How can you find out your car's value if it is being totalled by the insurance company?

Patrick

Different insurance companies use different valuation methods. NADA (www.nada.com) is used by some, however some insurance companies, namely Geico, use 3rd party evaluators. They will find comparable vehicles within your home area that are for sale, or have sold recently and use those prices as a basis for the value of the car. The problem with that scenario though is that the 3rd party has a vested interest in low-balling the crap out of your vehicle's value to keep the client (insurance company) happy. CCC was even hit with a class action lawsuit for their valuation methods.

Your best chance here is to do your own research, find 98 mustangs in your area that have sold or are for sale and have these values ready for your insurance company when they give you an offer. You have to be able to justify a higher payout than what they offer. If 10 98 mustangs are for sale in your area with prices ranging between $3000 to $9000, rest assured that the comps will be the cheaper of the list. You might even go to a local dealership with a similar car for sale, and try to get a sales price, and provide that to your rip-off comp.. I mean insurance company.

Try going to www.autotrader.com and see what's for sale in your area. Believe it or not, that is a source of sale comps used by many value estimators.

CowboyBill

You will be paid the actual cash value (ACV) of your vehicle prior to the loss. Mileage and condition will add or deduct from this value. Most insurers use NADA or ADP as a GUIDE, but the market value less your deductible is what you should be paid. If you owe more on the car than it's worth you will be expected to pay the leinholder the difference. Check your local papers, internet and car lots for similar vehicles and keep records of the prices and contact numbers in case your adjuster offers you a low-ball figure. They have no interest in owning your vehicle and they could NEVER sell a totaled '98 Mustang for 6K. Work with the adjuster vs against him/her and you will come out much better.

la428282

Insurance companies give you actual cash value of your car- aka- what it would sell for in its preloss condition at a dealership. Alot of companies go off nada value (check nada.com) some see how much those cars are selling for in the area... i dont know of any that use kelley blue book (but i could be mistaken)

Remember... they have ever right to deduct value off your car if you had any preexisting damage or alot of miles... car insurance companies generally dont go around trying to trick people and rip them off (contrary to popular belief). However, many people have a very skewed vision of the value of their property and get mad when someone tells them how much its worth truthfully.

P.S.... they cant selll your 98 mustang after its accident for 6000 dollars.. you think insurance companies make big money off salvage? please... no one wants that.. they will maybe get a couple hundred bucks..

P.S.S... the person who answered in front of me is sadly mistaken.. her situation is VERY RARE. TOtal loss settlements arent like bodily injury ones... insurance companies dont "start low" and negiotiate... genreally it is what it is... very rarely they will add a slight value.

Catwoman

Kelly blue book will give you the value based on the year,model, make and mileage of your car. Most libraries will have a kelly blue book on hand but good luck trying to get the insurance company to cough up more than what they are willing to pay. You do have the option of refusing to total the car but of course you'd have to pay to fix the damage yourself since the insurance will not cover it. You are better off taking what they give you and putting a down payment on another car to get some wheels. Sorry that happened to you. I know it stinks!!!

lemonprotection.com

To get the most out of your car you need to contact an attorney (I hope you were not hurt), If your were hurt contact an attorney who specializes in Personal Injury, he will get far more than you will if you do it by yourself because you may be entitled to personal injury compensation, Don't be foolish get someone who knows how the system works and you will come out OK, Good Luck and GOD Bless

Shannon D

kellys bluebook

dodge man

i own a shop ,and try calling or going to any used car lot and tell them what kind of a car it is and what all it has on it,and include the mileage also,and get them to check the current value of it,that's the best way to handle this,and then you,ll know the actual value of it,the insurance companies go by a different book,and their price is always lower on this stuff,watch them or they,ll take advantage of you,anything they can do to save money they will do it,good luck hope this helps.

Karen L

Do as much research as you can. Do not accept the insurance companies first offer. Go to as many dealers as you can, and get quotes on what it would cost to purchase that same car with similar mileage. They will try to low-ball you. Whatever you do, do not give them possession of your car until you are satisfied with their offer. Once they have your car and you sign over the title, you don't have much of a chance to bargain.
My daughter totaled her car, insurance offered 4300.00. We fought with them and had lots of quotes to back up the value of her car, we finally received a check for 9250.00

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