rocknrobn26 Posted January 19, 2006 Author Share Posted January 19, 2006 Maybe I'm crazy, but I think that I would want to read the insurance policy before I did anything. 1276341[/snapback] But the other person was at fault and isn't their ins co that my buds wife has to deal with? What could the policy show? Quote Link to comment Share on other sites More sharing options...
NSab Posted January 19, 2006 Share Posted January 19, 2006 I don't want to rant, these are good friends of yours and they need to defended aginst , what will be handed to them. Quote Link to comment Share on other sites More sharing options...
Furd Posted January 19, 2006 Share Posted January 19, 2006 I'd like to get a huddler lawyer's take on that. I don't see how he/she would get paid. It's just the car. 1276314[/snapback] What exactly are you looking for with respect to this? Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 19, 2006 Author Share Posted January 19, 2006 (edited) I don't want to rant, these are good friends of yours and they need to defended aginst , what will be handed to them. 1276353[/snapback] I agree. That's why she called me. They really have no one else that can help. I will tell them to contact a lawyer, but you can understand why they are sour on them. Oh and FWIW, he spent 5+ years in the Navy! What exactly are you looking for with respect to this? 1276354[/snapback] I'm not sure what a policy would say that would be different or get them more $$$? In your opinion would a lawyer be worthwhile? Edited January 19, 2006 by rocknrobn26 Quote Link to comment Share on other sites More sharing options...
Furd Posted January 19, 2006 Share Posted January 19, 2006 But the other person was at fault and isn't their ins co that my buds wife has to deal with? What could the policy show? 1276352[/snapback] Why would your bud's wife have to deal with someone else's insurance company? Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 19, 2006 Author Share Posted January 19, 2006 Why would your bud's wife have to deal with someone else's insurance company? 1276388[/snapback] You're right. Thinking back when I got my car totaled, I dealt w/ my insurance co. and I guess they got their $$ back from the other guy's ins. co. She has full coverage, so how could reading the policy better their situation? I guess I'm a little slow today and my emotions are extremely high. Quote Link to comment Share on other sites More sharing options...
Furd Posted January 19, 2006 Share Posted January 19, 2006 In your opinion would a lawyer be worthwhile? 1276368[/snapback] It depends. Your bud's wife's insurance policy will spell out how they handle this particular situation. Them things are usually pretty tricky to read, but I'm not sure that you need a lawyer to do it. If your bud's wife thinks that she is being screwed, she should ask somebody to look at it. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 19, 2006 Author Share Posted January 19, 2006 It depends. Your bud's wife's insurance policy will spell out how they handle this particular situation. Them things are usually pretty tricky to read, but I'm not sure that you need a lawyer to do it. If your bud's wife thinks that she is being screwed, she should ask somebody to look at it. 1276402[/snapback] Gotcha! TY! I think I'll wait and see what amount they offer her. As I said, w/ no injuries, I think the most they can expect is the actual cost of a replacement. I just wanted to make sure I wasn't missing anything. Thanks again all! What a great place for answers! Quote Link to comment Share on other sites More sharing options...
Furd Posted January 19, 2006 Share Posted January 19, 2006 Gotcha! TY! I think I'll wait and see what amount they offer her. As I said, w/ no injuries, I think the most they can expect is the actual cost of a replacement. I just wanted to make sure I wasn't missing anything. Thanks again all! What a great place for answers! 1276408[/snapback] My pleasure. Quote Link to comment Share on other sites More sharing options...
H8tank Posted January 20, 2006 Share Posted January 20, 2006 What year is this corolla? $8K? A 2002 might bring $8K... if it was in perfect condition, but 85K is a lot of miles, I have a feeling thiers is older. Cars like that are ex-rentals, they are a dime/dozen. People have an artifical, inflated value of what they think their car is worth. No fault of their own, just a poor guess backed by nothing but emotion. No insurance company is going to pay retail for a car. NONE. I just went through all this 60 days ago, it is no fun. I was very pleased with my insurance company's offer, I took thier first. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 20, 2006 Author Share Posted January 20, 2006 What year is this corolla? $8K? A 2002 might bring $8K... if it was in perfect condition, but 85K is a lot of miles, I have a feeling thiers is older. Cars like that are ex-rentals, they are a dime/dozen. People have an artifical, inflated value of what they think their car is worth. No fault of their own, just a poor guess backed by nothing but emotion. No insurance company is going to pay retail for a car. NONE. I just went through all this 60 days ago, it is no fun. I was very pleased with my insurance company's offer, I took thier first. 1276731[/snapback] It's a 2002 Corolla CE! 85K miles. I'm hopin' for $9.5K! That's a price I got from 2 vehicles on CarMax nationwide search! These people need everything they can get! TY, for the reply! Quote Link to comment Share on other sites More sharing options...
H8tank Posted January 20, 2006 Share Posted January 20, 2006 Cars around that mileage in your area are retailing for around $8-9, not even knowing anything about the condition of their car, I bet they offer $7k~ish, tops. I know it is not what you want to hear, but this is reality. I would not be surprised if their offer was $6000. http://www.autotrader.com/fyc/searchresult...60617&x=74&y=11 When the insurance company does contact them, do not tell them it is paid off, don't lie, just don't asnwer the question directly, say you don't know. If they have recently put on tires, or other mechanical work, and can provide receipts, they may get a boost of a few hundred. But a 2002 Corolla CE with 85K miles is not gonna be anywhere near $9K, not even in kanadian money. Quote Link to comment Share on other sites More sharing options...
tbimm Posted January 20, 2006 Share Posted January 20, 2006 (edited) Cars around that mileage in your area are retailing for around $8-9, not even knowing anything about the condition of their car, I bet they offer $7k~ish, tops. I know it is not what you want to hear, but this is reality. I would not be surprised if their offer was $6000. http://www.autotrader.com/fyc/searchresult...60617&x=74&y=11 When the insurance company does contact them, do not tell them it is paid off, don't lie, just don't asnwer the question directly, say you don't know. If they have recently put on tires, or other mechanical work, and can provide receipts, they may get a boost of a few hundred. But a 2002 Corolla CE with 85K miles is not gonna be anywhere near $9K, not even in kanadian money. 1276765[/snapback] States and companies vary greatly! My experience has been closer to NADA value than the low end. The no injury thing helps them a bunch because the ins company is much happier to pay for a car once, than to get involved in drawn out legal battles over injuries! Edited January 20, 2006 by tbimm Quote Link to comment Share on other sites More sharing options...
NSab Posted January 20, 2006 Share Posted January 20, 2006 You sure her neck isn't even a little sore? Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 20, 2006 Author Share Posted January 20, 2006 States and companies vary greatly! My experience has been closer to NADA value than the low end. The no injury thing helps them a bunch because the ins company is much happier to pay for a car once, than to get involved in drawn out legal battles over injuries! 1276786[/snapback] Thanks T! Your very much on point! You sure her neck isn't even a little sore? 1276802[/snapback] I wish, but when my car got totaled AND I had injuries, it COST me $300!!! Long story, a-hole lawyer! Quote Link to comment Share on other sites More sharing options...
NSab Posted January 20, 2006 Share Posted January 20, 2006 Sound like we need another Huddler fund raisng effort. Talk about bad luck, man. Quote Link to comment Share on other sites More sharing options...
H8tank Posted January 20, 2006 Share Posted January 20, 2006 [qoute]My experience has been closer to NADA value than the low end. NADA has many values, and regardless what they are, NADA doesn't cut checks. I'll be happy to bet I am right if your'e so confident. Quote Link to comment Share on other sites More sharing options...
Furd Posted January 20, 2006 Share Posted January 20, 2006 When the insurance company does contact them, do not tell them it is paid off, don't lie, just don't asnwer the question directly, say you don't know. 1276765[/snapback] Rather Clinton-esque, don't you think? Quote Link to comment Share on other sites More sharing options...
H8tank Posted January 20, 2006 Share Posted January 20, 2006 Rather Clinton-esque, don't you think? What they owe on their car has no influence on what the car is worth. They will have to know ultimately if there is a payoff, but if the insurance company knows it is free and clear, they may take that into consideration... could result in a lower offer. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 28, 2006 Author Share Posted January 28, 2006 Update: After my bud's wife and I negotiated/wrangled/argued w/ her insurance co., the final offer came to $8715, which is only $10 less than NADA retail. I thought that was as good as it was going to get, considering their first offer was $1500 lower. She only has the $8715 to work w/ for another car. She cannot afford any car payment and after exhaustive searches (newspapers & internet) she can't even afford to by a similar car back! That price range brings a car at least 1 year older w/ the same high mileage or much older cars that will probably require repairs that she also can't afford. Question: If she leased a 2006 Corolla, basic model, put down $2500, her leftover money could almost last the lease cycle and at that time could refi it as her financial situation should be better. I did a lease for my daughter, it worked out OK for her and there were no end of lease horror stories. But I'm not sure that is typical. Is my idea sound? Is there a flaw in my reasoning, other than the typical lease gotchas? Any better ideas? I'm open, but time is pressing and she needs to buy/lease a car in the next 2-3 days, to avoid extra rental fees. Thanks in advance! Quote Link to comment Share on other sites More sharing options...
BYoder Posted January 28, 2006 Share Posted January 28, 2006 Update:Question: If she leased a 2006 Corolla, basic model, put down $2500, her leftover money could almost last the lease cycle and at that time could refi it as her financial situation should be better. I did a lease for my daughter, it worked out OK for her and there were no end of lease horror stories. But I'm not sure that is typical. Is my idea sound? Is there a flaw in my reasoning, other than the typical lease gotchas? Any better ideas? I'm open, but time is pressing and she needs to buy/lease a car in the next 2-3 days, to avoid extra rental fees. Thanks in advance! 1293454[/snapback] I leased my first truck and it turned out ok. I bought it when the lease term was up, but in the end I felt like I paid way to much for it after figuring in all of the lease payments and the note when I purchased it. One idea when looking at a lease could be to pay all of the payments up front. My grandparents did this and they got a better rate than if they would have made monthly payments. And since your friend has $8715 she may have enough to do this if you can haggle with the dealer. Another idea might be to try to purchase the car with a small, or no, downpayment and use the rest of the $8715 to make payments until her financial situation improves. Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted January 28, 2006 Share Posted January 28, 2006 Insurance is the second biggest scam going Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 28, 2006 Author Share Posted January 28, 2006 I leased my first truck and it turned out ok. I bought it when the lease term was up, but in the end I felt like I paid way to much for it after figuring in all of the lease payments and the note when I purchased it. One idea when looking at a lease could be to pay all of the payments up front. My grandparents did this and they got a better rate than if they would have made monthly payments. And since your friend has $8715 she may have enough to do this if you can haggle with the dealer. Another idea might be to try to purchase the car with a small, or no, downpayment and use the rest of the $8715 to make payments until her financial situation improves. 1293463[/snapback] I ran the numbers for a purchase, as you suggested and that won't go. It's about $50 more per month for a longer period of time and her money won't last, but thanks for the suggestion. Quote Link to comment Share on other sites More sharing options...
rocknrobn26 Posted January 29, 2006 Author Share Posted January 29, 2006 ^Bump, as I REALLY need some input on this in the next 2-3 days! Please?? Quote Link to comment Share on other sites More sharing options...
H8tank Posted January 29, 2006 Share Posted January 29, 2006 (edited) Seeing as how their car was paid for, and had high mileage, they may not be the type to want a lease. Leasing can be a very good option, especially if the leasing company or manufacturer has extremely generous programs to lure buyers. I would recommend buying an 03 or 04 type program car, put a few thousand down and finance the balance at the super low rates that are out, they could upgrade to a camry, have a bascially new car, 03 with 35-45K miles, and have a payment around $200month, with thousands in the bank now to help them This all my be a blessing in disguise. I bet they offer $7k~ish, tops. the final offer came to $8715, which is only $10 less than NADA retail. I thought that was as good as it was going to get, considering their first offer was $1500 lower. ... exhaustive searches (newspapers & internet) she can't even afford to by a similar car back! Sorry, but that is not true. Search Autotrader, search with 100 mile range, and remember, the asking price may be $2000 higher than they will sell the car for. 2003 Corolla, 50K miles, auto/air, power everthing asking $8995. You could probably take the car home for $7500. Edited January 29, 2006 by H8tank Quote Link to comment Share on other sites More sharing options...
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