Topic: Please help...crashed car. Need blackbook value

[Sgibson]

Hi everybody...

I'm new to this forum.  I was looking at some of the posts and it sounds like many of you are pretty knowledgeable, so I'm hoping you can help.

We crashed our beautiful baby on the weekend, driving in a storm.  Luckily, nobody was hurt, but we've been told the car's a write-off, due to high mileage.  My husband's ego is bruised enough (though the crash was unavoidable), and now we're scared we can't get anything for the car.

It's a 1998 Camry CE sedan, with about 280 000 km (I know, it's alot), but it's in AMAZING shape (other than the trashed trunk, now).  No rust, tires are all pretty new, no mechanical problems, drives like a dream.  Automatic Transmission, power steering, but no A/C.

I tried to access the black book website through Toyota, but it just bases the value on the kilometres...can anybody offer their opinion, so I can give my husband an idea before the nasty insurance lady calls?

Thanks in advance for your help!

[sirAQUAMAN64]

I don't think you'll get much for it. Few thou.

It's a sad thing the way insurance works. To YOU, the car is worth more, and you probably won't be able to find another car that's like it to replace it for anything near what they'll give you.

Let us know. We feel your pain.

What would you be in the market for if you had to replace it? Another Toyota?

[Sgibson]

Thanks.  This is so sad.  The car was in great shape, and it would have lasted us at least another few great years....until we could afford a new car.

Sigh.  When we were 'jokingly' talking about buying another car, we thought of the Mazda 3...though we didn't really look into it very much.  We just liked the way it drove.

So, a couple thousand, eh?  Hubby is not going to be happy this week.  Good thing we live down; looks like we're walking to work for awhile.

[sirAQUAMAN64]

Haha, now now... no need to walk down just yet. I'm no expert.

Cheers hoping to you getting more than expected!

[inco]

Go to autotrader.ca and look for your car. I'm sure you will find several similar cars that are for sale that you can get an approximate value on.

Pick different areas too and then print out the ones that come close and give to the insurance person. Research pays.

[Sgibson]

Thanks...will do.

[jamie1]

Inco is right. Thats what I did a couple of years ago when the the wife wrote off the 89 eagle  vista wagon. The insurance said the car was worth only $800.00. I looked in the local paper and found the asking prices were between $2000 and $3000. Insurance cut me a check for $2500. I was a happy camper.

[Exserviceguy]

Hi sgibson welcome to the forum.  Please remember the first offer your insurance company makes IS NOT THE ONE YOU HAVE TO TAKE!!!  Sorry to get emotional but most people just blindly take the cheque and say thanks.  If they offer you a certain dollar value, then they have to demonstrate that you can easily find another 98 Camry with similar mileage and equipment for the same price.  Start checking the auto traders and their web variants and the want ads so you are prepared when the insurance company calls.  Remember they didn't make a $4.2 billion profit last year by looking out for your best interests.

[Sterling]

Black Book value is not what you should be concerned with. Black Book numbers are for wholesale transactions - what a dealer would pay in order to resell it at a profit. You want retail numbers - what an end user would pay for it. The prices that individuals (not dealers) are paying is what you need to know. As was mentioned, look at ads in the Autotrader, BuySell, local classifieds, etc.

[ArticSteve]

Further to what Sterling says, the replacement is based on what a registered used car dealer is advertising the same car for plus GST and PST.  Don't forget the tax.

If the car was rust free, tires good, and in clean condition you should get $5000 plus both taxes. (Ontario) Old recipts are helpful.

I certainly hope you don't live in Ontario.  Your husband will be assigned an "at fault" accident for this.  IMO, better not to have claimed if at all possible.  Single vehicle leaving the roadway deal was it?  Weather is not a mitigating factor to the FACIST insurance cartel in Ontario.

Also keep in mind the wreck will be sold for salvage. Camry's are an in demand wreck.

[wing]

I talked about this to my insurance agent when I bought my subaru.  I paid $4000 for it, they said, if I total it I will get $4000 back.  I don't know if I'm paying extra for this type of coverage or not.

[ArticSteve]

You can not buy an insurance depreciation waiver on a used vehicle.  If you have a total loss in the first year then yes you will get your purchase price back more often than not.  More than that they will apply depreciation. On a running car in Ontario you wouldn't get much less than 3K anyways regardless of age and condition.

On the flip side, if your 4K car has just had a 3K tranny replacement and next day is a total loss, it is still a 4k car for insurance purposes.

[wing]

I guess my insurance agent just likes me

[Doouuu]

I just posted a similar problem.  Accident on the weekend, waiting for insurance to call.  It was a 1997 Sunfire with 130K and ran great.  Luckily everyone is OK.  Will printing and sending Auto Trader retail prices really help???

[ArticSteve]

You know Jamesbe, insurance agents sell the product on commission.  The claims department of the actual insurance company/carrier are the folks that make all the decisions.  That's why insurance agents often say things that are feel good.

Example: I have a guy and I look after both his vehicles.  He has a business rating on his 84 528e (mint shape) that has minimal coverage for obvious reasons and the premium reflects that.  His wife drives it and it is not driven on business.

His other vehicle is a 2004 loaded up Accord which he actually uses for business, but is rated for pleasure with his wife as the principal driver.  If he actually rated the Accord for business his rate on both cars would be much higher than it is now.

His "agent" knows all about this and says not to worry.  If my guys gets into a big accident, say on the 400 and has a one or more million dollar loss aginst him, caused by the Accord during business hours with him driving it, the insurance company will policy void him and go after him for every cent he has.  It is so lame, but agents look the other way all the time to keep the business knowing that they are pretty well untouchable if fate comes knocking.

[safristi]

Will they cover Him if HIS PANTS catch on FIRE!!!???....an ACT of God......

[Eugened]

I don't know any more details about that agent and this guy, but I think realistically in case of an accident with big damage caused by this guy driving his Accord on business purpose, the agent would unlikely step forward and let insurance company investigators know that the car in fact was driven on business. (Especially if the agent is somebody local, has other clients in the area, etc. The agent in such case risks loosing all future clientelle.)
Technically this guy might get away with that claiming that it was an occasional trip "for pleasure".  
Nevertheless it is very risky to misrepresent data for insurance company like that and if his insurance manages to prove that that was the case the guy is fried.
(By no means I am trying to encourage misrepresenting data for insurance)