to cover their a$$...
If the OP is interested in keeping the vehicle he could settle, buy the car back and probably have a shop do the repairs for $1000. His insurance company would probably take off the Comprehensive coverage at that point.
Yes.Down here in the states they don't always do that. When having repairs done you often must hold their feet to the fire.
I still don't understand what happens when you buy it back after the insurer has totaled it. Can you do that with or without comprehensive?
And no joke, exhaust will be a grand with decent parts. But if just needs a muffler........$40
Huh?Excellent explanation, thanks. [I had to look it up, Branded Title = Salvage]
So for a ride like this one, you wouldn't be getting (or wanting) comprehensive, but you certainly need collision in most or all states. Don't think it's much different in Ontario.
I dont see how you can say that a branded title car is worthless, I have fixed and sold a ton of branded cars and trucks and made money on them. Cars get branded for easy things such as bumper cover, fender etc...I never touch any frame issues, and I take pictures before and after and am upfront about every repair with the individual. I've never had an issue reselling these cars or having them come back on me.
This is mostly accurate but the branded title bit differs from state to state and with age of the vehicle. For instance, in Tennessee, my golf was smashed up twice and I bought back the totaled vehicle each time. Because of the age of the vehicle, it was not required to be branded so it remained a clean title despite being "totaled" twice.Yes.
Basically when the insurance company totals it they pay you the market value of the car at the time it was totaled (which they WILL argue over and you can and should argue with them over!) -- they now own the car.
Well, their book says it has a salvage value -- basically whatever the net they believe they can get for it in the condition it's in now. They will sell it back to you for that amount.
Now it's supposed to have the title branded ("Salvage") at that point, because it was totaled.
So let's say you and the insurance company settle on $5,000 for the value of the vehicle at the time it was totaled. They cut you a check for $5,000, you surrender the title to them and at that point they own the car.
They ALSO determine (on their own) that the salvage (parted-out, whatever) value of the vehicle now, in its present condition (and with a branded title), is $1,000. Sometimes you can argue (to a degree) with them over that value too, but usually not by much if at all -- since they determine that based on what they're pretty sure they can get from someone on the *low* end at an insurance auction. You can buy it back from them for that $1,000 and they'll transfer the (supposed to be branded) title back to you.
However, insurance companies will typically refuse to write comprehensive coverage (at all) on a branded title vehicle, and some will refuse to write collision coverage. In addition a branded title vehicle cannot be used for any sort of commercial service in most if not all states (in the US anyway).
Just keep in mind that from a market-value perspective a branded title vehicle is basically worthless irrespective of what you put into it down the road and it is also worthless for any purpose other than personal transportation.
Thanks for straightening me out. I meant Liability, not Collision.Huh?
Collision and comprehensive coverage have not been required as a matter of law anywhere I've ever lived in the US (several different states) nor does it make sense for it to be required. )))))))))))))))))))))))))))))))))).)